Aa 166. Required ARequired BPrepare an activity-based income statement.Truck repair salesCostsActivity-Based Income StatementVolume related - OperationBatch related - MaintenanceTotal costsTruck repair operating profitsResourcesUsedUnusedResourceCapacity< Required AResourcesSuppliedRequited B Byron Truck Repair uses a specialized hydraulic lift to work on trucks and busses. Data on the lift and its usage follow:Resources usedOperationMaintenanceResources suppliedOperationMaintenanceSales revenue from truck repair totaled $43,000.Cost Driver Rate$5.00 per lift-hour$10.00 per jobRequired:a. Prepare a traditional income statement.b. Prepare an activity-based Income statement.Required A Required B$ 19,000$ 8,200Complete this question by entering your answers in the tabs below.Prepare a traditional income statement.Truck repair salesOperation costsMaintenance costsOperating profitTraditional Income StatementCost Driver Volume3,010 lift-hours524 jobs< Required ARequired B >4

An income statement is a financial report that indicates the revenue and expenses of a business. It…

Byron Truck Repair uses a specialized hydraulic lift to work on trucks and busses. Data on the lift and its usage follow: Resources used Operation. Maintenance Resources supplied Operation Maintenance Cost Driver Rate $5.00 per lift-hour $10.00 per job $ 19,000 $ 8,200 Sales revenue from truck repair totaled $43,000. Required: a. Prepare a traditional Income statement. b. Prepare an activity-based Income statement. Cost Driver Volume 3,010 lift-hours 524 jobs Complete this question by entering your answers in the tabs holow

Byron Truck Repair uses a specialized hydraulic lift to work on trucks and busses. Data on the lift and its usage follow: Resources used Operation. Maintenance Resources supplied Operation Maintenance Cost Driver Rate $5.00 per lift-hour $10.00 per job $ 19,000 $ 8,200 Sales revenue from truck repair totaled $43,000. Required: a. Prepare a traditional Income statement. b. Prepare an activity-based Income statement. Cost Driver Volume 3,010 lift-hours 524 jobs Complete this question by entering your answers in the tabs holow

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Fans Company has two service departments-product design and engineering support, and two production departments - assembly and finishing. The distribution of each service department's efforts to the other departments is shown below: Design SERVICE DEPARTMENT Product Design 0% Engineering Support 20% The direct operating costs of the departments (including both variable and fixed costs) were as follows: Product Design Engineering Support Assembly Finishing Multiple Choice $1,863,265 SERVICES PROVIDED TO Support 10% 0% $623,878 $1,036,122 Assembly 30% 45% $100,000 $ 200,000 $540,000 $ 820,000 The total cost accumulated in the assembly department using the reciprocal method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar) Finishing 60% 35% D
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Q23
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6.
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