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Byron Truck Repair uses a specialized hydraulic lift to work on trucks and busses. Data on the lift and its usage follow. Cost Driver Volume 3,210 lift-hours 540 jobs Resources used Operation. Maintenance. Resources supplied Operation Maintenance Cost Driver Rate $ 4.00 per 1rt-hour $ 12.00 per jdo $ 20,000 $ 10, 200

Byron Truck Repair uses a specialized hydraulic lift to work on trucks and busses. Data on the lift and its usage follow. Cost Driver Volume 3,210 lift-hours 540 jobs Resources used Operation. Maintenance. Resources supplied Operation Maintenance Cost Driver Rate $ 4.00 per 1rt-hour $ 12.00 per jdo $ 20,000 $ 10, 200

FINANCIAL ACCOUNTING
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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**Exercise 10-43 (Algo) Resources Used versus Resources Supplied (LO 10-5, 6)** Byron Truck Repair uses a specialized hydraulic lift to work on trucks and buses. Data on the lift and its usage follow: | Cost Driver | Rate | Cost Driver Volume | |-------------------|-------------------------|--------------------| | **Resources used**: | | | | Operation | $4.00 per lift-hour | 3,210 lift-hours | | Maintenance | $12.00 per job | 540 jobs | | **Resources supplied**: | | | | Operation | $20,000 | | | Maintenance | $10,200 | | Sales revenue from truck repair totaled $47,000. **Required:** a. Prepare a traditional income statement. b. Prepare an activity-based income statement. Complete this question by entering your answers in the tabs below.
Transcribed Image Text:**Exercise 10-43 (Algo) Resources Used versus Resources Supplied (LO 10-5, 6)** Byron Truck Repair uses a specialized hydraulic lift to work on trucks and buses. Data on the lift and its usage follow: | Cost Driver | Rate | Cost Driver Volume | |-------------------|-------------------------|--------------------| | **Resources used**: | | | | Operation | $4.00 per lift-hour | 3,210 lift-hours | | Maintenance | $12.00 per job | 540 jobs | | **Resources supplied**: | | | | Operation | $20,000 | | | Maintenance | $10,200 | | Sales revenue from truck repair totaled $47,000. **Required:** a. Prepare a traditional income statement. b. Prepare an activity-based income statement. Complete this question by entering your answers in the tabs below.
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