c) Having carried out the allocation and apportionment process of its operations, themanagement accountant of Flowers Ltd is left with the reapportionments to carryout. The data below represent the current state of the overhead distributionsummary and the additional detail that is needed to answer the question thatfollows.Flower Ltd overhead distribution summaryProduction departmentTMAmount in Amount inKesKes25,00020,000Total b/dReapportionment percentagesA (%)B (%)RequiredProduction departmentMT30202025FAmount inKes30,000F2530i. The repeated distribution methodii. Algebraic methodService departmentAAmount inKes10,000Service departmentA-BAmount inKes20,00025B25a) Reapportion the service department overheads into the production departments onthe basis of each of the following:

Overhead Apportionment Summary( Using Repeated Distribution Method)DetailsProduction…

c) Having carried out the allocation and apportionment process of its operations, the management accountant of Flowers Ltd is left with the reapportionments to carry out. The data below represent the current state of the overhead distribution summary and the additional detail that is needed to answer the question that follows. Flower Ltd overhead distribution summary Production department M Total b/d T Amount in Amount in Kes Kes 25,000 20,000 Reapportionment percentages A (%) B (%) Production department M 30 20 T 20 25 F Amount in Kes 30,000 F 25 30 i. The repeated distribution method ii. Algebraic method Service department A Amount in Kes 10,000 B Amount in Kes 20,000 Service department A 25 B 25 Required a) Reapportion the service department overheads into the production departments on the basis of each of the following:

c) Having carried out the allocation and apportionment process of its operations, the management accountant of Flowers Ltd is left with the reapportionments to carry out. The data below represent the current state of the overhead distribution summary and the additional detail that is needed to answer the question that follows. Flower Ltd overhead distribution summary Production department M Total b/d T Amount in Amount in Kes Kes 25,000 20,000 Reapportionment percentages A (%) B (%) Production department M 30 20 T 20 25 F Amount in Kes 30,000 F 25 30 i. The repeated distribution method ii. Algebraic method Service department A Amount in Kes 10,000 B Amount in Kes 20,000 Service department A 25 B 25 Required a) Reapportion the service department overheads into the production departments on the basis of each of the following:

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 41E

See similar textbooks

Similar questions

ilrn/takeAssignment/takeAssignmentMain.do?invoker%-&takeAssignmentSessionLocator3&inprogress%3false ps Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Issued Balance Receiving Materials Unit Report Quantity Requisition Quantity Date Unit Price Amount Quantity Amount Number Number price May 1 250 $5 $1,250 21 180 $7 May 4 102 280 $4 May 10 27 120 May 21 115 170 May 27 b. Determine the materials inventory balance at the end of May. c. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. Previous Next
materials into finished goods, sell the finished goods on operating cycle under PAS 1? account, and collect the receivables. for the entity to acquire raw materials on account and settle the account. d. For a manufactuțing entity, this is the usual time it takes for the entity to sell finished goods on account and collet the receivables.
An incomplete subsidiary ledger of materials inventory for May is as follows: See Attachment a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO.b. Determine the materials inventory balance at the end of May.c. Journalize the summary entry to transfer materials to work in process.d. Explain how the materials ledger might be used as an aid in maintaininginventory quantities on hand.
please step by step solution.
In each blank next to the following types of indirect expenses and service department expenses, place the identifying letter of the best allocation basis to use to distribute it to the departments indicated.
Cost of materials issuances under the FIFO methodAn incomplete subsidiary ledger of materials inventory for May is as follows: A. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO.B. Determine the materials inventory balance at the end of May.C. Journalize the summary entry to transfer materials to work in process.D. Explain how the materials ledger might be- used as an aid in maintaining inventory quantities on hand.
Using the information provided in RE17-16, prepare the journal entries to record Year 1s (a) construction costs, (b) partial billings, (c) cash collections, and (d) gross profit.
Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Issued Balance Receiving Materials Report Unit Requisition Unit Number Quantity Price Number Quantity Amount Date Quantity price Amount May 1 350 $8 $2,800 21 240 $10 May 4 107 400 May 10 27 160 12 May 21 120 230 May 27 b. Determine the materials inventory balance at the end of May. $4 c. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. 88 d. Comparing as reported in the materials ledger with predetermined order points would enable management to order materials before a(n) causes idle time.
In each blank next to the following types of indirect expenses and service department expenses, place the identifying letter of the best allocation basis to use to distribute it to the departments indicated. 1. Computer service expenses of production scheduling for operating departments. 2. General office department expenses of the operating departments. 3. Maintenance department expenses of the operating departments. 4. Electric utility expenses of all departments. A. Relative number of employees. B. Proportion of total time in each department for maintenance. C. Proportion of floor space occupied by each department. D. Proportion of total processing time for each operating department.
Categorize each of the following activities into the expenditure, conversion, or revenue cycles, and identify the applicable subsystem.a. preparing the weekly payroll for manufacturing personnelb. releasing raw materials for use in the manufacturing cyclec. recording the receipt of payment for goods soldd. recording the order placed by a customere. ordering raw materialsf. determining the amount of raw materials to order
Cost of materials issuances under the FIFO method An incomplete subsidiary ledger of materials inventory for May is as follows: a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Receiving Received Report Number Received Quantity Unit Price Issued Materials Requisition Number Balance Issued Quantity Issued Balance Balance Unit Balance Amount Date Quantity price Amount May 1 260 $9 $2,340 25 180 $11 May 4 260 9 2,340 180 11 1,980 103 290 May 10 11 31 120 13 May 21 116 170 May 27 b. Determine the materials inventory balance at the end of May.
Q2. Categorize each of the following activities into the expenditure, conversion, or revenue cycles, and identify the applicable subsystem. a. Preparing the weekly payroll for manufacturing personnel b. Releasing raw materials for use in the manufacturing cycle c. Recording the receipt of payment for goods sold d. Recording the order placed by a customer e. Ordering raw materials f. Determining the amount of raw materials to order?