CakeCo, Incorporated has three operating departments. Information about these departments is listed below. Maintenance is service department at CakeCo that incurred $14,400 of costs during the period. If allocated maintenance cost is based on floor space occupied by each of the operating departments, compute the amount of maintenance cost allocated to the Baking Department. Department Direct Expenses Square Feet Mixing $ 26,000 1,500 Baking 20,000 2,250 Packaging 14,000 750 $320. $960. $6,000. $9,450. $7,200. 9

CakeCo, Incorporated has three operating departments. Information about these departments is listed below. Maintenance is service department at CakeCo that incurred $14,400 of costs during the period. If allocated maintenance cost is based on floor space occupied by each of the operating departments, compute the amount of maintenance cost allocated to the Baking Department. Department Direct Expenses Square Feet Mixing $ 26,000 1,500 Baking 20,000 2,250 Packaging 14,000 750 $320. $960. $6,000. $9,450. $7,200. 9

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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Mervon Company has two operating departments: mixing and bottling. Mixing occupies 26,640 square feet. Bottling occupies 17,760 square feet. Indirect factory costs include maintenance costs of $210,000. If the maintenance costs are allocated to operating departments based on square footage occupied, determine the amount of maintenance costs allocated to each operating department. Department Mixing Bottling Total Sq. Feet % of Total Maint. Exp. to Allocate Allocated Amount
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Presented below are certain operating data for the four departments of Tally Manufacturing Company. Service Production 1 2 1 2 Total manufacturing overhead costs either identifiable with or allocated to each department $72,000 $86,400 $108,000 $117,600 Square feet of factory floor space 48,000 96,000 Number of factory workers 110 70 Planned direct labor hours for the year 24,000 36,000 Allocate, to the two production departments, the costs of service departments 1 and 2, using factory floor space and number of workers, respectively, as bases. Do not round bases when calculating reallocations of service departments. Production 1 2 Identifiable and allocated overhead Answer Answer Reallocation of service departments: Dept. 1 Factory floor space Answer Answer Dept. 2 Number of factory workers Answer Answer Total manufacturing overhead Answer Answer What is the apparent…
Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two operating departments using different allocation bases. The following information is available for the current period: Office Expenses Total Allocation Base Salaries $ 30,000 Number of employees Depreciation 20,000 Cost of goods sold Advertising 40,000 Percentage of total sales Department Number of employees Sales Cost of goods sold Drilling 1,000 $ 325,000 $ 75,000 Grinding 1,500 475,000 125,000 Total 2,500 $ 800,000 $ 200,000 The amount of salaries that should be allocated to Grinding for the current period is:
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Problem 1-22 (ACP) Love Company reported the following information in relation to cash on December 31, 2020: Checkbook balance, P4,000,000. * Undeposited collections, P400,000. A customer check amounting to P200,000 dated January 2, 2021 was included in the December 31, 2020 checkbook balance. Another customer check for P500,000 deposited on December 22, 2020 was included in the checkbook balance but returned by the bank for insufficiency of fund. This check was redeposited on December 26, 2020 and cleared two days later. A P400,000 check payable to supplier dated and recorded on December 30, 2020 was mailed on January 16, 2021. A petty cash fund of P50,000 comprised the following on December 31, 2020: Coins and currencies Petty cash vouchers Refundable deposit for returnable containers 5,000 40,000 5,000 50,000 A check of P40,000 was drawn on December 31, 2020 payable to Petty Cash. 1. What is the adjusted cash in bank on December 31, 2020? a. 4,600,000 b. 4,200,000 c. 4,400,000 d.…
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Craftmore Machining produces machine tools for the construction industry. The following details about overhead costs were taken from its company records. Production Activity Indirect Labor Indirect Materials Other Overhead Grinding $ 310,000 Polishing $ 145,000 Product modification 550,000 Providing power $ 260,000 System calibration 560,000 Additional information on the drivers for its production activities follows. Grinding 17,000 machine hours Polishing 17,000 machine hours Product modification 1,500 engineering hours Providing power 15,000 direct labor hours System calibration 200 batches Problem C-1A Part 3 Job 3175 Job 4286 Number of units 150 units 1,875 units Machine hours 350 MH 3,500 MH Engineering hours 30 eng. hours 30 eng. hours Batches 10 batches 30 batches Direct labor hours 520 DLH 4,680 DLH
A local picnic table manufacturer has budgeted these overhead costs - ERROR: "Handling materials" is $33,350 - (note their order as you will use the same order down below): Purchasing Handling materials Machine setups $70,000 33,333 70,500 25,500 45,000 Inspections Utilities They are considering adapting ABC costing and have estimated the cost drivers for each pool as shown (again, note their order): Cost Driver Activity Orders 700 Material moves Machine setups Number of inspections Square feet 1,334 15,000 5,000 180,000 Recent success has yielded an order for 1,000 tables. Assume direct labor costs per hour of $20. Determine how much the job would cost given the following activities (once more, note their order for the last worksheet): Activity Order (units) Direct materials 1,000 112,700 15,200 5,300 60 Machine hours Direct labor hours Number of purchase orders Number of material moves Number of machine setups Number of inspections Number of square feet occupied 800 100 450 8,000…
General Printing Company has three service departments and two operating departments. Selected data for the five departments relating to the most recent period follow: Service Departments Training Janitorial Maintenance "$96,000 Operating Departments Litho $534,000 Offset Printing Direct Overhead costs $400,000 $210,000 $ 400,000 Number of employees Square metres of space occupied 120 70 280 630 420 1,000 2,000 4,000 8,000 40,000 20,000 60,000 Number of Machine-hours The company allocates service department costs in the following order and using the bases indicated: Training (number of employees), Janitorial (Space Occupied) and Maintenance (hours of press time). REQUIRED: Prepare a schedule, in good format, allocating the service departments' costs using the Step Method.