Chapter 11 Canvas Homework – SHOW YOUR WORK Service Department Charges: Anibo Aviation Services has two operating divisions – Airframe Division and Powerplant Division. The company has a snack bar that serves the employees of both divisions. The costs of operating the snack bar are budgeted at $87,000 per month plus $0.90 per meal served. The company pays all the cost of the meals. The fixed costs of the snack bar are determined by peak-period requirements. The airframe Division is responsible for 58% of the peak-period requirements, and the Powerplant Division is responsible for the other 42%. For June, the Airframe Division estimated it would need 84,000 meals served, and the Powerplant Division estimated it would need 54,000 meals served. However, due to unexpected layoffs of employees during the month, only 54,000 meals were served to the Airframe Division. Another 54,000 meals were served to the Powerplant Division as planned. The snack bar's actual fixed costs for June totaled $94,000 and its actual meal costs totaled $116,200. Required: 1. How much snack bar cost should be charged to each division for June? SHOW YOUR WORK

Chapter 11 Canvas Homework – SHOW YOUR WORK Service Department Charges: Anibo Aviation Services has two operating divisions – Airframe Division and Powerplant Division. The company has a snack bar that serves the employees of both divisions. The costs of operating the snack bar are budgeted at $87,000 per month plus $0.90 per meal served. The company pays all the cost of the meals. The fixed costs of the snack bar are determined by peak-period requirements. The airframe Division is responsible for 58% of the peak-period requirements, and the Powerplant Division is responsible for the other 42%. For June, the Airframe Division estimated it would need 84,000 meals served, and the Powerplant Division estimated it would need 54,000 meals served. However, due to unexpected layoffs of employees during the month, only 54,000 meals were served to the Airframe Division. Another 54,000 meals were served to the Powerplant Division as planned. The snack bar's actual fixed costs for June totaled $94,000 and its actual meal costs totaled $116,200. Required: 1. How much snack bar cost should be charged to each division for June? SHOW YOUR WORK

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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QUESTION 7 You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500 of equipment. You plan to work 330 hours per month and charge your customers $18 per hour. Your anticipated costs include: Advertising Gas $33.00 per month $1.20 per hour Depreciation $25.00 per month Assistant's Wages $7.00 per hour Miscellaneous Expenses $950.00 per month Calculate your budgeted contribution margin per hour on the contribution margin income statement.
ndenccinstructure.com/courses/3788/assignments/35969 Question 19 View Policies -/1 Current Attempt in Progress Bangor Company manufactures two products, Velveeto and Fondant. Bangor has estimated overhead costs as follows: setting up machines ($160,000), machining ($300,000) and inspecting ($100,000). Information on the two products follows: Velveeto Fondant Direct labor hours 60,000 100,000 Machine setups 2,400 1,600 Machine hours 96,000 104,000 Inspections 3,200 2,800 Overhead is applied to Fondant using direct labor hours. What is the total amount of overhead charged to this product line using traditional costing? $280,000 O $210,000 $350,000 O $105,000 2:29 PM 10/13/2019 e
Question 16 Direct Labor Order Allocation Rate Machine Time Allocation Rate Request (Easy-Medium) Use the information below to answer the questions that follow. $ $ $ 38.00 per hour 46.55 $ of OH / order 2.83 $ of OH / machine hour Place the answer to each part of the question in the box provided. Under job costing, how much overhead will be applied to a unit that takes 0.5 hours to produce and is part of an order for 100 units? Under job costing, how much overhead will be applied to a unit that takes 2 hours to produce and is part of an order for 10 units? What is the total cost of the first product if materials are $2.50 and a person must be present to run the machines? What is the total cost of the second product if materials are $1 and a person must be present to run the machines for half the total time?
Fantastic29 Cleapers owns and operates a large automatic laundry facility in Winchester. The company expects to process 8,100 loads of laundry in June and to collect an average of $6.20 per load processed. The following table provides data concerning the company's costs: Cost per Load of Laundry $ 0.60 $ 0.15 $ 0.40 $0.08 Detergents and Softeners. Equipment Maintenance Staff Compensation $ 4,300 $ 1,200 $ 8,100 $ 2,000 Administrative Expenses $1,500 $ 0.04 For example, utilities costs are $1,200 per month plus $0.08 per load of laundry. Utilities Equipment Depreciation Facility Lease The actual operating results for June are as follows: Fantastic29 Cleaners Income Statement For the Month Ended June 30 Actual loads processed Revenue Expenses: Fixed Cost per Month Detergents and Softeners Equipment Maintenance Staff Compensation Utilities Equipment Depreciation ( Facility Lease Administrative Expenses Total expense Net operating income 8,200 $ 52,320 5,360 1,455 7,900 1,018 8,100 2,200…
QUESTION 9 You plan on starting a lawn mowing business by investing $700 of your own money and purchase $500 of equipment. You plan to work 260 hours per month and charge your customers $22 per hour. Your anticipated costs include: Depreciation Advertising Gas Assistant's Wages Miscellaneous Expenses $25.00 per month $26.00 per month $1.20 per hour $8.00 per hour $20.00 per month Calculate your Variable cost per hour on the budgeted contribution margin income statement. 1
Question 3: Abdur Rahman has received an order from the neighbor land of FIJI ISLAND Company for the special dairy product he makes. Fiji Island Co asked for 5,000 units of the dairy products. To make the product, Abdur Rahman needs $5 of direct materials per unit , 15 Minutes to make one unit, hourly payment is $12. For the purpose of calculating overhead, the company has estimated 30,000 direct labor hour would be needed this year. Estimated fixed manufacturing overhead $150,000 and variable manufacturing overhead is $4 per hour. During the season, the actual manufacturing overhead of Abdur Rahman Company was $250,000 with total 32,000 direct labor. Required: 3a). Determine the product costs per unit also total product cost for Fiji Company. 3b). Why companies use predetermined overhead costs rather than actual manufacturing overhead costs to apply overhead to jobs.
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Question 13 Lightview produces and sells overhead projectors to schools and colleges. Each overhead projector uses $27 of materials and requires 3 hours of labor at $10 per hour. Each overhead projector sells for $85. Lightview has fixed overheads of $227930. What is Lightview's break-even point in sales units? Round your answer to 2 decimal places.
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