Download the Applying Excel form and enter formulas in all cells that contain question marks.For example, in cell B30 enter the formula "= B20".Notes:In the text, variances are always displayed as positive numbers. To accomplish this, you can use the ABS() function in Excel. For example, the formula in cell C31would be "=ABS(E31-B31)".Cells D31 through D39 and G31 through G39 already contain formulas to compute and display whether variances are Favorable or Unfavorable. Do not enter dataor formulas into those cells-if you do, you will overwrite these formulas.After entering formulas in all of the cells that contained question marks, verify that the amounts match the numbers in the example in the text.Required:1. Check your worksheet by changing the revenue in cell D4 to $16.00; the cost of ingredients in cell D5 to $6.50; and the wages and salaries in cell B6 to $10,000.The activity variance for net operating income should now be $850 U and the spending variance for total expenses should be $410 U. If you do not get theseanswers, find the errors in your worksheet and correct them.Save your completed Applying Excel form to your computer and then upload it here by clicking “Browse.” Next, click “Save." You will use this worksheet toanswer the questions in Part 2. A1 Chapter 9: Applying Excel23 Data4 Revenue5 Cost of ingredients6 Wages and salaries7 Utilities8 Rent9 Miscellaneous1011 Actual results:12 Revenue13 Cost of ingredients27282930 Meals served31 Revenue32 Expenses:3334353637 Miscellaneous38 Total expenses39 Net operating income40BCost of ingredients$10,400$800$2,200$600Wages and salariesUtilitiesRent$27,920$11,110$10,130$1,080$2,200$2,24014 Wages and salaries15 Utilities16 Rent17 Miscellaneous1819 Planning budget activity20 Actual activity2122 Enter a formula into each of the cells marked with a ? below23 Review Problem: Variance Analysis Using a Flexible Budget2425 Construct a flexible budget performance report261,800 meals served1,700 meals servedActualResults??~.~.~.~.·.~.~.?????+?+?RevenueandSpendingVariances?~.~.~.c.???????D$16.50 q$6.25 q$0.20 q$0.80 qEFlexible ActivityBudget Variances??F????????~.~.~.C.C.S???????HPlanningBudget?????????

Flexible budget is prepared to analyze the actual performance of the company. Variance refers to the…

Chapter 9: Applying Excel Data Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous Actual results: Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous Planning budget activity Actual activity Meals served Revenue Expenses: Cost of ingredients Wages and salaries Utilities Rent $10,400 $800 $2,200 $600 Miscellaneous Total expenses Net operating income $27,920 $11,110 $10,130 $1,080 $2,200 $2,240 Enter a formula into each of the cells marked with a ? below Review Problem: Variance Analysis Using a Flexible Budget Construct a flexible budget performance report 1,800 meals served 1,700 meals served + ? + Revenue and Actual Spending Results Variances ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? $16.50 q $6.25 q $0.20 q $0.80 q Flexible Budget ? ? ? UNNN... ? ? ? ? ? ? Activity Variances ? ? ? ? ? ? ? ? Planning Budget ? ? ? ? ? ? ? ? ?

Chapter 9: Applying Excel Data Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous Actual results: Revenue Cost of ingredients Wages and salaries Utilities Rent Miscellaneous Planning budget activity Actual activity Meals served Revenue Expenses: Cost of ingredients Wages and salaries Utilities Rent $10,400 $800 $2,200 $600 Miscellaneous Total expenses Net operating income $27,920 $11,110 $10,130 $1,080 $2,200 $2,240 Enter a formula into each of the cells marked with a ? below Review Problem: Variance Analysis Using a Flexible Budget Construct a flexible budget performance report 1,800 meals served 1,700 meals served + ? + Revenue and Actual Spending Results Variances ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? $16.50 q $6.25 q $0.20 q $0.80 q Flexible Budget ? ? ? UNNN... ? ? ? ? ? ? Activity Variances ? ? ? ? ? ? ? ? Planning Budget ? ? ? ? ? ? ? ? ?

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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Answer question 3-4 using the information below: Fantasy Book and Music Store has two support departments and two production departments. Costs of each department are presented below. Data on budgeted warehouse-hours and number of computer log-on hours for cost allocation of support departments are as follows: Support Departments Production Departments Warehouse Data Center Music Books Budgeted costs Budgeted warehouse-hours Number of computer hours $495,000 1,750 $412,500 3,500 2,800 $1,155,000 $495,000 N/A 5,250 3,500 700 N/A 3. Using the direct method, how much are the total costs of the Books Department? A. $495,000 B. $275,000 C. $693,000 D. $1,463,000 4. Using the step-down method, what amount of Data Center Department cost will be allocated to Music Department if the service department with the highest percentage of interdepartmental support service is allocated first? A. $387,229 B. $220,001 C. $307,267 D. $381,150
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Q. 2 Índigo manufacturing has five activity cost pools and two products ( a budget tape vacuum and a deluxe tape vacuum). Information is presented below:
On January 1, 2021, Wee Company acquired property consisting of ten identical freehold detached houses each Problem 22-9 (IFRS) with separate legal title including the land on which it is built for P200,000,000, 20% of which is attributable to the land. The units have a useful life of 50 years. The following costs are also incurred on such date: Nonrefundable transfer taxes not included in the purchase price 20,000,000 Legal cost directly attributable to the acquisition 1,000,000 Reimbursement to the previous owner for prepaying nonrefundable property taxes for the six-month period ending June 30, 2021 100,000 Advertising campaign 500,000 Opening function to celebrate new rental business 200,000 On June 30, 2021, the entity paid local property taxes of P200,000 for the year ending June 30, 2022. Throughout 2021, the entity incurred repairs and maintenance of P120,000. The entity used one of the ten units to accommodate the administration and maintenance staff. The other nine units are…
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e Preview 4) F3 $ R 01- Arctic Air Inc. manufactures cooling units for commercial buildings. The price and cost of goods sold for each unit are as follows: Category Price Cost of goods sold Gross profit F4 Customer service Project bidding Engineering support Total costs In addition, the company incurs selling and administrative expenses of $226,250. The company wishes to assign these costs to its three major customers, Gough Industries, Breen Inc., and The Martin Group. These expenses are related to three major nonmanufacturing activities: customer service, project bidding, and engineering support. The engineering support is in the form of engineering changes that are placed by the customer to change the design of a product. The budgeted activity costs and activity bases associated with these activities are: S⁰5 Activity Number of service requests Number of bids Number of customer design changes Unit volume % Activity 3:0 F5 T Activity-base usage and unit volume information for the…
ezto.mheducation.com Homework: Cost Management and Allocation Assignment Question 7- Homework: Cost Management and Allocation Assignment- Connect Homework: Cost Management and Allocation Assignm... i Saved Help Save & Exit Submit Check my work State Financial Corp. has three service departments (Administration, Communications, and Facilities), and two production departments (Deposits and Loans). A summary of costs and other data for each department prior to allocation of service department costs for the year ended December 31 follows. 4. points Administration Communications Facilities Deposits $8,320,000 $4,600,000 447, 000 Loans Direct costs $200,000 24,000 $290,000 31,000 $253,000 20,500 Employee hours Number of employees Square footage occupied Skipped 360,000 8. 14 6. 230 130 4,600 13,800 5,100 244, 100 203,300 The costs of the service departments are allocated on the following bases: Administration, employee-hours; Communications, number of employees; and Facilities, square…
Problem 1 What is the standard labor cost percentage to serve 50, 75, and 100 lunches, given the following number of standard labor hours (assume a guest check average for lunch of $14.75)?
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