the book I use for study:Horngren's Cost Accounting: A Managerial Emphasis, 16th edition, Global Edition. Questions in image RequestCompute: direct method and step method Mitra Permata Hati Clinic is a non-profit organization, building clinics for childrenfrom underprivileged families. This institution receives donations from the communityand local government for its operations. The local government asked the clinic manager tomake a financial report regarding the funds received from the local government budget.Available data:DESCRIPTIONFOH CostSquare feetEmployeesOperating DepartmentMedicalDental$ 200,000$80,0008,0001,00053Support DepartmentAdministration$ 80,000900Housekeeping$ 40,0001002The Administration Department will be allocated based on the number of employees whilethe Housekeeping Department will be allocated based on square feet. It is assumed thatthe Medical Department treats 12,000 patients and the Dental Department treats 10,000patients.

Meaning of direct cost allocation method In this method amount of service department are transferred…

Answered: Compute: direct method and step method

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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Ch19
Please help me with part a and part b thanku
Statement of cash flows-indirect methodThe comparative balance sheet of Yellow Dog Enterprises Inc. atDecember 31, 20Y8 and 20Y7, is as follows: Additional data obtained from the income statement and from anexamination of the accounts in the ledger for 20Y8 are as follows: a. Net income, $250,000.b. Depreciation reported on the income statement, $135,000.c. Equipment was purchased at a cost of $420,000 and fullydepreciated equipment costing $90,000 was discarded, with no salvage realized.d. The mortgage note payable was not due for six years, but theterms permitted earlier payment without penalty.e. 30,000 shares of common stock were issued at $20 for cash.f. Cash dividends declared and paid, $45,000. InstructionsPrepare a statement of cash flows, using the indirect method ofpresenting cash flows from operating activities.
4 Human resource management is an example of an activity at which of the following levels? Select one: a. Unit-level activity. b. Batch-level activity. c. Product-level activity. d. Organization-sustaining activity.
Shipping, selling, marketing, sales order processing, return processing, and advertising activities can be related to products by using activity-based costing. Would allocating these activities to products for financial statement reporting be acceptable according to GAAP
What documents are needed for cost accounting clerks to update the work-in-process accounts with standard charges?
ABC costing attempts to: O A. classify as many costs as indirect costs as is feasible. OB. identify the activities involved in a process. create as many cost pools as possible. O C. O D. seek a lesser level of detail.
The main focus of managerial accounting is: *
– Based on the assignment and what you know about managementaccounting, what do you believe is the purpose of a cost element? - What is one advantage of creating a vendor master record?
Value chain classifications Match each of the following cost items with the value chain business function where you would expect the cost to be incurred: Business Function Cost Item Answera. Research and development 1. Purchase of raw materialsb. Design 2. Advertisingc. Production 3. Salary of research scientistsd. Marketing 4. Shipping expensese. Distribution 5. Reengineering of product assembly processf. Customer service 6. Replacement parts for warranty repairs7. Manufacturing supplies8. Sales commissions9. Purchase of CAD (computer-aideddesign) software10. Salary of website designer
Definition of Management Accounting along with any other relevant concepts and the relationship between management accounting and the costing technique used such as the traditional technique and ABC
Standard cost are used primarily for: Estimating future costs. To produce financial statements for external users. To judge the performance of accounting managers. To judge the performance of managers involved in the manufacturing process.

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