### Problem Statement:Resources Usage and Cost Table:| Cost Driver Rate | Cost Driver Volume ||------------------|--------------------|| **Resources used** | || Setups | $395 per run | 450 runs || Clerical | $35 per page | 3,000 pages typed || **Resources supplied** | || Setups | $181,200 | || Clerical | $113,900 | |**Sales revenue totaled $340,000.**#### Required:a. Prepare a traditional income statement.b. Prepare an activity-based income statement.---### Required A**Prepare a traditional income statement.**### Required B**Prepare an activity-based income statement.**---### Activity-Based Income Statement Structure:| | **Resources Used** | **Unused Resource Capacity** | **Resources Supplied** ||-------------------------------|--------------------|------------------------------|-----------------------|| **Sales revenue** | | | || **Costs** |--------------------|------------------------------|-----------------------|| Volume related - Clerical | | | || Batch related - Setups | | | || **Total costs** | | | || **Operating profits** | | | |**Completion Instructions:**1. Enter activity-based cost calculations in the appropriate fields.2. Ensure the total costs and operating profits are accurately calculated based on supplied and used resources.This table helps to dissect costs based on their origin (clerical or setups) and how they relate to sales revenue, providing a comprehensive look at the profit and cost allocation. **Conlon Enterprises Resource Information**Conlon Enterprises reports the following information about resources:| Resources used | Cost Driver Rate | Cost Driver Volume ||------------------|-------------------|--------------------|| Setups | $395 per run | 450 runs || Clerical | $35 per page | 3,000 pages typed || Resources supplied||-------------------|| Setups | $181,200 || Clerical | $113,900 |Sales revenue totaled $340,000.**Required:**a. Prepare a traditional income statement.b. Prepare an activity-based income statement.**Task:**Complete this question by entering your answers in the tabs below.**Prepare a traditional income statement:****Traditional Income Statement**| | ||-------------------------------|--------------------------------------|| **Sales revenue** | || **Setup costs** | || **Clerical costs** | || **Operating profit** | |

Solution:- A) Preparation of traditional income statement as follows:-

Cost Driver Rate Cost Driver Volume Resources used Setups Clerical Resources supplied Setups Clerical 395 per run 35 per page 450 runs 3,000 pages typed $181,200 113,900 Sales revenue totaled $340,000. Required: a. Prepare a traditional income statement. b. Prepare an activity-based income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare an activity-based income statement. Activity-Based Income Statement Resources Used Unused Resource Resources Supplied Capacity Sales revenue Costs Volume related - Clerical Batch related - Setups Total costs Operating profits

Cost Driver Rate Cost Driver Volume Resources used Setups Clerical Resources supplied Setups Clerical 395 per run 35 per page 450 runs 3,000 pages typed $181,200 113,900 Sales revenue totaled $340,000. Required: a. Prepare a traditional income statement. b. Prepare an activity-based income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare an activity-based income statement. Activity-Based Income Statement Resources Used Unused Resource Resources Supplied Capacity Sales revenue Costs Volume related - Clerical Batch related - Setups Total costs Operating profits

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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Required information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Work in process inventory, beginning. Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses. Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Garcon Company $ 12,700 18,800 8,900 27,500 21,600 20,150 23,800 7,600 11,400 24,500 14,200 7,700 43,500 53,200 294,720 30,000 15,200 Pepper Company $ 19,750 22,350 14,700 23,500 44,200 14,100 18,400 9,600 16,250 52,000 13,120 3,700 58,000 54,700 391,1801 24,200 20,700 1. Compute the total prime costs for both Garcon Company and Pepper Company. 2. Compute the total conversion…
Question Content Area needing anwser to #2B Mastery Problem: Cost-Volume-Profit Analysis Question Content Area Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow. UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 7,000 shelves $84,000 $9,550 $140,000 14,000 shelves 168,000 17,600 140,000 28,000 shelves 336,000 33,700 140,000 35,000 shelves 420,000 41,750 140,000 1. Determine whether the costs in the table are variable, fixed, mixed, or none of these. Lumber Utilities Depreciation 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total…
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Part 2: Based on the data presented in the Unit VII Spreadsheet Template in Excel (Full Variable tab), complete thecalculations listed below.• Calculate the value of ending inventory under full or absorption costing.• Calculate the value of ending inventory under variable costing.Which method you think is more helpful to managers and why. Cookie Business Productions Costs: Direct material $ 0.60 Direct labor $ 1.00 Variable manufacturing overhead $ 0.40 Total variable manufacturing costs per unit $ 2.00 Fixed manufacturing overhead per year $ 139,000.00 In addition, the company has fixed selling and administrative costs: Fixed selling costs per year $ 50,000.00 Fixed administrative costs per year $ 65,000.00 Selling price per cookie $ 3.75 Number of cookies produced 2,780,000 Number of cookies sold 2,600,000 Full (absorption) costing : Full…
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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…