DM/DL/OH/S ell/Admin Product or Cost Period а. Annual bonus paid to top executives of the company b. Cost of paving the headquarters employee parking lot c. Steering wheels d. Salary of shop supervisor е. Power used by sanding equipment f. Cost of electrical wiring for boats g. Commissions to sales representatives, based upon the number of boats sold h. Legal department cost for the year i. Memberships for key executives in the Bass World Association j. Yearly cost of maintenance contract for robotic equipment k. Cost of normal scrap from defective hulls I. Masks for use by sanders in smoothing boat hulls m. Decals for boat hulls n. Salary of president of company o. Cost of boat for "grand prize" promotion in local bass tournament р. Special advertising campaign in Bass World q. Wood paneling for use in interior boat rim r. Cost of metal hardware for boats, such as ornaments & tie-down grasps s. Annual fee to pro-fisherman Bill Tennessee to promote the boats t. Canvas top for boats u. Straight-line depreciation on factory equipment v. Oil to lubricate factory equipment w. Fiberglass for producing the boat hull х. Salary of Chief Financial Officer у. Hourly wages of assembly line workers z. Boat chairs

DM/DL/OH/S ell/Admin Product or Cost Period а. Annual bonus paid to top executives of the company b. Cost of paving the headquarters employee parking lot c. Steering wheels d. Salary of shop supervisor е. Power used by sanding equipment f. Cost of electrical wiring for boats g. Commissions to sales representatives, based upon the number of boats sold h. Legal department cost for the year i. Memberships for key executives in the Bass World Association j. Yearly cost of maintenance contract for robotic equipment k. Cost of normal scrap from defective hulls I. Masks for use by sanders in smoothing boat hulls m. Decals for boat hulls n. Salary of president of company o. Cost of boat for "grand prize" promotion in local bass tournament р. Special advertising campaign in Bass World q. Wood paneling for use in interior boat rim r. Cost of metal hardware for boats, such as ornaments & tie-down grasps s. Annual fee to pro-fisherman Bill Tennessee to promote the boats t. Canvas top for boats u. Straight-line depreciation on factory equipment v. Oil to lubricate factory equipment w. Fiberglass for producing the boat hull х. Salary of Chief Financial Officer у. Hourly wages of assembly line workers z. Boat chairs

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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Solomon Information Services, Incorporated, has two service departments: human resources and billing. Solomon's operating departments, organized according to the special Industry each department serves, are health care, retall, and legal services. The billing department supports only the three operating departments, but the human resources department supports all operating departments and the billing department. Other relevant information follows. Number of employees Annual cost* Annual revenue Req A1 Department Human Resources Billing Health Care Retail Req A2 Legal Services Total 20 $ 900,000 Complete this question by entering your answers in the tabs below. Allocation Rate Req B1 *This is the operating cost before allocating service department costs. Required a. Allocate service department costs to operating departments, assuming that Solomon adopts the step method. The company uses the number of employees as the base for allocating human resources department costs and department…
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Job Order Cost Accounting for a Service Company The Fly Company provides advertising services for clients across the nation. The Fly Company is presently working on four projects, each for a different client. The Fly Company accumulates costs for each account (client) on the basis of both direct costs and allocated indirect costs. The direct costs include the charged time of professional personnel and media purchases (air time and ad space). Overhead is allocated to each project as a percentage of media purchases. The predetermined overhead rate is 40% of media purchases. On August 1, the four advertising projects had the following accumulated costs: August 1 Balances Vault Bank $86,800 Take Off Airlines 26,000 Sleepy Tired Hotels 60,800 Tastee Beverages 37,300 Total $210,900 During August, The Fly Company incurred the following direct labor and media purchase costs related to preparing advertising for each of the four accounts: Direct Labor Media Purchases Vault Bank $57,800 $232,800…
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Job Order Cost Accounting for a Service Company The Fly Company provides advertising services for clients across the nation. The Fly Company is presently working on four projects, each for a different client. The Fly Company accumulates costs for each account (client) on the başis of both direct costs and allocated indirect costs. The direct costs include the charged time of professional personnel and media purchases (air time and ad space). Overhead is allocated to each project as a percentage of media purchases. The predetermined overhead rate is 50% of media purchases. On August 1, the four advertising projects had the following accumulated costs: August 1 Balances Vault Bank $68,700 Take Off Airlines 20,600 Sleepy Tired Hotels 48,100 Tastee Beverages 29,500 Total $166,900 During August, The Fly Company incurred the following direct labor and media purchase costs related to preparing advertising for each of the four accounts: Direct Labor Media Purchases Vault Bank $46,100 $173,800…
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determine if a profit center manager of a division of a picture frame manufacturer had control over each of the following costs and expenses: 1. cost of materials used for the division's production development 2. sales goals for the divisions top selling product 3. cost of employees hourly wage in the department answers- a. yes yes yes b. yes no yes c. no no yes d. yes yes no e. no yes no f. no no no
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Job Order Costing for a Service Company The Fly Company provides advertising services for clients across the nation. The Fly Company is presently working on four projects, each for a different client. The Fly Company accumulates costs for each account (client) on the basis of both direct costs and allocated indirect costs. The direct costs include the charged time of professional personnel and media purchases (air time and ad space). Overhead is allocated to each project as a percentage of media purchases. The predetermined overhead rate is 45% of media purchases. On August 1, the four advertising projects had the following accumulated costs: August 1 Balances $59,100 17,700 41,400 25,400 $143,600 Vault Bank Take Off Airlines Sleepy Tired Hotels Tastee Beverages Total During August, The Fly Company incurred the following direct labor and media purchase costs related to preparing advertising for each of the four accounts: Vault Bank Take Off Airlines Sleepy Tired Hotels Tastee Beverages…
Solomon Information Services, Incorporated, has two service departments: human resources and billing. Solomon's operating departments, organized according to the special Industry each department serves, are health care, retall, and legal services. The billing department supports only the three operating departments, but the human resources department supports all operating departments and the billing department. Other relevant information follows. Number of employees Annual cost Annual revenue Req A1 Human Resources Department Reg A2 Billing Health Care Retail Legal Services Total *This is the operating cost before allocating service department costs. Allocation Rate 20 Req B1 $ 900,000 Complete this question by entering your answers in the tabs below. x X Billing Required a. Allocate service department costs to operating departments, assuming that Solomon adopts the step method. The company uses the number of employees as the base for allocating human resources department costs and…