E. The following information relates to Wal-Mart Corporation for the past accounting periodCostDirectCenterCostProportion of Services used by:S1S2S3P1P2P3S1P120,00080,000.10.3025.20.15S2.2040.20.20S345,00078,00099,00045,000.60.35.05P1P2P323. What amount will be allocated by S1 to S2 under direct method?24. What amount will be allocated by S2 to P2 under direct method?25. How much is the total overhead costs in P3 after the allocation underdirect method?26. Under the step method which department will allocate its direct cost first?27. Under the step method which department will allocate its direct cost last?28. Using the algebraic method, how much is the total costs to be allocated byS1 to all departments?29. Using algebraic method, how much is the cost to be allocated by S3 to S2?30. What is the total cost to be allocated by the servicing departments toproducing departments?

E. The following information relates to Wal-Mart Corporation for the past accounting period Cost Direct Center Cost Proportion of Services used by: s1 S2 S3 P1 P2 P3 s1 P120,000 .10 .30 .25 .20 .15 S2 80,000 .20 .40 .20 .20 S3 .60 45,000 78,000 99,000 45,000 .35 .05 P1 P2 P3 _23. What amount will be allocated by S1 to S2 under direct method? 24. What amount will be allocated by S2 to P2 under direct method? 25. How much is the total overhead costs in P3 after the allocation under direct method?

E. The following information relates to Wal-Mart Corporation for the past accounting period Cost Direct Center Cost Proportion of Services used by: s1 S2 S3 P1 P2 P3 s1 P120,000 .10 .30 .25 .20 .15 S2 80,000 .20 .40 .20 .20 S3 .60 45,000 78,000 99,000 45,000 .35 .05 P1 P2 P3 _23. What amount will be allocated by S1 to S2 under direct method? 24. What amount will be allocated by S2 to P2 under direct method? 25. How much is the total overhead costs in P3 after the allocation under direct method?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Please do not give solution in image format thanku
Question 7 - HW 1 (Chapter 2) ezto.mheducation.com xtmap/index.html?_con=c ernal browser=081aunchUr=https253A232252E Saved Required information (The following information applies to the questions displayed below.] Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification Raw material Work in process Finished goods January 1, 20x1 $ 50,000 120,000 170,000 December 31, 20x1 $ 70,000 115,000 165,000 Durjng 20x1, the company purchased $250,000 of raw material and spent $400,000 on direct labor. Manufacturing overhead costs were as follows: Indirect material Indirect labor Depreciation on plant and equipment Utilities 12,000 26,000 100,000 26,000 30, 000 Other Sales revenue was $1,110,000 for the year. Selling and administrative expenses for the year amounted to $110.000, The firm's tax rate is 40 percent. 3. Prepare an income statement. Prisc Insert F8 F10 F11 F12 F9 24 & 4. 7 8. 10
9
Please answer asap
Owifix
vs
#becausesneaker.... HW CH 17 Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales Cost of merchandise sold Selling expenses Administrative expenses Income tax expense Custom Order Sales Cost of merchandise sold Selling expenses a. Prepare an income statement in comparative form, statin each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers. Administrative expenses Income tax expense $483,000 280,140 82,110 86,940 14,490 Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 Current year Amount $483,000 280,140 82,110 86,940 14,490 percentage points, and administrative expenses net income as a percent of sales Current year Percent % % % % % % $420,000 218,400 79,800 71,400 21,000 % % % Previous year Amount $420,000 218,400 79,800 71,400 21,000 Previous year Percent b.…
Answer in subparts: A. 0.57895 or 11:19 B. 0.90476 or 19:21 C. 0.3258 Note: Please answer d, e and f only.
Financial information is presented below: Operating Expenses $56000 Sales Revenue Cost of Goods Sold Gross profit would be $48000. $238000. $182000. $104000. 238000 134000
19. How much is the total distribution (selling) costs? a. 48,000 b. 56,000 C. 64,000 d. 108,000 20. How much is the total administrative expenses? a. 24,000 b. 132,000 C. 226,000 d. 668,000
32.The following data were related to ABC Corp. COST RETAILInventory, beg 5,000 6,000Purchases 69,000 90,000Freight 6,000Purchase returns 4,000 4,800Net mark-up 8,000Sales 100,000Sales returns 12,000How much is the cost ratio under the FIFO method? (Round in 5 decimal places) 75.23% 76.10% 76.18% 77.85%