E23.14 (LO 3), AN The Mixing Department manager of Malone Company is able to control all overhead costs except rent, property taxes, and salaries. Budgeted monthly overhead costs for the Mixing Department, in alphabetical order, are: Indirect labor $12,000 Indirect materials Lubricants Maintenance 7,700 1,675 3,500 Property taxes Rent Salaries Utilities $ 1,000 1,800 a. Prepare a responsibility report for January 2025. b. What would be the likely result of management's analysis of the report? Compute micring amounte in rechonsibility reports for three brofit centers and trebare a rehort 10,000 5,000 Actual costs incurred for January 2025 are indirect labor $12,250, indirect materials $10,200, lubricants $1,650, maintenance $3,500, property taxes $1,100, rent $1,800, salaries $10,000, and utilities $6,400. Instructions

E23.14 (LO 3), AN The Mixing Department manager of Malone Company is able to control all overhead costs except rent, property taxes, and salaries. Budgeted monthly overhead costs for the Mixing Department, in alphabetical order, are: Indirect labor $12,000 Indirect materials Lubricants Maintenance 7,700 1,675 3,500 Property taxes Rent Salaries Utilities $ 1,000 1,800 a. Prepare a responsibility report for January 2025. b. What would be the likely result of management's analysis of the report? Compute micring amounte in rechonsibility reports for three brofit centers and trebare a rehort 10,000 5,000 Actual costs incurred for January 2025 are indirect labor $12,250, indirect materials $10,200, lubricants $1,650, maintenance $3,500, property taxes $1,100, rent $1,800, salaries $10,000, and utilities $6,400. Instructions

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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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1. FAN Company has the following data for the year 2021 (in thousand) January 1, 2021 December 31, 2021 Raw Materials Inventory $16,300 $15,000 Work-in-process Inventory $40,000 $40,110 Finished Goods Inventory $49,600 $44,256 During 2021 the amount of raw material purchased was $21,700 and direct labor costs incurred were $10,100. The finance department also provides the following additional data : Factory Machinery Rent 1,840 Indirect Materials $ 3,400 Delivery Expense $ 760 Factory Utilities $ 1,200 Depreciation on Factory Building 3,500 Sales Commissions $ 340 Administrative Expense $ 1,620 Factory Insurance $ 1,266 Sales Revenue $ 98,600 Factory Manager's Salary $ 2,240 Indirect Labor $ 5,670 Instructions: a. Prepare a cost of goods manufactured schedule for FAN Company for 2021! %24
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