es Prepare a responsibility accounting performance report for the snowmobile department. Note: Under budget amounts should be indicated by a minus sign. Totals Responsibility Accounting Performance Report Manager, Snowmobile Department For Year Ended December 31 Budgeted Controllable Costs Totals $ 0 $ Controllable Costs Actual 0 $ Prepare a responsibility accounting performance report for the ATV department. Note: Under budget amounts should be indicated by a minus sign. Responsibility Accounting Performance Report Manager, ATV Department For Year Ended December 31 Budgeted Actual Over (Under) Budget 0 Over (Under) Budget

es Prepare a responsibility accounting performance report for the snowmobile department. Note: Under budget amounts should be indicated by a minus sign. Totals Responsibility Accounting Performance Report Manager, Snowmobile Department For Year Ended December 31 Budgeted Controllable Costs Totals $ 0 $ Controllable Costs Actual 0 $ Prepare a responsibility accounting performance report for the ATV department. Note: Under budget amounts should be indicated by a minus sign. Responsibility Accounting Performance Report Manager, ATV Department For Year Ended December 31 Budgeted Actual Over (Under) Budget 0 Over (Under) Budget

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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School of Business and School of Education. Each of the operating departments uses the services of the company's two support departments: IT - Department and HR - Department. Additionally, the IT and HR departments use the services of each other. Data concerning the past year are as follows: Support Departments Operating Department IT HR School of School of Department HR - Dept. Business Education Total Budgeted Overhead Cost before any $437,500 $375,120 $ 825,250 $956,330 $2,594,200 departmental cost allocation Support work furnished by IT - Dept. Budgeted IT Salaries 0 $20,000 $80,000 $100,000 $200,000 Percentage 0 10.00% 40.00% 50.00% 100.00% Support work furnished by HR - Dept. Budgeted IT Service hours 1250 0 3,000 2,000 6, 250 Percentage 20.00% 0 48.00 % 32.00 % 100.00% Directions: 1. What are the total overhead costs of the operating departments (Business and Education) after the support - department costs of the IT Dept. and Human Resource Dept. have been allocated using (a)…
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Direct and step methods Salado Inc. provides cleaning services through its Residential and Commercial divisions. Support services of the company are provided by Personnel and Administration areas. Costs of these two areas are allocated to the revenue producing departments. Personnel costs are allocated using number of employees; administration costs are allocated using direct department costs. The following annual budgeted information (presented in a benefits- provided ranking) is available: Personnel Administration Residential Commercial Direct costs $420,000 Number of employees 36 Direct labor hours Square feet cleaned $540,000 $1,440,000 $2,400,000 90 216 180,000 1,350,000 144 270,000 1,710,000 a. Using the direct method, allocate the costs of Personnel and Administration to the Residential and Commercial divisions. Note: Do not round proportions; round your final answer to the nearest whole dollar. Total support costs allocated to Residential = $ Total support costs allocated to…
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Required information Use the following information for the Quick Studies below. (Algo) Rafner Manufacturing has the following budgeted data for its two production departments. Budgeted Data Overhead cost Direct labor hours Machine hours $ 1,358,900 Assembly 12,700 direct labor hours. 6,700 machine hours The departmental overhead rate for Assembly QS 17-7 (Algo) Computing departmental overhead rates LO P2 What is the Assembly department overhead rate using direct labor hours? What is the Finishing department overhead rate using machine hours? The departmental overhead rate for Finishing $ 1,068,800 Finishing 20,700 direct labor ho 16,700 machine hours
PART 3 Betty's Book and Music Store has two service departments, Warehouse and Data Centre. Warehouse Department costs of $175,000 are allocated on the basis of budgeted warehouse-hours. Data Centre Department costs of $75,000 are allocated based on the number of computer log-on hours. The costs of operating departments Music and Books are $125,000 and $150,000, respectively. Data on budgeted warehouse-hours and number of computer log-on hours are as follows: Support Departments Warehouse Production Departments Department Data Centre Department Music Books Budgeted costs $175,000 $75,000 $125,000 $150,000 Budgeted warehouse- NA 250 500 750 hours Number of computer hours 100 ΝΑ 400 500 Required: 1. Assign the support department costs to the production departments using: a. The Direct Method (3) b. The Step-Down Method assigning the Warehouse Department first (4) c. The Reciprocal Method using linear equations. (4)