esources (HR) department. The following data were collected for three relatively routin cent period: hiring, separations, and transfers (within Reisner facilities). Staff-hours Personnel actions completed iring Action Hiring 3,500 110 quired: Compute the partial productivity measures for labor for the three actions. ote: Round your answers to 3 decimal places. Partial Labor Productivity Separations 2,700 62 Transfers 3,900 110

esources (HR) department. The following data were collected for three relatively routin cent period: hiring, separations, and transfers (within Reisner facilities). Staff-hours Personnel actions completed iring Action Hiring 3,500 110 quired: Compute the partial productivity measures for labor for the three actions. ote: Round your answers to 3 decimal places. Partial Labor Productivity Separations 2,700 62 Transfers 3,900 110

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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Woodstock Binding has two service departments, IT (Information Technology) and HR (Human Resources), and two operating departments, Publishing and Binding. Management has decided to allocate IT costs on the basis of IT Tickets (issued with each IT request) in each department and HR costs on the basis of employees in each department. The following data appear in the company records for the current period: IT tickets Employees Department direct costs IT 0 24 $ 151,600 HR 1,520 0 $ 247,860 Publishing 2,432 36 $430,800 Binding 2,128 60 $ 392,000 Required: Allocate the service department costs using the reciprocal method. (Matrix algebra is not required because there are only two service departments.) Note: Amounts to be deducted should be indicated by a minus sign. Do not round intermediate calculations.
The subject is Managerial Accounting
What is the correct choice? Field Legal Services is trying to determine the variable and fixed elements of its service overhead. The following data have been collected from recent activity: Total Service Overhead Cases Worked March $22,900 112 April 20,800 98 May 26,400 138 The formula for total service overhead costs is a. $5,600 + $140 per case. b. $5,600 + $40 per case. c. $7,823 + $134.62 per case. d. $7,080 + $140 per case.
Great job! Western Services has three service departments: Information Systems (IS), Personnel, and Administration. There are two operating departments: Residential and Commercial. A summary of costs and other data for each department prior to allocation of service department costs for the latest period follows: IS Personnel Administration Residential Commercial Number of IS service tickets 125 155 110 1,410 940 Number of employees 70 75 62 138 162 Square footage occupied 3,900 8,000 3,800 16,100 69,500 The costs of the service departments and the allocation basis for each department follow. Department Direct Cost Allocation Base Information Systems (IS) $ 24,000 IS service tickets Personnel 31,000 Employees Administration 27,700 Square footage occupied REQUIRED D AMOUNT: ??
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The weekly time records indicate the following distribution of labor hours for three direct labor employees: Hours Hours Hours Hours Process Job 560A Job 560B Job 560C Improvement Eva Leavitt 23 14 9 Micah Stone 10 18 11 Travis Hendrix 11 13 11 The direct labor rate earned per hour by the three employees is as follows: Leavitt Stone $18 25 21 4 N 3 Hendrix The process improvement category includes training, quality improvement, housekeeping, and other indirect tasks. a. Determine the amounts of factory labor costs transferred to Work in Process and Factory Overhead for the week. Factory labor costs transferred to Work in Process Factory labor costs transferred to Factory Overhead 2,568 X 155 X
Your company uses an activity-based costing system for its overhead costs. Thefollowing data is from its activity-based costing system. Activity Cost Pools Activity Rate Construction ........... $35.50 Per DLH Office support....... $580.00 Per Order Customer Support........ $250.00 Per Customer Revenue related to job $35,000.00 Number of orders 5 Traceable costs........ $7,500 DLH used 635 What is customer margin for this client? (Round to the nearest dollar if necessary.) Group of answer choices $25,693 $1,808 $9,308 $2,058
Cost accumulation; assigning costs to jobs The law firm of Taub & Lawson, LLP, currently has four cases in process. Following is information related to those cases as of the end of March: Case #1 Case #2 Case #3 Case #4 $864 $15,840 $6,660 $1,530 40 12 Direct material Direct labor hours Estimated court hours Taub & Lawson allocates overhead to cases based on a predetermined rate of $270 per estimated court hour. The charge for direct labor each hour is $342. Total cost $ 90 65 70 120 15 40 a. Determine the total cost assigned to each case as of March 31. Case #1 Case #2 Case #3 Case #4 3,240 x $ 17,550 * $ 32,400 x $ 10,800 × b. Case #3 was completed at the end of April. At that time, $18,180 of direct materials had been used and 174 direct labor hours had been incurred. Of the DLHs, 72 had been spent in court. Taub & Lawson's policy is to charge clients actual costs plus 45 percent. What amount will be billed to the client involved in Case #3? Note: Round your final answer to the…
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Woodstock Binding has two service departments, IT (Information Technology) and HR (Human Resources), and two operating departments, Publishing and Binding. Management has decided to allocate IT costs on the basis of IT Tickets (issued with each IT request) in each department and HR costs on the basis of employees in each department. The following data appear in the company records for the current period: IT tickets Employees Department direct costs. IT HR 0 16 1,525 0 Publishing 2,440 24 $ 152,000 $ 247,950 $ 431,000 Binding 2,135 40 $ 392,500 Woodstock Binding estimates that the variable costs in the IT Department total $112,500, and in the HR Department variable costs to $142,500. Avoidable fixed costs in the IT Department are $18,250. Required: If Woodstock Binding outsources the IT Department functions, what is the maximum it can pay an outside vendor without increasing total costs? Note: Do not round intermediate calculations. × Answer is complete but not entirely correct. Maximum…
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Entry for Factory Labor Costs The weekly time tickets indicate the following distribution of labor hours for three direct labor employees: Hours Process Job 301 Job 302 Job 303 Improvement Tom Couro 17 11 7 4 David Clancy 8 18 13 Jose Cano 13 13 10 5 The direct labor rate earned per hour by the three employees is as follows: Tom Couro $18 David Clancy 25 Jose Cano 21 The process improvement category includes training, quality improvement, and other indirect tasks. a. Journalize the entry to record the factory labor costs for the week. If an amount box does not require an entry, leave it blank. b. Assume that Jobs 301 and 302 were completed but not sold during the week and that Job 303 remained incomplete at the end of the week. How would the direct labor costs for all three jobs be reflected on the financial statements at the end of the week? The direct labor costs for the completed jobs would become part of the . The direct labor costs for Job 303 would be remain part of the