Please do not give solution in image format thanku Required:a. Prepare a traditional income statement.b. Prepare an activity-based income statement.Complete this question by entering your answers in the tabs below.Required A Required BPrepare a traditional income statement.Total costsPrepare an activity-based income statement.CostsUnitBatchTraditional Income StatementProduct and customer sustainingCapacity sustainingTotal costsRequired AActivity-Based Income StatementUnusedResourceCapacityResourcesUsedResourcesSuppliedRequire Hosmer Industries provides the following information about resources and usage:Unused ResourcesCapacityResources usedMaterials.PowerSetupsPurchasingClient assistanceSupervisionFacility costResources suppliedMaterials$ 6,1003,8742,0604,58018,5008,4206,980$ 319,700Power46,578Setups58,66658,980PurchasingClient assistanceSupervision38,22073,188Facility cost111,140Sales revenue for Hosmer Industries is $850,000Required:a. Prepare a traditional income statement.b. Prepare an activity-based income statement.Required A Required BComplete this question by entering your answers in the tabs below.Prepare a traditional income statement.Cost Driver Volume6,400 pounds272 hoursTraditional Income Statement62 setups64 purchase orders40 inquiries256 labor-hours3,360 square meters

An income statement is a financial statement that helps in determining the net income earned or net…

Hosmer Industries provides the following information about resources and usage: Unused Resources Capacity $ 6,100 3,874 2,060 4,580 18,500 8,420 6,980 Resources used Materials Power Setups Purchasing Client assistance Supervision Facility cost Resources supplied Materials Power Setups Purchasing Client assistance $ 319,700 46,578 58,666 58,980 38,220 73,188 111,140 Supervision Facility cost Sales revenue for Hosmer Industries is $850,000 Cost Driver Volume 6,400 pounds 272 hours 62 setups 64 purchase orders 40 inquiries 256 labor-hours 3,360 square meters

Hosmer Industries provides the following information about resources and usage: Unused Resources Capacity $ 6,100 3,874 2,060 4,580 18,500 8,420 6,980 Resources used Materials Power Setups Purchasing Client assistance Supervision Facility cost Resources supplied Materials Power Setups Purchasing Client assistance $ 319,700 46,578 58,666 58,980 38,220 73,188 111,140 Supervision Facility cost Sales revenue for Hosmer Industries is $850,000 Cost Driver Volume 6,400 pounds 272 hours 62 setups 64 purchase orders 40 inquiries 256 labor-hours 3,360 square meters

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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LutoSave 日 Off UnitlILabAssignment_Question1 O Search (Alt-Q) Protected View Home Insert Draw Page Layout Formulas Data Review View Help PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing fx Formula: Multiply, Subtract; Cell Referencing A D E F G H. K Formula: Multiply, Subtract; Cell Referencing Using Excel to Record Stock Entries Student Work Area PROBLEM Required: Provide input into cells shaded in yellow in this template. Select account names from the drop-down lists. Use cell references to the data area. Use mathematical formulas to calculate any amounts not given. On May 10, Jack Corporation issues common stock for cash. Shares of stock issued Par value per share 2,000 24 %24 10.00 Amount at which stock issued 18.00 Journalize the issuance of the stock. 10 11 Date Debit Credit 12 May 10 13 14 15 16 17 18 19 20 21 22 23 25 26 27 28 29 30 31 32 33 Enter Answer Ready 24
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