Igloo corporation operates two stores A and B. the following relates to store B; Sales revenue 87,000 variable operating expenses 39,000 fixed expenses traceable to b and controllable by B 5,000 traceable to b and controllabe by others 22,000 The profit margin controllable by store B's manager os:

Igloo corporation operates two stores A and B. the following relates to store B; Sales revenue 87,000 variable operating expenses 39,000 fixed expenses traceable to b and controllable by B 5,000 traceable to b and controllabe by others 22,000 The profit margin controllable by store B's manager os:

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 4EA: The following information is from Daves Sporting Goods. Daves is a Midwest sporting goods store with...

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Igloo corporation operates two stores A and B. the following relates to store B;

Sales revenue 87,000

variable operating expenses 39,000

fixed expenses

traceable to b and controllable by B 5,000

traceable to b and controllabe by others 22,000

The profit margin controllable by store B's manager os:

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Pepper Depanment store aliocates ns service department espenses to s various operating sales) departments The folowing dats is avaitable for ts service departments Expense Dasts for allecation ADunt Rent Square feet of flnor space $47,000 47,000 62, 00 Advertising Amount of dollar sales Adainistrative Number of enployees The following information s aveitable for mu three opeating tuale departments Number of Department Square Feet 5,400 8, 100 13,500 Dollar Seles $ 302,000 $ 453, 00 S 755, 000 enployees 15 Totals 27,000 $3,510,000 What as the total expense allocated to Deparnment B Mutiple Choice $32.000 $42065 O s400 $42500 $40.000
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Lucia Company has two service departments: Office and Purchasing. Total expenses for the Office is $60,100 and for Purchasing is $43,000. Expenses for the Office are allocated to operating departments based on sales. Expenses for Purchasing are allocated to operating departments based on purchase orders. Purchase Orders 984 648 768 Department Вooks Sales $ 163,800 97,500 128,700 $ 390,000 Magazines Newspapers Total 2,400 Allocate the expenses from (a) the Office and (b) Purchasing to each of the company's three operating departments using the given information. Cost to be Allocated Office Allocation Base Percent of Allocation Base Allocated Cost Department Numerator Denominator % of Total Вooks Magazines Newspapers Totals Purchasing Cost to be Allocated Allocation Base Percent of Allocation Base Allocated Cost Department Numerator Denominator % of Total Вooks Magazines Newspapers Totals
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Garcia Company has two operating departments (Phone and Earbuds) and one service department (Office). Its departmental income statements follow. Indirect expenses and service department expenses consist of rent, utilities, and office department expenses. GARCIA COMPANY Departmental Income Statements For Year Ended December 31 Phone $ 140,000 68,600 71,400 Sales Cost of goods sold Gross profit Expenses Sales salaries Supplies used Depreciation Equipment Rent Utilities Share of office department expenses Total expenses Income 22,000 650 2,000 7,050 2,600 12,000 46,300 $ 25,100 Required: Prepare a departmental contribution to overhead report. Earbuds $ 95,000 58,900 36,100 7,400 350 900 3,780 2,300 5,000 19,730 $ 16,370 Combined $ 235,000 127,500 107,508 29,408 1,000 2,900 10,830 4,900 17,000 66,038 $ 41,470
Wayne, Inc. has four operating segments with the following information: Tables Bookcases Cabinets Chairs Sales to outsiders $ 2,600,000 $ 3,200,000 $ 5,350,000 $ 1,780,000 Intersegment transfer $ 380,000 $ 0 $ 125,000 $ 117,000 Segment expenses $ 1,900,000 $ 2,200,000 $ 4,480,000 $ 2,174,000 Segment assets $ 10,800,000 $ 12,000,000 $ 18,000,000 $ 3,500,000 Which operating segments are separately reportable under the revenue test?
Garcia Company has two operating departments (Phone and Earbuds) and one service department (Office). Its departmental income statements follow. Indirect expenses and service department expenses consist of rent, utilities, and office department expenses. GARCIA COMPANY Departmental Income Statements For Year Ended December 31 Sales Cost of goods sold Gross profit Expenses Sales salaries Supplies used Depreciation-Equipment Rent Utilities Share of office department expenses Total expenses Income Phone Earbuds Combined $ 200,000 98,000 $ 95,000 $ 295,000 58,900 102,000 36,100 156,900 138,100 20,000 8,700 28,700 1,150 450 1,600 2,100 300 2,400 7,060 3,840 10,900 2,700 1,800 4,500 10,500 4,500 43,510 19,590 $ 58,490 $ 16,510 15,000 63,100 $ 75,000 Required: Prepare a departmental contribution to overhead report. Garcia Company Departmental Contribution to Overhead For Year Ended December 31 Gross profit Direct expenses Phone Earbuds Combined 0 0 0 Total direct expenses 0 0 0 Departmental…