Mack Precision Tool and Die has two production departments, Fabricating and Finishing, and two service departments, Repair andQuality Control. Direct costs for each department and the proportion of service costs used by the various departments for the month ofMarch follow:DepartmentFabricatingFinishingRepairQuality ControlDirect Costs Repair$ 149,600112, 20048,30090,300Required A00.8Required BProportion of Services Used byQualityControlFabricatingRequired:Use the step method to allocate the service costs, using the following:0.20a. The order of allocation starts with Repair.b. The allocations are made in the reverse order (starting with Quality Control).Complete this question by entering your answers in the tabs below.0.60.1Cost Allocation To:Finishing0.20.1Use the step method to allocate the service costs, using the following:The order of allocation starts with Repair.Note: Amounts to be deducted should be indicated by a minus sign. Do not round intermediate calculations.M Required:Use the step method to allocate the service costs, using the following:a. The order of allocation starts with Repair.b. The allocations are made in the reverse order (starting with Quality Control).Complete this question by entering your answers in the tabs below.Required A Required BUse the step method to allocate the service costs, using the following:The order of allocation starts with Repair.Note: Amounts to be deducted should be indicated by a minus sign. Do not round intermediate calculations.From:Service department costsRepairQuality controlTotal costs allocatedRepairCost Allocation To:QualityControl< Required AFabricatingFinishingRequired B >

The question is based on the concept of Cost Accounting: Under step method of allocating service…

Mack Precision Tool and Die has two production departments, Fabricating and Finishing, and two service departments, Repair and Quality Control. Direct costs for each department and the proportion of service costs used by the various departments for the month March follow: Department Fabricating Finishing Repair Quality Control Direct Costs Repair $ 149,600 112, 200 48,300 90,300 0 0.8 Proportion of Services Used by Quality Control Fabricating 0.2 Required: Use the step method to allocate the service costs, using the following: a. The order of allocation starts with Repair. 0.6 0.1 Finishing 0.2 0.1 M

Mack Precision Tool and Die has two production departments, Fabricating and Finishing, and two service departments, Repair and Quality Control. Direct costs for each department and the proportion of service costs used by the various departments for the month March follow: Department Fabricating Finishing Repair Quality Control Direct Costs Repair $ 149,600 112, 200 48,300 90,300 0 0.8 Proportion of Services Used by Quality Control Fabricating 0.2 Required: Use the step method to allocate the service costs, using the following: a. The order of allocation starts with Repair. 0.6 0.1 Finishing 0.2 0.1 M

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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Mack Precision Tool and Die has two production departments, Fabricating and Finishing, and two service departments, Repair and Quality Control. Direct costs for each department and the proportion of service costs used by the various departments for the month of March follow: Required: Use the reciprocal method to allocate the service costs. (Matrix algebra is not required.) Note: Amounts to be deducted should be indicated by a minus sign. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amounts.
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Mack Precision Tool and Die has two production departments, Fabricating and Finishing, and two service departments, Repair and Quality Control. Direct costs for each department and the proportion of service costs used by the various departments for the month of March follow: Department Fabricating Finishing Repair Quality Control Proportion of Services Us by Quality Direct Costs Repair $ 130,600 90, 200 38,400 71, 600 0 0.8 Control Fabricating Finishing 0.2 0 Required: Use the step method to allocate the service costs, using the following: 0.5 0.1 a. The order of allocation starts with Repair. b. The allocations are made in the reverse order (starting with Quality Control). 0.3 0.1
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Please help I am having issues solving this problem, Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in three separate departments: Molding, Assembling, and Packaging. The following information was obtained for the Assembling Department for the month of April. Work in process on April 1 had 108,000 units made up of the following. Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 147,960 100 % Costs added by the Assembling Department Direct materials $ 97,200 100 % Direct labor 35,696 60 % Manufacturing overhead 22,244 50 % $ 155,140 Work in process, April 1 $ 303,100 During April, 508,000 units were transferred in from the Molding Department at…
Please heklp I am having issues solving this problem Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in three separate departments: Molding, Assembling, and Packaging. The following information was obtained for the Assembling Department for the month of April. Work in process on April 1 had 110,000 units made up of the following. Amount Degree of Completion Prior department costs transferred in from the Molding Department $ 152,900 100 % Costs added by the Assembling Department Direct materials $ 89,100 100 % Direct labor 37,540 60 % Manufacturing overhead 25,070 50 % $ 151,710 Work in process, April 1 $ 304,610 During April, 510,000 units were transferred in from the Molding Department at…
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