Chapter)254Numbers 10 to 21 are based on the following data:serviceannualdepartments to the producing departments on the basideavailable:betterthat maintenance and engineering service hours be usedservice cost allocation basis. The following data wasProducing DepartmentsDept. BService DepartmentsDept. ADept. CMaintenance Engineering400Maintenance hoursEngineering hoursOverhead costs800800200400P90,000200400P50,000400P80,000P54,000P12,000p0ol method)whot 16. Under the direct method of cost allocation, what amount ofEngineering Department's cost would be allocated to DepartmentA?a. P20,800b. P27,000C. P54,000d. P -0-1. Under the step method of cost allocation, what amount of MaintenanceDepartment's cost is allocated to Engineering Department?a. P1,500b. P6,000c. P3.000d. P 0-

The cost of service departments can be allocated to various production departments using various…

Answered: mbers 10 to 21 are be JGG Company has…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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P1 P2 Department Service 1 (51) Service 2 (52) Production 1 (P1) Production 2 (P2) Required information [The following information applies to the questions displayed below.] The following information is departmental cost allocation with two service departments and two production departments. Cost $ 46,000 36,000 260,000 310,000 Total Cost Allocated CARIN Percentage Service Provided to 25 . $2 20% 40% 40% Do 30 What is the amount of service department cost allocated to P1 and P2 using the direct method? Saved
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Required Information [The following information applies to the questions displayed below.] Use the following information: P1 P2 Department Cost Service 1 (51) $115,000 Service 2 (52) 47,000 Production 1 375,000 (P1) Production 2 (P2) Total 246,000 $783,000 Percentage Service Provided to S1 0% S2 P1 P2 25% 30% 45% 20 60 20 0 What percentage of S1's costs is allocated to P1 and to P2 under the direct method? Service Department 1's Costs
QQWTWV844 Corporation uses the step-down method to allocate service department costs to operating departments. The company has three service departments and two operating departments. Data concerning those departments follow: Service Departments Janitorial $72,750 Operating Departments Binding $355,000 295 30,000 30,000 Admin. $162,500 Maintenance $39,000 Printing $430,000 Costs # of employees Sq. feet occ. Hours of press time 60 33 132 190 4,000 10,000 15,000 90,000 60,000 QQWTWV844's Admin. Department's costs are allocated on the basis of number of employees; Janitorial Department's costs are allocated on the basis of square feet occupied; Maintenance Department's costs are allocated on the basis of press time hours used. (ID#86342) Q: What is QQWTWV844's total Binding Department's cost (including its beginning cost) after all allocations? A: $
Applying Excel 13: Predetermined Overhead Rate ✓ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 A B Raw Materials Inventory 57,500 5,700 43,000 Finished Goods Inventory 216,000 Factory Overhead 14,800 61,000 52,300 6,000 Multiple Choice с =+C17/F11 =+C17/(SUM(B17:B19)) =+E5/E3 37,000 14.800 173,000 =+E5/E4 122,100 D E Assuming the company applies overhead as a percentage of direct labor cost, which formula accurately computes the predetermined overhead rate? Work in Process Inventory 37,000 216,000 111.000 122,100 54,100 Factory Wages Payable 172,000 0 111.000 ......... 61,000
A1
MANUFACTURNG OVERHEADS Thumamina Limited manufactures various produds that are produced in two production departments: Department Q and Department V. In addition to these two production departments, the company has a service department, which provides support to the production departments. The following additional information is available: Department Q Department V Service department Number of employees 150 100 Floor space 2050 m 1250 m2 1100 m2 Value of machinery R900 000 R300 000 R250 000 Kilowatt hours 1300 1000 400 Labour hours 5000 4 000 150 Machine hours 4 000 2 000 100 The budgeted manufacturing overheads for 2018 are as follows: Rent of building R1010 000 Electricity R95 000 Depreciation of machinery (based on machine hours) R230 000 Salaries of supervisors R380 500 Insurance buildings (based on value of machinery) R150 755 Indirect material: Department Q R88 000 Department V R35 000 Service department R27 000 Required Calculate the primary allocation of overheads per…
Indicator ' A 16 17 18 19 20 (1) $126,000 105,000 84,000 $200,000 D (2) $150,000 128,000 22,000 $138,000 E 1 2 Required: 3 Determine the missing amount for each separate situation involving work in process cost flows. 4 5 6 Total manufacturing costs 7 Work in process inventory, beginning 8 Work in process inventory, ending 9 Cost of goods manufactured 10 11 12 13 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work. 14 Nothing in this area will be graded, but it will be submitted with your assignment. 15 (3) $217,000 32,000 185,000 $237,000 F G H 1 J
of 4 1 int rences P1 P2 Department Service 1 (S1) Service 2 (52) Production 1 (P1) Production 2 (P2) Required information [The following information applies to the questions displayed below.] The following information is departmental cost allocation with two service departments and two production departments. Cost $ 46,000 36,000 260,000 310,000 Total Cost Allocated my paisaje co $1 300 BAUA Percentage Service Provided to 25 0% //////// Ben na mon What is the amount of service department cost allocated to P1 and P2 using the direct method? 52 20% 40% 0 BAHAN ******* W P2 40% Saved
Sh51
Q12. Given the following information, answer the questions given below: Raw Materials Debit Credit Balance 1/1 Debits Balance 12/31 16,000 Credits 122,000 26.000 Manufacturing Overhead Debit Credit Debits 233.800 Credits Work in Process Debit Credit Balance 1/1 Direct materials Direct labor 21,000 Credits 91,000 153,000 244,800 473,000 Overhead Balance 12/31 Factory Wages Payable Debit Credit Debits 187,000 Balance 1/1 Credits Balance 12/31 Finished Goods 9,500 182,000 4,500 Debit Credit Balance 1/1 Debits Balance 12/31 41,000 Credits 61,500 Cost of Goods Sold Debit Credit Debits Cost of raw materials b. Indirect materials Indirect labor cost а. х1 x2 с. x3 d. Cost of goods manufactured Unadjusted cost of goods sold Assume that overhead is applied to production on the basis of direct labor cost f. Predetermined overhead rate g. Amount of Manufacturing overhead (under/over)applied h. Was Manufacturing overhead (under/over)applied i. Ending balance in the work in process j. Direct…

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mbers 10 to 21 are be JGG Company has two service de ting of Producing Departments Dept. B Dept. A Dept. C Maintenance Engineering 400 Service Departments Maintenance hours Engineering hours 800 800 200 400 P90,000 200 400 P50,000 400 P80,000 P54,000 D12.000