Required: 1-a. Complete the table column "Write-Down per Item" and then sum the final column. 1-b. Compute the amount of the total write-down when the LCM/NRV rule is applied to each item. Complete this question by entering your answers in the tabs below. Reg 1A Req 1B Complete the table column "Write-Down per Item" and then sum the final column. Unit Cost NRV per Write-down Quantity on Hand Total Write- down Item (FIFO) Item per Item Alligator Armoires Bear Bureaus 60 $ 55 70 45 45 45 Cougar Credenzas 24 30 50 Dingo Cribs Elephant Dressers 38 38 40 45 37 65

Required: 1-a. Complete the table column "Write-Down per Item" and then sum the final column. 1-b. Compute the amount of the total write-down when the LCM/NRV rule is applied to each item. Complete this question by entering your answers in the tabs below. Reg 1A Req 1B Complete the table column "Write-Down per Item" and then sum the final column. Unit Cost NRV per Write-down Quantity on Hand Total Write- down Item (FIFO) Item per Item Alligator Armoires Bear Bureaus 60 $ 55 70 45 45 45 Cougar Credenzas 24 30 50 Dingo Cribs Elephant Dressers 38 38 40 45 37 65

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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H3. Account
Chapter 1: Applying Excel: Excel Worksheet (Part 1 of 2) Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell C18 enter the formula "= B6". After entering formulas in all of the cells that contained question marks, verify that the dollar amounts in both the traditional and contribution format income statements match the numbers in Exhibit 1-7. Check your worksheet by changing the variable selling cost in the Data area to $900, keeping all of the other data the same as in Exhibit 1-7. If your worksheet is operating properly, the net operating income under the traditional format income statement and under the contribution format income statement should now be $700 and the contribution margin should now be $4,700. If you do not get these answers, find the errors in your worksheet and correct them. Save your completed Applying Excel form to your computer and then upload it here by clicking “Browse.” Next, click…
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2. Change all of the numbers in the data area of your worksheet so that it looks like this: A 1 Chapter 3: Applying Excel 2 3 Data 4 Allocation base 5 Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost 8 Actual total amount of the allocation base 6 7 Predetermined overhead rate Machine-hours $ B $ с 409,200 62,000 machine-hours 418,200 60,000 machine-hours If your formulas are correct, you should get the correct answers to the following questions. (a) What is the Predetermined overhead rate? (Round your answer to 2 decimal places.) per machine-hour
CS_3_QA2_PIR: Req 2A: Compute the unit product cost for Year 1, Year 2, and Year 3. Unit Product Cost Year 1 Year 2 Year 3 Req 2B: Prepare an income statement for Year 1, Year 2, and Year 3. O’Brien Company Variable Costing Income Statement Year 1 Year 2 Year 3 Variable expenses: Total variable expenses Fixed expenses: Total fixed expenses
Required information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Work in process inventory, beginning. Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses. Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Garcon Company $ 12,700 18,800 8,900 27,500 21,600 20,150 23,800 7,600 11,400 24,500 14,200 7,700 43,500 53,200 294,720 30,000 15,200 Pepper Company $ 19,750 22,350 14,700 23,500 44,200 14,100 18,400 9,600 16,250 52,000 13,120 3,700 58,000 54,700 391,1801 24,200 20,700 1. Compute the total prime costs for both Garcon Company and Pepper Company. 2. Compute the total conversion…
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c. Prepare the appropriate adjusting entry, if required, based on your calculations in (b).
Please help me with Req 4. If someone can help I will give a thumbs up. If you zoom in I believe the image should beome clearer. Thanks!
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 Esployees Department direct costs a. The order of allocation starts with IT. b. The order of allocation starts with HR. Show Transcribed Text IT From: Service department costs IT 0 HR Total costs 16 $ 156,000 Required: Use the step method to allocate the service costs, using the following: $ HR 1,700 0 $ 266,200 Complete this question by entering your answers in the tabs below. Publishing 1,700 24 Required A Required B Use the step method to allocate the service costs, using the following: The order of allocation starts with IT. Note: Amounts to be deducted should be…