Required information[The following information applies to the questions displayed below.]Arctica manufactures snowmobiles and ATVs. These products are made in different departments, and each departmenthas its own manager. Each responsibility performance report includes only those costs that the department manager cancontrol: direct materials, direct labor, supplies used, and utilities.For Year Ended December 31Direct materialsDirect laborDepartment manager salariesSupplies usedUtilitiesRentTotalsControllable CostsDirect materialsDirect laborSupplies usedUtilitiesBudgetedSnowmobile$ 19,50010,400Prepare a responsibility accounting performance report for the ATV department.Note: Under budget amounts should be indicated by a minus sign.Responsibility Accounting Performance ReportManager, ATV DepartmentFor Year Ended December 3110,4003,300360Budget4,3003,3003605,700$ 43,560$ActualATV27,50020,5005,2009005406,300$ 60,94019,420 $10,6603,170330< Prev$Over (Under)Budget2(80)260(130)(30)Snowmobile$ 19,42010,6604,4003,1703305,300$ 43,280Actualof 7ATV$ 28,82021,2404,4009205006,300$ 62,180Next >

Responsibility accounting is one of the branches of modern costing systems that majorly applies to…

Required information [The following information applies to the questions displayed below.] Arctica manufactures snowmobiles and ATVs. These products are made in different departments, and each department has its own manager. Each responsibility performance report includes only those costs that the department manager car control: direct materials, direct labor, supplies used, and utilities. Budget For Year Ended December 31 Direct materials Direct labor Department manager salaries Supplies used Utilities Rent Totals Controllable Costs Direct materials Direct labor Prepare a responsibility accounting performance report for the ATV department. Note: Under budget amounts should be indicated by a minus sign. Supplies used Utilities Responsibility Accounting Performance Report Manager, ATV Department For Year Ended December 31 Snowmobile $ 19,500 10,400 4,300 3,300 360 5,700 $ 43,560 Budgeted 10,400 3,300 360 $ Actual 19,420 10,660 3,170 330 ATV $ 27,500 20,500 5,200 900 540 6,300 $ 60,940 < Prev Over (Under) Budget $ SN (80) 260 (130) (30) Snowmobile $ 19,420 10,660 4,400 3,170 330 5,300 $ 43,280 of 7 Actual ‒‒‒ ATV $ 28,820 21,240 4,400 920 500 6,300 $ 62,180 Next >

Required information [The following information applies to the questions displayed below.] Arctica manufactures snowmobiles and ATVs. These products are made in different departments, and each department has its own manager. Each responsibility performance report includes only those costs that the department manager car control: direct materials, direct labor, supplies used, and utilities. Budget For Year Ended December 31 Direct materials Direct labor Department manager salaries Supplies used Utilities Rent Totals Controllable Costs Direct materials Direct labor Prepare a responsibility accounting performance report for the ATV department. Note: Under budget amounts should be indicated by a minus sign. Supplies used Utilities Responsibility Accounting Performance Report Manager, ATV Department For Year Ended December 31 Snowmobile $ 19,500 10,400 4,300 3,300 360 5,700 $ 43,560 Budgeted 10,400 3,300 360 $ Actual 19,420 10,660 3,170 330 ATV $ 27,500 20,500 5,200 900 540 6,300 $ 60,940 < Prev Over (Under) Budget $ SN (80) 260 (130) (30) Snowmobile $ 19,420 10,660 4,400 3,170 330 5,300 $ 43,280 of 7 Actual ‒‒‒ ATV $ 28,820 21,240 4,400 920 500 6,300 $ 62,180 Next >

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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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 Employees Department direct costs. IT HR 0 16 1,525 0 Publishing 2,440 24 $ 152,000 $ 247,950 $ 431,000 Binding 2,135 40 $ 392,500 Woodstock Binding estimates that the variable costs in the IT Department total $112,500, and in the HR Department variable costs to $142,500. Avoidable fixed costs in the IT Department are $18,250. Required: If Woodstock Binding outsources the IT Department functions, what is the maximum it can pay an outside vendor without increasing total costs? Note: Do not round intermediate calculations. × Answer is complete but not entirely correct. Maximum…
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