Required information[The following information applies to the questions displayed below.]Use the following information:P1P2DepartmentService 1 (51)Service 2 (S2)Production 1 (P1)Production 2 (P2)TotalServiceDepartment1's CostsCost$ 130,00062,000525,000396,000$ 1,113,0001/31/3Percentage ServiceProvided toS10%205225%0What percentage of S1's costs is allocated to P1 and to P2 under the direct method? (Round your answer to the nearest fractionP130%20P245%60

Under the direct method, the service department costs are allocated directly to the production or…

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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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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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Please Answer part 4. Part 1-3 answers Part 1 Computation of Cost Allocation Rate for each activity: Activity Costs Base usage Allocation rate Material Handling 160,000 20,000 8 Packaging 390,000 2,000 195 Quality Assurance 112,000 1,600 70 Total 662,000 Part 2 Activity Usage of All Activities: Activity Commercial Travel Total Material Handling 8700 4450 13,150 Packaging 900 300 1,200 Quality Assurance 270 370 640 Allocation of Cost basis Usage: Activity Commercial Travel Material Handling 69,600 35600 (Activity Usage * Cost Allocation Rate) (8,700 * 8) (4450 * 8) Packaging 175,500 58500 Quality Assurance 18,900 25900 Total 264,000 120000 Units Produced 3,000 20000 Cost Per Unit 88 6 Part 3 Particulars Commercial Travel Usage of…
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-/1 Question 12 View Policies Current Attempt in Progress Thomsen Computer Company produces three products: Earth, Wind, and Fire. Earth requires 80 machine setups, Wind requires 60 setups, and Fire requires 180 setups. Thomsen has identified an activity cost pool with allocated overhead of $1500000 for which the cost driver is machine setups. How much overhead is assigned to each product? Fire Wind Earth $843750 $281250 $375000 $234375 $703125 $312500 $500000 $500000 $500000 $281250 $500000 $718750
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Required information [The following information applies to the questions displayed below.] Felix & Company reports the following information. Period Total Costs $ 2,515 3,235 Y= 1234567899 10 Units Produced 0 400 800 1,200 1,600 2,000 2,400 2,800 3,200 3,600 3,955 4,675 5,395 6,115 6,835 7,555 8,275 8,995 Use spreadsheet software to use ordinary least-squares regression to estimate the cost equation, including fixed and variable cost amounts. X
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
Question 2 (L03) Yates Corp. wants to develop a cost equation for its administrative costs. The controller believes the appropriate cost driver is units produced. Last year's data are presented below: Month January February March April May June July August September October November December Total Average Units produced 32,500 37,700 24,700 40,300 49,400 42,900 53,300 45,500 26,000 48,100 61,100 54,600 516,100 43,008 Administrative Costs $24,288 27,720 17,820 30,360 37,290 29,040 32,670 30,030 20,460 34,320 40,920 36,630 $361.548 $30,129 Required: (a.) What is the equation for administrative costs using the high-low method? (b.) Prepare an estimate of administrative costs for a month when 30,000 units are produced.
S [The following information applies to the questions displayed below.] Hosmer Industries provides the following information about resources and usage: Resources used Materials Power Setups Purchasing Client assistance Supervision Facility cost Resources supplied Materials Power Setups Purchasing Client assistance Supervision Facility cost Unused Resources Capacity $ 6,600 3,924 2,160 4,680 18,600 8,520 7,080 $ 352,200 47,988 59,076 62, 280 38,520 74,568 128,040 Required: a. Compute the cost driver rate for each resource. Cost Driver Volume 6,400 pounds 272 hours 62 setups 64 purchase orders 40 inquiries 256 labor-hours 3,360 square meters

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