Use the information in the following table to compute each department's contribution to overhead (both in dollarsand as a percent). (Round Contribution percent to 1 decimal place.)SalesCost of goods soldGross profitTotal direct expensesContribution to overheadContribution percent (of sales)O Department AO Department BDepartment CDept. A$ 57,00035,91021,0905,820Dept. B$207,000107,64099,36044,200Which department contributes the largest dollar amount to total overhead?Department AO Department BO Department CDept. C$ 77,00040,81036,1909,146Which department contributes the highest percent (as a percent of sales) to total overhead?

Overhead: Overhead refers to the business expenses which are not directly related to the production…

Use the information in the following table to compute each department's contribution to overhead (both in dollars and as a percent). (Round Contribution percent to 1 decimal place.) Sales Cost of goods sold Gross profit Total direct expenses Contribution to overhead Contribution percent (of sales) Department A Department B O Department C Dept. A $ 57,000 35,910 21,090 5,820 Dept. B $ 207,000 O Department A O Department B Department C Dept. C $ 77,000 Which department contributes the largest dollar amount to total overhead? 107,640 40,810 99,360 36,190 44,200 9,148 Which department contributes the highest percent (as a percent of sales) to total overhead?

Use the information in the following table to compute each department's contribution to overhead (both in dollars and as a percent). (Round Contribution percent to 1 decimal place.) Sales Cost of goods sold Gross profit Total direct expenses Contribution to overhead Contribution percent (of sales) Department A Department B O Department C Dept. A $ 57,000 35,910 21,090 5,820 Dept. B $ 207,000 O Department A O Department B Department C Dept. C $ 77,000 Which department contributes the largest dollar amount to total overhead? 107,640 40,810 99,360 36,190 44,200 9,148 Which department contributes the highest percent (as a percent of sales) to total overhead?

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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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. Department Service 1 (S1) Service 2 (S2) Production 1 (P1) Production 2 (P2) Cost $ 47,000 37,000 270,000 320,000 Service Department Cost Allocation Total Cost Percentage Service Provided to P1 S1 0% 20 S2 20% 0 What is the total cost in P1 and P2 and what is the amount of service department cost allocated to P1 and P2 using the step method with S1 going first? P1 40% 20 P2 P2 40% 60
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Product Cost Flows Complete the following T-accounts: Materials Inventory 1,120 Answer Answer 18,120 250 Wages Payable 9,000 1,050 Finished Goods Inventory 1,500 Answer Answer 1,200 Manufactured Overhead 175 Answer Answer 18,000 4,500 0 Work in Process Inventory 3,500 Answer Answer 9,000 Answer 500 Cost of Goods Sold Answer Save AnswersNext
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