Variable Medical Services Department costs are budgeted at $56 per employee. Fixed Medical Services Department costs are budgeted at $697,500 per year. Actual Medical Services Department costs for the most recent year were $105,400 for variable costs and $703,000 for fixed costs. Data concerning employees in the three operating departments follow: Budgeted number of employees Actual number of employees for the most recent year Long-run average number of employees Required 1 Required 2 Cutting 617 517 1,020 Medical services department charges Cutting Required: 1. Determine the Medical Services Department charges for the year to each of the operating departments-Cutting, Milling, and Assembly. 2. How much, if any, of the actual Medical Services Department costs for the year should be treated as a spending variance and not charged to the operating departments? Complete this question by entering your answers in the tabs below. Milling 283 383 680 < Required 1 Assembly 905 Determine the Medical Services Department charges for the year to each of the operating departments-Cutting, Milling, and Assembly. Milling 805 1,700 Assembly Required 2 >

Variable Medical Services Department costs are budgeted at $56 per employee. Fixed Medical Services Department costs are budgeted at $697,500 per year. Actual Medical Services Department costs for the most recent year were $105,400 for variable costs and $703,000 for fixed costs. Data concerning employees in the three operating departments follow: Budgeted number of employees Actual number of employees for the most recent year Long-run average number of employees Required 1 Required 2 Cutting 617 517 1,020 Medical services department charges Cutting Required: 1. Determine the Medical Services Department charges for the year to each of the operating departments-Cutting, Milling, and Assembly. 2. How much, if any, of the actual Medical Services Department costs for the year should be treated as a spending variance and not charged to the operating departments? Complete this question by entering your answers in the tabs below. Milling 283 383 680 < Required 1 Assembly 905 Determine the Medical Services Department charges for the year to each of the operating departments-Cutting, Milling, and Assembly. Milling 805 1,700 Assembly Required 2 >

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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33) Everyone Deserves to Smile mobile dentist office budgeted for 4365 patient visits a year. Everyone Deserves to Smile actually saw 4400 patients during the year and they have provided the following data: Revenue Personnel Expenses Medical Supplies Occupancy Expenses Admin Expenses Fixed Portion for Budget A) Cannot be determined C) $2000 Favorable $80,000 $12,000 $19,000 Variable Portion per patient visit for Budget $67 $13 $1.75 $0.25 Based on the given information, what is the volume variance for personnel expenses? Actual Results B) $0 D) $2000 Unfavorable $417,000 $78.000 $38.200 $18.000 $19,650 33)
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Earnings per share Financial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow: 20Y5 20Y6 Net income $1,761,000 $2,555,500 Preferred dividends $60,000 $60,000 Average number of common shares outstanding 90,000 shares 115,000 shares a. Determine the earnings per share for 20Y5 and 20Y6. Round to two decimal places. 20Y5 20Υ6 Earnings per Share $ b. Is the change in the earnings per share from 20Y5 to 20Y6 favorable or unfavorable?
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Graded HW i Fixed Budget For Year Ended December 31 $ Sales 3,171,000 Costs Direct materials 996,600 Direct labor 226,500 Sales staff commissions 60,400 Depreciation-Machinery 295,000 Supervisory salaries 203,000 Shipping 226,500 Sales staff salaries (fixed annual 250,000 amount) Administrative salaries 556,450 Depreciation-Office equipment 198,000 Income $ 158,550 Saved Required: 1&2. Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,100 units. Prepare a simple budgeted income statement if 18,100 units are sold. Complete this question by entering your answers in the tabs below. Req 1 Req 3 and 2 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping Total variable costs Contribution margin Fixed costs PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible…
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Shawke Company's partially completed flexible overhead budget for the current period follows. This budget is based on its predicted activity of 50% of productive capacity. Complete its flexible overhead budgets for the current period using 1,950, 3,900, and 5,850 units of productive capacity. For Year Ended December 31 Production (in units) Overhead costs Total variable overhead Total fixed overhead Total overhead costs Flexible Overhead Budgets Total Fixed Cost Variable Amount per Unit $ 12 $ 17,900 Flexible Budget at Capacity Level of 25% 50% 75% 1,950 3,900 5,850
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