Wildhorse Inc. has conducted the following analysis related to its product lines using a traditional costing system (volume-based) and an activity-based costing system. Both the traditional and activity-based costing systems include direct materials and direct labour costs. Product 440X Product 137Y Product 2495 Products (a) Sales Revenue $202,000 179,000 82,000 Your answer is correct. Operating income $ (b) Additional information related to product usage by these pools is as follows: eTextbook and Media Solution For each product line, calculate operating income using the traditional costing system. Traditional costing system Operating income Traditional eTextbook and Media Total Costs $55,000 63,000 25,000 Product 440X 147000 ABC $ Product 440X $50,002 59,056 33,942 For each product line, calculate operating income using the activity-based costing system. $ Product 137Y 116000 Activity-based costing system Product 137Y Product 2495 $ 57000 Product 2495

Wildhorse Inc. has conducted the following analysis related to its product lines using a traditional costing system (volume-based) and an activity-based costing system. Both the traditional and activity-based costing systems include direct materials and direct labour costs. Product 440X Product 137Y Product 2495 Products (a) Sales Revenue $202,000 179,000 82,000 Your answer is correct. Operating income $ (b) Additional information related to product usage by these pools is as follows: eTextbook and Media Solution For each product line, calculate operating income using the traditional costing system. Traditional costing system Operating income Traditional eTextbook and Media Total Costs $55,000 63,000 25,000 Product 440X 147000 ABC $ Product 440X $50,002 59,056 33,942 For each product line, calculate operating income using the activity-based costing system. $ Product 137Y 116000 Activity-based costing system Product 137Y Product 2495 $ 57000 Product 2495

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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Zina Manufacturing Company started and completed Job 501 in December with the following Job Cost Sheet and transferred it to the warehouse. Direct Materials Date Dec 17 Dec 30 Total Direct Labor Amount Date Amount $2,000 Dec 20 $4,000 8,000 Dec 30 3,800 Total Job Cost Sheet - Job No. 501 Total Cost The journal entry to record the transaction is A) WIP Inventory FG Inventory B) Cost of Goods Sold WIP Inventory C) FG Inventory WIP Inventory D) FG Inventory WIP Inventory Debit Credit 35,800 17,800 17,800 Manufacturing Overhead Date Amount Dec 24 $10,000 Dec 30 8,000 Total 35,800 35,800 17,800 17,800 35,800