Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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In divisional income statements prepared for Iguana Construction Company, the Payroll Department costs are charged back to user divisions on the basis of the number of payroll checks, and the Purchasing Department costs are charged back on the basis of the number of purchase requisitions. The Payroll Department had expenses of $62,704, and the Purchasing Department had expenses of $31,860 for the year. The following annual data for the Residential, Commercial, and Government Contract divisions were obtained from corporate records:
Residential
Commercial
GovernmentContract
Sales
$666,000
$883,000
$2,026,000
Number of employees:
Weekly payroll (52 weeks per year)
125
75
80
Monthly payroll
28
39
26
Number of purchase requisitions per year
2,300
1,600
1,500
Using the activity base information in (a), determine the annual amount of payroll and purchasing costs charged back to the Residential, Commercial, and Government Contract divisions from…
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Service Department Charges
In divisional income statements prepared for Iguana Construction Company, the Payroll Department costs are charged back to user divisions on the basis of the number of payroll checks, and the Purchasing Department costs are charged back on the basis of the number of purchase requisitions. The Payroll Department had expenses of $46,248, and the Purchasing Department had expenses of $26,840 for the year. The following annual data for the Residential, Commercial, and Government Contract divisions were obtained from corporate records:
Residential
Commercial
GovernmentContract
Sales
$561,000
$743,000
$1,707,000
Number of employees:
Weekly payroll (52 weeks per year)
130
70
75
Monthly payroll
28
39
26
Number of purchase requisitions per year
2,600
1,800
1,700
a. Determine the total amount of payroll checks and purchase requisitions processed per year by each division and the company in total.…
A government health care district incorporates its budget in its accounting system and encumbers all purchase orders and contracts. Prior to the start of the year, the governing board adopted a budget in which agency revenues were estimated at $5,600 and expenditures of $5,550 were appropriated. During the year, the following transactions incurred:
the government health care district collected $5,500 in fees, grants, taxes, and other revenues
It ordered goods and services for $3,000.
it received and paid for $2,800 of goods and services that had been previously encumbered. It expects to receive the remaining $200 in the following year.
It incurred $2500 in other expenditures for goods and services that had not been encumbered.
What is total fund balance at year end?
$500
$300
$200
None of above
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Excel Applications for Accounting Principles
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