ACCOUTING PRIN SET LL INCLUSIVE
14th Edition
ISBN: 9781119815327
Author: Weygandt
Publisher: WILEY
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 25, Problem 6BE
To determine
Introduction:
A responsibility report is prepared by the management to determine the total cost being incurred in their respective controllable areas. This report is then transferred to successive departments (if any) and then submitted to the vice president.
To prepare: A responsibility report for the cost center.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the month of April 2020 were as follows.
Budget
Actual
Indirect materials
$15,300
$14,700
Indirect labor
19,800
20,300
Utilities
10,100
10,900
Supervision
5,800
5,800
All costs are controllable by the department manager.Prepare a responsibility report for April for the cost center.
HANNON COMPANYAssembly DepartmentManufacturing Overhead Cost Responsibility ReportFor the Month Ended April 30, 2020
Difference
Controllable Cost
Budget
Actual
FavorableUnfavorableNeither Favorablenor Unfavorable
Select an opening responsibility report item Indirect MaterialsIndirect LaborSupervisionUtilities
$Enter a dollar amount
$Enter a dollar amount
$Enter the difference
Select an option…
Also include controllable cost
In the Assembly Department of Concord Company, budgeted and actual manufacturing overhead costs for the month of April 2022
were as follows.
Indirect materials
Indirect labor
Utilities
Supervision
Budget
$18,240 $16,302
Controllable Cost
22,800
11,400
Actual
5,700
23,484
12,369
5,700
All costs are controllable by the department manager.
Prepare a responsibility report for April for the cost center.
Budget
CONCORD COMPANY
Assembly Department
Manufacturing Overhead Cost Responsibility Report
For the Year Ended April 30, 2022
Actual
Differenc
Favorable
Unfavorab
Neither Favol
nor Unfavori
Chapter 25 Solutions
ACCOUTING PRIN SET LL INCLUSIVE
Ch. 25 - Prob. 1QCh. 25 - Prob. 2QCh. 25 - Prob. 3QCh. 25 - 4. Ken Bay questions the usefulness of a master...Ch. 25 - Prob. 5QCh. 25 - Prob. 6QCh. 25 - Prob. 7QCh. 25 - Prob. 8QCh. 25 - Prob. 9QCh. 25 - Prob. 10Q
Ch. 25 - Prob. 11QCh. 25 - Prob. 12QCh. 25 - Prob. 13QCh. 25 - Prob. 14QCh. 25 - Prob. 15QCh. 25 - Prob. 16QCh. 25 - Prob. 17QCh. 25 - Prob. 18QCh. 25 - Prob. 19QCh. 25 - Prob. 20QCh. 25 - Prob. 21QCh. 25 - Prob. 22QCh. 25 - Prob. 23QCh. 25 - Prob. 24QCh. 25 - Prob. 25QCh. 25 - Prob. 26QCh. 25 - Prob. 1BECh. 25 - Prob. 2BECh. 25 - Prob. 3BECh. 25 - Prob. 4BECh. 25 - Prob. 5BECh. 25 - Prob. 6BECh. 25 - (LO 3) Torres Company accumulates the following...Ch. 25 - Prob. 8BECh. 25 - Prob. 9BECh. 25 - Prob. 10BECh. 25 - Prob. 11BECh. 25 - Prob. 12BECh. 25 - Prob. 1DIECh. 25 - Prob. 2DIECh. 25 - Prob. 3DIECh. 25 - Prob. 4DIECh. 25 - Prob. 1ECh. 25 - E24-2 Crede Company budgeted selling expenses of...Ch. 25 - Prob. 3ECh. 25 - Prob. 4ECh. 25 - Prob. 5ECh. 25 - Prob. 6ECh. 25 - Prob. 7ECh. 25 - Prob. 8ECh. 25 - Prob. 9ECh. 25 - Prob. 10ECh. 25 - Prob. 11ECh. 25 - Prob. 12ECh. 25 - Prob. 13ECh. 25 - Prob. 14ECh. 25 - Prob. 15ECh. 25 - Prob. 16ECh. 25 - Prob. 17ECh. 25 - Prob. 18ECh. 25 - Prob. 19ECh. 25 - Prob. 20ECh. 25 - Prob. 21ECh. 25 - Prob. 1PSACh. 25 - (LO 2) Zelmer Company manufactures tablecloths....Ch. 25 - Prob. 3PSACh. 25 - Prob. 4PSACh. 25 - Prob. 5PSACh. 25 - Prob. 6PSACh. 25 - Prob. 7PSACh. 25 - Service Green Pastures is a 400-acre farm on the...Ch. 25 - Prob. 2EYCTCh. 25 - Prob. 3EYCTCh. 25 - Prob. 4EYCTCh. 25 - Prob. 5EYCTCh. 25 - Prob. 7EYCT
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- John Sheng, a cost accountant at Starlet Company, is developing departmental factory overhead application rates for the companys Tooling and Fabricating departments. The budgeted overhead for each department and the data for one job are as follows: Using the departmental overhead application rates, total overhead applied to Job 231 in the Tooling and Fabricating departments will be: a. 225. b. 303. c. 537. d. 671.arrow_forwardGHT Tech Inc. sells electronics over the Internet. The Consumer Products Division is organized as a cost center. The budget for the Consumer Products Division for the month ended January 31 is as follows: During January, the costs incurred in the Consumer Products Division were as follows: Instructions 1. Prepare a budget performance report for the director of the Consumer Products Division for the month of January. 2. For which costs might the director be expected to request supplemental reports?arrow_forwardLonsdale Inc. manufactures entry and dining room lighting fixtures. Five activities are used in manufacturing the fixtures. These activities and their associated budgeted activity costs and activity bases are as follows: Corporate records were obtained to estimate the amount of activity to be used by the two products. The estimated activity-base usage quantities and units produced follow: a. Determine the activity rate for each activity. b. Use the activity rates in (a) to determine the total and per-unit activity costs associated with each product. Round to the nearest cent.arrow_forward
- please answer this with must explanation , computation , for each steps and each parts answer in text formarrow_forwardIn the Assembly Department of Cobb Company, budgeted and actual manufacturing overhead costs for the month of April 2010 were as follows. Budget Actual Indirect materials $15,000 $14,300 Indirect labor 20,000 20,600 Utilities 10,000 10,750 Supervision 5,000 5,000 All costs are controllable by the department manager. Prepare a responsibility report for April for the cost center.arrow_forwardIn the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the month of April 2017 were as follows. Budget Actual Indirect materials $16,000 $14,300 Indirect Labor 20,000 20,600 Utilities 10,000 10,850 Supeervision 5,000 5,000 All costs are controllable by the department manager. Prepare a responsibility report for April for the cost center.arrow_forward
- A company reports the following budgeted overhead costs and budgeted cost driver activity. Activity (Cost driver) Quality (number of units inspected) Factory services (square feet) Purchasing (number of orders) Activity Quality Factory services Purchasing Budgeted Cost $ 52,116 $ 123,216 $ 17,472 Use activity-based costing to compute the activity rate for each activity. Note: Round your "Activity Rate" to 2 decimal places. Budgeted Cost $ 52,116 123,216 17,472 Budgeted Activity of Cost Driver Standard Deluxe Total 3,180 860 3,820 2,220 188 228 Budgeted Activity Usage Activity Rate 4,040 6,040 416arrow_forward2arrow_forwardA company uses activity-based costing to determine the costs of its three products: A, B, and C. The budgeted cost and activity for each of the company's three activity cost pools are shown in the following table: BUDGETED ACTIVITY Budgeted Cost Product A $70,000 $45,000 $82,000 Activity Cost Pool Activity 1 Activity 2 Activity 3 How much overhead will be assigned to Product B using activity-based costing? Product B 9,000 15,000 1,000 6,000 7,000 2,500 Product C 20,000 8,000 1,625arrow_forward
- (a) Develop a physical flow schedule for the mixing department for the month of May. (b) Calculate the equivalent units of production for materials and conversion of the mixing department for the month of May. (c) Calculate the unit cost for materials and conversion of the mixing department for the month of May. (d) Calculate the costs of units transferred out and the cost of EWIP for the mixing department for the month of May. (e) Develop a cost reconciliation for the mixing department for the month of May.arrow_forwardiiarrow_forwardJefferson Company expects to incur $572,760 in manufacturing overhead costs during the current year. Other budget information follows: Direct labor hours Machine hours Department A 16,650 8,880 Required: a. Use direct labor hours as the cost driver to compute the allocation rate. Determine the amount of budgeted overhead cost for each department. b. Use machine hours as the cost driver to compute the allocation rate. Determine the amount of budgeted overhead cost for each department. c. Assume that Department A manufactured a product that required 160 direct labor hours and 85 machine hours. If overhead is allocated based on direct labor hours, how much overhead would be allocated to this product? d. Assume that Department A manufactured a product that required 160 direct labor hours and 85 machine hours. If overhead is allocated based on machine hours, how much overhead would be allocated to this product? Req A and B Req C and D Department B Department C 5,550 22, 200 11,100 13,320…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Managerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College PubFinancial And Managerial AccountingAccountingISBN:9781337902663Author:WARREN, Carl S.Publisher:Cengage Learning,
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub
Financial And Managerial Accounting
Accounting
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:Cengage Learning,
What is Cost Allocation? Definition & Process; Author: FloQast;https://www.youtube.com/watch?v=hLhvvHvZ3JM;License: Standard Youtube License