MANAGERIAL ACCOUNTING-W/ACCESS >C<
22nd Edition
ISBN: 9781307839302
Author: Garrison
Publisher: MCG/CREATE
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Textbook Question
Chapter 3.A, Problem 5P
PROBLEM 3A-5 Transaction Analysis LO3-5
Star Videos, Inc., produces short musical videos for sale to retail outlets. The company's
Because the videos differ in length and in complexity7 of production, the company uses a job-order costing system to determine the cost of each video produced. Studio (manufacturing)
Required:
- Using Exhibit 3A-1 as your guide, prepare a transaction analysis that records all of the above transactions. Calculate the ending balances at December 31 for all balance sheet accounts.
- Using Exhibit 3A-3 as your guide, prepare a schedule of cost of goods manufactured for the year. If done correctly', your cost of goods manufactured should equal what amount mentioned in the transactions above9
- Using Exhibit 3A-4 as your guide, prepare a schedule of cost of goods sold for the year. If done correctly', your unadjusted cost of goods sold should equal what amount mentioned in the transactions above9
- Using Exhibit 3A-5 as your guide, prepare an income statement for the year.
- Film, costumes, and similar raw materials purchased on account SI83,000.
- Film, costumes, and other raw materials issued to production, S210,000 (85% of this material was considered direct to the videos in production, and the other 15% was considered indirect).
- Utility costs incurred (on account) in the production studio, S78,000.
Depreciation recorded on the studio, cameras, and other equipment, S82,000. Three-fourths of this depreciation related to actual production of the videos, and the remainder related to equipment used in marketing and administration
- Advertising expense incurred (on account), S13L000.
- Salaries and wages paid in cash as follows:
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Question 4.1
For its overhead costs, the wholesale distributor Janz Company uses activity-based costing. In terms of
the company's annual overhead costs and its activity-based costing system the following data has been
provided:
Overhead Costs:
Wages and salaries
$380,000
Non-wage expenses
90,000
Total
$470,000
Distribution of Resource Consumption:
Activity Cost Pools
Filling Orders
Product Support
Other
Total
Wages and salaries
20%
65%
15%
100%
Non-wage expenses
25%
15%
60%
100%
The "Other" activity cost pool consists of the costs of idle capacity and organization-sustaining costs.
Shown below is the amount of activity for the year:
Activity Cost Pool
Filling orders
Product support
Annual Activity
3,100 orders
32 products
Not applicable
Other
Instructions:
Compute the activity rates for the Filling Orders and Product Support activity cost pools.
Question 10?
Please do not give solution in image format thanku
Chapter 3 Solutions
MANAGERIAL ACCOUNTING-W/ACCESS >C<
Ch. 3.A - EXERCISE 3A-1 Transaction Analysis LO3-5 Carmen...Ch. 3.A - EXERCISE 3A-2 Transaction Analysis LO3-5 Adams...Ch. 3.A - EXERCISE 3A-3 Transaction Analysis LO3-5 Dixon...Ch. 3.A - PROBLEM 3A-4 Transaction Analysis LO3-5 Morrison...Ch. 3.A - PROBLEM 3A-5 Transaction Analysis LO3-5 Star...Ch. 3.A -
PROBLEM 3A-6 Transaction Analysis LO3-5
Brooks...Ch. 3 - Prob. 1QCh. 3 - Prob. 2QCh. 3 - What is underapplied overhead Overapplied...Ch. 3 - 3-4 Provide two reasons why overhead might be...
Ch. 3 - Prob. 5QCh. 3 - How do you compute the raw materials used in...Ch. 3 - Prob. 7QCh. 3 - How do you compute the cost of goods manufactured?Ch. 3 - Prob. 9QCh. 3 - Prob. 10QCh. 3 - Prob. 1AECh. 3 - Prob. 2AECh. 3 - Prob. 3AECh. 3 - Prob. 4AECh. 3 - Prob. 1F15Ch. 3 - Prob. 2F15Ch. 3 - Bunnell Corporation is a manufacturer that uses...Ch. 3 - Prob. 4F15Ch. 3 - Prob. 5F15Ch. 3 - Bunnell Corporation is a manufacturer that uses...Ch. 3 - Prob. 7F15Ch. 3 - Prob. 8F15Ch. 3 - Prob. 9F15Ch. 3 - Prob. 10F15Ch. 3 - Bunnell Corporation is a manufacturer that uses...Ch. 3 - Prob. 12F15Ch. 3 - Prob. 13F15Ch. 3 - Prob. 14F15Ch. 3 - Prob. 15F15Ch. 3 - EXERCISE 3-1 Prepare Journal Entries LO3-1 Lamed...Ch. 3 - Prob. 2ECh. 3 - EXERCISE 3-3 Schedules of Cost of Goods...Ch. 3 - EXERCISE 3-4 Underapplied and Overapplied Overhead...Ch. 3 - Prob. 5ECh. 3 - EXERCISE 3-6 Schedules of Cost of Goods...Ch. 3 - (
$
15,000...Ch. 3 - EXERCISE 3-8 Applying Overhead: Journal Entries;...Ch. 3 - Prob. 9ECh. 3 - Prob. 10ECh. 3 -
PROBLEM 3-11: T-Account Analysis of Cost Flows...Ch. 3 - Prob. 12PCh. 3 - PROBLEM 3-13 Schedules of Cost of Goods...Ch. 3 - Prob. 14PCh. 3 -
PROBLEM 3-15 Journal Entries; T-Accounts;...Ch. 3 - Prob. 16PCh. 3 - Prob. 17PCh. 3 - Prob. 18C
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