At the end of August, both the Vault Bank and Take Off Airlines campaigns were completed. The costs of completed campaigns are debited to the cost of services account. Required:   Journalize the four summary entries on August 31 to record each of the following for the month. Refer to the Chart of Accounts for exact wording of account titles. • Direct labor costs • Media purchases • Overhead applied • Completion of Vault Bank and Take Off Airlines campaigns

The Fly Company provides advertising services for clients across the nation. The Fly Company is presently working on four projects, each for a different client. The Fly Company accumulates costs for each account (client) on the basis of both direct costs and allocated indirect costs. The direct costs include the charged time of professional personnel and media purchases (air time and ad space). Overhead is allocated to each project as a percentage of media purchases. The predetermined overhead rate is 68% of media purchases. On August 1, the four advertising projects had the following accumulated costs:   August 1 Balances Vault Bank $261,000 Take Off Airlines 85,000 Sleepy Tired Hotels 208,300 Tastee Beverages 122,300 Total $676,600   During August, The Fly Company incurred the following direct labor and media purchase costs related to preparing advertising for each of the four accounts:   Direct Labor Media Purchases Vault Bank $187,000 $717,100 Take Off…

Golden Enterprise performs market research for consumer product companies across the country. The company conducts telephone surveys and gathers consumers together in focus groups to review foods, cleaning products, and toiletries. Golden uses a normal-costing system. General overhead is allocated to each job based on 150% of direct labor cost. Actual overhead equaled applied overhead as of April 30, 2020. Actual overhead in May was RM122,000. All costs incurred during the planning stage for a market research job and during the job are gathered in a balance sheet account called “Jobs in Progress (JIP).” When a job is completed, the costs are transferred to an income statement account called “Cost of Completed Jobs (CCJ).” Following is cost information for May 2020:   From Beginning JIP   Incurred in May Brand Labor General Overhead   Labor Choco Jar RM18,000 RM27,000   RM16,000 Herbal Toothpaste 4,000 6,000   34,000 Green Noodles ---…

Vinubhai

Tenet Engineering, Inc. operates two user divisions as separate cost objects. To determine the costs of each division, the company allocates common costs to the divisions. During the past month, the following common costs were incurred: Computer services (85% fixed) Building occupancy 347,000 674,000 Personnel costs 174,000 Total common costs $1,195,000 The following information is available concerning various activity measures and service usages by each of the divisions: Division A Division B Area occupied (square feet) 26,900 53,800 Рayroll $436,000 $236,000 Computer time (hours) Computer storage (megabytes) 280 300 4,400 -0- Equipment value Operating profit (pre-allocations) $205,000 $255,000 $767,500 $707,500 If common computer service costs are allocated using computer time as the allocation basis, what is the computer cost allocated to Division B (rounded to the nearest whole dollar)? Multiple Choice $216,625. $187,736. $180,939. $179,483.

and media purchases (air time and ad space). Overhead is allocated to each project as a percentage of media purchases. The predetermined overhead rate is 45% of media purchases. On August 1, the four advertising projects had the following accumulated costs: Vault Bank Take Off Airlines Sleepy Tired Hotels Tastee Beverages Total During August, The Fly Company incurred the following direct labor and media purchase costs related to preparing advertising for each of the four accounts: Vault Bank Take Off Airlines Sleepy Tired Hotels Tastee Beverages Total a. b. pur req b. ( At the end of August, both the Vault Bank and Take Off Airlines campaigns were completed. The costs of completed campaigns are debited to the cost of services account. C. August 1 Balances $81,400 24,400 57,000 35,000 $197,800 a. Journalize the summary entry to record the direct labor costs for the month. If an amount box does not require an entry, leave it blank. app ani c. C d. of V ami d. ( Direct Labor $55,300…

Please help me

Cordner Corporation has two production departments, P1 and P2, and two service departments, S1 and S2. Direct costs for each department and the proportion of service costs used by the various departments for the month of July are as follows:     Proportion of Services Used by: Department Direct costs S1 S2 P1 P2 S1 $ 72,000   0.70 0.10 0.20 S2 $ 157,000 0.20   0.30 0.50 P1 $ 214,000         P2 $ 179,000         Under the step method of allocation, the total amount of service costs allocated to producing departments would be:   Multiple Choice   $174,000.   $178,600.   $74,000.   $229,000.

Ready Company has two operating (production) departments: Assembly and Painting. Assembly has 210 employees and occupies 56,400 square feet; Painting has 140 employees and occupies 37,600 square feet. The company has indirect expenses that consist of administrative expenses of $87,000 and maintenance expenses of $105,000. Administrative expenses are allocated based on the number of workers in each department and maintenance is allocated based on square footage. The amount of maintenance expenses that should be allocated to the Assembly Department for the current period is: Multiple Choice O $52,200. O $63,000. O $115,200. O $115,950. O $126,000.