Describe the difference between direct and step-down methods to allocate service department costs to user departments.
Q: Calculate the costs transferred out of each department.
A: Given: Mixing Dept. Amount Cooking Dept. Amount Packaging Dept. Amount Direct materials…
Q: as: Quality Control and Maintenance to the production departments. To aid them in this discussion,…
A: Working : The reciprocal method requires the usage of two formulas that are supported the entire…
Q: How should a company decide on the number of cost pools it should use to allocate costs to…
A: Costing: Costing is a technique used in cost accounting to determine the cost of a product. With the…
Q: Time-driven ABC requires estimates of onl
A: Time-Driven Activity-Based Costing-: Time-driven ABC allows managers to document their expenses on…
Q: Explain how nonuniform inputs and multiple departments affect process co
A: Solution Concept Process costing is a method of costing where the production process is carried out…
Q: Allocate the support department costs to the production departments using the direct method.
A: Solution:- Janitorial department total cost = $310,000 Total square of production department…
Q: Which of the following is the proper sequence of events in an activity-based costing system? A.…
A: Activity-Based Costing or ABC is a managerial accounting method that assigns certain indirect…
Q: Compute for the total cost transferred to the next department using average costing.
A: Equivalent units of products concept came in to existence when some units are not fully completed at…
Q: how useful is the activity based costing information isto the internal users in the organisation?…
A: Activity based costing is an approach to the costing and monitoring of activities and costing final…
Q: The three major differences between process and job order costing systems are those relating to:
A: Job Order Costing Process order Costing The Job Order Costing is based upon the manufacturing cost…
Q: If two support departments service the same number of departments, which support department's costs…
A: Departmental overhead rate is calculated by adding the allocated service costs to the overhead costs…
Q: Discuss two different criteria Mr. Smith can use to determine the sequence for allocating support…
A: Cost allocation is a process of assigning or allocating indirect cost to each and every unit using a…
Q: Which of the following statements about ABC is not correct? answer choices When forming activity…
A: Answer:- Activity-based costing (ABC)= Activity-based costing (ABC) is a kind of method of costing…
Q: how can we use step down cost allocation for ? From service center to mission center
A: Answer
Q: What are support departments, and why are their costs allocated to other departments? What process…
A: generally supporting departments are the departments that provide services to main departments. so…
Q: How has been the implementation of activity based costing in the service sector
A: Activity based costing: It is the method of allocating the cost of overheads by assigning these…
Q: Assigning indirect costs to departments is completed by ________.
A: Indirect costs are those costs that are not directly related with the production or selling. These…
Q: Help question 33
A: Answer: Option C is the correct answer.
Q: Why does dual cost allocation improve the resulting allocation of service department costs?
A: Dual Cost Allocation segregates total costs into two parts Fixed Costs. Variable Costs. Each…
Q: Explain the difference between the engineered-cost and discretionary-cost approaches to…
A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…
Q: Which of the following is false when using ABC in a service industry? analyze operations accumulated…
A: ABC (activity-based costing) seems to be an approach for allocating overhead expenses more…
Q: Please explain the statement below (T/F) thoroughly with examples illustrating the answer. "To…
A: "Activity-based costing is one of the costing methods that is structured and designed in such a way…
Q: Of the following systems, which one is most likely to reduce cost distortion to a minimum?…
A: SOLUTION- ACTIVITY BASED COSTING- IT IS METHOD OF ALLOCATING THE COSTS TO THE ACTIVITIES INVOLVING…
Q: How to allocate indirect costs to multiple departments using an ABC costing driver?
A: Overhead means the cost incurred indirect in factory for the production of goods. Manufacturing…
Q: Describe the two-stage allocation process for assigning support service cost to products in a…
A: There are two types of departments in the business, one is production departments and other is…
Q: Which of the following is referred to as the second stage of cost allocation? O The allocation of…
A: Cost allocation is the assigning and allocating the cost to the specific objects, departments,…
Q: Which of the following is NOT an objective of job costing? Select the correct response: To determine…
A:
Q: Explain briefly the main differences between the direct, step-down, and reciprocal-services methods…
A: Cost Allocation Method: The cost allocation method is the method by which the costs to be assigned…
Q: s it true that the direct method is a method of cost allocation that charges costs of service…
A: Direct Method- Direct method refers to the method under which the cost of the service department is…
Q: Why should the accountant distinguish between transferred-in costs and additional direct material…
A: Cost: Cost refers to the expenses incurred by the business to earn revenue from sales, in other…
Q: Is variable costing income statement applicable to service operations? If so, provide a hypothetical…
A: Absorption Costing The cost of absorption includes allocating to COGS all of the direct costs…
Q: Which of the following is NOT correct about the classifications of costs? Select one: a. On the…
A: Costs in the business can be classified into different types like on the basis of time, on the basis…
Q: “To ensure unbiased cost allocations, fixed costs should be allocated on the basis of estimated…
A: Cost: It is the monetary value incurred by a company to produce a product or a service.
Q: How to allocate indirect costs to multiple departments using an ABC cost driver?
A: Overhead means the cost incurred indirect in factory for the production of goods. Manufacturing…
Q: Distinguish among the three methods of allocating the costs of support departments to operating…
A:
Q: Which of the following statements is true with regard to activity-based costing? Multiple Cholce…
A: Activity-based costing is a method of costing that identify activities in an business and assigns…
Q: What are some drawbacks of applying support department costs using a single plantwide rate?
A:
Q: Suggest a reasonable basis for allocating thefollowing indirect expenses to departments: janitorial…
A: Indirect costs are costs that are incurred indirectly for production or manufacturing of goods.…
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- Question #4 "The higher the minimum desired rate of return, the higher the price that a company will be willing to pay for cost-saving equipment." Do you agree? Explain. Respond Responses for this topic are hidden from you until you make a response. P Pearson Copyright© 2021 Pearson Education Inc. All rights reserved.I Terms of Use I Privacy Policy I Permissions I Contact Us rch 233 PM ENG 4/20/2021 "brt sc delete home end backspace num lock P. っ] home 4 enter pause ↑ shift end HP Pavilion Powerful laptop. Thin and light design.F myCampus Portal Login - for Stu X B 09 Operational and Legal Consid x E (24,513 unread) - sharmarohit81 b My Questions | bartleby A fleming.desire2learn.com/d21/le/content/130754/viewContent/1518900/View?ou=130754 Table of Contents > Week 9: Operational and legal Considerations > Lecture Notes > 09 Operational and Legal Considerations 09 Operational and Legal Considerations - > Calculating Capacity • How many machines do you need? • You expect your sales to be 3,000,000 granola bars (20g each) • How large is your plant? per month • How many workers do you need? The machine: • How much is the investment? Capacity: 100 kgs per hour • What are the operating costs? Requires 2 people to operate it Takes 8 ft x 40 ft space • Cost per machine $15,000 Energy and maintenance: $5 per hour • Cost of material and packaging: $0.12 per bar I Group Project.xlsx Show all 12:35 AM O Type here to search A O 4) ENG 2020-12-09b Verify Email | bartleby O CengageBrain - My Home * CengageNOWv2 | Online teachin x O (6) Facebook + A v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inprogress=false Cost of Normal Spoilage Frieling Company installs granite countertops in customers' homes. First, the customer chooses the particular granite slab, and then Frieling measures the 2. countertop area at the customer's home, cuts the granite to that shape, and installs it. The Tramel job calls for direct materials of $2,900 and direct labor 3. of $1,200. Overhead is applied at the rate of 110 percent of direct labor cost. Unfortunately, one small countertop breaks during installation and Frieling must cut another piece and install it to properly complete the job. The additional rework required direct materials costing $1,400 and direct labor costing 4. $1,100. Assume that the spoilage was due to carelessness by a Frieling worker and it is…
- • Off ACC220Chaps16-18SP19 - Protected View O Search A Steven Dorfman ome Insert Page Layout Formulas Data Review View Help A Share P Comments TED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing B D F G H. J 6 Al's Car Wash has two departments, Prepping and Washing. Once a car has been washed, the customer pays by cash or credit card and leaves. The following selected transactions occurred during July of 2018. a. Al purchased Raw Materials of $53,000 b. Raw Materials of $46,000 were requisitioned to the Prepping Department c. $44,000 of costs were transferred to the Washing Department d. $42,000 of fully washed cars were awaiting customer pickup e. Customers picked up all cars that were waiting and Al collected $72,000 for the Prepping and Washing Services Required: Journalize the above transactions TestNSPIRON متوقف مؤقتا elearn.squ.edu.om/mod/quiz/review.php?attempt=D16687 G... Obs -Jblicyl .lyI all zihll Go SQU E-LEARNING SYSTEM (ACADEMIC) E-LEARNING SERVICES SQU LIBRARIES SQU PORTALATTENDANCE The correct answer is: OMR 35,200 Question 10 Company XYZ is currently producing AND selling 10,000 units of product A. At this level, the total product cost was $60,000. This included $10,000 direct materials, $20,000 direct labor and $30,000 manufacturing overhead cost, which included 20% variable manufacturing overhead cost. The selling and administrative expenses were $100,000, which included $60,000 variable selling and administrative costs. Assume that the selling price per unit $20, how much was the total contribution margin? Theorrect Mark0.00 out of 2.00 Flag question a. $134,000 b. None of the given answers C. $40,000 d. $104,000 e. $194,000 The correct answer is: $104,000 Windows Finish review ENG II ...File Edit View History Bookmarks Profiles estion 4 - Proctoring Enable X getproctorio.com/secured #lockdown ctoring Enabled: Chapter 6 Homework Assignm... i 4 kipped ic raw 511 F CUNY Login 2 Req 1 Req 2 to 4 #3 Complete this question by entering your answers in the tabs below. с Tab How many performance obligations are in this contract? Number of performance obligations $ Window Help st X 4 Barrick Gold Corporation is a mining company that produces gold and copper with 16 operating sites in 13 countries. It is headquartered in Toronto, Ontario, Canada. On March 1, 2024, Barrick Gold receives $150,000 from Citizen Bank and promises to deliver 95 units of certified 1-ounce gold bars on a future date. The contract states that ownership passes to the bank when Barrick Gold delivers the products to Brink's, a third-party carrier. In addition, Barrick Gold has agreed to provide a replacement shipment at no additional cost if the product is lost in transit. The stand-alone price of a gold…
- * CengageNOWv2 | Online teachin X = Ch. 12 Key Terms - Principles of + Silrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false ow to Cancel You... Startup Opportuniti. V How brands are co... Assignment Practic.. A COVID-19 Student. C20-128PRO1-2016... O Final Exam Review -.. On Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $920 for $95,800. The bonds had a stated rate of 5% and paid interest semi-annually, What is the journal entry to record the issuance of the bonds? If an amount box does not require an entry, leave it blank. Jan. 1 Email Instructor SubnContent * CengageNOWv2 | Assignment|F x b problem 9-3b - Search Pr 9-38 - Problem 9-38 Name: S x -+ A https://mdc.blackboard.com/ultra/courses/_218155_1/cl/outline A ... ACG2021-2223-1025 Discussion Board Forum: Discussion 3 Create Thread Create Thread When your instructor creates a forum, they have the option of allowing you to start threads. More Help * Indicates a required field. FORUM DESCRIPTION On November 1 of the current year, a business paid the annual rent on the building it occupies. A debit entry for the amount of $8,400 was posted to Rent Expense. (A) Under the accrual basis of accounting, explain how the transaction on November 1 should be recorded. (B) Assuming that the accrual basis of accounting is used, explain why an adjusting entry is needed at the end of the accounting period on December 31. At least 150 words must be used, and the number of words used should not exceed 180. MESSAGE * Subject Message For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). AV 2、…CengageNOWv2 | Online teachin X = Ch. 12 Key Terms - Principles of A X + ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false ow to Cancel Your. F Startup Opportuniti. V How brands are co... Assignment Practic.. A COVID-19 Student. . C20-128PR01-: Record the journal entries for each of the following payroll transactions. If an amount box does not require, leave it blank. Apr. 2 Paid $640 and $300 cash to a federal depository for FICA Social Security and FICA Medicare, respectively. Apr. 4 Paid accumulated employee salaries of $16,220. Apr. 11 Issued checks in the amounts of $480 for federal income tax and $300 for state income tax to an IRS-approved bank. Apr. 14 Paid cash to health insurance carrier for total outstanding health insurance liability of $800. Apr. 22 Remitted cash payments for FUTA and SUTA to federal and state unemployment agencies in the amounts of $130 and $250, respectively. Аpг. 2 Apr. 4 Apr. 11 Apг. 14 Apг. 22 78°F…
- ie Calendar My MCDS Library English ien)- Hal Management ession i 2021/FIN 20A/ET/ Section 9/ Mid Term Exam Explain an agency problem for a corporation with examples, and Identify means by which the firm can help reduce or eliminate that problem. A- BI - Il mcbs.proctoring.online is sharing your sareen. Stop sharing Hide mid-98604&page-8# DELLngageNOWv2 | Online teachin x = Ch. 12 Key Terms - Principles of A X takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Cancel Your... F Startup Opportuniti. V How brands are co.. Assignment Practic... COVID-19 Student.. C20-128PR01-2016... O Final Exam Review Eli Inc. issued $110,000 of 10% annual, 4-year bonds for $112,800. What is the total amount of interest expense over the life of the bonds?WP NWP Assessment Builder UI App x WP NWP Assessment Player UI Appli x in i education.wiley.com/was/ui/v2/assessment-player/index.html?launchld3ccc3c1a-22f0-4064-a82c-de9671bd4980#/question/4 6 - Practice: Chapter 6 Question 5 of 5 Sunland Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The follo December 31. Net Realizable Item Units Cost per Unit Value per Unit Cameras: Minolta 5 $163 $154 Canon 6 154 156 Light Meters: Vivitar 12 120 112 Kodak 17 120 135 What amount should be reported for inventory on Sunland Frame Camera Shop's balance sheet, assuming the realizable value rule is applied? The ending inventory $ 336 eTextbook and Media Type here to search 7424T21716