FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Please help with formulasarrow_forwardExercise 7-7 (Static) First-Stage Allocations [LO7-2] The operations vice president of Security Home Bank has been interested in investigating the efficiency of the bank's operations. She has been particularly concerned about the costs of handling routine transactions at the bank and would like to compare these costs at the bank's various branches. If the branches with the most efficient operations can be identified, their methods can be studied and then replicated elsewhere. While the bank maintains meticulous records of wages and other costs, there has been no attempt thus far to show how those costs are related to the various services provided by the bank. The operations vice president has asked your help in conducting an activity-based costing study of bank operations. In particular, she would like to know the cost of opening an account, the cost of processing deposits and withdrawals, and the cost of processing other customer transactions. The Westfield branch of Security Home…arrow_forwardCost pool $58,200 $88,500 Total cost in cost pool O $7,200 pool 1 pool 2 pool 3 Compute allocated capacity costs for product Alpha. $18,000 $7,500 $63,000 $45,000 not enough information need to know the total number of cost driver units Number of cost driver units product Alpha 20 20 30 -- product Beta 30 5 12arrow_forward
- Cost Report, Value-Added and Non-Value-Added Costs Sanford, Inc., has developed value-added standards for four activities: purchasing parts, receiving parts, moving parts, and setting up equipment. The activities, the activity drivers, the standard and actual quantities, and the price standards for 20x1 are as follows: Activities Activity Driver SQ AQ SP Purchasing parts Purchase orders 2,600 3,640 $300 Receiving parts Receiving orders 5,200 7,800 195 Moving parts Number of moves 2,600 390 Setting up equipment Setup hours O 10,400 117 The actual prices paid per unit of each activity driver were equal to the standard prices. Required: 1. Prepare a cost report that lists the value-added, non-value-added, and actual costs for each activity. If an amount is zero, enter "0". Sanford, Inc. Value- and Non-Value-Added Cost Report For the Year Ended December 31, 20x1 Non- Value- Value- Actual Added Added Purchasing parts Receiving parts Moving parts Setting up equipment Total $ 2. Which…arrow_forwardPlease do not give solution in image format thankuarrow_forwardQ. 2 Índigo manufacturing has five activity cost pools and two products ( a budget tape vacuum and a deluxe tape vacuum). Information is presented below:arrow_forward
- Please do not give solution in image format thankuarrow_forwardThe pool rate is defined as the cost per unit of the cost driver for a particular activity cost pool. Group of answer choices True False Rocket Products manufactures three types of remote-control devices: Economy, Standard, and Deluxe. The company, which uses activity-based costing, has identified five activities (and related cost drivers). Each activity, its budgeted cost, and related cost driver is identified below. Activity Cost Cost Driver Material handling $ 225,000 Number of parts Material insertion 2,475,000 Number of parts Automated machinery 840,000 Machine hours Finishing 170,000 Direct labor hours Packaging 170,000 Orders shipped Total $ 3,880,000 The following information pertains to the three product lines for next year: Economy Standard Deluxe Units to be produced 10,000 5,000 2,000 Orders to be shipped 1,000 500 200 Number of parts per unit 10 15 25 Machine…arrow_forwardCourse: Accounting for Decision Making and Control The West Point plan of Walkers Electronics Company has the following standards for component C91: Standards: Material 2 units of material B Material Price $10 per unit of B Direct labor 1 hour Wage rate $10 per direct labour hour Variable support cost rate $25 per direct labour hour Actual results for March Used 4,200 units of B, purchased at $9.75 per unit of B Paid for 2,000 direct labour hours at $11 per hour Incurred $48,000 of variable support costs Manufactured 2,000 units of component C91 Required: Determine any (5) five of following variances for March: Total direct material…arrow_forward
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