The following cost data pertain to the operations of Montgomery Department Stores, Incorporated, for the month of July.Corporate legal office salariesApparel Department cost of sales-Evendale StoreCorporate headquarters building leaseStore manager's salary-Evendale StoreApparel Department sales commission-Evendale StoreStore utilities-Evendale StoreApparel Department manager's salary-Evendale StoreCentral warehouse lease costJanitorial costs-Evendale Store$ 56,000$ 90,000$ 48,000$ 12,000$ 7,000$ 11,000$ 8,000$ 15,000$ 9,000The Evendale Store is one of many stores owned and operated by the company. The Apparel Department is one of manydepartments at the Evendale Store. The central warehouse serves all of the company's stores.Required:1. What is the total amount of the costs listed above that are direct costs of the Apparel Department?2. What is the total amount of the costs listed above that are direct costs of the Evendale Store?3. What is the total amount of the Apparel Department's direct costs that are also variable costs with respect to totaldepartmental sales?1. Total direct costs for the Apparel Department2. Total direct costs for the Evendale Store3. Total direct costs for the Apparel Department that are also variable costs

The direct costs are the costs which are directly related to the department. The variable costs are…

The following cost data pertain to the operations of Montgomery Department Stores, Incorporated, for the month of July. Corporate legal office salaries Apparel Department cost of sales-Evendale Store Corporate headquarters building lease. Store manager's salary-Evendale Store Apparel Department sales commission-Evendale Store Store utilities-Evendale Store. Apparel Department manager's salary-Evendale Store Central warehouse lease cost. Janitorial costs-Evendale Store $ 56,000 $ 90,000 $ 48,000 $ 12,000 $7,000 $ 11,000 $ 8,000 $ 15,000 $9,000 The Evendale Store is one of many stores owned and operated by the company. The Apparel Department is one of man departments at the Evendale Store. The central warehouse serves all of the company's stores. Required: What is the total amount of the costs listed above that are direct costs of the Apparel Department? E. What is the total amount of the costs listed above that are direct costs of the Evendale Store? direct costs that are also variable costs with respect to total

The following cost data pertain to the operations of Montgomery Department Stores, Incorporated, for the month of July. Corporate legal office salaries Apparel Department cost of sales-Evendale Store Corporate headquarters building lease. Store manager's salary-Evendale Store Apparel Department sales commission-Evendale Store Store utilities-Evendale Store. Apparel Department manager's salary-Evendale Store Central warehouse lease cost. Janitorial costs-Evendale Store $ 56,000 $ 90,000 $ 48,000 $ 12,000 $7,000 $ 11,000 $ 8,000 $ 15,000 $9,000 The Evendale Store is one of many stores owned and operated by the company. The Apparel Department is one of man departments at the Evendale Store. The central warehouse serves all of the company's stores. Required: What is the total amount of the costs listed above that are direct costs of the Apparel Department? E. What is the total amount of the costs listed above that are direct costs of the Evendale Store? direct costs that are also variable costs with respect to total

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Instructions Labels and Amount Descriptions Manufacturing Costs Instructions The following report was prepared for evaluating the performance of the plant manager of Marching Ants Inc. Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 1 Materials used in production (including $55,600 of indirect materials) $602,000.00 2 Direct labor (including $84,000 maintenance salaries) 569,000.00 3 Factory overhead: Supervisor salaries 515,000.00 Heat, light, and power 140,200.00 Sales salaries 347,300.00 7. Promotional expenses 312,000.00 Insurance and property taxes-plant 151,400.00 6. Insurance and property taxes-corporate offices 218,600.00 10 Depreciation-plant and equipment LA... 124,000.00 Depreciation-corporate offices 11 84,000.00 ET Check My Work 5 more Check My Work uses remaining. All work saved. Email Instruct MacBook Pro 80 F2 F3 DII F4 F5 F6 F7 F8 F9 #3 3 4. 6' 00 %24 10 4. 5.
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Karen Co. has four departments: Materials, Personnel, Manufacturing, and Packaging. In a recent month, the four departments incurred three shared indirect expenses. The amounts of these indirect expenses and the bases used to allocate them follow. Indirect Expense Allocation Base $ 82,000 Number of employees 59,000 Square feet occupied 27,000 Value of assets in use Cost Supervision Utilities Insurance Total $168,000 Departmental data for the company's recent reporting period follow. Department Materials Employees Square Feet 66,500 9,500 95,000 19,000 Asset Values 58 $10,350 4,140 38,640 15,870 Personnel 8 Manufacturing Packaging 70 64 Total 200 190,000 $69,000 1. Use this information to allocate each of the three indirect expenses across the four departments. 2. Prepare a summary table that reports the indirect expenses assigned to each of the four departments. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a summary table that reports…
The following report was prepared for evaluating the performance of the plant manager of Marching Ants Inc. Evaluate and correct this report. Marching Ants Inc.Manufacturing CostsFor the Quarter Ended June 30 Materials used in production (including $56,200 of indirect materials) $607,500 Direct labor (including $84,400 maintenance salaries) 562,500 Factory overhead: Supervisor salaries 517,500 Heat, light, and power 140,650 Sales salaries 348,750 Promotional expenses 315,000 Insurance and property taxes—plant 151,900 Insurance and property taxes—corporate offices 219,400 Depreciation—plant and equipment 123,750 Depreciation—corporate offices 90,000 Total $3,076,950 Marching Ants Inc.Manufacturing CostsFor the Quarter Ended June 30 $- Select - - Select - Factory overhead: $- Select - - Select - - Select - - Select - - Select - - Select - - Select - Total…
Given the information below find labour cost percentage for the month of June (do not include % sign) Sales Food Beverage Total Sales Cost of Sales Food Guest Hotel Inc. Income Statement for the period ending June 30, 2021 Beverage Total cost of goods sold Gross Profit Controllable Expenses Salaries & Wages Occupancy Office & General Utilities Transportation Kitchen supplies Professional fees Advertising Employee Insurance Vehicle Total Controllable Expenses Net Profit/Loss 186,665 73,010 54,214 25,881 97,996 27,546 10,969 9.656 6,488 6.547 6.869 8,199 10,288 4,665
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Harmon Recycling Services (HRS), a not-for-profit organization, has two drop-off centers, Westside and Eastside. Data for the expected operation in the next quarter follow. Clients Revenues Eastside 25,000 $360,000 8,100 Westside 6,250 $ 240,000 2,700 $ 99,000 $ 108,000 Staff hours Staff costs General operating costs Required: a. Compute the predetermined overhead rate used to apply general operating costs to the two centers assuming HRS uses the number of clients to allocate general operating costs. b. Based on the rates computed in requirement (a), what is the expected surplus (revenues less costs) for each center? Required A Required B Complete this question by entering your answers in the tabs below. Predetermined overhead rate Total 31,250 $ 600,000 10,800 $ 207,000 $360,000 Compute the predetermined overhead rate used to apply general operating costs to the two centers assuming HRS uses the number of clients to allocate general operating costs. Note: Round your answer to 2…
The following cost data pertain to the operations of Quinonez Department Stores, Incorporated, for the month of September. Corporate headquarters building lease $ 78,000 Cosmetics Department sales commissions-Northridge Store $ 5,270 Corporate legal office salaries $ 66,500 Store manager's salary-Northridge Store $ 12,200 Heating-Northridge Store $ 20,400 Cosmetics Department cost of sales-Northridge Store $ 39,100 Central warehouse lease cost $ 9,800 Store security-Northridge Store $ 16,200 Cosmetics Department manager's salary-Northridge Store $ 4,310 The Northridge Store is just one of many stores owned and operated by the company. The Cosmetics Department is one of many departments at the Northridge Store. The central warehouse serves all of the company's stores. What is the total amount of the costs listed above that are direct costs of the Cosmetics Department?
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.
The accounting department of a large limousine company is analyzing the costs of its services. The cost data and level of activity for the past 16 months follow. Month Special Analyses CustomerAccounts PaychecksProcessed AccountingService Costs 1 2 325 1,029 $ 63,800 2 4 310 993 68,900 3 2 302 1,268 64,000 4 1 213 1,028 61,300 5 2 222 984 61,600 6 0 214 712 50,800 7 1 131 762 51,020 8 1 123 739 54,300 9 0 115 708 50,500 10 2 296 1,232 64,800 11 2 213 978 58,000 12 1 222 929 57,500 13 2 217 1,059 62,200 14 2 132 942 54,900 15 4 300 1,299 71,530 16 4 315 1,283 64,800 Totals 30 3,650 15,945 $ 959,950 In…
Subject :- Accounting