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Maillard Painting paints the interiors and exteriors of homes and commercial buildings. The company uses an activity-based costing system for its overhead costs. The company has provided the following data concerning its activity-based costing system. Activity Cost Pool Activity Measure Annual Activity Painting overhead Square meters 40,000 square meters Job support Jobs 1,100 jobs Other None Not applicable The “Other” activity cost pool consists of the costs of idle capacity and organization-sustaining costs. The company has already finished the first stage of the allocation process in which costs were allocated to the activity cost centers. The results are listed below: Job Painting Support Other Total Painting overhead $ 110,000 $ 50,000 $40,000 $200,000 Office expense 20,000 60,000 35,000 115,000 Total $130,000 $110,000 $75,000 $315,000 Required: a. Compute the activity rates (i.e., cost per unit of activity) for the Painting and Job Support activity cost pools by filling in the table below. Round off all calculations to the nearest whole cent. Job Painting Support Total b. Prepare a Product Margin report for ONE job that involves painting 300 square meters and has direct materials cost of $1,000 and direct labor cost of $1,190. The sales revenue from this job is $4,400.
Enviro Company issues 8%, 10-year bonds with a par value of $250,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price of 87 1/2. The straight-line method is used to allo..
What will be the amount of the noncontrolling interest in the consolidated balance sheet, and how will it be displayed in the consolidated balance sheet?
On January 1, 2017, ABC Co. sold equipment for $16,000 cash that had cost $35,000, a salvage value of $5,000, and a useful life 10 years. The double-declining-balance depreciation method was used. On December 31, 2016, accumulated depreciation was $2..
Discuss one component of the Management Control Environment's importance to the overall management of a business.
question janavee construction applies all overhead to jobs on the basis of direct labor hours. this period
Calculate the overhead allocation rate:- Calculate the total costs of the special order - Calculate the cost of the special order if ABC Ltd uses machine time as the basis for allocating overheads.
The Audit Committee of a small manufacturing company that sells its products globally has directed internal audit to perform specific annual reviews to monitor manual journal entries, with a particular focus on potential management override activitie..
After the last prize distribution has been made (at the beginning of year 21), how much will be left over the reserve account?
A company had inventory on November 1 of 12 units at a cost of $16 each. On November 2, they purchased 17 units at $17 each. On November 6, they purchased 13 units at $18 each. On November 8, 15 units were sold for $28 each. Using the LIFO perpetual ..
The balance in the equipment account is $28,650,000, and the balance in the accumulated depreciation—equipment account is $16,430,000. What is the book value of the equipment? Does the balance in the accumulated depreciation account mean that the equ..
Adams Apples holds 1,000 shares of General Electric common stock. The stock was initially purchased in July 2014. On December 31, 2014, and December 31, 2015, the market value of the stock is $18 and $20 per share, respectively. What is the appropria..
multiple choice questions on annual compounding.1.you plan to deposit 400 each year for 16 years in an account that
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