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Problem V - 20 Points Klingon Company operates a free cafeteria for the benefit of its employees. Budgeted and actual costs in the cafeteria for last year are given below: Budgeted Actual Variable costs $200,000 $168,000 Fixed costs $480,000 $504,000 The variable costs of the cafeteria are allocated to operating departments on the basis of the number of employees in these departments. Data concerning last year are given below: Machining Assembly Budgeted number of employees 60 100 Actual number of employees 40 80 Percentage of peak-period requirements 40% 60% The level of budgeted fixed costs in the cafeteria is determined by the peak-period requirements. Required: A. Compute the dollar amount of variable and fixed cost that should have been allocated to each of the operating departments at the beginning of last year for planning purposes. B. Compute the dollar amount of the variable and fixed costs that should have been charged to each of the operating departments at the end of last year for purposes of evaluating performance. Identify the amount, if any, of actual cafeteria costs that should not be charged to the operating departments.
Spectre Chemicals produces Zaloff in a two department process. Information on the two departments for March and April, 2011 are as follows
Indicate how each item should be classified in the statement of cash flows using these four major classifications: operating activity (indirect method), investing activity, financing activity, and significant non cash investing and financing activ..
Discuss whether or not these additional disclosures will both have a positive impact on public confidence and influence investors' behavior. Support your position.
Pullian Company makes a variety of chemicals. Its Mixing Department reports the following information for the May of the current year - Compute the cost per equivalent unit for direct materials and conversion.
Prepare the entry on P Company's books to record the effect of the issuance assuming the cost method.
describe cash flows from financing activities and provide three examples of cash inflows and three examples of cash
b. What is the contribution margin for March c. Once the contribution margin is determined, explain what the contribution margin tells a company d. Explain the differences and benefits when the contribution margin format is used instead of the trad..
Which of the following are consedered an optional presentation within a goverments required supplementary information.
Calculating returns. You bought a share of 5.5 % preferred stock for $92.18 last year. The market price for your stock is now $94.17. What is your total return for last year?
XYZ Company has forecasted June Sales of 600 units and July sales of 1000 units. The company maintains ending inventory equal to 125% of next month's sales. June inventory reflects this policy. What is June's required production?
On December 31, 2011, the inventory at prices existing on that date was $195,500, and the price level was 115. Compute the inventory on that date under the dollar-value LIFO method.
present value mr. flint retired as president of color title company but is currently on a consulting contract for 45000
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