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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.
Peasant's investment account balance at teh beginning of 2006 was $581.000. during 2006 slave reports a net loss of $60,000 yet pays dividends totaling $25,000. Calculate the balance in the investment in peasant account at the end of 2006?
What is the target cost for the new price if target operating income is 20% of sales. What is the change in operating income for the year if $18.00 is the new price and costs remain the same?
LaFluer Corporation issued $400,000 of 15-year bonds on January 1. The bonds pay interest on January 1 and July 1 with a stated rate of 8 percent. If the market rate of interest at the time the bonds are sold is 10 percent, what will be the issuan..
The capital balance for Messalina is $ 210,000 and for Romulus is $ 140,000. These two partners share profits and losses 60 percent (Messalina) and 40 percent (Romulus).
Journalize the adjusting entry for the inventory shrinkage for Three Turtles Company for the year ended August 31, 2008.
a) Journalize the transaction, events, and closing entries b) Enter the beginning balances in the accounts, and post to the stockholders' equity accounts c) Prepare a retained earnings statement for the year d) Prepare a stockholders' equity section ..
explain how the perpetual and periodic inventory systems differ especially in determining cost of goods sold and ending
The company wants to maintain a minimum cash balance of $20,000. What is the minimum cash loan that must be planned to be borrowed from the bank during December?
What is the projected ending retained earning balance of march 31, 2012, assuming that 2010 was their worst year of business?
Calculate the difference in taxable income and cash inflow under each method. Assume MACRS allowances are 20, 32, 18, 15, and 15 percent for years 1-5 respectively.
Each unit requires 4 poundsof material that costs $6 each. Sommer's production budget should be:
Peter Johnson invests $21,310.08 now for a series of $3,000 annual returns beginning one year from now. Peter will earn 10% on the initial investment. How many annual payments will Peter receive?
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