Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Leeds Architectural Consultants began operations on January 2. The following activity was recorded in the company's Work in Process account for the first month of operations:
Work in Process
Costs of subcontracted work
89,000
To completed projects
548,000
Direct staff costs
200,000
Studio overhead
300,000
Leeds Architectural Consultants is a service firm, so the names of the accounts it uses are different from the names used in manufacturing companies. Costs of Subcontracted Work is comparable to Direct Materials; Direct Staff Costs is the same as Direct Labor; Studio Overhead is the same as Manufacturing Overhead; and Completed Projects is the same as Finished Goods. Apart from the difference in terms, the accounting methods used by the company are identical to the methods used by manufacturing companies.
Leeds Architectural Consultants uses a job-order costing system and applies studio overhead to Work in Process on the basis of direct staff costs. At the end of January, only one job was still in process. This job (Lexington Gardens Project) had been charged with $13,500 in direct staff costs.
Required:
1. Compute the predetermined overhead rate that was in use during January.
2. Complete the following job cost sheet for the partially completed Lexington Gardens Project.
Job Cost Sheet- Lexington Gardens project
As of January 31
Cost of subcontracted work
Total
List and describe the four perspectives of the Balanced Scorecard and what steps would you encourage him or her to take in order to successfully implement and use the Scorecard?
During March, the company's activity was actually 190 diving-hours. Prepare a flexible budget for that level of activity.
Determine the activity rate for each activity and determine the total and per-unit activity cost for all three products.
Discuss why a current ratio of 2 to 1 might indicate problems for the company.
A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.
Journalize Piranha October 2012 transactions - Journalizing sales transactions-perpetual inventory
Refer to QS21 6. Determine the In QS21 6, SBD Phone Company sells its cordless phone for $ 90 per unit. Fixed costs total $ 162,000, and variable costs are $ 36 per unit.
Calculate the total work done in equivalent units and the unit cost for April. Calculate the cost of units completed and transferred. Also, compute the costs in ending work in process.
Written essay for Management Accounting & Control course. Each team analyses the performance of the US-Company Coca Cola based on the traditional performance measurement and the EVA - concept.
Characterize these stores according to the Porter strategy framework.
What is the present yr net operation income or loss for this company and what is the breakeven point in unit in swiss franc
Compute the amount of accumulated depreciation on each machine at December 31, 2015. If machine 2 was purchased on April 1 instead of July 1, what would be the depreciation expense for this machine in 2013? In 2014
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd