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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.
Alonzo Co. acquired 60% of Beazley Corp. by paying $240,000 cash. There is no active trading market for Beazley Corp. At the time of the acquisition, the book value of Beazley's net assets was $300,000.
munn bicycle company manufactures bicycles specifically for college campuses. the bicycles sell for 100 and are very
Compute the amount of fixed manufacturing overhead that would be expensed in the current year if full absorption costing is used. Compute the amount of fixed manufacturing overhead that would be expensed in the current year if variable costing is u..
If the president is right, what will be the effect on the company's monthly net operating income or loss? Using the incremental approach in perparing the answer?
Computer equipment and a service retail store.
In this discussion post you are to discuss either the pro or con of full financial disclosure. You must take a position advocating full disclosure and why this is beneficial for the marketplace and the economy or a position arguing that the associ..
What specific considerations arise when budgeting in multinational companies? What are the best ways to address these considerations?
Celia and Amos, who are married filing jointly, have one dependent and do not itemized deductions. They have taxable income of $82,000 and tax preferences of $53,000 in 2010. What is their AMT base for 2010?
How are bad debts accounted for under the direct write-off method? What are the advantages and disadvantages of this method?
company p purchased an 80 interest in company s on january 1 20x3 for 800000. on the purchase date company s
On his deathbed, Chester gave his live-in caregiver $5,113,000 of listed bonds, incurring a gift tax liability of $35,000. After Chester died, the executor of his will filed a gift tax return and remitted the gift tax to the IRS. Assume Chester's ..
Cash operating expenses total $60,000 per month and are paid when incurred. Monthly depreciation amounts to $18,000.
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