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!
Allocation of Marketing and Administrative Costs; Profit SBUs Tilton Academy allocates market- ing and administrative costs to its three schools based on total annual tuition revenue for the schools. In 2009 the allocations (000s omitted) were as follows:
Lower School
Middle School
Upper School
Total
Tuition revenue
$1,500
$500
$2,000
$4,000
Marketing and administration
375
125
500
$1,000
In 2010, the middle and upper schools experienced no change in revenues, but the lower school's tuition revenue increased to $1.9 million. Marketing and administrative costs rose to $1,250,000.
Required
1. Using revenue as an allocation base, how should the costs be allocated for 2010?
2. What are the shortcomings of this allocation formula?
Prepaid Rent was debited. If financial statements are prepared only on December 31 of each year, what adjusting entry is necessary on 2010 December 31, to bring the accounts involved to their proper balances?
Read the case for global accounting standards by Professor Ann Tarca (UWA) and analyse what the key points are of the report. Then prepare a report either supporting or challenging the position of the author.
Using the following methods, apply overhead from the service departments to the production departments and calculate the total budgeted overhead cost of each production department after the allocation.
Compute the pretax effect of this option plan on the net income of Intel for 2008 through 2012. Accounting for stock options. Intel granted stock options to employees on December 31, 2007, permitting them to purchase 24.6 million shares of Intel co..
You are required to prepare income statements separately under the methods Deduct by-product revenues from the cost of production of the main product.
Drop a Product and opportunity cost Midwestern Sod Company produces two products - Evaluate the opportunity cost of the president's decision to stick with both types of grass?
Calculate a unit cost for each month. You must also calculate cost of goods manufactured. Remember, there is no Work in Process inventory but you must calculate direct materials used.
hellas pty. ltd had the following balances on the 1st of july 2013materials control direct and indirect materials 5000
Discuss the similarities and differences between the tax consequences of the operating distribution and the tax consequences of the liquidation distribution.
Alpine Inc. uses job order costing for its brand new line of sewing machines. The cost incurred for production during 2014 totaled $20,000 of materials, $8,000 of direct labor costs, and $8,000 of manufacturing overhead applied.
write a 7 - 8 page double spaced paper answering and demonstrating with calculations and financial data the following
Silver Lake Cabinets has excess capacity. Ms. Zhang wants the cabinets in cherry rather than oak, so direct material costs will increase by $30 per unit.
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