All Matches

Solution Library

Expert Answer

Textbooks

Search Textbook questions, tutors and Books

Oops, something went wrong!

Change your search query and then try again

Result Not Found

Books FREE
Tutors
Study Help
Hire a Tutor
AI Study Help New

Search
Sign In
Register

study help
business
survey of accounting

Questions and Answers of Survey of Accounting

=+Determine the missing items, identifying each by the appropriate letter.
=+Rate ofReturn on Investment = Profit Margin X Investment Turnover 24% = 15% X (a)(b) = 8% X 2.50 12% =(0 X 0.80 24% = 12% X (d)(e) = 10% X 1.60
=+One item is omitted from each ofthe following computations ofthe rate ofreturn on investment:
=+b. Which division has the most residual income?
=+a. Determine the residual income for each division.
=+Based on the data in Exercise 14-10, assume that management has established a 12% minimum acceptable rate ofreturn for invested assets.
=+b. Which division is the most profitable per dollar invested?
=+a. Compute the rate ofreturn on investment for each division.
=+from Operations Invested Assets Magazine Division $ 96,000 $ 800,000 Textbook Division 166,400 640,000 Business Publishing Division 260,400 1,240,000
=+The income from operations and the amount ofinvested assets in each division of Deacon Pub¬lishing Company are as follows:Income
=+Prepare a divisional income statement with two column headings: Winter Sports Division and Summer Sports Division. Provide supporting schedules for determining service depart¬ment charges.
=+d. Warehouse expense—charged back to divisions on the basis offloor space used in storing di¬vision products: Winter Sports Division, 25,000 square feet; Summer Sports Division, 12,500 square
=+c. Accounts receivable collection expense—incurred at headquarters, charged back to divisions at a transfer price of $5.60 per invoice: Winter Sports Division, 4,500 sales invoices; Summer Sports
=+b. Transportation expense—charged back to divisions at a transfer price of $7.60 per bill of lading: Winter Sports Division, 6,000 bills oflading; Summer Sports Division, 7,250 bills of lading.
=+a. Advertising expense-incurred at headquarters, charged back to divisions on the basis of usage: Winter Sports Division, $28,000; Summer Sports Division, $36,500 Performance Evaluationfor
=+The bases to be used in allocating expenses, together with other essential information are as follows:
=+Transportation Expense 100 700 Accounts Receivable Collection Expense 53 10O Warehouse Expense 120 000
=+Outdoor Athletic Equipment Co. operates two divisions—the Winter Sports Division and the Summer Sports Division. The following income and expense accounts were provided from the trial balance as
=+b. Correct the divisional income statements, using the activity bases provided above in revising
=+a. Does the income from operations for the two divisions accurately measure performance?
=+The service department charge rate for the service department costs was based on revenues. Since the revenues ofthe two divisions were the same, the service department charges to each division were
=+Less service department charges:$300,000 $350,000 Training $50,000 $50,000 Trip scheduling 60,000 60,000 Reservations 80,000 190,000 80,000 190,000 Income from operations $110,000 $160,000
=+E14-9 Profit center responsibility reporting Gbjs 3, 5 SPREADSHEET/ Income from operations, Winter Sports Division,$11,700 Worldwide Air, Inc., has two divisions organized as profit centers, the
=+SPREADSHEET/b. Income from operations, Cargo Division, $255,000
=+The service department charges ofthe Tech Support Department and the Accounts Payable Department are considered controllable by the divisions. Corporate administrative expenses are not considered
=+Tech Support Accounts Payable Commercial Division 252 computers 5,880 checks Consumer Division 168 10,920 Total 420 computers 16,800 checks
=+The other corporate administrative expenses include officers’ salaries and other expenses required by the corporation. The Tech Support Department charges the divisions for services rendered,
=+Waverunner Watersports Company has two divisions, Commercial and Consumer, and two corporate service departments, Tech Support and Accounts Payable. The corporate expenses for the year ended
=+E14-7 Divisional income statements with service department charges Ob) 3 SPREADSHEET y Consumer income from operations,$1,154,650
=+b. Determine the charges to the COMM sector for the four CCS service categories for October.
=+a. Determine the service charge rate for the four CCS service categories for October.
=+• Ninety percent ofthe employees with a computer also have an e-mail account.• The average number of help desk calls for October was 0.50 call per individual with a computer.• There are 300
=+Performance Evaluationfor Decentralized Operations 561 One of the profit centers for Harris Corporation is the Communication Systems (COMM) sec¬tor. Assume the following information for the COMM
=+Assumed Cost$ 73,600 614,250 53,550 127,238 Assumed Activity Base Quantity 2.300 9,450 6.300 8,775
=+Harris Corporation, a manufacturer of electronics and communications systems, uses a service department charge system to charge profit centers with Computing and Communications Ser¬vices (CCS)
=+E14-6 Service department charges and activity bases Obj 3•/b. Help Desk,$28,800
=+c. Why does the Residential Division have a larger service department charge than the other two divisions, even though its sales are lower?
=+b. Using the activity base information in (a), determine the annual amount of payroll and purchasing costs charged back to the Residential, Commercial, and Government Contract Divisions from
=+a. Determine the total amount of payroll checks and purchase requisitions processed per year by each division.
=+Government Residential_Commercial_Contract Sales $420,000 $500,000 $1,800,000 Number of employees:Weekly payroll (52 weeks per year) 144 72 108 Monthly payroll 25 20 18 Number of purchase
=+E14-5 Service department charges Obj 3/b. Commercial payroll, $9,960 In divisional income statements prepared for Franklin Electrical Company, the Payroll Depart¬ment costs are charged back to
=+attendees Number of computers Number of employees trained Number oftelephone lines Number of purchase requisitions Number ofsales invoices Number of payroll checks Number oftravel claims
=+E14-4 Activity bases for service department charges Obj 3 For each ofthe following service departments, select the activity base listed that is most appro priate for charging service expenses to
=+E14-3 For each ofthe following service departments, identify an activity base that could be used for Service department charges and activity bases charging the expense to the profit center.Obj 3a.
=+Prepare divisional income statements for Huggins Construction Company.
=+E14-2 The following data were summarized from the accounting records for Huggins Construction Divisional income Company for the year ended June 30, 2008:statements Obj 3 Cost of goods sold: Service
=+b. Compose a memo to Dana Johnson, vice president of production for Qual-Tech Company, explaining the performance ofthe production division for April.
=+a. Complete the budget performance reports by determining the correct amounts for the lettered spaces.
=+Budget Performance Report—Supervisor, Chip Fabrication For the Month Ended April 30, 2008 Costs Budget Actual Over Budget Under Budget Factory wages $ 21,560 $23,100 $1,540 Materials 60,900
=+Performance Evaluationfor Decentralized Operations 559 QUAL-TECH COMPANY Budget Performance Report—Manager, South Region Plant For the Month Ended April 30, 2008 Department Budget Actual Over
=+Budget Performance Report—Vice President, Production For the Month Ended April 30, 2008 Budget_Actual_OverBudget$362,460 259,980 _(sl$ (i)$360,920 258,580 _(hi$ (k)Under Budget$1,540 1,400 North
=+E14-1 Budget performance reports for cost centers Obj 2/a. (c) $2,310 Partially completed budget performance reports for Qual-Tech Company, a manufacturer of air conditioners, are provided
=+15. When using the negotiated price approach to transfer pricing, within what range should the transfer price be established?Exercises
=+14. Why would standard cost be a more appropriate trans¬fer cost between cost centers than actual cost?
=+13. When is the negotiated price approach preferred over the market price approach in setting transfer prices?
=+12. What is the objective oftransfer pricing?
=+11. Why would a firm use a balanced scorecard in evaluat¬ing divisional performance?
=+10. The rates ofreturn on investment for Kardin Co.’s three divisions, East, Central, and South, are 22%, 18%, and 16%, respectively. In expanding operations, which of Kardin Co.’s divisions
=+9. How does using the rate ofreturn on investment facili¬tate comparability between divisions of decentralized companies?
=+8. In a decentralized company in which the divisions are organized as investment centers, how could a division be considered the least profitable even though it earned the largest amount ofincome
=+7. Why should the factors under the control ofthe invest¬ment center manager (revenues, expenses, and invested assets) be considered in computing the rate ofreturn on investment?
=+6. What is the major shortcoming of using income from operations as a performance measure for investment centers?
=+For each activity, identify an output measure that could be used to charge user divisions for service.
=+5. Weyerhaeuser Company developed a system that as¬signs service department expenses to user divisions on the basis of actual services consumed by the division.Here are a number ofWeyerhaeuser’s
=+4. For what decisions is the manager of a cost center not responsible?
=+3. In what major respect would budget performance reports prepared for the use ofplant managers of a manufacturing business with cost centers differ from those prepared for the use ofthe various
=+2. Differentiate between a profit center and an investment center.
=+1. Differentiate between a cost center and a profit center.
=+5. Which approach to transfer pricing uses the price at which the product or service transferred could be sold to outside buyers?A. Cost price approach B. Negotiated price approach C. Market price
=+4. Division L ofLiddy Co. has a rate ofreturn on invest¬ment of 24% and an investment turnover of 1.6. What is the profit margin?A. 6% C. 24%B. 15% D. 38%
=+3. Division A of Kern Co. has sales of $350,000, cost of goods sold of $200,000, operating expenses of $30,000, and invested assets of $600,000. What is the rate of return on investment for
=+2. The Accounts Payable Department has expenses of$600,000 and makes 150,000 payments to the vari¬ous vendors who provide products and services to the divisions. Division A has income from
=+v1. When the manager has the responsibility and authority to make decisions that affect costs and revenues but no responsibility for or authority over assets invested in the department, the
=+E10-21 Decision making withjob order costs Obj 5 Sharp Trophies Inc. uses a job order cost system for determining the cost to manufacture award products (plaques and trophies). Among the
=+b. What additional information would you require to investigate Bronx Machinery’s cost per¬formance more precisely?
=+a. Develop a graph for each product (three graphs), with Job No. (in date order) on the horizontal axis and unit cost on the vertical axis. Use this information to determine Bronx Machinery’s
=+Accounting Systemsfor Manufacturing Businesses 385 Date Job No. Quantity Product Amount Mar. 28 173 1,100 120T 6,600 May 20 190 1,250 120T 11,250 June 10 201 450 105X 6,750 Aug. 9 210 1,900 120T
=+E10-20 Decision making withjob order costs Obj 5 Bronx Machinery Inc. is a job shop. The management ofBronx Machinery uses the cost information from the job sheets to assess its cost performance.
=+b. Determine the inventory balances at the end ofthe first month ofoperations.
=+El 0-19 Financial statements ofa manufacturing firm Obj 4 SPREADSHEET ya. Income from operations, $47,600 The following events took place for Wreckin Ronnie Inc. during July 2008, the first month
=+Tobias Printing Inc. began printing operations on July 1. Jobs 101 and 102 were completed during the month, and all costs applicable to them were recorded on the related cost sheets.Jobs 103 and
=+b. Determine the cost ofthe unfinished jobs at January 31.Direct materials 6,800 Direct materials 3,000 Direct labor 1,560 Direct labor 880 Factory overhead 3,900 Factory overhead 2,200 Total
=+The following account appears in the ledger after only part ofthe postings have been completed for January:Work in Process Balance, January 1 $15,500 Direct materials 86,200 Direct labor 64,300
=+c. During August, the operating room was used 182 hours. The actual overhead costs incurred for August were $30,700. Determine the overhead under- or overapplied for the period.
=+would be charged to her procedure, using the rate determined in part (a)?
=+During the first half ofthe year, the university had two separate executive education classes. The job cost sheets for the two separate jobs indicated the following information:Job 103 March 4 Cost
=+b. Allison Mann had a 5-hour procedure on August 10. How much operating room overhead
=+a. Determine the predetermined operating room overhead rate for the year.
=+Total operating room overhead $367,500 The overhead costs will be assigned to procedures based on the number ofsurgical room hours. The Medical Center expects to use the operating room an average
=+San Jose Medical Center has a single operating room that is used by local physicians to perform surgical procedures. The cost of using the operating room is accumulated by each patient pro¬cedure
=+Determine the predetermined shop overhead rate per direct labor hour.
=+/b. $5,800 The Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expenses for the coming period are as follows:Engine parts $
=+whether the amounts represent overapplied or underapplied factory overhead.Accounting Systemsfor Manufacturing Businesses 383
=+d. Determine the balances ofthe factory accounts for each factory as ofMay 31, and indicate
=+c. Determine the factory overhead applied to production in each factory for May.
=+b. Determine the factory overhead rate for Factory 2.
=+a. Determine the factory overhead rate for Factory 1.
=+a. Why did the cost per plaque increase from $49.40 to $64.30?
=+E10-14 Factory overhead rates and account balances Obj 4 yb. $13.00 per direct labor hour Staten Island Turbine operates two factories. The company applies factory overhead to jobs on the basis
=+c. Illustrate the effects ofthe factory overhead applied in (b) on the accounts and financial statements.

Showing 900 - 1000 of 3692

First
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Last

Services

Sitemap
Fun
Definitions
Become Tutor
Study Help Categories
Recent Questions
Expert Questions

Company Info

Security
Copyrights
Privacy Policy
Terms & Conditions
SolutionInn Fee
Scholarship

Get In Touch

About Us
Contact Us
Career
Jobs
FAQ
Campus Ambassador

Secure Payment

Download Our App

© 2024 SolutionInn. All Rights Reserved