can you please help me with part 1 question

.. ROGERS 7:01 PM @ 33%D Done_ABC Team Assignment Template ABC Question Req. 1 Req. 2 Req. 3 ABC Group Ayment Kelbec Community College KC 4000 Momshudents and offers a c ademic programs in the area professional studies, arts and Schnology. The professional des programs prepare students for administrative and c a bina ay of professionals including accounting medicine and ww. The arts program songs are wide ranging and indude graphic design domation, carat.com and music at Thech D asar varied, including information technology. medical laboratory technology. clectrical engineering Bochnology. pharmacy ochnology and natural resources technology The chief francia or of KOC. Lynn Jones, has consistory emphasized to other members of the senior management to the importance of understanding the costs of delivering the various academic programs. To that and the conting system und KCC tracks the direct costs of each program, which are shown below on an annual basis, along with the number of time students: Proda Studies 2.000 ArTech TI HOMES Professor's salaries Administrative salaries Supplies Teaching support Facilities Total direct cost $1.270,000 107.000 42.000 162.000 279.000 51.860,000 5654,000 71000 152.000 101 000 152.000 $1, 1 00 $784000 52.700.000 71.000 249.000 $1.000 245.000 R2.000 145.000 177.000 ,160054,155 000 It is very important to understand the overhead costs consumed by each academic programat KOCH determining the cost of operating the programs, Central administration at KCContes franca Tours to academic programs based on the estimated full cost per student of delivering the program. The overhead costs CC are sign i ng over of direct costs Total arvu overheados KCC are as follows: Cost SOTO00 1.310.000 Administrative salaries Facility costs Otie en Total overhead costs 2000 .. ROGERS 7:01 PM @ 33% Done_ABC Team Assignment Template ABC Question Req. 1 Req. 2 Req. 3 Traditionally, KCC has allocated overhead cost academic programs on the basis of the number of Fultime students in each program. This approach was deemed appropriate since Jones a nd that increasing the number of students at KCC would result in higher overhead costs . more would be needed more indirect support costs would be incurred . However, Joneis beginning Question the accuracy of the traditional approach intressin a cost per student for The arts and cology programs which she doesn't make sense. Based on her knowledge of the program Jones that the schnology program is probably more expensive to deliver than that program, but this does not come through in the traditional costing approach Jones contended a seminaron management techniques being used by leading educational nations a mong other topics covered the basis of the ABC approach She e na of being able to assign indirect o ndomi programs on the basis of how much of the Ort activity U S comed by each program Jones's instincts were some programs come more res of certain activities than others, this could have a significant impact on the overhead co e d och under the ABC approach Upon tuming to KCC Jones decides to ABC S ong with A C ROmas West begins by identifying the key acts used to support the teaching programs. Rather than going to detailed with respect to identifying activities in the initial implementation, Jonas decides to keep the process manageable and comes up with six key activities. Nent based on a series of interviews with various KCC employees who work in the departments, covered by the identified acti ons and West estimate the percentage of the total administrative, facility, and office expense resourOS consumed by each activity Again, to keep the process officient, Jonas rounds all porcentages to the are figuring that a close enough approach will suffice for this initial implementation and recognizing that the estimates are subjective to begin with. The results are shown below Resource Distribution ac Administrative Fasilitas Activities Ofriss Activ 20 Informatic systems technology Student Counselling services L 20 wy operations Registrar's office ... ROGERS 7:01 PM @ 33%D Done_ABC Team Assignment Template Working with key personal from each of the sex activities shown above Jones and Wehenderit The activity measure and the quantity of that measure used for each teaching program Fortuny lemented an erreure planning system awyers , which is ready trading much of the information needed regarding the measures and the specifica tes for each K Number of Number of a faculty members Rap 's office Ung the do c to g overhead costs to academic programs a Calethe produced overhead rate Assign the overhead co a ch academic program using the predetermined rate a te the total cost per student direct costs plus ovestead of operating each academic program c 2. Using ABC, complete the following requirements Complete the firststage allocation of overhead costs to academic programs, using Exhibt 775 guide Calculate the activity rates for each of the activity cost pools, using Exhibit 7-8 as a guide (Round your answers to 2 decimal places) cUsing the activity rates Calculated in complete the second stage allocation of overhead to cademic programs overhead of 3. Based on the results of (2), calculate the cos por hudent direct o p Operating each academic program. Round your answers to 2 decimal places) ABC Group Assignment Number Format kolber Community College och full-time students and offers a variety of academic programs in the areas: professional studies, arts, and technology. The professional studies programs prepare students for administrative and clerical jobs in a variety of professional settings, including accounting, medicine, and law. The arts program's offerings are wide ranging and include graphic design, digital animation, culinary arts, cosmetology, and music arts. The technology programs are also varied, including information technology, medical laboratory technology, electrical engineering Hechnology, pharmacy technology, and natural resources technology Traditionally, KCC has allocated overhead costs to academic programs on the basis of the number of Fulltime students in each program. This approach was deemed appropriate since Jones reasoned that Increasing the number of students at KCC would result in higher overhead costs lee, more facilities would be needed, more Indirect support costs would be incurred, etc.). However, Jones is beginning to Iuestion the accuracy of the traditional approach once results in a similar full cost per student for the arts and technology program, which she feels doesn't make sense. Based on her knowledge of the programs, Jones feels that the technology program is probably more expensive to deliver than the arts program, but this does not come through in the traditional costing approach Jones recently attended a seminar on management techniques being used by leading educational The chief financial officer of KCC, Lynn Jones, has consistently emphasized to other members of the senior management team the importance of understanding the costs of delivering the various academic programs. To that end, the costing system used at KCC tracks the direct costs of each program, which are shown below on an annual basis, along with the number of fulltime students: nstitutions that, among other topics, covered the basis of the ABC approach. She likes the idea of Peing able to assign indirect costs to academic programs on the basis of how much of the support activity resources are consumed by each program. If one's instincts are correct in that some programs consume more resources of certain activities than others, this could have a significant impact on the overhead costs assigned to each under the ABC approach Professional Arts Technology Full-Time Students 2.000 1.000 1.270,000 $ 654,000 $ 784,000 $ 2,700,000 upon returning to KCC, Jones decides to implement ABC. She, along with Assistant CFO James West begins by identifying the key activities used to support the teaching programs. Rather than getting too detailed with respect to identifying activities in the initial implementation, Jones decides to keep the process manageable and comes up with six key activities. Next, based on a series of interviews with various KCC employees who work in the departments covered by the identified activities, Jones and West estimate the percentage of the total administrative, facility, and office expense resources consumed by each activity. Again, to keep the process efficient, les rounds i percentages to the nearest 5%, figuring that a "close enough approach will suffice for this initial implementation and recognizing that the estimates are subjective to begin with. The results are shown below: Professor's salaries Administrative salaries Supplies Teaching support Facilities Total direct cost 42.000 152.000 279.000 1960.000 $ 152,000 177,000 130.000 $ 1.165,000 $ $ 4155.000 It is very important to understand the head cos consumed by each academic program at KCC IN determining the full cost of operating the programs. Central administration at KCC allocates financial resources to academic programs based on the estimated full cost per student of delivering the program. The overhead costs at KCC are significant, totaling over 60% of direct costs. Total annual Resource Distribution across Activities Administrative Facilities Office Activity Central administration Informaton systems technology Student Counselling services Human resources Ubrary operations Registrar's office Total Administrative salaries Facility costs Office expenses Total overhead costs 100% 100% $ 2.520.000 Working with key personnel from each of the six activities shown above, Jones and West then identify the activity measure and the quantity of that measure used for each teaching program. Fortunately, KCC implemented an enterprise resource planning system a few years ago, which is already tracking much of the information needed regarding the activity measures and the specific quantities for each academic program: Professional 7,500 5,800 Arts 8,750 2,700 Activity Measure Central administration Hours spent on program Information systems technology Processing hours Student counselling services Number of students counselled Human resources Number of admin. Staff & faculty members Library operations Number of library circulations Registrar's office Fulltime students 180 115 Technology 8,750 11,500 205 14 2,750 1,000 15 21 5,500 2,000 2,750 1,000 Required: 1. Using the traditional approach to assigning overhead costs to academic programs: a. Calculate the predetermined overhead rate. b. Assign the overhead costs to each academic program using the predetermined rate. c. Calculate the total cost per student (direct costs plus overhead) of operating each academic program 2. Using ABC, complete the following requirements: la Complete the firststage allocation of overhead costs to academic programs, using Exhibit 7-7as a guide. b. Calculate the activity rates for each of the activity cost pools, using Exhibit 7-8 as a guide. (Round your answers to 2 decimal places.) c. Using the activity rates calculated in (b), complete the second stage allocation of overhead to academic programs. 3. Based on the results of (2), calculate the total cost per student (direct costs plus overhead) of operating each academic program. (Round your answers to 2 decimal places.) .. ROGERS 7:01 PM @ 33%D Done_ABC Team Assignment Template ABC Question Req. 1 Req. 2 Req. 3 ABC Group Ayment Kelbec Community College KC 4000 Momshudents and offers a c ademic programs in the area professional studies, arts and Schnology. The professional des programs prepare students for administrative and c a bina ay of professionals including accounting medicine and ww. The arts program songs are wide ranging and indude graphic design domation, carat.com and music at Thech D asar varied, including information technology. medical laboratory technology. clectrical engineering Bochnology. pharmacy ochnology and natural resources technology The chief francia or of KOC. Lynn Jones, has consistory emphasized to other members of the senior management to the importance of understanding the costs of delivering the various academic programs. To that and the conting system und KCC tracks the direct costs of each program, which are shown below on an annual basis, along with the number of time students: Proda Studies 2.000 ArTech TI HOMES Professor's salaries Administrative salaries Supplies Teaching support Facilities Total direct cost $1.270,000 107.000 42.000 162.000 279.000 51.860,000 5654,000 71000 152.000 101 000 152.000 $1, 1 00 $784000 52.700.000 71.000 249.000 $1.000 245.000 R2.000 145.000 177.000 ,160054,155 000 It is very important to understand the overhead costs consumed by each academic programat KOCH determining the cost of operating the programs, Central administration at KCContes franca Tours to academic programs based on the estimated full cost per student of delivering the program. The overhead costs CC are sign i ng over of direct costs Total arvu overheados KCC are as follows: Cost SOTO00 1.310.000 Administrative salaries Facility costs Otie en Total overhead costs 2000 .. ROGERS 7:01 PM @ 33% Done_ABC Team Assignment Template ABC Question Req. 1 Req. 2 Req. 3 Traditionally, KCC has allocated overhead cost academic programs on the basis of the number of Fultime students in each program. This approach was deemed appropriate since Jones a nd that increasing the number of students at KCC would result in higher overhead costs . more would be needed more indirect support costs would be incurred . However, Joneis beginning Question the accuracy of the traditional approach intressin a cost per student for The arts and cology programs which she doesn't make sense. Based on her knowledge of the program Jones that the schnology program is probably more expensive to deliver than that program, but this does not come through in the traditional costing approach Jones contended a seminaron management techniques being used by leading educational nations a mong other topics covered the basis of the ABC approach She e na of being able to assign indirect o ndomi programs on the basis of how much of the Ort activity U S comed by each program Jones's instincts were some programs come more res of certain activities than others, this could have a significant impact on the overhead co e d och under the ABC approach Upon tuming to KCC Jones decides to ABC S ong with A C ROmas West begins by identifying the key acts used to support the teaching programs. Rather than going to detailed with respect to identifying activities in the initial implementation, Jonas decides to keep the process manageable and comes up with six key activities. Nent based on a series of interviews with various KCC employees who work in the departments, covered by the identified acti ons and West estimate the percentage of the total administrative, facility, and office expense resourOS consumed by each activity Again, to keep the process officient, Jonas rounds all porcentages to the are figuring that a close enough approach will suffice for this initial implementation and recognizing that the estimates are subjective to begin with. The results are shown below Resource Distribution ac Administrative Fasilitas Activities Ofriss Activ 20 Informatic systems technology Student Counselling services L 20 wy operations Registrar's office ... ROGERS 7:01 PM @ 33%D Done_ABC Team Assignment Template Working with key personal from each of the sex activities shown above Jones and Wehenderit The activity measure and the quantity of that measure used for each teaching program Fortuny lemented an erreure planning system awyers , which is ready trading much of the information needed regarding the measures and the specifica tes for each K Number of Number of a faculty members Rap 's office Ung the do c to g overhead costs to academic programs a Calethe produced overhead rate Assign the overhead co a ch academic program using the predetermined rate a te the total cost per student direct costs plus ovestead of operating each academic program c 2. Using ABC, complete the following requirements Complete the firststage allocation of overhead costs to academic programs, using Exhibt 775 guide Calculate the activity rates for each of the activity cost pools, using Exhibit 7-8 as a guide (Round your answers to 2 decimal places) cUsing the activity rates Calculated in complete the second stage allocation of overhead to cademic programs overhead of 3. Based on the results of (2), calculate the cos por hudent direct o p Operating each academic program. Round your answers to 2 decimal places) ABC Group Assignment Number Format kolber Community College och full-time students and offers a variety of academic programs in the areas: professional studies, arts, and technology. The professional studies programs prepare students for administrative and clerical jobs in a variety of professional settings, including accounting, medicine, and law. The arts program's offerings are wide ranging and include graphic design, digital animation, culinary arts, cosmetology, and music arts. The technology programs are also varied, including information technology, medical laboratory technology, electrical engineering Hechnology, pharmacy technology, and natural resources technology Traditionally, KCC has allocated overhead costs to academic programs on the basis of the number of Fulltime students in each program. This approach was deemed appropriate since Jones reasoned that Increasing the number of students at KCC would result in higher overhead costs lee, more facilities would be needed, more Indirect support costs would be incurred, etc.). However, Jones is beginning to Iuestion the accuracy of the traditional approach once results in a similar full cost per student for the arts and technology program, which she feels doesn't make sense. Based on her knowledge of the programs, Jones feels that the technology program is probably more expensive to deliver than the arts program, but this does not come through in the traditional costing approach Jones recently attended a seminar on management techniques being used by leading educational The chief financial officer of KCC, Lynn Jones, has consistently emphasized to other members of the senior management team the importance of understanding the costs of delivering the various academic programs. To that end, the costing system used at KCC tracks the direct costs of each program, which are shown below on an annual basis, along with the number of fulltime students: nstitutions that, among other topics, covered the basis of the ABC approach. She likes the idea of Peing able to assign indirect costs to academic programs on the basis of how much of the support activity resources are consumed by each program. If one's instincts are correct in that some programs consume more resources of certain activities than others, this could have a significant impact on the overhead costs assigned to each under the ABC approach Professional Arts Technology Full-Time Students 2.000 1.000 1.270,000 $ 654,000 $ 784,000 $ 2,700,000 upon returning to KCC, Jones decides to implement ABC. She, along with Assistant CFO James West begins by identifying the key activities used to support the teaching programs. Rather than getting too detailed with respect to identifying activities in the initial implementation, Jones decides to keep the process manageable and comes up with six key activities. Next, based on a series of interviews with various KCC employees who work in the departments covered by the identified activities, Jones and West estimate the percentage of the total administrative, facility, and office expense resources consumed by each activity. Again, to keep the process efficient, les rounds i percentages to the nearest 5%, figuring that a "close enough approach will suffice for this initial implementation and recognizing that the estimates are subjective to begin with. The results are shown below: Professor's salaries Administrative salaries Supplies Teaching support Facilities Total direct cost 42.000 152.000 279.000 1960.000 $ 152,000 177,000 130.000 $ 1.165,000 $ $ 4155.000 It is very important to understand the head cos consumed by each academic program at KCC IN determining the full cost of operating the programs. Central administration at KCC allocates financial resources to academic programs based on the estimated full cost per student of delivering the program. The overhead costs at KCC are significant, totaling over 60% of direct costs. Total annual Resource Distribution across Activities Administrative Facilities Office Activity Central administration Informaton systems technology Student Counselling services Human resources Ubrary operations Registrar's office Total Administrative salaries Facility costs Office expenses Total overhead costs 100% 100% $ 2.520.000 Working with key personnel from each of the six activities shown above, Jones and West then identify the activity measure and the quantity of that measure used for each teaching program. Fortunately, KCC implemented an enterprise resource planning system a few years ago, which is already tracking much of the information needed regarding the activity measures and the specific quantities for each academic program: Professional 7,500 5,800 Arts 8,750 2,700 Activity Measure Central administration Hours spent on program Information systems technology Processing hours Student counselling services Number of students counselled Human resources Number of admin. Staff & faculty members Library operations Number of library circulations Registrar's office Fulltime students 180 115 Technology 8,750 11,500 205 14 2,750 1,000 15 21 5,500 2,000 2,750 1,000 Required: 1. Using the traditional approach to assigning overhead costs to academic programs: a. Calculate the predetermined overhead rate. b. Assign the overhead costs to each academic program using the predetermined rate. c. Calculate the total cost per student (direct costs plus overhead) of operating each academic program 2. Using ABC, complete the following requirements: la Complete the firststage allocation of overhead costs to academic programs, using Exhibit 7-7as a guide. b. Calculate the activity rates for each of the activity cost pools, using Exhibit 7-8 as a guide. (Round your answers to 2 decimal places.) c. Using the activity rates calculated in (b), complete the second stage allocation of overhead to academic programs. 3. Based on the results of (2), calculate the total cost per student (direct costs plus overhead) of operating each academic program. (Round your answers to 2 decimal places.)