Question
hello, i need help with this please 1. ndirect Cost Allocation: Direct Method Sprint Manufacturing Company has two production departments, Melting and Molding. Direct general
hello, i need help with this please
1. ndirect Cost Allocation: Direct Method Sprint Manufacturing Company has two production departments, Melting and Molding. Direct general plant management and plant security costs benefit both production departments. Sprint allocates general plant management costs on the basis of the number of production employees and plant security costs on the basis of space occupied by the production departments. In November, the following overhead costs were recorded: Melting Department direct overhead $180,000 Molding Department direct overhead 400,000 General plant management 100,000 Plant security 35,000 Other pertinent data follow: Melting Molding Number of employees 30 55 Space occupied (square feet) 10,000 30,000 Machine hours 10,000 2,000 Direct labor hours 4,000 20,000 (a) Prepare a schedule allocating general plant management costs and plant security costs to the Melting and Molding Departments. Department Total Melting Molding General Plant Management Plant security (b) Determine the total departmental overhead costs for the Melting and Molding Departments. Melting Molding (c) Assuming the Melting Department uses machine hours and the Molding Department uses direct labor hours to apply overhead to production, calculate the overhead rate for each production department. (Round your answers to two decimal places.) Melting Molding
2. Inventory Management Metrics Large retailers like The Home Depot and Wal-Mart typically use gross margin ratio (gross margin sales), inventory turnover (sometimes referred to as inventory turns), and gross margin return on investment (GMROI) to evaluate how well inventory has been managed. The goal is to maximize profits while minimizing the investment in inventory. Below are data for four scenarios, a base scenario (# 1) followed by three modifications (#s 2, 3, & 4) to the base scenario. Scenario 1 Scenario 2 Scenario 3 Scenario 4 Sales $10,000 $20,000 $13,000 $10,000 Cost of goods sold 8,000 16,000 8,000 $8,000 Gross profit $2,000 $4,000 $5,000 $2,000 Average inventory $7,000 $7,000 $7,000 $6,000 For each scenario calculate the gross margin percent, the inventory turnover, and GMROI. Round your answers to one decimal place. (Example for % answers -- 99.9%) Inventory Management Metrics Large retailers like The Home Depot and Wal-Mart typically use gross margin ratio (gross margin sales), inventory turnover (sometimes referred to as inventory turns), and gross margin return on investment (GMROI) to evaluate how well inventory has been managed. The goal is to maximize profits while minimizing the investment in inventory. Below are data for four scenarios, a base scenario (# 1) followed by three modifications (#s 2, 3, & 4) to the base scenario. Scenario 1 Scenario 2 Scenario 3 Scenario 4 Sales $10,000 $20,000 $13,000 $10,000 Cost of goods sold 8,000 16,000 8,000 $8,000 Gross profit $2,000 $4,000 $5,000 $2,000 Average inventory $7,000 $7,000 $7,000 $6,000 For each scenario calculate the gross margin percent, the inventory turnover, and GMROI. Round your answers to one decimal place. (Example for % answers -- 99.9%) GMROI : scenario 1, scenario 2, scenario 3, and scenario 4
3.Interdepartment Services: Step Method O'Brian's Department Stores allocates the costs of the Personnel and Payroll departments to three retail sales departments, Housewares, Clothing, and Furniture. In addition to providing services to the operating departments, Personnel and Payroll provide services to each other. O'Brian's allocates Personnel Department costs on the basis of the number of employees and Payroll Department costs on the basis of gross payroll. Cost and allocation information for June is as follows: Personnel Payroll Housewares Clothing Furniture Direct department cost $7,300 $3,800 $12,300 $20,000 $15,650 Number of employees 5 2 8 14 3 Gross payroll $6,100 $2,800 $10,800 $17,200 $8,500 a. (c) Prepare a schedule showing Personnel Department and Payroll Department cost allocations to the operating departments, assuming O'Brian's uses the step method. For each department below, enter the total costs calculated from your schedule. Do not round until your final answers. Round answers to the nearest dollar. Service Departments Producing Departments Payroll Personnel Housewares Clothing Furniture Total costs $Answer 0 Correct $Answer 0 Correct $Answer 0 Incorrect $Answer 0 Incorrect $Answer 0 Incorrect
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