ts work iz/Test Artprint Corporation owns a small printing press that prints leaflets, brochures, and advertising materials. Artprint classifies its various printing jobs as standard jobs or special jobs. (Click the icon to view additional information.) ended. To see how activity-based costing would affect the costs of standard and special jobs, Artprint collects the following information for the fiscal year 2017 that just (Click the icon to view the information.) Read the requirements. Requirement 1. Calculate the cost of a standard job and a special job under the simple costing system. (Round interim calculations to three decimal places, X.XXX and your final answers to the nearest cent, XXX.) Simple Costing System Cost of supplies gar job Direct manufacturing labor cost per job Indirect cost allocated to each job Total costs Standard Special Job Job Choose from any list or enter any number in the input fields and then continue to the next question. Saue for later stion Help Artprint Corporation owns a small printing press that prints leaflets, brochures, and advertising materials. Artprint classifies its various printing jobs as standard jobs or special jobs. (Click the icon to view additional information.) Requirement 2. Calculate the cost of a standard job and a special job under the activity-based costing system To see how activity-based costing would affect the costs of standard and special jobs, Artprint collects the following information for the fiscal year 2017 that just ended. (Click the icon to view the information.) Read the requirements Begin by calculating the allocation rates for the following activities. (Abbreviations used: S Dollar, OM Direct manufacturing, Qty. Quantity. Round the allocation rates to the nearest cent for all activities except Administration; round Administration to five decimal places, X.XXXXXXX) Machine operations ABC Allocation rate Setups Purchase orders Administration Now, completing the table for total costs of standard jobs, special jobs and then cost per job for each type of job. (Round your answers to the nearest whole dollar except cost per job. Round cost per job to the nearest cent) ABC Costing System Cost of supplies Direct manufacturing labor costs Indirect costs allocated Machine operations Standard Job Special Job Choose from any list or enter any number in the input fields and then continue to the next question Save for Later Artprint Corporation owns a small printing press that prints leaflets, brochures, and advertising materials. Artprint classifies its various printing jobs as standard jobs or special jobs. (Click the icon to view additional information.) To see how activity-based costing would affect the costs of standard and special jobs, Artprint collects the following information for the fiscal year 2017 that just ended. (Click the icon to view the information.) Read the requirements. ABC Costing System Cost of supplies Direct manufacturing labor costs Indirect costs allocated: Machine operations Setups Purchase orders I Job Job Design Marketing Administration Total costs Cost of each job Requirement 3. Compare the costs of a standard job and a special job in requirements 1 and 2. Why do the simple and activity-based costing systems differ in the cost of a standard job and a special job? Standard jobs cost under the simple costing system than under the activity-based costing system. Special jobs cost under the simple costing sytem than under the activity-based costing system. Relative to the ABC system, the simple costing system standard jobs and special jobs Choose from any list or enter any number in the input fields and then continue to the next question. Save for Later MacBook Pro Artprint Corporation owns a small printing press that prints leaflets, brochures, and advertising materials. Artprint classifies its various printing jobs as standard jobs or special jobs. (Click the icon to view additional information.) To see how activity-based costing would affect the costs of standard and special jobs, Artprint collects the following information for the fiscal year 2017 that just ended. (Click the icon to view the information.) Read the requirements Total costs Cost of each job Requirement 3. Compare the costs of a standard job and a special job in requirements 1 and 2. Why do the simple and activity-based costing systems differ in the cost of a standard job and a special job? Standard jobs cost under the simple costing system than under the activity-based costing system. Special jobs cost under the simple costing sytem than under the activity-based costing system. Relative to the ABC system, the simple costing system standard jobs and Requirement 4. How might Artprint use the new cost information from its activity-based costing system to better manage its business? special jobs. OA. Under the simple system, Artprint was making a gross margin of 33% on each standard job and 35% on each special job. But, the ABC system reveals that it is actually making a gross margin of about 30% on each standard job and about 31% on each special job. Depending on the market competitiveness, Artprint may either want to reprice the different types of jobs, or, it may choose to market standard jobs more aggressively than before. OB. Under the simple system, Artprint was making a gross margin of 33% on each standard job and 35% on each special job. But, the ABC system reveals that it is actually making a gross margin of about 30% on each standard job and about 31% on each special job. Depending on the market competitiveness, Artprint may either want to reprice the different types of jobs, or, it may choose to market special jobs more aggressively than before. OC. Under the simple system, Artprint was making a gross margin of 35% on each standard job and 33% on each special job. But, the ABC system reveals that it is actually making a gross margin of about 31% on each standard job and about 30% on each special job. Depending on the market competitiveness, Artprint may either want to reprice the different types of jobs, or, it may choose to market special jobs more aggressively than before OD. None of the above. The new cost information would have no impact on how the company manages its business Choose from any list or enter any number in the input fields and then continue to the next question Save for Later Data Table 1 Standard Job Special Job Total 2 Number of printing jobs 2,200 1,100 3 Price per job $ 1,400 $ 1,800 4 Cost of supplies per job $ 130 $ 260 5 Direct labor costs per job $ 130 $ 220 6 Printing machine-hours per job 10 10 7 Cost of printing machine operations Cause-and-Effect Relationship Between Allocation Base and Activity Cost Questi X Artpri ecial j Costing Indirect costs of operating printing machines $ 858,000 increase with printing machine-hours 8 Setup-hours per job 8 9 9 Setup costs 10 Total number of purchase orders $ 797,500 Indirect setup costs increase with setup-hours rgin a 350 450 stan 11 Purchase order costs $ Indirect purchase order costs increase with number 27,200 of purchase orders rgin 12 Design costs $ 13 Marketing costs as a percentage of revenues 12,000 $ 6% 22,000 $ 6% $ 303,600 34,000 Design costs are allocated to standard and special jobs based on a special study of the design department spea on spe 14 Administration costs Demand for administrative resources increases with $ 227,040 direct labor costs Print Done MacBook Pro Requirements 1. Calculate the cost of a standard job and a special job under the simple costing system. 2. Calculate the cost of a standard job and a special job under the activity-based costing system. 3. Compare the costs of a standard job and a special job in requirements 1 and 2. Why do the simple and activity-based costing systems differ in the cost of a standard job and a special job? 4. How might Artprint use the new cost information from its activity-based costing system to better manage its business? ollowing information for the fiscal year 2017 that just ended. (Click the icon to view the information.) Read the requirements. mple and activity-based costing systems differ in the cost of a standard job and a special job? Print Done Giall More Info - X OA. Under the simple system, Artprint was making a gross margin of 33% on each standard job and 35% on ea each standard job and about 31% on each special job. Depending on the market competitiveness, Artprint aggressively than before. OB. Under the simple system, Artprint was making a gross margin of 33% on each standard job and 35% on ea each standard job and about 31% on each special job. Depending on the market competitiveness, Artprint aggressively than before. OC. Under the simple system, Artprint was making a gross margin of 35% on each standard job and 33% on ea each standard job and about 36% on each special job. Depending on the market competitiveness, Artprint aggressively than before. OD. None of the above. The new cost information would have no impact on how the company manages its busi Choose from any list or enter any number in the input fields and then continue to the next question. Save for Later Artprint's simple job-costing system has two direct-cost categories (direct materials and direct labor) and a single indirect-cost pool. Artprint operates at capacity and allocates all indirect costs using printing machine-hours as the allocation base. Artprint is concerned about the accuracy of the costs assigned to standard and special jobs and therefore is planning to implement an activity-based costing system. Artprint's ABC system would have the same direct-cost categories as its simple costing system. However, instead of a single indirect-cost pool there would now be six categories for assigning indirect costs: design, purchasing, setup, printing machine operations, marketing, and administration. Print Done 86% on more 6% on hore 81% on hore Pro