Question
PLEASE HELP ASAP. Will rate!!!!!- Cost Accounting A company sells 2 products: a leash and a harness. For each product, list the costs the product
PLEASE HELP ASAP. Will rate!!!!!- Cost Accounting
A company sells 2 products: a leash and a harness.
For each product, list the costs the product incurs, which should be: direct materials (one
material for each product), direct labor, and manufacturing overhead (six specific manufacturing overhead costs for each product they can be the same for the two products). You allocate manufacturing overhead using activity-based costing. You should have three overhead cost pools and three cost drivers. Please show me how you allocate your three overhead cost pools using your three cost drivers (calculate an application rate for each cost pool).
Create a budgeted income statement for your company for one month. This budget should contain columns of the budgets for each of your products, and include a column for the total of all the product budgets (the operating expenses will be in this column). Provide a calculation of how you arrived at each component of your income statement.
Report the actual results for one month for each product in an income statement. This income statement should contain columns of the actual results for each of your products, and include a column for the total of all the product results. Provide a calculation of how you arrived at each component of your income statement.
Show a comparison of the total column from the budgeted income statement and the total column from the actual income statement for the month. Explain the variances between budgeted and actual results for any variance that is 5% or more under budget for revenue, or 5% or more over budget for expenses. You must have at least three instances where you are 5% under budget (for revenue) or over budget (for costs or expenses).
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