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please provide steps on the last question on excel. Sheffield Consulting provides weekly payroll processing for a number of small businesses. Gia Sheffield, the company's
please provide steps on the last question on excel.
Sheffield Consulting provides weekly payroll processing for a number of small businesses. Gia Sheffield, the company's owner, has been using an activity-based costing system for several years. She used the following information in preparing this year's budget. Total Cost Activity Cost Pool Setting up new employees Processing weekly payroll Expected Driver Volume 500 $ 88.750 $ 950.000 Cost Driver Number of new employees Number of paychecks printed Number of clients Number of W-25 printed 2,500,000 $ 371.000 200 Weekly reporting Annual tax reporting 280,000 80,000 Your answer is correct. Calculate the cost rates for each activity cost pool. (Round answers to 2 decimal places, eg, 15.25) Cost Pool Activity Rate Setting up new employees $ 177.5 ew employee Processing weekly payroll 0.38 /check Weekly reporting $ 1855 /client $ A Annual tax reporting 3.5 /W-2 - Your answer is partially correct. Gia is preparing a proposal for a prospective client, Jason's Juice Bar. The client has 20 employees. What is the estimated cost of providing weekly payroll services to this client for the first year? (Round answers to 2 decimal places, eg. 15.25.) Cost Pool Expected Annual Cost $ 3550 Setting up new employees 38000 Processing weekly payroll 1855 Weekly reporthens 11200 Annual tax reporting 54605 Total Bramble Industries manufactures several products including a basic case for a popular smartphone. The company is considering adopting an activity-based casting approach for setting its budget. The company's production activities, budgeted activity costs, and cost drivers for the coming year are as follows. Cost Driver Quantity Activity Machine setup Inspection Materials receiving Activity Overhead $ $ 148,200 129,200 1,900 Cost Driver # of setups # of quality tests # of purchase orders 380 2.800 232,400 The budgeted data for smartphone case production are as follows. Direct materials $ 2.30 per unit Direct labor $ 0.57 per unit Number of setups 190 Number of quality tests 390 70 Number of purchase orders Production 278.600 units (a) Your answer is correct. Calculate the activity rate for each cost pool. $ Machine setup 78.00 / setup $ 340.00/test Inspection $ 83.00/PO Materials receiving (b) X Your answer is incorrect. Calculate the activity-based unit cost of the smartphone case. (Round answer to 2 decimal places, eg. 15.25.) $ 3.4201 Activity-based unit cost [Foginula: Divide; Cell Referencing E7.7 - Using Excel to Calculate Overhead Rates PROBLEM Enc Parker has been studying his department's profitability reports for the past six months. He has just completed a managerial accounting course and is beginning to question the company's approach to allocating overhead to products based on machine hours. The current department overhead budget is based on machine hours. In an initial analysis of overhead costs, Eric has identified the following overhead budget amounts and activity cost pools. Student Work Area Required: Provide input into cells shaded in yellow in this template Use mathematical formulas with cell references to the Problem area as indicated a Calculate the company's traditional overhead rate based on Estimated machine hours 45,340 Traditional overhead rate per b. Calculate the company's overhead rates using the proposed activity based costing pools Cost Pool Expected Product assembly Machine setup and calibration Product inspection Raw materials storage Expected Cos $ 680,000 320,000 67,500 66,000 $ 1.133 500 Expected Activities 40.000 machine hours 5,000 Setups 1,500 batches 300,000 pounds Product assembly Machine setup and calibration Product inspection Raw materials storage per per per per Step by Step Solution
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