Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information The Philip County Historical Society (PCHS) collects and displays historical artifacts from the local area. One of its services is dedicated tours. PCHS

image text in transcribed
image text in transcribed
image text in transcribed
Required information The Philip County Historical Society (PCHS) collects and displays historical artifacts from the local area. One of its services is dedicated tours. PCHS offers dedicated tours to two groups the general public (generally tourists and local residents) and donors. PCHS has two part-time coordinators for these tours-one for the public tours and one for the donor tours. Dath for the quarter on the two groups follow: The operational costs associated with the tours have been collected and are presented in the following table: Required: a. PCHS currently applies operational costs of the tours to the two types (public and donor) based on the number of . visitors. What is the operational cost per visitor based on the costing system currently used? b. The financial advisor to PCHS suggests adopting an ABC system to evaluate the costs of the two fypes of tours. If PCHS did so, it would use the following cost drivers: number of visitors for refreshments, audio guides, and other costs; number of tours for tour guide salaries and benefits; and number of cootdinators for coordinator salaries and benefits. Compute the cost-driver rates for the refreshments, information, and audlo guides and tour leaders. c. Match each of the three activity-drivers to one of the levels of the cost hierarchy: Complete this question by entering your answers in the tabs below. PCHS currently applies operotional costs of the tours to the two types (public and donor) based on the number of visitors. What is the operational cost per visitor based on the costing system currently used? Note: Round your answer to 2 docimal ploces. Complete this question by entering your answers in the tabs below. The financia advisor to PCHS suggests adopting an ABC system to evaluate the costs of the two types of tours. If PCHS did so, it would use the following cost drivers: number of visitors for refreshments, audio guides, and other costs; number of tours for tour guide salaries and benefits; and number of coordinators for coordinator salaries and benefits. Compute the cost-driver rates for the refreshments, information, and audio guides and tour leaders. Note: Round "Refreshments, etc." and "Tour guide" answers to two decimal places. The ocerational costs associated with the tours have been collected and are presentad in the following takler Required: a. PCHS currently applies operational costs of the tours to the two types (public and donor) based on the number of visitors. What is the operational cost per visitor based on the costing system currently used? b. The financial advisor to PCHS suggests adopting an ABC system to evaluate the costs of the two types of tours. If PCHS did so, it would use the following cost drivers: number of visitors for refreshments, audio guides, and other costs: number of tours for tour guide salaries and benefits; and number of coordinators for coordinator salaries and benefits. Compute the cost-driver rates for the refreshments, information, and audio guides and tour leaders. c. Match each of the three activity-drivers to one of the levels of the cost hierarchy: Complete this question by entering your answers in the tabs below. Match each of the three activity-drivers to one of the levels of the cost hierarchy

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audits Of 401k Plans

Authors: Deloitte And Touche

2nd Edition

ISBN: 1119722039, 978-1119722038

More Books

Students also viewed these Accounting questions