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Maillard Painting paints the interiors and exteriors of homes and commercial buildings. The company uses an activity-based costing system for its overhead costs. The company has provided the following data concerning its activity-based costing system. Activity Cost Pool Activity Measure Annual Activity Painting overhead Square meters 40,000 square meters Job support Jobs 1,100 jobs Other None Not applicable The “Other” activity cost pool consists of the costs of idle capacity and organization-sustaining costs. The company has already finished the first stage of the allocation process in which costs were allocated to the activity cost centers. The results are listed below: Job Painting Support Other Total Painting overhead $ 110,000 $ 50,000 $40,000 $200,000 Office expense 20,000 60,000 35,000 115,000 Total $130,000 $110,000 $75,000 $315,000 Required: a. Compute the activity rates (i.e., cost per unit of activity) for the Painting and Job Support activity cost pools by filling in the table below. Round off all calculations to the nearest whole cent. Job Painting Support Total b. Prepare a Product Margin report for ONE job that involves painting 300 square meters and has direct materials cost of $1,000 and direct labor cost of $1,190. The sales revenue from this job is $4,400.
Atlanta Inc applies manufacturing overhead based on machine hours. The following information is available for the period:
Management of Mcgibboney Corporation has asked your help as an intern in preparing some key reports for November. The beginning balance in the raw materials inventory account was $25,000. During the month, the company made raw materials purchases amo..
For Warren Corporation, year-end plan assets were $2,094,810. At the beginning of the year, plan assets were $1,780,830. During the year, contributions to the pension fund were $106,040, and benefits paid were $190,640. Compute Warren’s actual return..
Balance sheet relations. Selected balance sheet amounts for Kajima Corporation, a Japanese construction firm, are shown in the following table for four recent years -
Assume that the company normally is not required to pay a bank service charge if it maintains a minimum average daily balance of $ 1,000 throughout the month. If the company’s average daily balance for December had been $ 8,000, why did it have to..
Will the profit recorded by Barkley be equal to the loss recorded by American Bank under the debt restructuring? Will Barkley Company record a profit under the term modification mentioned above
List the changes in your final sensitivity analysis, and explain why you chose this set of changes - briefly explain what Jordan would need to do to implement each of these changes.
The Data Archives Company produces digital media as well as prints of high end fine art for galleries, artists, and collectors using digital photography, scanners, and other imaging systems. Assume that a Normal Job Costing system is used and that in..
Do you think that you should face the same integrity issues that an outside auditor faces with respect to conflicts of interest? Why, or why not?
The Wolf Appliance Co. provides a 120-day parts-and-labor warranty on all merchandise it sells. Show the effects of these transactions on the financial statements using a horizontal statements model like the example shown here. Use a + to indicate i..
University needs your help in doing some economic analysis for a facilities improvement project. The initial construction cost is $10,000,000. Routine maintenance cost is expected to be $200,000 per year. Determine the capitalized cost of this facili..
A company requisitioned $40,000 of materials during the year and incurred direct labor charges of $50,000. If the company began the year with a work-in-process inventory balance of $15,000 and applied overhead of $60,000, what is the ending balance o..
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