Acct 2211 Exam 2 Computational Practice - Answers

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The Set Aircraft Corporation has a central materials laboratory. The laboratory has only two users, the Large Plane Department and the Small Plane Department. The following data apply to the coming budget year Budgeted costs of operating the materials laboratory for 100.000 to 200 000 technician hours per year Fixed costs per year Variable costs Budgeted long-run usage in hours per year Large Plane Department Smail Plane Department $8,000,000 OA $167 B: $95 OC. $136 OD $117 $73 per technician hour 80.000 technician hours 120,000 technician hours Budgeted amounts are used to calculate the allocation rates Actual usage for the year by the Large Plane Department was 60,000 technician hours and by the Small Plane Department was 80,000 technican hours If a single-rate cost-allocation method is used what is the allocation rate per hour used? (Round the final answer to the nearest dollar)

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Illumination Corporation operates one central plant that has two divisions, the Flashlight Division and the Night Light Division. The following data apply to the coming budget year Budgeted costs of operating the plant for 2,000 to 3,000 hours: Fixed operating costs per year Variable operating costs Budgeted long-run usage per year Flashlight Division Night Light Division Practical capacity $500,000 OA. $500,000 B. $625.000 OC. $600,000 D. $650,000 $500 per hour 2,000 hours 1,000 hours 4,000 hours Assume that practical capacity is used to calculate the allocation rates Actual usage for the year by the Flashlight Division was 1,500 hours and by the Night Light Division was 800 hours If a dual-rate cost-allocation method is used, what amount of operating costs will be budgeted for the Night Light Division?

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(a) Al Khoud Training Center (KTC) is an industrial training company operating in Muscat Knowledge Oasis. Following increased competition and customer expectations, KTC has been forced to revisit its operational strategy and its quality standards. The following budgeted data for 2022 are available: Number of Trainees 5,500 Operating Income OMR24,000 Budgeted Variable Cost per Trainee Trainee's Support Service Training Materials Foods Budgeted Fixed Cost per Training 14,800 13,000 OMR16 Facilities OMR21 Salaries OMR20 OMR10 Miscellaneous Products & Services Based on the customer survey it conducted, KTC has learned that several improvements to its products and services are required. The improvements would provide the following impacts: Increase in the Number of Trainees 30% Increase in the Total Variable Costs 25% Increase in the Total Fixed Costs 25% You are required to: (1) Calculate the budgeted revenue per trainee based on the available data. (i) Assuming that budgeted revenue per…

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Required information [The following information applies to the questions displayed below.] Professor John Morton has just been appointed chairperson of the Finance Department at Westland University. In reviewing the department's cost records, Professor Morton has found the following total cost associated with Finance 101 over the last five terms: Term Fall, last year Winter, last year Summer, last year. Fall, this year Winter, this year. Number of Sections Offered Required 38 4 6 2 Fixed cost Variable cost Total expected cost 5 3 Professor Morton knows that there are some variable costs, such as amounts paid to graduate assistants, associated with the course. He would like to have the variable and fixed costs separated for planning purposes. Total Cost $ 10,000 $ 14,000 3-a. Assume that because of the small number of sections offered during the Winter Term this year, Professor Morton will have to offer eight sections of Finance 101 during the Fall Term. Compute the expected total cost…

Subject: acounting

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Allocation: Fixed and Variable Costs, Budgeted Fixed and Variable Costs Biotechtron, Inc., has two research laboratories in the Southwest, one in Yuma, Arizona, and the other in Bernalillo, New Mexico. The owner of Biotechtron centralized the legal services function in the Yuma office and had both laboratories send any legal questions or issues to the Yuma office. The legal services support center has budgeted fixed costs of $163,000 per year and a budgeted variable rate of $66 per hour of professional time. The normal usage of the legal services center is 3,220 hours per year for the Yuma office and 1,380 hours per year for the Bernalillo office. This corresponds to the expected usage for the coming year. Required: 1. Determine the amount of legal services support center costs that should be assigned to each office. In your computations, carry ratio values out to two decimal places. Round your final answers to the nearest dollar if rounding is required. Yuma Bernalillo 2. Since the…

Atlanta Sky High Company has two departments, X and Y. The following estimates are for the coming year: X 20,000 Direct manufacturing labor-hours Machine-hours Manufacturing overhead 30,000 $300,000 Y 30,000 20,000 $330,000 The budgeted indirect-cost driver rate for Y based on the number of machine-hours is in excess of X by (Round interim and the final answer to the nearest cent

Subject : Accounting

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Single-rate versus dual-rate methods, support department. The Cincinnati power plant that services all manufacturing departments of Eastern Mountain Engineering has a budget for the coming year. This budget has been expressed in the following monthly terms:

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Service Department Charges Hannibal Steel Company has a Transport Services Department that provides trucks to haul ore from the company’s mine to its two steel mills—the Northern Plant and the Southern Plant. Budgeted costs for the Transport Services Department total $350,000 per year, consisting of $0.25 per ton variable cost and $300,000 fixed cost. The level of fixed cost is determined by peak-period requirements. During the peak period, the Northern Plant requires 70% of the Transport Services Department’s capacity and the Southern Plant requires 30%. During the year, the Transport Services Department actually hauled the following amounts of ore for the two plants: Northern Plant, 130,000 tons; Southern Plant, 50,000 tons. The Transport Services Department incurred $364,000 in cost during the year, of which $54,000 was variable cost and $310,000 was fixed cost. Required: 1. How much of the $54,000 in variable cost should be charged to each plant. 2. How much of the $310,000 in…

Automatic Irrigation, Inc. is preparing its manufacturing overhead budget for the next year. Relevant data consist of the following                                                                        Qtr. 1 Qtr. 2   Qtr. 3    Qtr. 4    Total Control Units to be produced (by quarters): 8,000   7,000   10,000   12,000   37,000 Direct labor time: 1 hour per unit Variable overhead costs per direct labor hour: Indirect Materials $0.80; Indirect Labor $1.10; and Maintenance $0.60. Fixed overhead costs per quarter: Supervisory salaries $19,250; depreciation $3,000; and maintenance $2,250.   Required  Prepare the manufacturing overhead budget for the next year showing quarterly data and the total amounts for the full year.

Cost Data for Managerial PurposesHaverhill Electronics (HE) has offered to supply the county government with one model of its security screening device at “cost plus 20 percent.” HE operates a manufacturing plant that can produce 22,000 devices per year, but it normally produces 20,000. The costs to produce 20,000 devices follow.     Total Cost    Cost perDeviceProduction costs:          Materials    $ 1,000,000    $ 50Labor    2,000,000    100Supplies and other costs that will vary with production    600,000    30Indirect cost that will not vary with production    600,000    30Variable marketing costs    400,000    20Administrative costs (will not vary with production)     1,200,000     60Totals    $ 5,800,000    $290Based on these data, company management expects to receive $348 (= $290 × 120 percent) per device for those sold on this contract. After completing 200 devices, the company sent a bill (invoice) to the government for $69,600 (= 200 devices × $348 per device).The president…

The following data relates to Coachman Company's budgeted amounts for next year. Budgeted Data: Department 1 Department 2 Overhead costs $ 300,000 $ 400,000 Direct labor hours 60,000 DLH 80,000 DLH Machine hours 1,000 MH 2,000 MH What is the company's plantwide overhead rate if machine hours are the allocation base? (Round your answer to two decimal places.) Multiple Choice $100.00 per MH $150.00 per MH $233.33 per MH $4.90 per MH $5.00 per MH Please dont provide answer in image format thank you

A company's planned activity level for next year is expected to be 100000 machine hours. At this level of activity, the company budgeted the following manufacturing overhead costs: Variable Fixed Indirect $220000 Depreciation $50000 materials Indirect labor 250000 Taxes 10000 Factory supplies 30000 Supervision 40000 A flexible budget prepared at the 90000 machine hours level of activity would show total manufacturing overhead costs of $550000. $450000. O $500000. O $540000.

The master budget of Vaughn Manufacturing shows that the planned activity level for next year is expected to be 50000 machine hours. At this level of activity, the following manufacturing overhead costs are expected: Indirect labor Machine supplies Indirect materials Depreciation on factory building Total manufacturing overhead $810000 O $1666000. O$1514000. O $1704000. O $1420000. 190000 230000 190000 $1420000 A flexible budget for a level of activity of 60000 machine hours would show total manufacturing overhead costs of