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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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Assigning Costs to Activities

Craig Company produces electronic components for cell phone producers. The receiving department at Craig has eight clerks who process incoming goods. The total cost of their salaries is $440,000. The work distribution for the activities that they perform is as follows:

Chapter 5, Problem 32BEB, Assigning Costs to Activities Craig Company produces electronic components for cell phone producers.

Required:

Assign the cost of labor to each of the three activities in the receiving department.

To determine

Apportion labor costs to the three activities in the receiving department.

Explanation

Cost:

Cost can be defined as the cash and cash equivalent which is incurred against the products or its related services which will benefit the organization in the future. There are two types of costs that are direct and indirect costs.

Assignment of costs to various activities:

Activity

Total Costs (A)

($)

Time on each Activity (B)

(%)

Cost Assignment (C)

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