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Eddi Din [679]
3 years ago
12

Activity Budgeted Activity Cost

Business
1 answer:
vampirchik [111]3 years ago
3 0

Answer:

Activity Rate = Activity Cost/ Driver Costs= $ 500,000/10,000= 50

    Activity             Budgeted         Budgeted      Budgeted

                            Activity Cost       Cost Driver      Activity Rate

Production       $500,000                    10,000                    50

Setup              $144,000                       450                         320

Inspection      $44,000                       1100                           40

Shipping         $115,000                     5750                          20

Customer service $84,000              600                            140

Total            $887,000

                              White               Brown        Powdered      Total

                                Sugar              Sugar            Sugar  

Units                        10,000              5000            5000      20,000

Production              250,000         125,000       125,000     500,000

Setup                   $ 27200              54,400         62400      144,000

Inspection          $ 8800                13200               22000      44000

Shipping               $ 23000            52,000            40,000       115000

Customer service   $ 8400           49,000            26,600      $ 84,000        

Total                       $ 317,400       $ 293,600        $276,000   $887,000

Per Unit Cost           $ 31.74              $58.72         $ 55

<u>Working </u>

                                White               Brown        Powdered      Total

                                Sugar              Sugar            Sugar  

Machine Hours  5000                   2500             2500           10,000

<u>Production             *50                   *50               *50</u>

<u>                             $ 250,000           $ 125,000     $ 125,000</u>

Number of setups  85                    170                 195             450

<u>Setup                       * 320               * 320              * 320</u>

<u>                              27,200              54,400            62,400</u>

Number of inspections  220           330              550             1100

<u>Inspection                     *40               *40                 *40</u>

<u>                                    8800             13200            22000</u>

Number of customer     1150           2600           2000          5750

Orders  

<u>Shipping                          *20             *20               *20</u>

<u>                                        23,000       52000             40,000  </u>

Number of customer  60                350                190           600

Service Requests

<u>Customer service      *140            *140                 *140</u>

<u>                                    8400          49000            26,600</u>

Units                        10,000              5000            5000      20,000

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A company purchased $270,000 in supplies during the year. The supplies account increased by $10,000 during the year to an ending
LuckyWell [14K]

Answer:

$260,000

Explanation:

Opening balance = Ending balance - Increase in ending balance

=$66,000 - $10,000

=$56,000

Supplies Expenses = Opening balance + Purchases - Closing balance

=$56,000 + $270,000 - $66,000

=$336,000 - $66,000

=$260,000

Therefore, the amount that will be the adjusting entry to supplies expenses is $260,000

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3 years ago
Shawn Company had 130 units in beginning inventory at a total cost of $13,650. The company purchased 260 units at a total cost o
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Answer:

FIFO

cost of the ending inventory = $15,680

cost of goods sold  = $39,570

LIFO

cost of the ending inventory  = $10,290

cost of goods sold  = $44,960

Average Cost Method

cost of the ending inventory = $13,883.37

cost of goods sold  = $41,336.76

Explanation:

The cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost are calculated as follows :

Step 1 : Determine the Number of units sold

Number of units sold = Total units available for sale - Ending units

                                   = 390 units - 98 units

                                   = 292 units

Step 2 : Determine the Number of units in inventory

Number of units in inventory = 98 units (given)

Step 3 : Use the appropriate principles to calculate required values

<u>FIFO</u>

cost of the ending inventory = 98 x $160 = $15,680

cost of goods sold = 130 units x $105 + 162 units x $160 = $39,570

<u>LIFO</u>

cost of the ending inventory = 98 x $105 = $10,290

cost of goods sold = 260 units x $160 + 32 units x $105 = $44,960

<u>Average Cost Method</u>

Unit Cost = ($13,650 + $41,600) ÷ 390 units = $141.667

therefore,

cost of the ending inventory = 98 x $141.667 = $13,883.37

cost of goods sold = 292 units x $141.667 = $41,336.76

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In other words, it can be defined as an intangible asset which an organisation creates over a period of time while establishing the brand image. These assets are not depreciated but are tested for impairment every year. For example brands like apple, Reebok and McDonald have high goodwill in the market which attracts customers towards them

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