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bazaltina [42]
3 years ago
13

For each of the following types of indirect expenses and service department expenses, identify one allocation basis that could b

e used to distribute it to the departments indicated.
a. Computer service expenses of production scheduling for operating departments.
b. General office department expenses of the operating departments.
c. Maintenance department expenses of the operating departments.
d. Electric utility expenses of all departments.
Business
1 answer:
hodyreva [135]3 years ago
5 0

Answer: (A) Computer service expenses of production scheduling for operating departments

Explanation:

 The computer services expenses of the production scheduling is one of the type of indirect expenses and also the type of service department expenses type in the operating department.

 The indirect expenses is one of the type of expenses that cannot be directly contribute with the cost object or services in the business department expenses.

 According to the given question, the computer service expenses is one of the allocation basis that is used as the indirect expenses in an organization or firm and the indirect expenses are categorized into two main parts that is:

 1) Fixed

 2) Recurring

Therefore Option (A) is correct answer.          

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Jones Company issued $500,000 of 5%, 10-year bonds payable at a price of 92. The market interest rate on the date of issuance wa
Daniel [21]

Answer:

Date                     Account Title                                       Debit              Credit

XX-XX-XXXX       Interest expense                               $13,800

                            Discount on bond payable                                        $1,300

                            Cash                                                                           $12,500

Working      

The bonds were issued at a price of 92 which means they were issued at:

= 500,000 * 96/100

= $460,000

Interest expense

= Issue price * interest rate * 6/12 months

= 460,000 * 6% * 6/12

= $13,800

Cash:

= Bond price * coupon rate * 6/12

= 500,000 * 5% * 6/12

= $12,500

5 0
3 years ago
Purchase Company recently acquired several businesses and recognized goodwill in each acquisition. Purchase has allocated the re
netineya [11]

Answer:

Purchase Company

                                                                  RU-1           RU-2          RU-3

Goodwill Impairment loss (gain)           $8,300      $44,600 ($383,250)

Explanation:

a) Data and Calculations:

Carrying Amounts

                                   RU-1           RU-2          RU-3

Tangible assets   $215,500   $261,000   $158,250

Trademark            257,000

Customer list        154,500

Unpatented technology        232,500

Licenses                                 100,000

Copyrights                                                  65,500

Goodwill               190,250       187,550     136,500

Liabilities              (35,000)

Book values      $782,250    $781,050  $360,250

Fair values        $773,950    $736,450  $743,500

Goodwill Impairment

 loss (gain)           $8,300      $44,600 ($383,250)

b) Purchase Company will recognize Goodwill impairment expense for RU-1 and RU-2.  It will recognize a Goodwill impairment gain for RU-3.  A goodwill impairment gain results when the fair value is higher than the book value of the net realizable assets.

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Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $206,000 of raw materials on credit
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Answer:

$14,000 under applied

Explanation:

Given that

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The computation of amount of overhead is shown below:-

Overhead = Material production × Application rate

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= $203,000 - $189,000

= $14,000 under applied

Therefore, for computing the overhead we simply multiply the material production with application rate percentage.

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Answer:

Please see the answers below:

Explanation:

1.

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Credit: Notes Payable                 $912,000

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Debit: Interest Payable      $20,064

Credit: Cash                                     $202,464

To record Cash Payment of 1st year Installment and Interest.

3.

Debit: Notes Payable        $182,400

Debit: Interest Payable      $20,064

Credit: Cash                                     $202,464

To record Cash Payment of 2nd year Installment and Interest.

4.

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Credit: Accumulated Depreciation               $91,200

To record Depreciation Expense on Equipment over the life of 10 years with no salvage value. (Straight Line Depreciation is employed).

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