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As You Like It Gardening is a small gardening service that uses activity-based costing to estimate costs for pricing and other purposes. The proprietor of the company believes that costs are driven p
As You Like It Gardening is a small gardening service that uses activity-based costing to estimate costs for pricing and other purposes. The proprietor of the company believes that costs are driven primarily by the size of customer lawns, the size of customer garden beds, the distance to travel to customers, and the number of customers. In addition, the costs of maintaining garden beds depends on whether the beds are low-maintenance beds (mainly ordinary trees and shrubs) or high-maintenance beds (mainly flowers and exotic plants). Accordingly, the company uses the five activity cost pools listed below:   Activity Cost Pool Activity Measure                           Caring for lawn   Square feet of lawn   Caring for garden beds—low maintenance   Square feet of low-maintenance beds   Caring for garden beds—high maintenance   Square feet of high-maintenance beds   Travel to jobs   Miles   Customer billing and service   Number of customers      The company has already completed its first-stage allocations of costs. The company’s annual costs and activities are summarized as follows:   Activity Cost Pool Estimated Overhead Cost Expected Activity                             Caring for lawn $ 77,400     180,000  square feet of lawn   Caring for garden beds—low maintenance $ 30,000     24,000  square feet of low-maintenance beds   Caring for garden beds—high maintenance $ 57,600     18,000  square feet of high-maintenance beds   Travel to jobs $ 4,200     15,000  miles   Customer billing and service $ 8,700     30  customers Required: Compute the activity rate for each of the activity cost pools. (Round your answers to 2 decimal places. Omit the "$" sign in your response.)
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er square foot of low maintenance beds Caring for garden beds—high maintenance $ per square foot of high maintenance beds Travel to jobs $ per mile Customer billing and service $ per customer Explanation: Activity Cost Pool Estimated Overhead Cost Expected Activity Activity Rate Caring for lawn $ 77,400 180,000 square feet of lawn $ 0.43 per square foot of lawn Caring for garden beds—low maintenance $ 30,000 24,000 square feet of low maintenance beds $ 1.25 per square foot of low maintenance beds...(985 more words & 0 attachments).
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VaultOnWheels Corporation operates a fleet of armored cars that make scheduled pickups and deliveries for its customers in the Phoenix area. The company is implementing an activity-based costing syst
VaultOnWheels Corporation operates a fleet of armored cars that make scheduled pickups and deliveries for its customers in the Phoenix area. The company is implementing an activity-based costing system that has four activity cost pools: Travel, Pickup and Delivery, Customer Service, and Other. The activity measures are miles for the Travel cost pool, number of pickups and deliveries for the Pickup and Delivery cost pool, and number of customers for the Customer Service cost pool. The Other cost pool has no activity measure because it is an organization-sustaining activity. The following costs will be assigned using the activity-based costing system:       Driver and guard wages $ 840,000     Vehicle operating expense   270,000     Vehicle depreciation   150,000     Customer representative salaries and expenses   180,000     Office expenses   40,000     Administrative expenses   340,000       Total cost $ 1,820,000     The distribution of resource consumption across the activity cost pools is as follows:   Travel   Pickup and Delivery Customer Service Other Totals     Driver and guard wages 40 % 45 % 10 % 5 % 100 %   Vehicle operating expense 75 % 5 % 0 % 20 % 100 %   Vehicle depreciation 70 % 10 % 0 % 20 % 100 %   Customer representative salaries and expenses 0 % 0
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onsumption across the activity cost pools is as follows: Travel Pickup and Delivery Customer Service Other Totals Driver and guard wages 40 % 45 % 10 % 5 % 100 % Vehicle operating expense 75 % 5 % 0 % 20 % 100 % Vehicle depreciation 70 % 10 % 0 % 20 % 100 % Customer representative...(2092 more words & 0 attachments).
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The following activities occur at Greenwich Corporation, a company that manufactures a variety of products. Classify each of the activities below as either a unit-level, batch-level, product-level, o
The following activities occur at Greenwich Corporation, a company that manufactures a variety of products. Classify each of the activities below as either a unit-level, batch-level, product-level, or organization sustaining activity.  a.     Various individuals manage the parts inventories.          b.     A clerk in the factory issues purchase orders for a job.           c.     The personnel department trains new production workers.         d.     The factory’s general manager meets with other department heads such as marketing to coordinate plans.       e.     Direct labor workers assemble products.           f.     Engineers design new products.          g.     The materials storekeeper issues raw materials to be used in jobs.         h.     The maintenance department performs periodic preventive maintenance on general-use equipment.                                                
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ms periodic preventive maintenance on general-use equipment.The following activities occur at Greenwich Corporation, a company that manufactures a variety of pro...(310 more words & 0 attachments).
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Calgon Products, a distributor of organic beverages, needs a cash budget for September. The following information is available: a. The cash balance at the beginning of September is $9,000. b. Actua
Calgon Products, a distributor of organic beverages, needs a cash budget for September. The following information is available: a. The cash balance at the beginning of September is $9,000. b. Actual sales for July and August and expected sales for September are as follows:   July August September   Cash sales $ 6,500    $ 5,250    $ 7,400      Sales on account   20,000      30,000      40,000        Total sales $ 26,500    $ 35,250    $ 47,400            Sales on account are collected over a three-month period as follows: 10% collected in the month of sale, 70% collected in the month following sale, and 18% collected in the second month following sale. The remaining 2% is uncollectible. c. Purchases of inventory will total $25,000 for September. Twenty percent of a month's inventory purchases are paid for during the month of purchase. The accounts payable remaining from August's inventory purchases total $16,000, all of which will be paid in September. d. Selling and administrative expenses are budgeted at $13,000 for September. Of this amount, $4,000 is for depreciation. e. Equipment costing $18,000 will be purchased for cash during September, and dividends totaling $3,000 will be paid during the month. f. The company maintains a minimum cash balance of $5,000. An open line of credit is available from the company's bank to bolster the cash balance as needed.     Required: 1. Prepare a schedule of expected cash collections for September. (Do not round intermediate calculations. Omit the "$" sign in your response.)2. Prepare a schedule of expected cash disbursements for inventory purchases for September. (Do not round intermediate calculations. Omit the "$" sign in your response.)
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g that will be needed during September. Assume that any interest will not be paid until the following month. (Input all amounts as positive values except cash deficiency, repayments and interest which should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.) Calgon Products Cash Budget For the Month of September Cash balance, beginning $ Add cash receipts: Collections from customers Total cash available before current financing Less disbursements: Payments to suppliers for inventory $ Selling and administrative expenses Equipment purchases Divide...(1746 more words & 0 attachments).
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Tonga Toys manufactures and distributes a number of products to retailers. One of these products, Playclay, requires three pounds of material A135 in the manufacture of each unit. The company is now
Tonga Toys manufactures and distributes a number of products to retailers. One of these products, Playclay, requires three pounds of material A135 in the manufacture of each unit. The company is now planning raw materials needs for the third quarter—July, August, and September. Peak sales of Playclay occur in the third quarter of each year. To keep production and shipments moving smoothly, the company has the following inventory requirements: a. The finished goods inventory on hand at the end of each month must be equal to 5,000 units plus 30% of the next month’s sales. The finished goods inventory on June 30 is budgeted to be 17,000 units. b. The raw materials inventory on hand at the end of each month must be equal to one-half of the following month’s production needs for raw materials. The raw materials inventory on June 30 for material A135 is budgeted to be 64,500 pounds. c. The company maintains no work in process inventories. A sales budget for Playclay for the last six months of the year follows.   Budgeted Sales in Units   July 40,000                August 50,000                September 70,000                October 35,000                November 20,000                December 10,000              Required: 1. Prepare a production budget for Playclay for the months July, August, September, and October. (Input all amounts as positive values. Do not round intermediate calculations.) 3. Prepare a direct materials budget showing the quantity of material A135 to be purchased for July, August, and September and for the quarter in total. (Input all amounts as positive values. Do not round intermediate calculations.)
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s for the third quarter—July, August, and September. Peak sales of Playclay occur in the third quarter of each year. To keep production and shipments moving smoothly, the company has the following inventory requirements: a. The finished goods inventory on hand at the end of each month must be equal to 5,000 units plus 30% of the next month’s sales. The finished goods inventory on June 30 is budgeted to be 17,000 units. b. The raw materials inventory on hand at the end of each month must be equal to one-half of the followi...(1917 more words & 0 attachments).
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The direct labor budget of Krispin Corporation for the upcoming fiscal year includes the following budgeted direct labor-hours. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted direct
The direct labor budget of Krispin Corporation for the upcoming fiscal year includes the following budgeted direct labor-hours.   1st Quarter 2nd Quarter 3rd Quarter 4th Quarter   Budgeted direct labor-hours 5,000 4,800 5,200 5,400      The company’s variable manufacturing overhead rate is $1.75 per direct labor-hour and the company’s fixed manufacturing overhead is $35,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $15,000 per quarter. Required: 1. Complete the company's manufacturing overhead budget for the upcoming fiscal year. (Input all amounts as positive values. Omit the "$" sign in your response.) 2. Compute the company's manufacturing overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
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he company's manufacturing overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. (Round your answer to 2 decimal places. Omit the "$"...(1483 more words & 0 attachments).
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The production manager of Junnen Corporation has submitted the following forecast of units to be produced for each quarter of the upcoming fiscal year. 1st Quarter 2nd Quarter 3rd Quarter 4th Q
The production manager of Junnen Corporation has submitted the following forecast of units to be produced for each quarter of the upcoming fiscal year.   1st Quarter 2nd Quarter 3rd Quarter 4th Quarter   Units to be produced 5,000 4,400 4,500 4,900 Each unit requires 0.40 direct labor-hours and direct labor-hour workers are paid $11 per hour. Required: 1. Complete the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. (Omit the "$" sign in your response.)
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er of hours required to produce the forecasted number of units produced. (Omit the "$" sign in your response.)The production man...(1346 more words & 0 attachments).
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Micro Products, Inc., has developed a very powerful electronic calculator. Each calculator requires three small “chips” that cost $2 each and are purchased from an overseas supplier. Micro Products h
Micro Products, Inc., has developed a very powerful electronic calculator. Each calculator requires three small “chips” that cost $2 each and are purchased from an overseas supplier. Micro Products has prepared a production budget for the calculator by quarters for Year 2 and for the first quarter of Year 3, as shown below:        Year 2   Year 3     First Second Third Fourth   First     Budgeted production, in calculators 60,000   90,000   150,000   100,000     80,000              The chip used in production of the calculator is sometimes hard to get, so it is necessary to carry large inventories as a precaution against stockouts. For this reason, the inventory of chips at the end of a quarter must equal 20% of the following quarter’s production needs. A total of 36,000 chips will be on hand to start the first quarter of Year 2.       Required: Prepare a direct materials budget for chips, by quarter and in total, for Year 2. (Do not round intermediate calculations. Input all amounts as positive values. Omit the "$" sign in your response.)
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ion budget for the calculator by quarters for Year 2 and for the first quarter of Year 3, as shown below: Year 2 Year 3 First Second Third Fourth First Budgeted production, in ca...(1455 more words & 0 attachments).
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Crystal Telecom has budgeted the sales of its innovative mobile phone over the next four months as follows: Sales in Units July 30,000 August 45,000 September 60,000 Oc
Crystal Telecom has budgeted the sales of its innovative mobile phone over the next four months as follows: Sales in Units   July   30,000     August   45,000     September   60,000     October   50,000   The company is now in the process of preparing a production budget for the third quarter. Past experience has shown that end-of-month finished goods inventories must equal 10% of the next month’s sales. The inventory at the end of June was 3,000 units. Required: Prepare a production budget for the third quarter showing the number of units to be produced each month and for the quarter in total. (Do not round intermediate calculations. Input all amounts as positive values.)
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000 October 50,000 The company is now in the process of preparing a production budget for the third quarter. Past experience h...(912 more words & 0 attachments).
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Midwest Products is a wholesale distributor of leaf rakes. Thus, peak sales occur in August of each year as shown in the company’s sales budget for the third quarter, given below: July August Se
Midwest Products is a wholesale distributor of leaf rakes. Thus, peak sales occur in August of each year as shown in the company’s sales budget for the third quarter, given below:   July August September Total   Budgeted sales (all on account) $ 600,000     $ 900,000     $ 500,000     $ 2,000,000   From past experience, the company has learned that 20% of a month’s sales are collected in the month of sale, another 70% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. Bad debts are negligible and can be ignored. May sales totaled $430,000, and June sales totaled $540,000. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the third quarter. (Do not round intermediate calculations. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.) 2. Assume that the company will prepare a budgeted balance sheet as of September 30. Compute the accounts receivable as of that date. (Do not round intermediate calculations. Omit the "$" sign in your response.)
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in total, for the third quarter. (Do not round intermediate calculations. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.) 2. Assume that the company will prepare a bu...(1507 more words & 0 attachments).
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