Homework Answers
| Department A | Department B | Department C | ||
| Depreciation | $75,000 | $45,000 | $30,000 | (Based on Equipment cost) |
| Real estate taxes | $27,000 | $13,500 | $4,500 | (Based on Square feet of floor space) |
| Personal property taxes | $30,000 | $27,000 | $15,000 | (Based on Inventory & Equipment cost) |
| Personnel department expenses | $0 | $0 | $0 | (Common cost, not be allocated) |
| Working | ||||
| Department A | Department B | Department C | Total | |
| Inventory | $100,000 | $360,000 | $140,000 | $600,000 |
| Equipment (average cost) | $900,000 | $540,000 | $360,000 | $1,800,000 |
| Payroll | $607,500 | $540,000 | $202,500 | $1,350,000 |
| Square feet of floor space | 27,000 | 13,500 | 4,500 | 45,000 |
| Department A | ||||
| Depreciation | $150000 x $900,000/$1,800,000 | |||
| Real estate taxes | $45000 x 27,000/45,000 | |||
| Personal property taxes | $72,000 x ($100,000 + $900,000)/($600,000 + $1,800,000) | |||
| Personnel department expenses | $0 | |||
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Assigning Traceable Fixed Expenses Selected data for Colony Company, which operates three departments, follow: Department A...
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Fill in the blanks please
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please fill out the rest of a, b, and c
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Fill in the blanks please
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Variable and Absorption Costing Summarized data for 2016 (the first year of operations) for Gorman Products, Inc., are as follows: Sales (75,000 units) $4,500,000 Production costs (80,000 units) Direct material 1,320,000 Direct labor 1,080,000 Manufacturing overhead: Variable 816,000 Fixed 480,000 Operating expenses: Variable 252,000 Fixed 360,000 Depreciation on equipment 90,000 Real estate taxes 27,000 Personal property taxes inventory & equipment) 43,200 Personnel department expenses 45,000 a. Prepare an income statement based on full absorption costing, Only use a negative sign...
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