Tree pruning and care: | ||||||
Grade | Allocation Base | Percent of Allocation Base | x Indirect Cost | Allocated Cost | ||
Nos. | Sales value | Numerator | Denominator | % of Total | ||
No. 1 | $ 415,800 | $ 415,800 | $ 990,000 | 42% | $ 415,800 | $ 174,636 |
No. 2 | $ 376,200 | $ 376,200 | $ 990,000 | 38% | $ 415,800 | $ 158,004 |
No. 3 | $ 198,000 | $ 198,000 | $ 990,000 | 20% | $ 415,800 | $ 83,160 |
Totals | $ 990,000 | 100% | $ 415,800 | |||
Picking, sorting, and Grading: | ||||||
Grade | Allocation Base | Percent of Allocation Base | x Indirect Cost | Allocated Cost | ||
Nos. | Sales value | Numerator | Denominator | % of Total | ||
No. 1 | $ 415,800 | $ 415,800 | $ 990,000 | 42% | $ 277,200 | $ 116,424 |
No. 2 | $ 376,200 | $ 376,200 | $ 990,000 | 38% | $ 277,200 | $ 105,336 |
No. 3 | $ 198,000 | $ 198,000 | $ 990,000 | 20% | $ 277,200 | $ 55,440 |
Totals | $ 990,000 | 100% | $ 277,200 | |||
Delivery: | ||||||
Grade | Allocation Base | Percent of Allocation Base | x Indirect Cost | Allocated Cost | ||
Nos. | Sales value | Numerator | Denominator | % of Total | ||
No. 1 | $ 415,800 | $ 415,800 | $ 792,000 | 52.5% | $ 31,400 | $ 16,485 |
No. 2 | $ 376,200 | $ 376,200 | $ 792,000 | 47.5% | $ 31,400 | $ 14,915 |
$ 792,000 | $ 31,400 | |||||
No. 3 | $ 198,000 | $ 198,000 | $ 198,000 | 100% | $ 38,200 | $ 38,200 |
Totals | $ 990,000 | $ 69,600 |
please assist on this problem Saved Required information [The following information applies to the questions displayed...
need help Required information [The following information applies to the questions displayed below.) Georgia Orchards produced a good crop of peaches this year. After preparing the following income statement, the company is concerned about the net loss on its No. 3 peaches. GEORGIA ORCHARDS Income Statement For Year Ended December 31, 2017 No. 1 No. 2 No. 3 Combined Sales (by grade) No. 11 198,000 lbs. 52.10/1b $415,800 No. 21 198.000 lbs. $1.90/1b $376,200 No. 31 990,000 lbs. $0.20/1b $...
Problem 22-5AB Allocation of joint costs LO C3 [The following information applies to the questions displayed below.] Georgia Orchards produced a good crop of peaches this year. After preparing the following income statement, the company believes it should have given its No. 3 peaches to charity and saved its efforts. GEORGIA ORCHARDS Income Statement For Year Ended December 31, 2015 No. 1 No. 2 No. 3 Combined $486,000 Sales (by grade) No. 1: 270,000 lbs. @ $1.80/lb No. 2: 270,000...
I will leaving a good rating! 2 Georgia Orchards produced a good crop of peaches this year. After preparing the following income statement, the company is concerned about the net loss on its No. 3 peaches. GEORGIA ORCHARDS Incomc Statement For Year Ended December 31, 2017 Part 1of2 Combined No. 1 No. 2 No. 3 Sales by grade t% No. 11 420,000 Ibs. e S1.20/1b No. 2: 120,000 Iba. $0.80/Lb No. 3: 840,000 Ibs. S0.25/1b Total sales S504,000 $33, C00...
Bloom Orchards produced a good crop of peaches this year. After preparing the following income statement, the company believes it should have given its No. 3 peachesto charity and saved its efforts.BLOOM ORCHARDSIncome StatementFor Year Ended December 31, 2011No. 1 No. 2 No. 3 CombinedSales (by grade)No. 1: 450,000 Ibs. @ $5.50/lb $ 2,475,000No. 2: 400,000 Ibs. @ $4.95/lb $ 1,980,000No. 3: 920,000 Ibs. @ $0.65/lb $ 598,000Total sales $ 5,053,000CostsTree pruning and care @ $0.60/Ib 270,000 240,000 552,000 1,062,000Picking,...
Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago $ 31,000 87,300 110,500 10,950 279,000 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 35,750 $ 38,600 63,500 49,500 82,400...
Required information [The following information applies to the questions displayed below.) Summary information from the financial statements of two companies competing in the same industry follows. Barco Kyan Company Company Data from the current year-end balance sheets Assets Cash $ 18,000 $ 35,000 Accounts receivable, net 40,400 54,400 Merchandise inventory 85,040 134,500 Prepaid expenses 5,500 7,750 Plant assets, net 320,000 312,400 Total assets $ 468,940 $544,050 Barco Kyan Company Company Data from the current year's income statement Sales $800,000 $882,200...
Required information (The following information applies to the questions displayed below) Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XT, a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next year's plans call for a $190 selling price per 100 yards of XT rope. Its fixed costs...
Required information (The following information applies to the questions displayed below.) Summary information from the financial statements of two companies competing in the same industry follows. Barco Kyan Company Company Data from the current year-end balance sheets Assets Cash $ 22,000 $ 35,000 Accounts receivable, net 33,400 51,400 Merchandise inventory 84,640 134,500 Prepaid expenses 5,900 7,650 Plant assets, net 360,000 306, 400 Total assets $505,940 $534,950 Barco Kyan Company Company Data from the current year's income statement Sales $770,000 $912,200...
Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 37,196 89,500 114,000 11,978 359,398 $ 612,072 $ 43,478 $ 43,531 62,100...
Required Informetlon The following information applies to the questions displayed below. Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by 2817 2816 2815 38,288 35,750 $38,28e 51,eee 89,380 113,eee 18,580 62,see 81,800 9,480 52,58 4,888 278,80 254,58 232,8ee 5521,808 $443,158 378,58e $13e,8ee 73,8 51,886e mortgages on plant assets Common stock, $18 par value Retained earnings Total...