Homework Answers
| Activity cost pool | rate per activity | activity in 2016 | cost allocated in 2016 |
| Researching legal issue | 35 | 660 | 23,100 |
| Preparing legal document | 16 | 25,000 | 400,000 |
| Meeting with clients | 200 | 10,000 | 2,00,000 |
| Total | 2,423,100 |
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4. Horton, Reiser, and Associates, a law firm. employs ABC. The following budgeted data for each of the activity co...
Goodman and Associates, a law firm, employs ABC. The following budgeted data for each of the...
Goodman and Associates, a law firm, employs ABC. The following budgeted data for each of the activity cost pools is provided for the year 2019. (19 pts) Estimated Expected Use of Activity Cost Pools Overhead Cost Drivers per Activity Researching legal issues $ 31,500 900 research hours Preparing legal documents 480,000 30,000 pages Meeting with clients 1,760,000 8,800 professional hours During 2019 the firm worked 660 research hours, 10,000 professional hours, and prepared...
6. Goodman and Associates, a law firm, employs ABC. The following budgeted data for each of...
6. Goodman and Associates, a law firm, employs ABC. The following budgeted data for each of the activity cost pools is provided for the year 2019. (19 pts) Estimated Expected Use of Activity Cost Pools Overhead Cost Drivers per Activity Researching legal issues $ 31,500 900 research hours Preparing legal documents 480,000 30,000 pages Meeting with clients. 1.760,000 8,800 professional hours During 2019 the firm worked 660 research hours, 10,000 professional hours, and prepared 25,000 document pages. Instructions Compute the...
1. Milton Manufacturing has three departments (or activities) in its manufacturing process: machine setups, machining, and...
1. Milton Manufacturing has three departments (or activities) in its manufacturing process: machine setups, machining, and inspections. Estimated annual overhead cost for each activity is $80,000, 162,500, and $28,000, respectively. The expected annual use for each activity is 1,000 setups, 12,500 machine hours, and 875 inspections Compute the overhead rate for each activity Machine Setups Machinin Inspections 2. Wilson Bradley & Associates, a law firm, uses Activity Based Costing for assigning overhead costs. The following budgeted data for each of...
question 3 and 4 3. Data concerning three of the activity cost pools of Coutes LLC,...
question 3 and 4
3. Data concerning three of the activity cost pools of Coutes LLC, a legal firm, have been provided below Activity Cost Pools Researching legal issues. Meeting with clients ........ Preparing documents ...... Total Cost S29,920 $665,500 $116,820 Total Activity 680 research hours 5,324 meeting hours 6,490 documents The activity rate for the "meeting with clients' activity cost pool is: Answer: $125 per meeting hour 110 points) 4.665.00 $125 5324 4. Westin Company uses activity-based costing to...
Data concerning three of the activity cost pools of Brevo LLC, a legal firm are presented...
Data concerning three of the activity cost pools of Brevo LLC, a legal firm are presented below: Activity Cost Pools Research legal issues Meeting with clients Preparing documents Total Activity Total Cost $20,900 550 research hours $154,791 1,053 meeting hours $90,400 5,650 documents The activity rate for the "meeting with clients" activity cost pool is closest to: $147 per meeting hour $154,791 per meeting hour $37 per meeting hour $68 per meeting hour
4. Data concerning three of the activity cost pools of Brook LLC, a legal firm, have...
4. Data concerning three of the activity cost pools of Brook LLC, a legal firm, have been provided below: Activity Cost Pools Researching legal issues. Meeting with clients ....... Preparing documents ...... Total Cost $29,920 $665,500 $116,820 Total Activity 680 research hours 5,324 meeting hours 6,490 documents The activity rate for the "meeting with clients" activity cost pool is closest to: 5. Matt Company uses activity-based costing. The company has two products: A and B. The annual production and sales...
Data concerning three of the activity cost pools of French Company, an accounting firm, have been...
Data concerning three of the activity cost pools of French Company, an accounting firm, have been provided below: Activity Cost pools Total Cost Total activity Researching accounting issues $ 20,900 550 research hours Meeting with clients $155,000 1,000 meeting hours Preparing documents $90,400 5,650 documents The activity rate for the meeting with clients" activity cost pool is closest to: $147 per meeting hour $154,791 per meeting hour $37 per meeting hour 5155 per meeting hour Ocho Corporation uses the following...
BE4.7 (LO 2), AP Spud, Inc. a manufacturer of gourmet potato chips, employs activity-based costing. The...
BE4.7 (LO 2), AP Spud, Inc. a manufacturer of gourmet potato chips, employs activity-based costing. The budgeted data for each of the activity cost pools is provided below for the year 2020. Estimated Estimated Use of Activity Cost Pools Overhead Cost Drivers per Activity Ordering and receiving $ 84,000 12,000 orders Food processing 480,000 60,000 machine hours Packaging 1,760,000 440,000 labor hours For 2020, the company had 11,000 orders and used 50,000 machine hours, and labor hours totaled 500,000. What...
Spud, Inc. a manufacturer of gourmet potato chips, employs activity-based costing. The budgeted data for each...
Spud, Inc. a manufacturer of gourmet potato chips, employs activity-based costing. The budgeted data for each of the activity cost pools is provided below for the year 2020. Activity Cost Pools Ordering and receiving Food processing Packaging Estimated Overhead $73,800 420,750 1,365,000 Estimated Use of Cost Drivers per Activity 12,000 orders 55,000 machine hours 420,000 labor hours For 2020, the company had 10,000 orders and used 48,000 machine hours, and labor hours totaled 490,000. Calculate the overhead rates for each...
Keaton & Associates is a law firm specializing in labor relations and employee-related work. It employs...
Keaton & Associates is a law firm specializing in labor relations and employee-related work. It employs 2525 professionals (55 partners and 2020 associates) who work directly with its clients. The average budgeted total compensation per professional for 2017 is $ 117 000. Each professional is budgeted to have 1800 billable hours to clients in 2017. All professionals work for clients to their maximum 1 800 billable hours available. All professional labor costs are included in a single direct-cost category and...
6. Goodman and Associates, a law firm, employs ABC. The following budgeted data for each of the activity cost pools is provided for the year 2019. (19 pts) Estimated Expected Use of Activity Cost Pools Overhead Cost Drivers per Activity Researching legal issues $ 31,500 900 research hours Preparing legal documents 480,000 30,000 pages Meeting with clients. 1.760,000 8,800 professional hours During 2019 the firm worked 660 research hours, 10,000 professional hours, and prepared 25,000 document pages. Instructions Compute the...
1. Milton Manufacturing has three departments (or activities) in its manufacturing process: machine setups, machining, and inspections. Estimated annual overhead cost for each activity is $80,000, 162,500, and $28,000, respectively. The expected annual use for each activity is 1,000 setups, 12,500 machine hours, and 875 inspections Compute the overhead rate for each activity Machine Setups Machinin Inspections 2. Wilson Bradley & Associates, a law firm, uses Activity Based Costing for assigning overhead costs. The following budgeted data for each of...
question 3 and 4
3. Data concerning three of the activity cost pools of Coutes LLC, a legal firm, have been provided below Activity Cost Pools Researching legal issues. Meeting with clients ........ Preparing documents ...... Total Cost S29,920 $665,500 $116,820 Total Activity 680 research hours 5,324 meeting hours 6,490 documents The activity rate for the "meeting with clients' activity cost pool is: Answer: $125 per meeting hour 110 points) 4.665.00 $125 5324 4. Westin Company uses activity-based costing to...
Data concerning three of the activity cost pools of Brevo LLC, a legal firm are presented below: Activity Cost Pools Research legal issues Meeting with clients Preparing documents Total Activity Total Cost $20,900 550 research hours $154,791 1,053 meeting hours $90,400 5,650 documents The activity rate for the "meeting with clients" activity cost pool is closest to: $147 per meeting hour $154,791 per meeting hour $37 per meeting hour $68 per meeting hour
4. Data concerning three of the activity cost pools of Brook LLC, a legal firm, have been provided below: Activity Cost Pools Researching legal issues. Meeting with clients ....... Preparing documents ...... Total Cost $29,920 $665,500 $116,820 Total Activity 680 research hours 5,324 meeting hours 6,490 documents The activity rate for the "meeting with clients" activity cost pool is closest to: 5. Matt Company uses activity-based costing. The company has two products: A and B. The annual production and sales...
Data concerning three of the activity cost pools of French Company, an accounting firm, have been provided below: Activity Cost pools Total Cost Total activity Researching accounting issues $ 20,900 550 research hours Meeting with clients $155,000 1,000 meeting hours Preparing documents $90,400 5,650 documents The activity rate for the meeting with clients" activity cost pool is closest to: $147 per meeting hour $154,791 per meeting hour $37 per meeting hour 5155 per meeting hour Ocho Corporation uses the following...
BE4.7 (LO 2), AP Spud, Inc. a manufacturer of gourmet potato chips, employs activity-based costing. The budgeted data for each of the activity cost pools is provided below for the year 2020. Estimated Estimated Use of Activity Cost Pools Overhead Cost Drivers per Activity Ordering and receiving $ 84,000 12,000 orders Food processing 480,000 60,000 machine hours Packaging 1,760,000 440,000 labor hours For 2020, the company had 11,000 orders and used 50,000 machine hours, and labor hours totaled 500,000. What...
Spud, Inc. a manufacturer of gourmet potato chips, employs activity-based costing. The budgeted data for each of the activity cost pools is provided below for the year 2020. Activity Cost Pools Ordering and receiving Food processing Packaging Estimated Overhead $73,800 420,750 1,365,000 Estimated Use of Cost Drivers per Activity 12,000 orders 55,000 machine hours 420,000 labor hours For 2020, the company had 10,000 orders and used 48,000 machine hours, and labor hours totaled 490,000. Calculate the overhead rates for each...
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