Unused resources:
Process transactions = $625,000 - (40,000,000 X $0.01) = $225,000
Process accounts = $300,000 - (950 X $250) = $62,500
Berkeley Bank reports the following information about resources in two functions. Cost Driver Rate Cost Driver...
Conlon Enterprises reports the following information about resources. Cost Driver Rate Cost Driver Volume $ 375 per run 350 runs 45 per page 1, wee pages Resources used Setups Clerical Resources supplied Setups Clerical $135,000 60,000 Sales revenue totaled $240,000. Required: a. Prepare a traditional income statement b. Prepare an activity based income statement. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a traditional Income statement. Traditional Income Statement Sales revenue Setup...
South Beach Industries reports the following information about resources. At the beginning of the year, South Beach estimated it would spend $186,200 for materials, $57,000 for purchasing, $50,000 for setups, and $51,000 for repairs. Cost Driver Rate Volume $ $ 10/1b 260/purchase order 420/setup 38/Job 19,100 lbs 160 purchase orders 85 setups 600 jobs Resources used Materials Purchasing Setups Repairs Resources supplied Materials Purchasing Setups Repairs $ 199,900 $ 46,450 $ 36,950 $ 36,100 Compute unused resource capacity for materials...
South Beach Industries reports the following information about resources. At the beginning of the year, South Beach estimated it would spend $180,000 for materials, $42,000 for purchasing, $35,000 for setups, and $36,000 for repairs. Cost Driver Rate Volume Resources used Materials $ 10 /lb 18,350 lbs Purchasing $ 250 /purchase order 160 purchase orders Setups $ 450 /setup 80 setups Repairs $ 36 /job 700 jobs Resources supplied Materials $ 192,700 Purchasing $ 44,300 Setups $ 37,500 Repairs $ 30,000...
South Beach Industries reports the following information about resources. At the beginning of the year, South Beach estimated it would spend $219,800 for materials, $46,000 for purchasing, $39,000 for setups, and $40,000 for repairs. Cost Driver Rate Volume Resources used: Materials $ 12 /lb 18,550 lbs Purchasing $ 260 /purchase order 180 purchase orders Setups $ 440 /setup 85 setups Repairs $ 38 /Job 650 jobs Resources supplied: Materials $ 231,900 Purchasing $ 51,500 Setups $ 39,100 Repairs $ 30,300...
Simplifying the ABC System: TDABC Golding Bank provided the following data about its resources and activities for its checking account process: Resources Activities Time per Unit Activity Driver Supervision Phone and supplies $70,000 90,000 Processing accounts Issuing statements 0.20 hr. No. of accounts 0.10 hr No. of statements Salaries 275,000 Processing transactions 0.05 hr. No. of transactions Computer 25,000 Answering customer inquiries 0.15 hr. No. of inquiries Total $460,000 Total check processing hours 25,000 (practical capacity) Required: 1. Calculate the...
Assigning Cost of Resources to Activities, Unbundling the General Ledger Golding Bank provided the following data about its resources and activities for its checking account process: Resources Activities Clerical Hours Supervision Processing accounts 10,000 $70,000 90,000 Phone and supplies Issuing statements 5,000 Salaries 275,000 Processing transactions 7,000 Computer 25,000 Answering customer inquiries 3,000 Total $460,000 Total 25,000 • Computers are used only by the issuing (30 percent) and processing transaction (70 percent) activities. • Phone and supplies are 60 percent...
Assigning Cost of Resources to Activities, Unbundling the General Ledger Golding Bank provided the following data about its resources and activities for its checking account process: Resources Activities Clerical Hours Supervision $78,000 Processing accounts 10,640 Phone and supplies 100,000 Issuing statements 5,600 Salaries 275,000 Processing transactions 7,560 Computer 24,000 Answering customer inquiries 4,200 Total $477,000 Total 28,000 Computers are used only by the issuing (40 percent) and processing transaction (60 percent) activities. Phone and supplies are 70 percent customer inquiries...
Rock Solid Bank and Trust (RSB&T) offers only checking accounts. Customers can write checks and use a network of automated teller machines. RSB&T earns revenue by investing the money deposited; currently, it averages 5.80 percent annually on its investments of those deposits. To compete with larger banks, RSB&T pays depositors 0.50 percent on all deposits. A recent study classified the bank’s annual operating costs into four activities. Activity Cost Driver Cost Driver Volume Using ATM Number of uses $ 2,400,000...
The Westfield branch of Security Home Bank has submitted the following cost data for last year: Teller wages Assistant branch manager salary Branch manager salary Total $ 159,000 64,000 87,000 $ 310,000 Virtually all other costs of the branch-rent, depreciation, utilities, and so on-are organization-sustaining costs that cannot be meaningfully assigned to individual customer transactions such as depositing checks. In addition to the cost data above, the employees of the Westfield branch have been interviewed concerning how their time was...
Required Information Problem 20-1A Production cost flow and measurement, Journal entries LOP [The following Information applies to the questions displayed below.] Sierra Company manufactures woven blankets and accounts for product costs using pro one of its processing departments. The following Information is available regarding its Ma Raw materials inventory Work in process inventory Finished goods inventory Beginning Ending Inventory Inventory $ 51,eee $ 58,eee 444,500 575,eee 614, eee 542, eee The following additional Information describes the company's production activities for...