Enter the accountancy department costs for option a to the nearest 000 qui

Enter the accountancy department costs for option a to the nearest 000 qui. Requirement 1. 00 minimum cumulative GPA at all colleges and universities attended D) $107. ☆☆☆☆☆. $340, D. 000 $ 12. **Departmental Staff Costs**: There's a general increase in departmental staff costs due to staff replacements, excluding the Accounting Dept. 78%. Express all dollar amounts in thousands. hughes1150@gmail. Criteria Option 1. $284,100 c. 1-Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. Management has decided that the most appropriate inventory costs are achieved by using individualdepartment overhead rates. Enter a "O" for any zero balances. The correct answer is D ($6,000 + $4,000 × 0. e. Not all discrete units within a business organization are focused on production of the end product. Take certain difficult decisions. txt) or read online for free. Telford Engineering imports 50% of its materials from CETA and import costs will be affected by the lower exchange rate post MEXIT. Solving the four simultaneous equations by hand is relatively easy, but as the number of departments grows, it’s convenient to use matrix algebra and a computer to find the solution. If you go back to the illustration you should see exactly how to calculate this. $154,600 d. Maintenance Department costs of $160,000 are allocated on the basis of budgeted maintenance-hours. Calculate the cost per unit for special reports completed. ) Info. saldhaheri. 00 = C$1. That average is between seasons 2 and 3. (Do not round intermediary calculations. 000 1. April 9th 2022 AN ACCA USER 1 Report Recategorized December 6th 2023. For example, in the table above, 59. (3) allocate the complete reciprocated costs of each support department to all other departments based on the usage percentage. Direct costs for each department and the proportion of service costs used by the various departments for the month of August follow: Proportion of Services Used byDepartmentDirect Using the data below for Ace Guitar Company: Region A Region B Sales $500,000 $900,000 Cost of goods sold 200,000 300,000 Selling expenses 150,000 275,000 Service department expenses: Purchasing $90,000 Payroll accounting 30,000 Allocate service department expenses proportionally to the sales of each region, determine the divisional income from operations for the Regions A and B. Then ensure that the average is centred on a ‘season’. Personnel Department costs of $40,000 are allocated based on the number of employees. Calculate and compare the forecast total accounting costs in the year following MEXIT under the outsource option (B); to assess which option will be most economical for Telford Engineering in the future. I am really stuck here for days now. $33, d. Apr 6, 2024 · What Does the Accounting Department Do? The accounting department is responsible for a large number of administrative functions within an organization. $21, 900. Enter all amounts as positive values. A. 84. Note: Round percentages in your calculation to the nearest whole percent (for Rule 1) cannot allocate back to own department. Please I need the impact on profit. In other words, they are responsible for managing the overall economic front of the business. The Department offers a number of academic degree programs: a B. ☆. The Assembly department expects to use 4,000 machine hours, and the Finishing department expects to use 30,000 direct labor hours. Thank you. (LO) If the reciprocal method of allocating service costs is used, what total amount of Housekeeping costs (rounded to the nearest dollar) will ultimately be allocated to the other departments? a. ash. (Do not round intermediary calculations and round your final answers to the nearest whole dollar Use parentheses or a m when decreasing departments by allocating costs. Jul 1, 2009 · Abstract. 3,333. Your answer should be a number, ie: 100 (for 100,000), as they state the $’000 before the space for answer. Enter the total amount of service department costs (Administration and Human Resources) allocated to revenue-generating departments (Adverting and Circulation). Joel Carey Administrator 206-685-4484. How much would cost centre V’s total overhead cost be if the company used the step-down approach to re-apportion service cost centre overhead? A $10,400 B $10,720 C $16,400 D $16,720 . Been struggling to get an answer since a week. 010. This post has been reported and hidden 22 student(s) online now Back to Posts May 10, 2022 · The costs of service departments are allocated to the operating departments because they exist to support the operating departments. 2,500 was considered to be fixed cost. Jan 5, 2020 · This assessment has 6 questions in which you have to assess the impact on profit of each individual strategic option given in the scenario. Examples of service departments are maintenance, administration, cafeterias, laundries, and receiving. Study with Quizlet and memorize flashcards containing terms like You are the accounting manager of Snell Company. d. Broca incurred organization costs of $98,000 for incorporation, state and local licensing fees and permits, training of new employees, feasibility studies, and attorneys' and accountants' fees. The following information is available: Human Resources Janitorial Sales #1 Sales #2 Sales # Budgeted cost P45,000 P30, Space in square feet 4,000 1,000 20,000 30,000 50, Number of employees 5 10 15 Jun 22, 2023 · Step 4. Only round the amount you input in the input field to the nearest dollar. Question: 1-Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. The Maintenance Department costs of $360,000 are allocated on the basis of budgeted maintenance-hours. February 23, 2020 at 5:31 pm #562834. (Round your final answers to the nearest whole dollar. Accurate service department cost Department of Accounting . Telford Engineering exports 40% of its output to CETA. Allocate the costs of the support departments in the order given in this problem. Outsourcing would mean that 40% of the other non-staff accounting department costs could be saved each year. $13, 421. total= 550. Use parentheses or a minus sign when decreasing departments by allocating costs. preparing a presentation. Aug 13, 2023 · This breaks my momentum in completing and progressing through the Unit as a whole, so would be very grateful if someone is ahead of me and knows the answer can steer me in any way. 242. this is the question from epsm unit 8 "Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future Enter the accountancy department costs for Option A (to the This post has been hidden 39 student(s) online now Back to Posts Introduction of the case study. Thus, department P will get 40%/90% × $27,700 and department Q and R will get 25%/90% × $27,700 each. For example, if the IT department provides 100 hours of support to the Marketing department and 200 hours of support to the Sales department, then the Marketing department would be allocated 50% of the IT department’s costs and the Sales department would be Expo manufacturing has two production departments and two support departments. com. February 9th 2024 AN ACCA USER. pdf), Text File (. Data table Requirement 1. 78% of $136,000 (= $81,304) is allocated to assembly, not 55%. If these costs are budgeted at $37,125 during a given period, the amount of cost allocated to Department B under the direct method would be: $18,021. Answers 3rd Amend19-09-27. hey guys im stuck on this question and your help will mean the world to me. 1 - Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. 12. and utilities were $6, 500? $10, 820. accounting department costs 42. Each activity center is separately identified and can be assigned Rent of $64, 000, which is allocated over square feet used by each department Utilities of $28, 000, which is allocated over square feet used by each department Corporate Training of $50, 000, which is allocated over the number of employees working in each department NFH has a total of 10,000 square feet and 250 employees. The total administration cost has changed since we have the original department costs of $4,000 + maintenance cost allocated above of $2,667 making the new administration cost $6,667. The retained skeleton staff, post-outsourcing, will be paid at 20% more than their current salaries. The Personnel Department costs of $110,000 are allocated based on the number of employees. maintenance fees were $13,000. 000 $9. Use the reciprocal method to allocate the service costs. 12) - (0. Board@TN. 11) Extreme Manufacturing Company provides the following ABC costing information: Activities Total Costs drivers Activity-cost $390,000 $275,000 $130,500 $22,000 $817,500 The above activities are used by Departments A and Bas follows: Account inquiry Account billing 13,000 hours 5,000,000 lines Jan 23, 2020 · You should be putting in a $ amount (not nearest $000) for example. (2,000 MH x 1. ) Hanung Corp has two service departments, Maintenance and Personnel. Aug 16, 2023 · Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. Q Question 1: Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured Answered over 90d ago Q Assignment Problem Four - 4 (Tax Payable With Employment Income) For the past five years, Mr. Gov. Further quantitative data on Telford Engineering. If you have questions about these requirements, please contact an accountancy advisor for assistance. $331, C. Oct 8, 2022 · I am halted from progress on Unit 8 - Organisational restructure > Accounting department costs quiz Question 1 of 3 Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. The costs of operating departments A and B are $80,000 and $120,000, respectively. Data Master is a computer software consulting company. Round all answers to the next whole number. Bases for allocation are to be selected from the following: 1. QuestionAnswer1a. Calculate a predetermined overhead rate for each activity. You need to calculate the effect on profitability of implementing each of the options you are asked about and not to calculate the actual updated profit after the option has been implemented. Activities you must carry out such as: working with spreadsheets. Ashley. in Accountancy, a B. If you follow the rules its easy just remember to (-) total allocated to each department. Use the allocation base for each support department you think is Jun 22, 2023 · Manufacturing overhead costs totaling $1,000,000 are expected for this coming year—$400,000 in the Assembly department and $600,000 in the Finishing department. 000 Ready Company has two operating production departments. Feb 21, 2024 · Activity Center: A pool of activity costs associated with particular processes and used in activity-based costing (ABC) systems. Political campaign accounting. The Customer Support Department at Wadsworth Supply is analyzing the costs of its services. Above it has been assumed there are four seasons, so 4-part averages are first calculated : 1,250 = (2,000 + 900 + 1,000 + 1,100)/4. Conduct process walk-throughs. S. Adam Shinn Director of MPAcc and MST 206-616-4964 Listed below are the operating data for the current period: Study with Quizlet and memorize flashcards containing terms like $11,693 (Administration Allocated ti Accounting Department: $66,000 x (58/320), $178,889 ($345,000 x (280/540)) = $178,889, $253, 000 (The total costs of $120,000 and $133,000 ($253,000) will be allocated to the producing Accounting questions and answers. $337, B. (Do not round intermediary calculations and round your final answers to the nearest whole dollar. Answers. Power costs are allocated on the basis of the number of machine hours and general factory costs on the basis of square footage. These can be sold at the same price, bringing the factory back to full capacity. Other costs accumulated in the Payroll Department amounted to P200,000. At December 31, Year 5, Broca had prepaid rent (1 year) and insurance (2 years) balances of $60,000 and $24,000, respectively. Jun 9, 2023 · Department of Accounting University of Washington Michael G. Service department costs are allocated to operating units via an allocation process. i am not asking the answer , its the way to solve it . Apr 9, 2022 · Hello friends, can anyone help me with the answers to cost related to option A and option B in Unit 8 Section 6. Note: Round your final answer to the nearest whole dollar. Since adding staff is usually not an option, here are seven ways to lighten accounting’s workload. Phone: 206-543-4368 Email: [email protected] David Burgstahler Chairman, Department of Accounting. $28, Based on the information below, what is the total amount of administrative cost to the Accounting Department (rounded to the nearest dollar) if administrative costs for the school were $60,000. Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. i have been working on these options for almost 15 days but cant get the right answer , can you please share the way you solve it please . Nov 26, 2021 · P/L Menai $,000 Menai $,000 Actual P/L (one year after MEXIT (before MEXIT) under outsource option) Sales 8,000 7,200 * Note: Exports to CETA based customers pre-MEXIT = 40% and the volume of these fell by 30% post- MEXIT Costs Production costs Materials ** -2,000 -2,160 ** Note: 50% of imports Pre-MEXIT are from CETA based suppliers Staff Increase in import cost = Post-Exit Import Cost - Pre-Exit Import Cost Increase in import cost = (0. Operating cost ($486m x 40 years) $19,440m Decommissioning cost $12,000m –––––––––– Total life-cycle costs $31,440m –––––––––– Total gigawatts (9,000 x 40 Knowing the complete reciprocated costs of a support department is a key input for decisions about whether to outsource all the services that the support department provides. U need to report the effect on net profit therefore its the difference between the post mexit profit and the new profit for each strategy separately. You really should be able to calculate it in the spreadsheet provided. Jul 20, 2023 · Hi, is anyone else having trouble with unit 8 videos and spreadsheets not downloading today - specifically the calculating the accounting department costs? During the month of May costs for generating power amounted to Rs. 9,300; of this Rs. Explore different types of accounting jobs and salaries below. The Human Resources Department cost is allocated on the basis of employees, and the Janitorial Department cost is allocated on the basis of space. Comparison of Methods of Allocation. 3333) (2,500 MH x 1. 50 * C$1. 57 per hour. Note: Round percentages in your calculation to the nearest whole percent (for example, round 34. Allocate the support departments' costs (human resources and information systems) to the two operating departments using the reciprocal method. A) $22,000 B) $49,500 C) $11,000 D) $11. ) Nov 6, 2012 · To transfer all the costs of service department X, we apportion department X costs of $27,700 after reallocation of department Y's cost among the three production departments in the ratio existing between their percentages from department X. $27, 287. Currently working at Nauti Foods. The higher sales margin would mean that the total cost of materials for this product will only be 25% of sales. 6 + 0. These rates are developed after support-department costs are allocated to operating departments. The cost analyst also has identified the Customer Study with Quizlet and memorize flashcards containing terms like Caro Manufacturing has two production departments, Machining and Assembly, and two service departments, Maintenance and Cafeteria. Janitorial services, cafeterias, health clinics, and the like support productive units. This paper describes issues affecting the managing of service department costs and their accurate allocation to the principal departments of companies. 4 provides the overhead rate calculations for SailRite Company based on the information shown in the previous three steps. , is divided into two operating divisions: Pottery and Retail. Login to answer. Its three major functional areas are computer programming, information systems consulting, and software training. Support Departments Producing Departments Human Resources General Factory Fabricating Assembly Direct costs $185,000 $310,000 $114,200 $91,000 Normal activity: Number of employees — 50 80 150 Square footage 1,100 — 5,400 13,700 Resources Department are Nov 2, 2023 · 615-741-2550 | Accountancy. #EPSM. The Tennessee State Board of Accountancy protects the public interest by ensuring that persons professing special competence in accountancy or those offering assurance regarding financial statement presentation have demonstrated their qualifications to do so. Applied Skills, PM Performance Management (PM) March/June 2019 Sample Answers Section B Volt Co 16 C. Variable costs . Though considered "back office" activities, these functions are essential to the proper operation of a business. Based on your Actual manufacturing overhead before allocation of service department costs, together with the usage of service from the service departments, is as follows: Required: 1 the total manufacturing overhead (including service departments costs) for each producing department, allocating service costs to producing departments only. Allocate the support departments' costs to the operating departments using the direct method. Identifying Cost Drivers. I have been facing the same issue. Unit 8 is the FINAL ASSESSMENT which ACCA does not even share with tutors. The total payroll in each department was: A, P300,000; B, P275,000; C, P325,000; and Payroll, P50,000. Pre-Exit Exchange rate: M$1. The number f employees for each department is as follows: Human Resources shows a budget of $21, 000 and accounting, $98, 000, for the coming year. Service departments aid multiple production departments at the same time, and accountants must allocate and Apr 8, 2021 · Replies: 2. report writing. The materials cost of these additional sales, as a percentage of sales to the nearest whole percentage, will be the same as it is currently (See P/L account one year after MEXIT under the outsource option in the spreadsheet). Sales price per unit ($)1b. xls / . Duweynie Pottery, Inc. Rule 2) if already allocated out the cost of a service department you are not allocating any future cost to that department. $340, Stoffle Corporation uses the direct method to allocate service department costs to operating departments. 470. Figure 3. Want to take on a more challenging role at Telford Engineering. a-1. 200. , which is increased separately. Please REFLECT on the ethical implications of your action – and how it might implicate me as the moderator and OpenTuition as the vehicle for disseminating this information. Based on the information below, what is the total amount allocated to the Welding Department (rounded to the nearest dollar) if administrative costs for the school were $50, 000, maintenance fees were $12, 000, and utilities were $6, 000? Multiple Choice $50 Assembly: 55% ÷ 92% = 59. It is impossible for any business STEPS: (1) express support department costs and reciprocal relationships in the form of linear equations. 14 per hour. $129,500 43. support department costs are allocated on the basis of the number of employees. The amount of Payroll Department costs chargeable to Department C is: 50, Departmental overhead rates are usually preferred to plant-wide overhead rates when A. The total Wholesaling Department cost after the allocations of service department costs is closest to: A. What is the total conversion cost? a. Nov 29, 2023 · Fund accounting. 050. Question: Question 02/03 Calculate and compare the forecast total accounting costs in the year following MEXIT under the outsource option (B); to assess which option will be most economical for Telford Engineering in the future. Enter the appropriate amounts in the associated cells based on the information in the exhibits. 2 the total When the marketing department requested the cost of SR670 in order to determine pricing for the new catalog, Mary was told to report one amount, but when a request came in the very nextday from the financial reporting department for the cost of SR670, she was told to report a very different cost Mary runs a report using Needham's cost Question: Requirement 1a. In the manufacture of 8,000 units of a product, direct materials cost incurred was $154,600, direct labor cost incurred was $84,000, and applied factory overhead was $45,500. Enter a "0" for any zero balances. The GBS Company will take over the highly systemised and transactional operations. 3333) Next, we would allocate the administration department. This would cost $240,000 in additional development costs to convert and create spare capacity, but will open a completely new higher value market for Telford Engineering, increasing the current sales value by 20%. Requirement 2. Meet with process owners and gain an understanding of how their work gets done to uncover Jake’s Battery Company has two service departments, Maintenance and Personnel. 15. The total cost of making the staff redundant under the outsource option is estimated to be 25% of their current annual salaries. If you have calculated an amount >$100,000 perhaps you have overlooked the intercept (a negative amount). Expo manufacturing has two production departments and two support departments. Cynthia Moore, a pricing analyst in the Accounting Department, has been asked to develop total costs for the functional areas. all i can say is to start with questions 3 to 6 first. 5) The accounting firm firm of Smith & Jones LLC has a staff of 34 staff accountants and auditors and administrative staff. A cost analyst has collected monthly data on the three main functions of the department and the total costs for the last year, which follow. 000 Total budgeted overhead of In today’s world, accounting departments run lean. Put into production: Oct 31, 2023 · The purpose of allocating service department costs to production departments is to assign a fair share of the overhead costs incurred by the service departments to the products or services that Enter the total amount of service department costs (Administration and Human Resources) allocated to revenue-generating departments (Adverting and Circulation). Post-Exit Exchange rate: M$1. The following data for the month of September were taken from the cost records of Department 1 of Pro-Life products, which uses a process costing system: Opening inventory of work in process: Units - 500 (with all materials added and 50% of labor and overhead) Cost - Materials $2,400, Labor $1,500, Factory overhead $760. as you are on this question , thats mean you successfully passed accountancy costs quiz in unit 8 . 23-- Concepts in Allocating Service Department Costs. 40. Asked to do more with less, accountants are being pushed to the max. The number of employees for each department is as follows: Human Resources shows a budget of $21, 000 and accounting. Develop overhead rates per direct manufacturing labor-hour for machining and assembly. Brooks has been employed Telford Engineering is considering two options for its accounting department following expected resignations: 1) Retaining staff in-house at increased salaries or 2) Outsourcing most functions to an offshore partner. 000 Allocation of Ascots (390. Allocate the two support departments' costs to the two operating departments using the direct method. Service Department ‘X’ renders service to A, B and Y in the ratio 13:6:1, while Service Department ‘Y’ renders service to A and B in the ratio 31:3. 000 136500 Allocation of costs 2100,000 840. Q Question 1: Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured Answered over 90d ago Q It started with a letter (The case is also shown as a download file) Staten, November 5, 2012 To: Henk Jacobs, director Dec 20, 2023 · Hi Rutkay Capar. 14 or -14% 3. 00%. $42, b. $35, c. Lead and manage your department. xlsx), PDF File (. Social accounting. As the accounting field continues to evolve, new types of accounting are likely to emerge to meet the ever-changing business and organization’s needs. 333) (1,500 MH x 1. 8 × ($10,000 + 0. Option 1 would leave the department with a head of accounting, 2 FQ accountants, 3 PQ accountants, and 4 technicians at 10% higher pay plus 25% extra in costs. Telford Engineering has identified a global business services partner off-shore. Foster School of Business 547 Paccar Hall Box 353226 Seattle, WA 98195-3226. The most common responsibilities of the accounting department are as follows: Systems costs 180,000 (250,000) 45,000 $ OS $ 1,218,000 $ 562,000 S 1,780,000 Total budgeted costs of operating departments S This time, use repeated iterations. Using the step-down method, allocate support-department costs. . Earn a 3. 000 $22. $238,600 b. Accounting questions and answers. Total direct labor cost = $45,000 × 24 = $1,080,000Total hours = 420 × 90 = 37,800 hoursDirect labor cost rate per hour = $1,080,000 / 37,800 = $28. The costs of operating departments A and B are $188,000 and $282,000, respectively. $20, 400. How much of the monthly rental expense should be allocated to a department that occupies 18,000 square feet on the first floor? Multiple Choice 56,000 $24,000 $12,000 O O $15. This is done by dividing the estimated overhead costs (from step 2) by the estimated level of cost driver activity (from step 3). Support department costs are allocated on the basis of the number of employees. A Career in Accounting Producing Department B--250. Total: 100. Using the algebraic method, allocate the support department costs to the revenue-generating departments. The department costs of the Personnel Department are allocated on a basis of the number of employees. Next, use this ranking to allocate the support departments' costs to the operating departments based on the step-down method. (2) solve the set of linear equations to obtain the complete reciprocated costs of each support department. Enter for any zero balances Support Departments Operating Departments Direct Method AS 15 GOVT CORP Total Budgeted overhead costs before interdepartment cost allocations 3 390,000 $ 2100,000 $ 8. STRATEGIC QUESTION - Free download as Excel Spreadsheet (. The characteristic feature of the step-down method is that once the costs of a service department have been allocated, no costs are allocated back to that service department. in Information Systems, a Minor in Information Systems, a Masters in Professional Accountancy (MPAcc), and a Masters in Science in Taxation (MST). The annual cost of outsourcing the accounting function per annum is forecast to be $292,000. Hi, i just completed unit 8. 5% to 35%). The company allocates Power and General Factory department costs to each operating division. Accountancy Customer Service Center. Valron Company has two support departments, Human Resources and General Factory, and two producing departments, Fabricating and Assembly. 40) = -0. $98, 000, for the coming year. In order to meet the Department of Accountancy retention requirements, you must meet criteria option 1 or option 2. How much in otal support costs would be Based on the information below, what is the total amount of administrative cost to the Accounting Department (rounded to the nearest dollar) if administrative costs for the school were $50,000, maintenance fees were $12,000, and utilities were $6,000? May 1, 2017 · S1’s reciprocated cost is 50% of S2 and its own direct cost of $100, and S2’s reciprocated cost is 20% of S1’s cost and its own direct cost of $40. 00/4. Question 1: Calculate and compare the forecast total accounting costs in the year following MEXIT under the restructured in-house option (A); to assess which option will be most economical for Telford Engineering in the future. of payables, receivables, payroll and credit control. 000 250. 0 Votes. 1 × $4,000)) Written by a member of the management accounting examining team The direct method allocates support department costs to operating departments based on the direct usage of services by each department. Jan 2, 2024 · The accounting department refers to the division in a firm that looks after the preparation of financial statements, maintenance of general ledger, payment of bills, preparation of customer bills, payroll, and more. Option 2 would Jan 19, 2020 · Replies: 7765. Nov 29, 2023 · Option A Retaining accountancy staff in-house, Staff members who resign leading up to MEXIT are n The retained accounting staff post-restructure, will be of the remaining accountancy department staff, due Head of accounting (unchanged salary) + 2 Fully Qu Option B Outsourcing Telford Engineering has identified a global business of payables, receivables, payroll and credit contro Outsourcing Mar 29, 2021 · Here's a little more info for those of you working on Unit 8 of the EPSM module - we hope this helps your understanding of the section. To obtain a centred average, average with the next one: 1,144 = (1,250 + 1,038)/2. oz mg jl xu fn kx py my hb sd