1. XYZ LTD. has three production departmenst and two service dapertments. Theestimated figures for a certain period are as follows:Lighting & ElectricityRent, rates and taxesPowerWages of store staffDepreciation of machineryInsurance premiumFurther DetailsAllocation basesWattageFloor area (sq feet)Horse power of machineCapital value of machine (")Capital value of fixed assets (")No. Of employeesValue of materials used (")"120.000100.00010.00020.00030.00020.000200.000Production DepartmenstServiceDepartmentsYZS12.0001.0001.00010.000 10.000 5.0001.0001.20080080.000 60.00040.000X5.00020.0002.000100.000120.000 100.00012012.000STORE 21.0005.00020.00080.000 60.000 40.000668010.000 8.000 6.000You are required to apportion the cost to production-cost centres using the step methods1: NUMBER OF WORKERSS2: Materials used

According to the question given, we need to prepare the overhead distribution summary.Overhead…

1. XYZ LTD. has three production departmenst and two service dapertments. The estimated figures for a certain period are as follows: Lighting & Electricity Rent, rates and taxes Power Wages of store staff Depreciation of machinery Insurance premium Further Details Allocation bases Wattage Floor area (sq feet) Horse power of machine Capital value of machine (") Capital value of fixed assets (") No. Of employees Value of materials used (") 11 20.000 100.000 10.000 20.000 30.000 20.000 200.000 Production Departmenst Service Departments STORE 2 1.000 5.000 X Y Z S1 5.000 2.000 1.000 1.000 20.000 10.000 1.000 1.200 10.000 5.000 800 2.000 100.000 80.000 60.000 40.000 20.000 120.000 100.000 80.000 60.000 40.000 120 80 66 12.000 10.000 8.000 6.000 You are required to apportion the cost to production-cost centres using the step method s1: NUMBER OF WORKERS S2: Materials used

1. XYZ LTD. has three production departmenst and two service dapertments. The estimated figures for a certain period are as follows: Lighting & Electricity Rent, rates and taxes Power Wages of store staff Depreciation of machinery Insurance premium Further Details Allocation bases Wattage Floor area (sq feet) Horse power of machine Capital value of machine (") Capital value of fixed assets (") No. Of employees Value of materials used (") 11 20.000 100.000 10.000 20.000 30.000 20.000 200.000 Production Departmenst Service Departments STORE 2 1.000 5.000 X Y Z S1 5.000 2.000 1.000 1.000 20.000 10.000 1.000 1.200 10.000 5.000 800 2.000 100.000 80.000 60.000 40.000 20.000 120.000 100.000 80.000 60.000 40.000 120 80 66 12.000 10.000 8.000 6.000 You are required to apportion the cost to production-cost centres using the step method s1: NUMBER OF WORKERS S2: Materials used

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 1P: The cost behavior patterns below are lettered A through H. The vertical axes of the graphs represent...

See similar textbooks

Similar questions

c) Having carried out the allocation and apportionment process of its operations, the management accountant of Flowers Ltd is left with the reapportionments to carry out. The data below represent the current state of the overhead distribution summary and the additional detail that is needed to answer the question that follows. Flower Ltd overhead distribution summary Production department T M Amount in Amount in Kes Kes 25,000 20,000 Total b/d Reapportionment percentages A (%) B (%) Required Production department M T 30 20 20 25 F Amount in Kes 30,000 F 25 30 i. The repeated distribution method ii. Algebraic method Service department A Amount in Kes 10,000 Service department A - B Amount in Kes 20,000 25 B 25 a) Reapportion the service department overheads into the production departments on the basis of each of the following:
A product cost is Oa. shown with operating expenses on the income statement Ob. shown with current liabilities on the balance sheet Oc. expensed in the period in which the product is manufactured Od. expensed in the period the product is sold
A product cost is Oa. shown with current liabilities on the balance sheet Ob. shown with operating expenses on the income statement c. expensed in the period in which it is manufactured Od. expensed in the period the product is sold
A product cost is: A.Shown on the income statement with operating expenses B. Expensed in the period the product is sold C. Expensed in the period in which it incurred D. Shown with current liabilities on the balance sheet
2. The following information taken from Jejai Limited: Particulars Debit Credit RM RM Purchase of raw materials Fuel and light Administration salaries Factory wages Carriage outwards Rent and business rates Sales Return inward General office expenses Repairs to plant and machinery Inventory at 1 January 2020: Raw materials Work in process Finished goods Sundry accounts payable Capital Freehold premises Plant and machinery Accounts receivable Accumulated provision for depreciation on plant and machinery Cost in hand 258,000 21,000 17,000 59,000 4,000 21,000 482,000 7,000 9.000 9,000 21,000 14,000 23,000 37,000 457,000 410,000 80,000 20,000 8,000 11,000 984,000 TOTAL 984,000 Propared by: Puan Sini Nor Junita Mohd Radzi Additional information: i. Inventory in hand at 31 December 2020: a. Raw materials b. Work in process c. Finished goods ii. Depreciation of 10% on plant and machinery using the straight-line method ii. 80% of fuel and light and 75% of rent and rates to be charged to…
The following data relates to departments A, B, and C of a company; machine hours: department A- 1000hours, B-1500hours, C-1200hours; floor space: department A- 20sqm, B- 15sqm, C- 25sqm. The total production overhead cost of GH¢1200000 is made up of rent- GH¢800000 and depreciation-GHC400000. The company uses the ABC system to apportion overhead cost. The total overhead cost for department A will be OA. GHC345949.5 B. GH 249549.5 OC. GH¢349549.5 OD. GHC245949.5
The following information taken from Jejai Limited: Particulars DebitRM CreditRMPurchase of raw materials 258,000Fuel and light 21,000Administration salaries 17,000Factory wages 59,000Carriage outwards 4,000Rent and business rates 21,000Sales 482,000Return inward 7,000General office expenses 9,000Repairs to plant and machinery 9,000Inventory at 1 January 2020:Raw materialsWork in processFinished goods 21,00014,00023,000 Sundry accounts payable 37,000Capital 457,000Freehold premises 410,000Plant and machinery 80,000Accounts receivable 20,000Accumulated provision for depreciation on plant andmachinery 8,000 Cost in hand 11,000 TOTAL 984,000 984,000 Prepared by: Puan Siti Nor Junita Mohd Radzi Additional information:i. Inventory in hand at 31 December 2020:a. Raw materials RM25,000b. Work in process RM11,000c. Finished goods RM26,000ii. Depreciation of 10% on plant and machinery using the straight-line methodiii. 80% of fuel and light and 75% of rent and rates to be charged to…
The _____ concept requires a company to report its economic activities on a regular basis for a specific period. a.objectivity b.cost c.matching d.time period
The following data relates to departments A, B, and C of a company; machine hours: department A-1000hours, B- 1500hours, C-1200hours; floor space: department A- 20sqm, B- 15sqm, C- 25sqm. The total production overhead cost of GHC1200000 is made up of rent- GHC800000 and depreciation- GHC400000. The company uses the ABC system to apportion overhead cost. The total overhead cost for department A will be O A. GHC249549.5 OB. GHC245949.5 OC. GHC349549.5 OD. GHC345949.5
The following data relates to departments A, B, and C of a company; machine hours: department A-1000hours, B-1500hours, C-1200hours; floor space: department A- 20sqm, B- 15sqm, C- 25sqm. The total production overhead cost of ghc1200000 is made up of rent- ghc800000 and depreciation- ghc400000. The company uses the ABC system to apportion overhead cost. The total overhead cost for department A will be A. Ghc362162.1622 B. Ghc463063.0631 C. Ghc374774.7748 D. Ghc324144.1441
Umbria, Inc. has compiled the following data: View the data. Compute the amount of direct materials used. I = Direct Materials Used Data Purchases of Direct Materials Freight In Property Taxes Ending Direct Materials Beginning Direct Materials Print Done O $ 6,600 800 1,400 1,600 4,400 X
Period costs include: a. current liabilities on the balance sheet b. operating costs that are shown on the income statement in the period in which they are incurred c. current assets on the balance sheet d. operating costs that are shown on the income statement when the products are sold