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##### Cost Accounting Homework Questions

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Question;1)Jackson Company has two;departments S1 and S2 and two producing department P1 and P2. Estimated direct;costs and percentages of services used by other departments are as follows;Used by department;Support Dept;S1;S2;P1;P2;S1;---;10%;40%;50%;S2;20%;--;50%;30%;Overhead costs;\$4500;8000;10000;15000;Required;a.;Prepare a schedule allocating the support;department costs to the producing departments using the direct allocation;method. What are the total costs in the producing departments after the;allocation to the nearest dollar?;b.;Prepare a schedule allocating the support;department costs to the producing departments using the sequential (step);allocation method. What are the total costs in the producing departments after;the allocation to the nearest dollar?;c.;Prepare a;schedule allocating the support department costs to the producing departments;using the reciprocal allocation method. What are the total costs in the;producing department after the allocation to the nearest dollar?;2);Yamaha Industries for the month ending December 31, 2013;Sale \$;450,000;Cost of goods sold 329,000;Net income 22,000;Beg inventories;Direct Material 70,000;WIP 28,000;Finish goods 90,000;Ending direct materials is 10% smaller than beg direct;materials. Ending WIP is 75% of the beg WIP. Ending finished goods increased by;\$ 15,000 during the year. Prime costs and conversion costs are 60% and 80% of;total manufacturing costs added, respectively.;No income taxes.;Required;a);Prepare a statement of cost of goods;manufactured, and a gross profit income statement for December.;b);Calculate prime costs and conversion costs.

Paper#40898 | Written in 18-Jul-2015

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