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##### is any body can help me Problem 1 Timothy Comp...

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is any body can help me Problem 1 Timothy Company has budgeted sales of \$780,000 with the following budgeted costs: Direct materials \$168,000 Direct manufacturing labor 132,000 Factory overhead Variable 96,000 Fixed 108,000 Selling and administrative expenses Variable 72,000 Fixed 100,000 Compute the average markup percentage for setting prices as a percentage of: a. Total manufacturing costs b. The variable cost of the product c. The full cost of the product d. Variable manufacturing costs ? Problem 2 For each cost pool listed select an appropriate allocation base from the list below. An allocation base may be used only once. Assume a manufacturing company. Allocation bases for which the information system can provide data: 1. Number of employees per department 2. Employee wages and salaries per department 3. Production facility square footage 4. Hours of operation of each production department 5. Machine hours by department 6. Operations costs of each department 7. Hours of computer use per month per department 8. Indirect labor-hours per department a. Vice President of Finance's office expenses b. Computer operations used in conjunction with manufacturing c. Personnel Department d. Manufacturing machinery cost e. Energy costs ? Problem 3 The Omega Corporation manufactures two types of vacuum cleaners: the ZENITH for commercial building use and the House-Helper for residences. Budgeted and actual operating data for the year 20X5 are as follows: Static Budget ZENITH House-Helper Total Number sold 15,000 60,000 75,000 Contribution margin \$3,750,000 \$12,000,000 \$15,750,000 Actual Results ZENITH House-Helper Total Number sold 16,500 38,500 55,000 Contribution margin \$6,200,000 \$10,200,000 \$16,400,000 Required: a. Calculate the contribution margin for the flexible budget. B . Determine the total static-budget variance, the total flexible-budget variance, and the total sales-volume variance in terms of the contribution margin. ? Problem 4 Gotham University offers only high-tech graduate-level programs. Gotham has two principal operating departments, Engineering and Computer Sciences, and two support departments, Facility and Technology Maintenance and Enrollment Services. The base used to allocate facility and technology maintenance is budgeted total maintenance hours. The base used to allocate enrollment services is number of credit hours for a department. The Facility and Technology Maintenance budget is \$350,000, while the Enrollment Services budget is \$950,000. The following chart summarizes budgeted amounts and allocation-base amounts used by each department: Services Provided: (Annually) Budget Engineering Computer Sciences F&T Maintenance Enrollment Service F&T Maintenance (in hours) \$350,000 2,000 5,000 Zero 1,000 Enrollment Service (in credit hrs) \$950,000 24,000 36,000 2,000 Zero Required: Use the direct method to allocate support costs to each of the two principal operating departments, Engineering and Computer Sciences. Prepare a schedule showing the support costs allocated to each department. ? Problem 5 Gotham University offers only high-tech graduate-level programs. Gotham has two principal operating departments, Engineering and Computer Sciences, and two support departments, Facility and Technology Maintenance and Enrollment Services. The base used to allocate facility and technology maintenance is budgeted total maintenance hours. The base used to allocate enrollment services is number of credit hours for a department. The Facility and Technology Maintenance budget is \$350,000, while the Enrollment Services budget is \$950,000. The following chart summarizes budgeted amounts and allocation-base amounts used by each department: Services Provided: (Annually) Budget Engineering Computer Sciences F&T Maintenance Enrollment Service F&T Maintenance (in hours) \$350,000 1,000 2,000 Zero 5,000 Enrollment Service (in credit hrs) \$950,000 24,000 36,000 2,000 Zero Required: Prepare a schedule which allocates service department costs using the step-down method with the sequence of allocation based on the highest-percentage support concept. Compute the total amount of support costs allocated to each of the two principal operating departments, Engineering and Computer Sciences.

Paper#4600 | Written in 18-Jul-2015

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