Eide Company, a manufacturer of small appliances, had the following activities, allocated costs, and allocation bases
Activities Allocated Costs Allocation Base
Account inquiry (hours) $66,000 2,400 hours
Account billing (lines) $42,000 17,000 lines
Account verification (accounts) $14,000 21,000 accounts
Correspondence (letters) $14,000 1,400 letters
The above activities are carried out at two of its regional offices.
Activities Northeast Office Midwest Office
Account inquiry (hours) 100 hours 250 hours
Account billing (lines) 12,000 lines 9,000 lines
Account verification (accounts) 1,100 accounts 700 accounts
Correspondence (letters) 70 letters 130 letters
What is the cost per account for the account verification activity? (Round your answer to the nearest cent.)
A) $27.50
B) $3.88
C) $10.00
D) $0.67
D .D)
Cost of account verification:
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Juno Company had $500 of office supplies available at the beginning of the current year. During the year Juno Company purchased $2,750 worth of office supplies, which were debited to the office supplies account. On December 31 of this year, $375 worth of office supplies remained. a. Calculate the amount of Juno Company's office supplies expense for the current year. (Show your calculations.)b. Prepare the journal entry to adjust the supplies account.
What will be an ideal response?
An implied contract in fact is one that is formed from the actions of the parties
Indicate whether the statement is true or false
On January 1, Schaf Corporation had $23,000 of raw materials on hand. During the month, the company purchased an additional $54,000 of raw materials. During January, $50,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $6,000. The journal entry to record the purchase of raw materials would include a:
A. credit to Raw Materials of $54,000 B. credit to Raw Materials of $73,000 C. debit to Raw Materials of $54,000 D. debit to Raw Materials of $73,000
Modine Corporation has provided the following data for September.?Denominator level of activity1,600machine-hours?Budgeted fixed manufacturing overhead costs$42,400??Fixed portion of the predetermined overhead rate$26.50per machine-hour?Actual level of activity1,700machine-hours?Standard machine-hours allowed for the actual output2,000machine-hours?Actual fixed manufacturing overhead costs$41,740?Required:a. Compute the budget variance for September. Show your work!b. Compute the volume variance for September. Show your work!
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