Marsden Company has three departments occupying the following amount of floor space:20,000 square feet10,500 square feet30,000 square feetDepartment 1Department 2Department 3How much store rent should be allocated to Department 3 if total rent is equal to $94,000?Note: Do not round Intermediate calculations.Multiple Choice$30,000$46.612$16,314None of the answers are correct.

The cost allocation rate is calculated as total estimated costs divided by estimated base activity.…

Answered: Marsden Company has three departments…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Marsden Company has three departments occupying the following amount of floor space: Department 1 16,000 square feet Department 2 10,100 square feet Department 3 26,000 square feet How much store rent should be allocated to Department 3 If total rent is equal to $98,000? Note: Do not round Intermediate calculations. Multiple Choice $26,000 $48,906 $18,998 None of the answers are correct.
Marsden Company has three departments occupying the following amount of floor space: Department 1 Department 2 Department 3 How much store rent should be allocated to Department 3 if total rent is equal to $108,000? (Do not round intermediate calculations.) Multiple Choice $33,000 $52,644 23,000 sq. ft. 11,700 sq. ft. 33,000 sq. ft. $18,665 None of the answers are correct.
Pepper Depanment store aliocates ns service department espenses to s various operating sales) departments The folowing dats is avaitable for ts service departments Expense Dasts for allecation ADunt Rent Square feet of flnor space $47,000 47,000 62, 00 Advertising Amount of dollar sales Adainistrative Number of enployees The following information s aveitable for mu three opeating tuale departments Number of Department Square Feet 5,400 8, 100 13,500 Dollar Seles $ 302,000 $ 453, 00 S 755, 000 enployees 15 Totals 27,000 $3,510,000 What as the total expense allocated to Deparnment B Mutiple Choice $32.000 $42065 O s400 $42500 $40.000
4. Complete the following grid. Submit your answers in a grid/table. Original Retail $20.00 $22.50 $3,999.00 $0.49 Markdown Percent 25% 35% 20% 50% Marked Down Retail $17.55 $16.88 $0.44 $9.99 Units Marked Down 645 249 98 5 1,649 20 Total Markdown Dollars Round percentages to one decimal place; round dollars to two decimal places. Markdown percent is a percentage of retail.
If a company has four lots of products for sale, purchase 1 (earliest) for $17, purchase 2 (middle) for$15, purchase 3 (middle) for $12, and purchase 4 (latest) for $14, which cost would be assumed to be sold firstusing LIFO costing?A. $17B. $15C. $12D. $14
Type the formulas to calculate the following: In cell B9, calculate the grand total amount owing for all customers. In ce E KBC DFGHJ1 Cost Retail 2 Mussels R12,40 R21, 70 3 Crabs R25, 60 R44,804 Markup % 75,0% 5 Discount % 8,5% EFT 6 VAT % 15 89 Total Sales 10 Cost of Sales 11 Profit or Loss No of 12 Customers No of Crab 13 Customers Sales of Mussel 14 Customers 15 Can
Riverbed's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. 2 W S X Restorers' wages and fringe benefits Purchasing agent's salary and fringe benefits Administrative salaries and fringe benefits Other overhead costs Total budgeted costs (a) Your Answer Correct Answer # 3 E The company anticipated that the restorers would work a total of 12,720 hours this year. Expected parts and materials were $1,335,600. D In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labor rate was $70.00 and that the material loading charge was 83.00%. Your answer is correct. C 80 $ 4 R F V % 5 T G A Time Charges $292,560 6 63,600 25,440 $381,600 B Y H & 7 ← Material Loading Charges $71,550 U N 21,942 66,780 $160,272 * 00 8 J M ▶ 9 K O L P
7. The Delivery costs are OMR 55,000 for Silver Keys Company, they have 500 purchase orders and made 800 deliveries in total. How much will the cost be per delivery for them? a. OMR 78.8 b. OMR 68.75 c. OMR 110 d. Insufficient data
tion If the merchandise costs $6,000, insurance in transit costs $500, tariff costs $50, processing by the purchasing department costs $35, and the receiving dock personnel costs $15, what is the total cost of the merchandise? -ous page O a. $6,000 O b. $6,550 O c. $6,600 O d. $6.500 -Arrianmont) Groun Arrianmont on lob Type here to search S X E 3 E $ D € O EI % R JU F JU OL V 5 C ^ 6 0 B Y H & 7 U N 3 8 O H 1 M ( Q K O 0 Time left 0 A P Next page 28°C M T
Using the following information, determine the activity rate for the purchasing activity. Activity Estimated Activity Cost Estimated Activity-Base Usage Setup $80,000 1,000 Purchasing 130,000 10,000 Inspecting 50,000 2,000 a.$2.00 b.$8.00 c.$130.00 d.$13.00
M Department Store has 5 departments- M1, M2, M3, M4, and M5. Department M5 is being evaluated using the data below for the store. Dept, M5 P500,000 300,000 P200,000 P200,000 50,000 50,000 Р300,000 P(100,000) All Others Total Sales P4,500,000 2,200,000 P2,300,000 P800,000 450,000 450,000 P1,700,000 Р600,000 P5,000,000 2,500,000 P2,500,000 P1,000,000 500,000 500,000 P2,000,000 P500,000 Cost of Sales Gross Profit Rent and services Direct salaries Advertising allocation Total expenses Net income Rent and services is a corporate committed fixed expense and is allocated evenly to the five departments. Advertising will not change regardless of the decision, and is allocated using sales revenue. M Department Store is evaluating Department M5's future. REQUIRED: 1. Comment on the following statements about Department M5: a. It is earning P100,000 in variable CM for M Department Store. b. It is earning P150,000 in direct CM for M Department Store. c. It is a P100,000 drain on the profitability…
d. P65,000 and Resi-Dew? Resi-Dew PO Rain Dew P24,000 b. P23,200 P24,000 d. P23,200 P1,200 P1,200 а. c. PO Use the following data for Numbers 52-55: JMG Company buys Article X for P.80 per unit. At the end of processing in Department 1 Article X split into Products D, E, and F. Product D is sold at split-off point with no further processing. E and F require further processing before they can be sold. E is processed in Department 2; and F is sed in Department 3. the following is a summary of costs and other data for the fiscal year ended July 31, 2018: Department 1 Department 2 Department 3 Cost of Article X: Direct materials Direct labor Factory overhead P144,000 21,000 15,000 P67,500 31,500 P97,500 73,500 Product D Product E Product F Units sold Units on hand, July 31, 2018 Sales 30,000 15,000 P45,000 JMG uses the estimated net realizable method of allocating joint costs. 45,000 67,500 22,500 P212,625 P144,000

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