ACC 650 Week 1 Assignment Help | Grand Canyon University(2020)
- Grand Canyon University / ACC 650
- 07 Aug 2020
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ACC 650 Week 1 Assignment Help | Grand Canyon University(2020)
Job-Order Costing
Complete Problems 2-37
and 3-47 in the textbook.
Complete Problem 2-37
in a Word document and Problem 3-47 in Excel. Please note, you must show your
work in Excel, which includes providing the formulas in the cells, not just the
summary value. You may not earn full points if you do not show your work in
detail.
Problem 2–37
Question 1
Evaluate the costs just
cited and determine whether the associated dollar amounts would be found on the
firm’s balance sheet, income statement, or schedule of
cost-of-goods-manufactured. (Note: In some cases, more than one answer will
apply.)
Question 2
What major asset will
normally be insignificant for service enterprises and relatively substantial for
retailers, wholesalers, and manufacturers? Briefly discuss
Question 3
Briefly explain the
major differences between income statements of service enterprises versus those
of retailers, wholesalers, and manufacturers.
Problem 3-47
1 Determine JLR’s total traceable costs
for the upcoming year and the firm’s total anticipated overhead.
Traceable costs are those costs which can be directly
traced to particular product produced or service rendered. 1. Calculate the
traceable costs:
2 Calculate the predetermined overhead
rate. The rate is based on total costs traceable to client jobs.
Predetermined overhead rate = (Anticipated overheads /
Total anticipated costs traceable to client jobs)
3 What percentage of cost will JLR add to
each job to achieve its profit target?
4 Determine the total cost of the Martin
Manufacturing project. How much would Martin be billed for services performed?
5 Notice that only 50 percent of JLR’s
other operating cost is directly traceable to specific client projects. Cite
several costs that would be included in this category and difficult to trace to
clients.
6 Notice that 80 percent of the
professional staff cost is directly traceable to specific client projects. Cite
several reasons that would explain why this figure isn’t 100 percent.
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