Arctica Manufactures snowmobiles and ATVs. These products are made in different department, and each department has it's
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Arctica Manufactures snowmobiles and ATVs. These products are made in different department, and each department has it's own manager. Each responsibility performance report includes only the costs that they department manager can control: direct material, direct labor, supplies used, and utilities.
Budget | Actual | |||
For Year Ended December 31 | Snowmobile | ATV | Snowmobile | ATV |
Direct Material | $ 21,190 | $ 29,200 | 21,120 | $30, 690 |
Direct Labor | 12,100 | 22,200 | 12,530 | 23,110 |
Department manager salaries | 6,000 | 6,900 | 6,100 | 6,100 |
Supplies used | 5,170 | 1,070 | 4,870 | 1,130 |
Utilities | 530 | 710 | 500 | 670 |
Rent | 7,400 | 8,000 | 7000 | 8,000 |
Totals | $52,390 | $68,080 | $ 52,120 | $ 69,700 |
Prepare responsibility accounting performance report for the snowmobile department.
Responsibility Accounting Performance Report | |||
Manager, ATV Department | |||
For Year Ended December 31 | |||
Controllable Costs | Budgeted | Actual | Over ( Under) Budget |
Total |
2- Identify the financial statement(s) needed to find each number. Select if is: Income statement only, Balance sheet only, Both needed, Neither Combo of the other Ratios. |
Ratio Name | Select the Financial Statement | ||
1 | Return on Assets | Try Again | |
2 | Debt Ratio | Try Again | |
3 | Profit Margin | Try Again | |
4 | Current Ratio | Try Again | |
5 | Acid Test Ratio | Try Again | |
6 | Inventory Turnover | Try Again | |
7 | Days Payable | Try Again | |
8 | Days AR | Try Again | |
9 | AR Turnover | Try Again | |
10 | Times Interest Earned | Try Again | |
11 | Debt to Equity Ratio | Try Again | |
12 | Cash Conversion Cycle | Try Again | |
13 | Operating Margin | Try Again | |
14 | Days in Inventory | Try Again | |
15 | Days Cash on Hand | Try Again |
Related Book For
Fundamental Accounting Principles
ISBN: 978-1259536359
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappett
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