Discuss the features of an ideal budgetary process.

Algonquin Products produces two products, X and Y, in a single process. In 2011, the joint costs of this process were $25,000. In addition, 4,000 units of X and 6,000 units of Y were produced. Separable processing costs beyond the split-off point were: X-$10,000; Y-$20,000. X sells for $10.00 per unit; Y sells for $7.50 per unit. ​ What amount of joint costs will be allocated to product X using the net realizable value net realizable value method?

Banzai Corporation produces calculators on an assembly line in a single-step process. Factrory overhead is applied based on direct labor cost. The following data pertains to September 2018:   Current manufacturing costs:        Materials purchased $150,000      Materials issued to production 120,000      Direct labor 40,000      Factory overhead 30,000     Finished goods for period 180,000 Beginning work in process 0     Ending work in process:        Materials 3,000      Direct labor ?      Factory overhead ? ​ Required:   a. Prepare traditional journal entries for the following events in September:       1. Purchase of materials on account   2. Requisition of materials into production   3. Usage of direct labor   4. Application of overhead   5. Completion of finished goods     b. What is the amount of direct labor in ending work in process?

Bienestar, Inc., has done a cost analysis for its production of vests. The following activities and cost drivers have been developed: Activity Cost Formula Maintenance $11,000 + $2 per machine hour Machining $55,000 + $3 per machine hour Inspection $70,000 + $500 per batch Setups $2,000 per batch Purchasing $80,000 + $150 per purchase order ​ Following are the actual costs of producing 75,000 vests: 5,000 machine hours; 10 batches; 20 purchase orders   Maintenance $20,000 Machining 73,000 Inspection 73,000 Setups 18,000 Purchasing 82,000 ​ What is the budget variance for total costs in an activity-based performance report?

Deli Products produces two products, X and Y, in a single process. In 2011, the joint costs of this process were $25,000. In addition, 4,000 units of X and 6,000 units of Y were produced and sold. Separable processing costs beyond the split-off point were: X – $10,000; Y – $20,000. X sells for $10.00 per unit; Y sells for $7.50 per unit. ​ What is the gross profit of product Y assuming the physical units method is used?

Describe the differences between support and producing departments. Give three examples of each.

Aquamarine company incurred $20,000 of common fixed costs and $80,000 of common variable costs. These costs are to be allocated to its two departments: Department A and Department B. Data on capacity provided and capacity used by the two departments follows: ​ Capacity Provided Capacity Used Department in Hours in Hours A 600 550 B 400 450 Common fixed costs are allocated to Departments A and B on the basis of capacity provided, and common variable costs are allocated to Departments A and B on the basis of capacity used. The fixed and variable costs allocated to Department A are:

Allocation is not necessary when using JIT manufacturing.

A possible causal factor to use when allocating cafeteria costs would be

Discus Productions needs to know its anticipated cash inflows for the next quarter by month. Cash sales are 10 percent of total sales each month. Historically, sales on account have been collected as follows: 60 percent in the month of sale, 30 percent in the month after the sale, and the remaining 10 percent two months after the sale. Sales for the quarter are projected as follows: April, $120,000; May, $100,000; and June, $80,000. Accounts receivable on March 31 were $60,000. ​ Discus Productions would expect to have an accounts receivable balance on June 30 of