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Megamart a retailer of consumer goods

07/01/2021 Client: saad24vbs Deadline: 7 Days

Exercise 24-1 Departmental expense allocations LO P2


Woh Che Co. has four departments: materials, personnel, manufacturing, and packaging. In a recent month, the four departments incurred three shared indirect expenses. The amounts of these indirect expenses and the bases used to allocate them follow.





Indirect Expense




Cost


Allocation Base


  Supervision


$


83,600


 Number of employees


  Utilities




61,000


 Square feet occupied


  Insurance




28,000


 Value of assets in use






  Total


$


172,600











Departmental data for the company’s recent reporting period follow.







Department


Employees


Square Feet


Asset Values


  Materials




22






21,000




$


17,750




  Personnel




11






5,250






2,130




  Manufacturing




44






68,250






36,210




  Packaging




33






10,500






14,910
















  Total




110






105,000




$


71,000
















Exercise 24-3 Departmental contribution report LO P3


Below are departmental income statements for a guitar manufacturer. The manufacturer is considering dropping its electric guitar department since it has a net loss. The company classifies advertising, rent, and utilities expenses as indirect.






WHOLESALE GUITARS

Departmental Income Statements

For Year Ended December 31, 2013




Acoustic




Electric




  Sales


$


101,700




$


84,200






  Cost of goods sold




45,475






47,350












  Gross profit




56,225






36,850






  Operating expenses
















     Advertising expense




5,015






4,260






     Depreciation expense-equipment




10,140






8,530






     Salaries expense




19,300






17,900






     Supplies expense




1,990






1,730






     Rent expense




7,095






6,010






     Utilities expense




2,995






2,590












  Total operating expenses




46,535






41,020












  Net income (loss)


$


9,690




$


(4,170


)










Exercise 24-4 Departmental expense allocation spreadsheet LO P2


Marathon Running Shop has two service departments (advertising and administration) and two operating departments (shoes and clothing). During 2013, the departments had the following direct expenses and occupied the following amount of floor space.





  Department


Direct Expenses


Square Feet


  Advertising


$


17,000






1,089




  Administrative




18,300






1,152




  Shoes




101,500






6,336




  Clothing




11,800






4,224







The advertising department developed and distributed 120 advertisements during the year. Of these, 76 promoted shoes and 44 promoted clothing. The store sold $350,000 of merchandise during the year. Of this amount, $223,000 is from the shoes department, and $127,000 is from the clothing department. The utilities expense of $64,000 is an indirect expense to all departments.







Complete the departmental expense allocation spreadsheet for Marathon Running Shop. Assign (1) direct expenses to each of the four departments, (2) the $64,000 of utilities expense to the four departments on the basis of floor space occupied, (3) the advertising department’s expenses to the two operating departments on the basis of the number of ads placed that promoted a department’s products, and (4) the administrative department’s expenses to the two operating departments based on the amount of sales.




Exercise 24-5 Service department expenses allocated to operating departments LO P2


Advertising and purchasing department expenses of Cozy Bookstore are allocated to operating departments on the basis of dollar sales and purchase orders, respectively. Information about the allocation bases for the three operating departments follows.







  Department


Sales


Purchase Orders


  Books


$


180,000




984




  Magazines




108,000




600




  Newspapers




72,000




816










  Total


$


360,000




2,400










Exercise 24-7 Investment center analysis LO A1


You must prepare a return on investment analysis for the regional manager of Fast & Great Burgers. This growing chain is trying to decide which outlet of two alternatives to open. The first location (A) requires a $500,000 investment and is expected to yield annual net income of $65,000. The second location (B) requires a $200,000 investment and is expected to yield annual net income of $42,000.




Compute the return on investment for each Fast & Great Burgers alternative.






Exercise 24-8 Computing return on assets and residual income; investing decision LO A1


Megamart, a retailer of consumer goods, provides the following information on two of its departments (each considered an investment center).






Investment Center




Sales




Net

Income


Average

Invested Assets


  Electronics


$


10,900,000


$


617,500


$


3,250,000




  Sporting goods




8,900,000




912,000




5,700,000






Exercise 24-9 Computing margin and turnover; department efficiency LO A2


Megamart, a retailer of consumer goods, provides the following information on two of its departments (each considered an investment center).






Investment Center




Sales




Net

Income


Average

Invested Assets


  Electronics


$


9,000,000


$


670,000


$


3,750,000




  Sporting goods




9,350,000




970,000




5,500,000








Exercise 24-11A Determining transfer prices LO C2




The Trailer department of Baxter Bicycles makes bike trailers that attach to bicycles and can carry children or cargo. The trailers have a retail price of $91 each. Each trailer incurs $35 of variable manufacturing costs. The Trailer department has capacity for 22,000 trailers per year, and incurs fixed costs of $550,000 per year.




Exercise 24-12B Joint real estate costs assigned LO C3




Heart & Home Properties is developing a subdivision that includes 340 home lots. The 240 lots in the Canyon section are below a ridge and do not have views of the neighboring canyons and hills; the 100 lots in the Hilltop section offer unobstructed views. The expected selling price for each Canyon lot is $57,000 and for each Hilltop lot is $92,000. The developer acquired the land for $2,400,000 and spent another $2,100,000 on street and utilities improvements.

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