St. james, inc., currently uses traditional costing procedures, applying $800,000 of overhead to products beta and zeta on the basis of direct labor hours. the company is considering a shift to activity-based costing and the creation of individual cost pools that will use direct labor hours (dlh), production setups (su), and number of parts components (pc) as cost drivers. data on the costs pools and respective driver volumes follow: pool no. 1 pool no. 2 pool no. 3product (driver: dlh) (driver: su) (driver: pc)beta 1,200 45 2,250zeta 2,800 55 750pool cost $160,000 $280,000 $360,0001. the overhead cost allocated to beta by using traditional costing procedures would be: a. $240,000 b. $356,000 c. $444,000 d. $560,000 2. the overhead cost allocated to zeta by using traditional costing procedures would be: a. $240,000 b. $356,000 c. $444,000 d. $560,0003. the overhead cost allocated to beta by using activity-based costing procedures would be: a. $240,000 b. $356,000 c. $444,000 d. $560,0004. the overhead cost allocated to zeta by using activity-based costing procedures would be: a. $240,000 b. $356,000 c. $444,000 d. $560,000

Price and efficiency variances, journal entries. the schuyler corporation manufactures lamps. it has set up the following standards per finished unit for direct materials and direct manufacturing labor: direct materials: 10 lb. at $4.50 per lb. $45.00 direct manufacturing labor: 0.5 hour at $30 per hour 15.00 the number of finished units budgeted for january 2017 was 10,000; 9,850 units were actually produced. actual results in january 2017 were as follows: direct materials: 98,055 lb. used direct manufacturing labor: 4,900 hours $154,350 assume that there was no beginning inventory of either direct materials or finished units. during the month, materials purchased amounted to 100,000 lb., at a total cost of $465,000. input price variances are isolated upon purchase. input-efficiency variances are isolated at the time of usage. 1. compute the january 2017 price and efficiency variances of direct materials and direct manufacturing labor. 2. prepare journal entries to record the variances in requirement 1. 3. comment on the january 2017 price and efficiency variances of schuyler corporation. 4. why might schuyler calculate direct materials price variances and direct materials efficiency variances with reference to different points in time

Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.

Wallace company provides the following data for next year: month budgeted sales january $120,000 february 108,000 march 140,000 april 147,000 the gross profit rate is 35% of sales. inventory at the end of december is $29,600 and target ending inventory levels are 10% of next month's sales, stated at cost. what is the amount of purchases budgeted for january?