Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 23 Jan 2018 My Price 10.00

Event Manager of Vision Music

John Ting, Event Manager of Vision Music, schedules concerts for local bands and creates CDs and T-shirts to sell at each concert. Vision Music uses a normal-costing system with two direct-cost pools, labour and materials, and one indirect-cost pool, general overhead. General overhead is allocated to each concert based on 120% of the direct labour cost. The actual overhead equalled the allocated overhead as of March 20x7. The actual overhead in April was $19,800. All costs incurred during the planning stage for a concert and during the concert are gathered in a balance sheet account called ‘Concert in Progress (CIP)’.

When a concert is completed, the costs are transferred to an income statement account called ‘Cost of Completed Concerts (CCC)’. The following is cost information for April 20x7

John Ting, Event Manager of Vision Music, schedules concerts for local bands and creates CDs and T-shirts to sell at each concert. Vision Music uses a normal-costing system with two direct-cost pools, labour and materials, and one indirect-cost pool, general overhead. General overhead is allocated to each concert based on 120% of the direct labour cost. The actual overhead equalled the allocated overhead as of March 20x7. The actual overhead in April was $19,800. All costs incurred during the planning stage for a concert and during the concert are gathered in a balance sheet account called ‘Concert in Progress (CIP)’.

When a concert is completed, the costs are transferred to an income statement account called ‘Cost of Completed Concerts (CCC)’. The following is cost information for April 20x7

John Ting, Event Manager of Vision Music, schedules concerts for local bands and creates CDs and T-shirts to sell at each concert. Vision Music uses a normal-costing system with two direct-cost pools, labour and materials, and one indirect-cost pool, general overhead. General overhead is allocated to each concert based on 120% of the direct labour cost. The actual overhead equalled the allocated overhead as of March 20x7. The actual overhead in April was $19,800. All costs incurred during the planning stage for a concert and during the concert are gathered in a balance sheet account called ‘Concert in Progress (CIP)’.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 23 Jan 2018 06:01 PM My Price 10.00

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