1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) mac hours. Direct labor hour overhead rates Machine hour overhead rate s per direct labor hour per machine hour 2. Determine the product factory overhead costs, using (a) the direct labor hour plantwide factory overhead rate and (b) the machine h plantwide factory overhead rate. Direct labor hours Machine hours Automobile Bumpers Valve Covers Wheels

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine
hours.
Direct labor hour overhead rate
Machine hour overhead rate s
2. Determine the product factory overhead costs, using (a) the direct labor hour plantwide factory overhead rate and (b) the machine hour
plantwide factory overhead rate.
Direct labor hours
per direct labor hour
per machine hour
Machine hours
Automobile Bumpers
Valve Covers
Wheels
Transcribed Image Text:1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours. Direct labor hour overhead rate Machine hour overhead rate s 2. Determine the product factory overhead costs, using (a) the direct labor hour plantwide factory overhead rate and (b) the machine hour plantwide factory overhead rate. Direct labor hours per direct labor hour per machine hour Machine hours Automobile Bumpers Valve Covers Wheels
Single plantwide factory overhead rate
Gwinnett County Chrome Company manufactures three chrome-plated products-automobile bumpers, valve covers, and wheels. These
products are manufactured in two production departments (Stamping and Plating). The factory overhead for Gwinnett County Chrome is
$239,200.
The three products consume both machine hours and direct labor hours in the two production departments as follows:
Stamping Department
Automobile bumpers
Valve covers
Wheels
Plating Department
Plating Department
Valve covers
Wheels
Total
Direct Labor
Hours
590
310
350
1,250
195
200
195
590
1,840
Machine
Hours
810
570
620
2,000
1,150
700
750
2,600
4,600
Transcribed Image Text:Single plantwide factory overhead rate Gwinnett County Chrome Company manufactures three chrome-plated products-automobile bumpers, valve covers, and wheels. These products are manufactured in two production departments (Stamping and Plating). The factory overhead for Gwinnett County Chrome is $239,200. The three products consume both machine hours and direct labor hours in the two production departments as follows: Stamping Department Automobile bumpers Valve covers Wheels Plating Department Plating Department Valve covers Wheels Total Direct Labor Hours 590 310 350 1,250 195 200 195 590 1,840 Machine Hours 810 570 620 2,000 1,150 700 750 2,600 4,600
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