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1.Orange 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 Orange County Chrome is $212,100. 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 Automobile bumpers Valve covers Wheels Total Direct Labor Hours 560 301 339 1,200 170 185 173 528 1,728 Machine Hours 798 557 599 1,954 1,168 708 762 2,638 4,592

1.Orange 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 Orange County Chrome is $212,100. 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 Automobile bumpers Valve covers Wheels Total Direct Labor Hours 560 301 339 1,200 170 185 173 528 1,728 Machine Hours 798 557 599 1,954 1,168 708 762 2,638 4,592

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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1.Orange 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 Orange County Chrome is $212,100. 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 Automobile bumpers Valve covers Wheels Total Direct Labor Hours 560 301 339 1,200 170 185 173 528 1,728 Machine Hours 798 557 599 1,954 1,168 708 762 2,638 4,592
Transcribed Image Text:1.Orange 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 Orange County Chrome is $212,100. 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 Automobile bumpers Valve covers Wheels Total Direct Labor Hours 560 301 339 1,200 170 185 173 528 1,728 Machine Hours 798 557 599 1,954 1,168 708 762 2,638 4,592
1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours. Round your answers to two decimal places. Direct labor overhead rate: $ Machine hour overhead rate: $ Product Factory Overhead Costs 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. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for t entries. Round your answers to the nearest dollar amount. 1 2 per direct labor hour per machine hour 3 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. Round your answers to two decimal places. Direct labor overhead rate: $ Machine hour overhead rate: $ Product Factory Overhead Costs 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. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for t entries. Round your answers to the nearest dollar amount. 1 2 per direct labor hour per machine hour 3 Automobile Bumpers Valve Covers Wheels
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