Please do not give solution in image format thanku 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 CountyChrome is $212,100.The three products consume both machine hours and direct labor hours in the two production departments as follows:Stamping DepartmentAutomobile bumpersValve coversWheelsPlating DepartmentAutomobile bumpersValve coversWheelsTotalDirect Labor Hours5603013391,2001701851735281,728Machine Hours7985575991,9541,1687087622,6384,592 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 twodecimal places.Direct labor overhead rate: $Machine hour overhead rate: $Product Factory Overhead Costs2. 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 tothe Amount Descriptions list provided for the exact wording of the answer choices for t entries. Round your answers to the nearest dollar amount.12per direct labor hourper machine hour3AutomobileBumpersValve CoversWheels

Overhead is the amount of money incurred by the entity on the production of the goods. This cost is…

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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