13 15 Foundational (Algo) [LO4-1, LO4-2, LO4-3, LO4-4] Greenwood Company manufactures two products-13,000 units of Product Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Activity Cost Pool Machining Machine setups Production design. General factory Activity Measure Machining Number of setups Number of products Direct labor-hours. Foundational 4-15 (Algo) Activity Measure Machine-hours Number of setups Number of products Direct labor-hours. General factory cost Product Y 7,900 40 1 7,900 Product Y % Estimated Overhead Cost $ 238,800 $ 93,100 $ 83,000 $ 373,500 Product Z 4,100 150 1 7,100 Product Z 15. Using the ABC system, what percentage of the General Factory cost is assigned to Product Y and Product Z? (Round your intermediate calculations and final answers to 2 decimal places.) Expected Activity 12,000 MHS % 190 setups 2 products 15,000 DLHS

13 15 Foundational (Algo) [LO4-1, LO4-2, LO4-3, LO4-4] Greenwood Company manufactures two products-13,000 units of Product Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Activity Cost Pool Machining Machine setups Production design. General factory Activity Measure Machining Number of setups Number of products Direct labor-hours. Foundational 4-15 (Algo) Activity Measure Machine-hours Number of setups Number of products Direct labor-hours. General factory cost Product Y 7,900 40 1 7,900 Product Y % Estimated Overhead Cost $ 238,800 $ 93,100 $ 83,000 $ 373,500 Product Z 4,100 150 1 7,100 Product Z 15. Using the ABC system, what percentage of the General Factory cost is assigned to Product Y and Product Z? (Round your intermediate calculations and final answers to 2 decimal places.) Expected Activity 12,000 MHS % 190 setups 2 products 15,000 DLHS

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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Last question 4) The company uses normal costing with two direct-cost categories: Direct materials Direct manufacturing labor Furthermore, the company uses two manufacturing overhead cost pools: Machining department with machine- hours as the allocation base Assembly department with direct manufacturing labor costs as the allocation base. The budget for the plant in 2020 is as follows: Production plant Machine department Assembly department Manufacturing overhead costs 13 597 500 12 271 500 Direct manufacturing labor costs 1 455 000 6 075 000 Direct manufacturing labor-hours 54 000 22 500 Machine-hours 277 500 55 500 What is the budgeted manufacturing overhead rate in the machining and the assembly department? Overhead is the direct cost involved in the production process of the business of the company Calculation of budgeted manufacturing overhead rate in machine department: Budgeted manufacturing…
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9.) If 12,500 units are sold, what is the total fixed manufacturing overhead costs to support this production level? 10.) If 12,500 units are sold, what is the fixed manufacturing overhead cost per unit sold? 11.) If 8,000 units are sold, what is the total manufacturing overhead costs to support this production level? What is the manufacturing overhead cost per unit?
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