Question is attached in screenshot below alogn with the instructiosnthank you for the helpappreicatediorwjgorijwohiwjhwrhiowlo 11. Compute the cost allocation rate for each activity.(Always use cell references and formulas where appropriate to receive full credit.If you copy/paste from the Instructions tab or if you type the numbers in, you will2 be marked wrong.)NM7 Materials handlingMachine setup9 Insertion of parts10 Finishing111213141516171819202122Fuller CompanyComputation of Cost Allocation RatesMaterials handlingMachine setupInsertion of partsFinishingTotal252627282930 Materials handling31 Machine setup323334 Total35ActivityJob 420Manufacturing overhead allocationActivityFinishingActivity CostAllocation Rate2. Compute the manufacturing overhead cost that should be assigned to Job 420.(Always use cell references and formulas where appropriate to receive full credit.IIf you copy/paste from the Instructions tab or if you type the numbers in, you willbe marked wrong.)Insertion of partsper partper setupper partper hourMOH assigned2324 3. Compute the manufacturing overhead cost that should be assigned to Job 510.(Always use cell references and formulas where appropriate to receive full credit.If you copy/paste from the Instructions tab or if you type the numbers in, you willbe marked wrong.)Job 510Manufacturing overhead allocationActivityDEMOH assignedF G HIJK 3457910111213141516BC2526Fuller Company uses ABC to account for its chrome wheel manufacturingprocess. Company managers have identified four manufacturing activitiesthat incur manufacturing overhead costs: materials handling, machinesetup, insertion of parts, and finishing. The budgeted activity costs for theupcoming year and their allocation bases are as follows:2710ActivityMaterials handlingMachine setupInsertion of partsFinishingTotalFuller Company expects to produce 1,000 chrome wheels during the year.The wheels are expected to use:Job 420Job 51024 RequirementsTotal BudgetedManufacturingOverhead Cost3,000Parts Setup FinishinSg HoursConsum2,0001718192021 Use the blue shaded areas on the ENTERANSWERS tab for inputs.Allocation Base$12,000 Number of parts3,400 Number of setups48,000 Number of parts80,000 Finishing direct labor$143.40010200425SetupPartsSUsed Requir ConsumFinishing Hours24Always use cell references and formulas where appropriateto receive full credit. If you copy/paste from the Instructions22 tab or if you type the numbers in, you will be marked wrong.23130350H1 Compute the cost allocation rate for each activity.2 Compute the manufacturing overhead cost that should be assigned to Job 420.3 Compute the manufacturing overhead cost that should be assigned to Job 510.IJKL

Activity based costing is more effective abd accurate method of cost estimation. Activity based…

3 4 5 7 9 10 11 12 13 14 15 16 B C 25 26 Fuller Company uses ABC to account for its chrome wheel manufacturing process. Company managers have identified four manufacturing activities that incur manufacturing overhead costs: materials handling, machine setup, insertion of parts, and finishing. The budgeted activity costs for the upcoming year and their allocation bases are as follows: 27 10 Activity Materials handling Machine setup Insertion of parts Finishing Total Fuller Company expects to produce 1,000 chrome wheels during the year. The wheels are expected to use: Job 420 Job 510 24 Requirements Total Budgeted Manufacturing Overhead Cost 3,000 Parts Setup Finishin S g Hours Consum 2,000 17 18 19 20 21 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Allocation Base $12,000 Number of parts 3,400 Number of setups 48,000 Number of parts 80,000 Finishing direct labor $143.400 10 200 425 Setup Parts S Used Requir Consum Finishin g Hours 2 4 Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions 22 tab or if you type the numbers in, you will be marked wrong. 23 130 350 H 1 Compute the cost allocation rate for each activity. 2 Compute the manufacturing overhead cost that should be assigned to Job 420. 3 Compute the manufacturing overhead cost that should be assigned to Job 510. I J K L

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q