Chapter 8 966 15. Uratex Company manufactures a variety of classroom chairs. Its job- costing system uses an activity-based approach. There are two di- rect-cost categories (direct materials and direct labor) and three in- direct cost pools. The cost pools represent three activity areas at the plant. Cost Driver used Cost-allocation Manufacturing Activity Area Budgeted Cost for 2016 as Allocation Base Rate Parts P 0.25 Materials Handling Cutting Assembly P 200,000 2,000,000 2,000,000 Parts 2.50 Direct labor hours 25,000. Two styles of chairs were produced in March, the high school chair, and the college chair. Their quantities, direct material costs, and other data for March 2018 are as follows: Direct Direct Units Materials pəɔnpold Costs Number Manufacturing of Parts Labor hours High school chair College chair 000n000 000 0 0i00 00, 000 0 3,500 The direct labor rate is P20 per hour. Assume no beginning or end- ing inventory. What are the unit cost of the high school chair and the college chair? P240.50 and P571.75 respectively P242.50 and P570.25 respectively 6. C. P252.50 and P571.25 respectively P242.50 and P571.25 respectively

Chapter 8 966 15. Uratex Company manufactures a variety of classroom chairs. Its job- costing system uses an activity-based approach. There are two di- rect-cost categories (direct materials and direct labor) and three in- direct cost pools. The cost pools represent three activity areas at the plant. Cost Driver used Cost-allocation Manufacturing Activity Area Budgeted Cost for 2016 as Allocation Base Rate Parts P 0.25 Materials Handling Cutting Assembly P 200,000 2,000,000 2,000,000 Parts 2.50 Direct labor hours 25,000. Two styles of chairs were produced in March, the high school chair, and the college chair. Their quantities, direct material costs, and other data for March 2018 are as follows: Direct Direct Units Materials pəɔnpold Costs Number Manufacturing of Parts Labor hours High school chair College chair 000n000 000 0 0i00 00, 000 0 3,500 The direct labor rate is P20 per hour. Assume no beginning or end- ing inventory. What are the unit cost of the high school chair and the college chair? P240.50 and P571.75 respectively P242.50 and P570.25 respectively 6. C. P252.50 and P571.25 respectively P242.50 and P571.25 respectively

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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19. Data concerning three of Scarf Corporation's activity cost pools appear below: h Activity Cost Pools Total Cost Assembling Products Designing Products Setting Up Batches $48,200 Total Activity 4,820 assembly hours 8,392 product design hours. $5,400 120 batch setups $864,376 Required: Compute the activity rates for each of the three cost pools. Show your work! gi
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Required information Greenwood Company manufactures two products-15,000 units of Product Y and 7,000 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 Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Estimated Overhead Cost $ 227,700 $ 153,908 Product Y Product Z 8,700 60 1 8,700 2,300 210 1 1,300 Expected Activity 11,000 MHS 270 setups $ 91,000. $ 257,000 2 products 10,000 DLHS 14. Using the ABC system, what percentage of the Product Design cost is assigned to Product Y and Product Z? (Round your answers to 2…
Q. 2 Índigo manufacturing has five activity cost pools and two products ( a budget tape vacuum and a deluxe tape vacuum). Information is presented below:
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Boswell Company manufactures two products, Regular and Supreme. Boswell's overhead costs consist of machining. $2400000; and assembling. $1200000. Information on the two products is: Direct labor hours Machine hours Number of parts Regular Supreme 10000 15000 30000 90000 160000 Ⓒ$2568000 $1440000. $2160000. $1032000. 10000 Overhead applied to Regular using activity-based costing is
1.
COVID 19 Co currently uses traditional costing procedures, applying $800.000 of overhead to products YB and YA on the basis of direct labor hours. The company is considering a shift to activity-based costing and the creation of individual cost pools that will use direct labor hours (DLH), production setups (SU), and number of parts components (PC) as cost drivers. Data on the cost pools and respective driver volumes follow Product Pool No.1 (Driver DLH) Pool No.2 (Driven SU) Pool No 3.(Drivern PO YB 1,200 45 2.250 YA 2,800 55 750 Pool Cost $160,000 $280,000 The overhead cost allocated to YA by using activity-based costing procedures would be Select one Oa None of the answers is correct. b. $444.000 C S156.000 d. $240.000.
Q14. ABC Corp manufactures products X45E and K36N. The company uses a plantwide overhead rate based on DLHS (direct labor-hours). It is considering implementing an activity-based costing (ABC) system that allocates its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products X45E and K36N. Activity Cost Pool Activity Measure Total Cost Total Activity Machining Machine setups $ 120,000 $ 90,000 Number of products $ 84,000 $ 300,000 6,000 MHs 150 setups Machine-hours Number of setups 2 products 10,000 DLHS Product design Order size Direct labor-hours Product Activity Measure X45E 4,000 К36N Machine-hours 2,000 Number of setups Number of products Direct labor-hours 90 60 1 1 7,000 3,000 Determine the percentage of the total overhead cost that is allocated to Product K36N using the plantwide overhead rate?
Problem 18: Predetermined Factory Overhead believes that the company would be better if it will use two factory overhead single factory overhead rate that is based on machine hours. Its manager Davao Corp. uses job order costing system to produce its products. It uses a rates, one based on material costs and the other one is based machine hours. The following data are for year 2020: Materials related Factory overhead Machine related Factory overhead Total Budgeted Factory overhead Costs of materials used on jobs Total Machine hours Data related to three jobs worked on in December follow: Material Costs Direct Labor Costs Machine Hours used Job # 1 168,000 128,000 68,000 Budgeted FOH 3,840,000 10,400,000 14,240,000 Job # 2 656,000 104,000 36,000 Job Order Costing 12,800,000 1,600,000 Job # 3 312,000 144,000 23,200 Actual factory overhead related to materials was P318,400 and actual factory overhead related to machine hours was P846,400. Required: 1. Determine the predetermine factory…
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