Provide Answer Please Activity-based costing 4Bluefield has decided to use an ABC costing system and has identified thefollowing detailed information about its cost pools and cost drivers:Activity cost pools:Materials handlingMachine maintenanceCost drivers:$48,300$16,720Number of material moves 420Number of machine hours 44,000Required:Calculate Bluefield's activity rate for each cost pool.

Explanation of Activity-Based Costing (ABC): Activity-based costing is a method of cost accounting…

Answered: Activity-based costing 4 Bluefield has…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 10EA: Customs has three cost pools and an associated cost driver to allocate the costs to the product. The...

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Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2. Determine the cost to be charged to the product for the year. 3. Determine the cost to be charged to factory overhead for the year. 4. Determine the plotted data points using Chart Wizard. 5. Determine R2. 6. How do these solutions compare to the solutions in P4-2 and P4-3? 7. What does R2 tell you about this cost model?
Caseys Kitchens three cost pools and overhead estimates are as follows: Compare the overhead allocation using: A. The traditional allocation method B. The activity based costing method (Hint: the traditional method uses machine hours as the allocation base.)
Explain the concept of a pool rate in activity-based costing.
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please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Churchill Products is considering updating its cost system to an activity-based costing system and is interested in understanding the effects. The company’s cost accountant has identified three overhead cost pools along with appropriate cost drivers for each pool. Cost Pools Costs Activity Drivers Utilities $ 315,000 63,000 machine-hours Scheduling and setup 300,000 600 setups Material handling 795,000 1,590,000 pounds of material The company manufactures three models of water basins (Oval, Round, and Square). The plans for production for the next year and the budgeted direct costs and activity by product line are as follows. Products Oval Round Square Total direct costs (material and labor) $ 80,000 $ 70,000 $ 80,000 Total…
Computing and using activity-based costing overhead allocation rates Koehler (see Exercise E19-15 and Exercise E19-16) makes handheld calculators in two models—basic and professional—and wants to further refine its costing system by allocating overhead using activity-based costing. The estimated $721,000 of manufacturing overhead has been divided into three primary activities: Materials Handling, Machine Setup, and Insertion of Parts. The following data have been compiled: Requirement 1 Koehler expects to produce 200,000 basic models and 200,000 professional models. Compute the predetermined overhead allocation rates using activity-based costing. How much overhead is allocated to the basic model? To the professional model? Requirement 2 Compare your answers for Exercise E19-15, Exercise E19-16, and Exercise E19-17. What conclusions can you draw? Note: Short Exercise S19-15 and ES19-16 must be completed before attempting Short Exercise 519-17.
Title Brahtz Company uses an activity-based costing system. It has the following manufacturing activity ar Description Brahtz Company uses an activity-based costing system. It has the following manufacturing activity areas, related cost drivers and cost allocation rates:ActivityCost DriverCost Allocation RateMachine setupNumber of setups$25.00Materials handlingNumber of parts0.25MachiningMachine hours13.00AssemblyDirect labor hours22.00InspectionNumber of finished units7.00During the month, 100 units were produced, with no defects, requiring three setups. Each unit consisted of 17 parts, 3 direct labor hours and 2.5 machine hours. Direct materials cost $50 per finished unit.What is the total manufacturing cost for inspections?$-0-$700$90$7
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Activity-Based Costing Hakara Company has been using direct labor costs as the basis forassigning overhead to its many products. Under this allocation system, product A has been assignedoverhead of $10.80 per unit, while product B has been assigned $3.60 per unit. Management feels thatan ABC system will provide a more accurate allocation of the overhead costs and has collected thefollowing cost pool and cost driver information:Cost Pools Activity Costs Cost Drivers Activity Driver ConsumptionMachine setup $360,000 Setup hours 4,000Materials handling 100,000 Pounds of materials 20,000Electric power 40,000 Kilowatt-hours 40,000The following cost information pertains to the production of A and B, just two of Hakara’s manyproducts:A BNumber of units produced 4,000 20,000Direct materials cost $42,000 $54,000Direct labor cost $24,000 $40,000Number of setup hours 400 200Pounds of materials used 1,000 3,000Kilowatt-hours 2,000 4,000Required1. Use activity-based costing to determine a unit cost…
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