Activity Cost Pool Loading and unloading Travel Logistics (a) Activity Cost Pool Loading and unloading Travel Cost Drivers Number of pieces Miles driven Hours Logistics $ Estimated Overhead $95,655 Compute the activity-based overhead rates for each pool. (Round answers to 2 decimal places, e.g. 12.75.) Activity-Based Overhead Rate S 453,750 86,240 Estimated Use of Cost Driver per Activity per piece per mile 91,100 605,000 3,080 per hour

Activity Cost Pool Loading and unloading Travel Logistics (a) Activity Cost Pool Loading and unloading Travel Cost Drivers Number of pieces Miles driven Hours Logistics $ Estimated Overhead $95,655 Compute the activity-based overhead rates for each pool. (Round answers to 2 decimal places, e.g. 12.75.) Activity-Based Overhead Rate S 453,750 86,240 Estimated Use of Cost Driver per Activity per piece per mile 91,100 605,000 3,080 per hour

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Exercise #1 The following information is estimated by Blue Sea Ltd’s accountant for the upcoming financial year: Sales revenue 3,480,000 Machine hours 54,000 Direct labour hours 81,000 Direct labour rate $22.00 Manufacturing overhead 1,326,000 Required: Calculate the predetermined overhead rates assuming that the cost driver is: Direct labour hours Direct labour costs Machine hours
Exercise 7-3 (Algo) Compute Activity Rates [LO7-3] Green Thumb Gardening is a small gardening service using activity-based costing to estimate costs for pricing and other purposes. The owner of the company believes costs are driven primarily by the size of customer lawns, the size of customer garden beds, the distance to travel to customers, and the number of customers. In addition, the costs of maintaining garden beds depend on whether the beds are low-maintenance beds (mainly ordinary trees and shrubs) or high-maintenance beds (mainly flowers and exotic plants). Accordingly, the company uses the five activity cost pools listed below: Activity Cost Pool Caring for lawn Caring for garden beds-low maintenance Caring for garden beds-high maintenance Travel to jobs Customer billing and service Activity Cost Pool Caring for lawn Caring for garden beds-low maintenance Caring for garden beds-high maintenance Travel to jobs Customer billing and service Square feet of lawn Square feet of…
QUESTION 1 THE FOLLOWING INFORMATION IS USED FOR QUESTIONS 1-14. Test Company uses a standard costing system. The company developed the following standard cost sheet for one of its products. Direct materials (6 lbs. @$5 per lb.) (1.5 hours @ $10 per hour) $30 15 Direct labor Variable overhead (1.5 hours @ $4 per hour) Fixed overhead (1.5 hours @ $2 per hour assuming 17,000 hours) During the year, Test Company recorded the following actual results. Units produced 13 Direct materials (71,750 lbs. purchased and used) Direct labor (17,900 hours) Variable overhead Fixed overhead Determine the direct materials price variance. $7,175 unfavorable $7,175 favorable $5,925 unfavorable $5,925 favorable 12,000 $365,925 182,580 69,000 33,000 63
Rex Industries has identified three different activities as cost drivers: machine setups, machine hours, and inspections. The overhead and estimated usage are: Compute the overhead rate for each activity. Round your answers to two decimal places. Overhead Overhead Annual Rate per Activity per Activity Usage Activity Machine Setups $157,850 4,100 $ Machine Hours 324,622 14,114 2$ Inspections 119,000 3,400
Green and White Company reported the following monthly data: Units produced Sales price Direct materials Direct labor Variable overhead Fixed overhead What is Green and White's contribution margin for this month if 1,090 units were sold? Multiple Choice O $74,400 $26,160 $32,700 3,100 units $ 30 per unit $ 1 per unit $ 2 per unit $ 3 per unit $ 12,400 in total $93,000
Activity Cost Driver Chosen asAllocation Base Conversion Cost Per Unit ofAllocation Base Materials handling Number of parts $1.00 Machining Machine hours 60.00 Packaging Number of finished units 2.00 Each windsock requires three parts and spends five minutes in the machining department. The total cost of direct materials and direct labor is $3.50 per windsock. Gale produces 20,000 windsocks each year and sells them at 140% of cost. The selling price per windsock is: Question 8 options: $13.50. $18.90. $16.10. $88.20.
5 Vista Company reports the following information. Direct materials Direct labor Variable overhead Fixed overhead Units produced Compute its product cost per unit under absorption costing. Multiple Choice $76.00. $152.00. $171.00. $ 44 per unit 64 per unit $ 44 per unit $ 380,000 per year 20,000 units < Pr
Use three different activities as cost drivers, machine setups, machine hours, and inspections to compute the overhead rate for each activity. Activity Overhead per Activity Annual Usage Machine Setups $75,000 6,000 Machine Hours $85,002 5,484 Inspections 70,000 20,000
Activity Cost Driver Chosen asAllocation Base Conversion Cost Per Unit ofAllocation Base Materials handling Number of parts $1.00 Machining Machine hours 60.00 Packaging Number of finished units 2.00 Each windsock requires three parts and spends five minutes in the machining department. The total cost of direct materials and direct labor is $3.50 per windsock. Gale produces 20,000 windsocks each year and sells them at 140% of cost. The total cost of producing the 20,000 windsocks is: Question 7 options: $160,000. $230,000. $270,000. $1,260,000.
ssment Tool iFrame A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds @ $8 per pound 3 DLH @ $15 per DLH 3 DLH @ $12 per DLH Actual Results 59,200 pounds @ $8.10 per pound 24,900 hours @ $15.50 per hour $ 308,700 8,400 units Exercise 23-8 (Algo) Standard cost per unit, total budgeted and actual costs, and total cost variance LO P2 (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare the standard cost card showing standard cost per unit. Direct materials Direct labor Overhead Total $ 0