Bike-O-Rama produces two bike models: Voltage and EasyRider. Departmental overhead data follow. Department Fabricating Assembly Budgeted Cost $ 102,500 93,500 Allocation Base Machine hours (MH) Direct labor hours (DLH) Budgeted Usage 8,200 MH 1,700 DLH Required: 1. Compute departmental overhead rates using (a) machine hours to allocate budgeted Fabricating costs and (b) direct labor hours to allocate budgeted Assembly costs. 2. The company reports the following actual production usage data. Compute the overhead cost per unit for each model. Voltage 2.0 MH 1.6 DLH EasyRider 4.0 MH 0.6 DLH Machine hours per unit Direct labor hours per unit 3. The company reports additional information below. For each model, compute the product cost per unit. Per Unit Selling Price Direct Labor Voltage EasyRider $ 280 174 Direct Materials $ 92 82 $ 53 17 4. For each model, compute gross profit per unit (selling price per unit minus product cost per unit).

Bike-O-Rama produces two bike models: Voltage and EasyRider. Departmental overhead data follow. Department Fabricating Assembly Budgeted Cost $ 102,500 93,500 Allocation Base Machine hours (MH) Direct labor hours (DLH) Budgeted Usage 8,200 MH 1,700 DLH Required: 1. Compute departmental overhead rates using (a) machine hours to allocate budgeted Fabricating costs and (b) direct labor hours to allocate budgeted Assembly costs. 2. The company reports the following actual production usage data. Compute the overhead cost per unit for each model. Voltage 2.0 MH 1.6 DLH EasyRider 4.0 MH 0.6 DLH Machine hours per unit Direct labor hours per unit 3. The company reports additional information below. For each model, compute the product cost per unit. Per Unit Selling Price Direct Labor Voltage EasyRider $ 280 174 Direct Materials $ 92 82 $ 53 17 4. For each model, compute gross profit per unit (selling price per unit minus product cost per unit).

Name: Bike-O-Rama produces two bike models: Voltage and EasyRider. Departme
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Description: Bike-O-Rama produces two bike models: Voltage and EasyRider. Departmental overhead data follow.DepartmentFabricatingAssemblyBudgeted Cost$ 102,50093,500Allocation BaseMachine hours (MH)Direct labor hours (DLH)Budgeted Usage8,200 MH1,700 DLHRequired:

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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Crash Bang, Co. uses a standard cost system and provides the following information: Standards: Static budget variable overhead $5,590.00. Static budget fixed overhead $22,250.00. Static budget direct labor hours 566 hours. Static budget number of units 21,000 units. Static budget direct labor hours 0.023 hours per unit. Crash Bang, Co. allocates manufacturing overhead to production based on standard direct labor hours. Crash Bang, Co. reported the following actual results for 2020: Actual: Number of units produced 19,800. Actual variable overhead $5,230.00 Actual fixed overhead $24,570.00. Actual direct labor hours 485. (Round your answers to two decimal places when needed and use rounded answers for all future calculations).1. Compute the fixed overhead allocation rates.
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Bike-O-Rama produces two bike models: Voltage and EasyRider. Departmental overhead data follow. Department Fabricating Assembly Budgeted Cost $ 147,000 145,200 Allocation Base Machine hours (MH) Direct labor hours (DLH) Budgeted Usage 9,800 MH 3,300 DLH Required: 1. Compute departmental overhead rates using (a) machine hours to allocate budgeted Fabricating costs and (b) direct labor hours to allocate budgeted Assembly costs. 2. The company reports the following actual production usage data. Compute the overhead cost per unit for each model. Voltage 2.0 MH 2.0 DLH EasyRider 4.0 MH 0.5 DLH 3. The company reports additional information below. For each model, compute the product cost per unit. Machine hours per unit Direct labor hours per unit Selling Price $ 290 195 Per Unit Voltage EasyRider Direct Materials $ 108 98 4. For each model, compute gross profit per unit (selling price per unit minus product cost per unit). Direct Labor $ 47 20 Complete this question by entering your answers…
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