Consider the following data for two products of Vigano Manufacturing.ActivityBudgetedCostActivity Driver(20 machinesetups)11,200 (16,000 parts)(100inspections)Machine setup$ 14,000Parts handlingQuality inspections16,800Total budgeted$ 42,000overheadUnitInformationUnits producedDirectmaterials costDirect laborProduct AProduct B1,400 units280 units$ 24 per unit$ 34 per unit$ 44 per unit$ 54 per unitcostDirect laborhours2 per unit2.50 per unit1. Using a plantwide overhead rate based on 3,500 direct labor hours, compute the total product cost per unit for eachproduct.2. Consider the following additional information about these two products. If activity-based costing is used to allocateoverhead cost, (a) compute overhead activity rates, (b) allocate overhead cost to Product A and Product B and computeoverhead cost per unit for each, and (c) compute product cost per unit for each.Actual ActivityUsageSetupsPartsProduct AProduct B8 setups10,000 parts40 inspections12 setups6,000 parts60 inspectionsInspectionsX Answer is complete but not entirely correct.Complete this question by entering your answers in the tabs below.Required Required1Consider the following additional information about these two products. If activity-basedcosting is used to allocate overhead cost, (a) compute overhead activity rates, (b) allocateoverhead cost to Product A and Product B and compute overhead cost per unit for each,and (c) compute product cost per unit for each. (Round your final answers to 2 decimalplaces.)Show lessAa. Compute overhead activity ratesActivityActivity RateMachine setupParts handling$700.00 per setup$0.70 per partperinspectionb. Allocate overhead to Product A, B and computeQuality inspection2$168.00overhead cost per unitAllocated CostActivityProduct AProduct BMachine setupParts handlingQuality inspectionTotal allocated costUnits producedOverhead cost per unitc. Product cost per unit using activity-based costing8,4004,20010,0802$5,6002$7,0006,720$1,400$ 114,520.00X $ 47,320.00X$19,32022,680280ProductCost perPer UnitUnitProduct AProduct B81.80169.00< Required 1Required 2 > Consider the following data for two products of Vigano Manufacturing.BudgetedCostActivityActivity Driver(20 machinesetups)11,200 (16,000 parts)(100inspections)Machine setup$ 14,000Parts handlingQuality inspectionsTotal budgetedoverhead16,800$ 42,000UnitInformationUnits producedDirectmaterials costDirect laborcostDirect laborhoursProduct AProduct B1,400 units280 units$ 24 per unit$ 34 per unit$ 44 per unit$ 54 per unit2 per unit2.50 per unit1. Using a plantwide overhead rate based on 3,500 direct labor hours, compute the total product cost per unit for eachproduct.2. Consider the following additional information about these two products. If activity-based costing is used to allocateoverhead cost, (a) compute overhead activity rates, (b) allocate overhead cost to Product A and Product B and computeoverhead cost per unit for each, and (c) compute product cost per unit for each.Actual ActivityUsageSetupsPartsProduct AProduct B8 setups10,000 parts40 inspections12 setups6,000 parts60 inspectionsInspectionsX Answer is complete but not entirely correct.Complete this question by entering your answers in the tabs below.Required Required12Using a plantwide overhead rate based on 3,500 direct labor hours, compute the totalproduct cost per unit for each product.ProductCostDirectDirectPer UnitOverheadMaterialsLaborper UnitProductAProductB$ 33,600X $ 61,600X $ 33,60dx $929,520X15,120X8,400X33,040XRequired 1Required 2 >

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Consider the following data for two products of Vigano Manufacturing. Activity Budgeted Cost Activity Driver (20 machine setups) 11,200 (16,000 parts) (100 inspections) Machine setup $ 14,000 Parts handling Quality inspections 16,800 Total budgeted $ 42,000 overhead Unit Product A Product B Information Units produced Direct materials cost Direct labor 1,400 units 280 units $ 24 per unit $ 34 per unit $ 44 per unit $ 54 per unit cost Direct labor hours 2 per unit 2.50 per unit 1. Using a plantwide overhead rate based on 3,500 direct labor hours, compute the total product cost per unit for ea product. 2. Consider the following additional information about these two products. If activity-based costing is used to allocat overhead cost, (a) compute overhead activity rates, (b) allocate overhead cost to Product A and Product B and comp overhead cost per unit for each, and (c) compute product cost per unit for each. Actual Activity Usage Setups Parts Product A Product B 8 setups 10,000 partS 40 inspections 12 setups 6,000 parts 60 inspections Inspections

Consider the following data for two products of Vigano Manufacturing. Activity Budgeted Cost Activity Driver (20 machine setups) 11,200 (16,000 parts) (100 inspections) Machine setup $ 14,000 Parts handling Quality inspections 16,800 Total budgeted $ 42,000 overhead Unit Product A Product B Information Units produced Direct materials cost Direct labor 1,400 units 280 units $ 24 per unit $ 34 per unit $ 44 per unit $ 54 per unit cost Direct labor hours 2 per unit 2.50 per unit 1. Using a plantwide overhead rate based on 3,500 direct labor hours, compute the total product cost per unit for ea product. 2. Consider the following additional information about these two products. If activity-based costing is used to allocat overhead cost, (a) compute overhead activity rates, (b) allocate overhead cost to Product A and Product B and comp overhead cost per unit for each, and (c) compute product cost per unit for each. Actual Activity Usage Setups Parts Product A Product B 8 setups 10,000 partS 40 inspections 12 setups 6,000 parts 60 inspections Inspections

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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Mack Precision Tool and Die has two production departments, Fabricating and Finishing, and two service departments, Repair and Quality Control. Direct costs for each department and the proportion of service costs used by the various departments for the month of March follow: Department Fabricating Finishing Repair Quality Control From: Direct Costs Repair $ 147,600 Service department costs Repair Quality control Total 112, 200 48,300 140, 210 $ Repair 8 0.3 0 $ Proportion of Services Used by Quality Control Fabricating Required: Use the reciprocal method to allocate the service costs. (Matrix algebra is not required.) Note: Amounts to be deducted should be indicated by a minus sign. Do not round Intermediate calculations. Round your final answers to the nearest whole dollar amounts. 0.3 Cost Allocation To: Quality Control 0.5 8.2 Fabricating $ Finishing 0.2 0.5 0 $ Finishing
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Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can be traced to four separate activity pools. The budgeted activity cost and activity base data by product are provided below. Activity Cost Activity Base Procurement $364,200 Number of purchase orders Scheduling 243,400 Number of production orders Materials handling 417,300 Number of moves Product development 773,900 Number of engineering changes Production 1,428,300 Machine hours Number of Number of Number Number of Number Purchase Production of Engineering Machine of Orders Orders Moves Changes Hours Units Disk drives 4,120 270 1,500 11 2,200 2,100 Tape drives 2,400 245 500 7 8,500 3,500 Wire drives 11,500 790 3,500 21 10,700 2,400 The activity-based cost for each tape drive unit is Oa. $291.69 Ob. $239.52 Oc. $740.06 Od. $20.21
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Black and Blue Sports Inc. manufactures two products: snowboards and skis. The factory overhead incurred is as follows: 1 Indirect labor $507,000.00 2 Cutting Department 156,000.00 3 Finishing Department 192,000.00 4 Total $855,000.00 The activity base associated with the two production departments is direct labor hours. The indirect labor can be assigned to two different activities as follows: 1 Activity Budgeted Activity Cost Activity Base 2 Production control $237,000.00 Number of production runs 3 Materials handling 270,000.00 Number of moves 4 Total $507,000.00 The activity-base usage quantities and units produced for the two products follow: Number of Number of Direct Labor Hours— Direct Labor Hours— Units Production Runs Moves Cutting Finishing Produced Snowboards 430 5,000 4,000 2,000 6,000 Skis 70 2,500 2,000 4,000 6,000 Total 500 7,500 6,000 6,000…