vaghela1 Student questionJava Source, Incorporated, (JSI) roasts, blends, and packages coffee beans for resale. Some of JSI's coffees sell in large volumes, while some newer blends sell in very low volumes. JSI prices its coffees at manufacturing cost plus a markup of 25%.For next year, JSI's budget includes estimated manufacturing overhead cost of $3,020,600. JSI allocates manufacturing overhead to products using direct labor-hours. The expected direct labor cost totals $612,000, which represents 51,000 hours of direct labor time.The expected direct materials and direct labor costs for one-pound bags of two of the company's coffee blends appear below.Kenya Dark Viet SelectDirect materials$ 4.40$ 3.20Direct labor (0.030 hour per bag) $ 0.36JSI's controller believes the company's traditional costing system may be providing misleading cost information; therefore, he gathered the following activity-based cost information:Activity Cost PoolActivity MeasureExpected Activity for the Year Expected Cost for the YearPurchasingPurchase orders1,740ordersNumber of setups1,770Number of batches 580Material handlingQuality controlRoastingBlendingPackagingExpected production and sales 96,0009,600Batch sizeRoasting hoursBlending hoursPackaging hours3$ 0.36SetupsPurchase order size 19,200Roasting time per 100 pounds 1.5Blending time per 100 pounds 0.5Packaging time per 100 pounds 0.395,60033,100Total manufacturing overhead costData regarding the expected production and sales of Kenya Dark and Viet Select coffee are presented below.Kenya Dark Viet Selectpoundspoundsper batch26,3003,000 pounds6003pounds.roasting hours 1.5blending hour 0.5packaging hour 0.3600setupsbatchespoundsper batchpoundsroasting hoursblending hourpackaging hourroasting hoursblending hourspackaging hoursRequired:1. Using direct labor-hours as the manufacturing overhead cost allocation base:1. Calculate the plantwide predetermined overhead rate.2. Calculate the unit product cost of one pound of Kenya Dark and one pound of Viet Select.2. Using the activity-based absorption costing approach:1. Calculate the total manufacturing overhead cost allocated to Kenya Dark and Viet Select.$ 504,600708,000139,200956,000397,200315,600$ 3,020,600Tim2. Using the data developed in (2a) above, compute Kenya Dark's and Viet Select's manufacturing overhead cost per pound.3. Calculate the unit product cost of one pound of Kenya Dark and one pound of Viet Select.Activate Window:Go to Settings to activa

The plantwide overhead rate is a single predetermined overhead rate that a company uses to allocate…

Data regarding the expected production and sales of Kenya Dark and Viet Select coffee are presented below. Kenya Dark Viet Select pounds Expected production and sales 96,000 9,600 pounds per batch 3 600 pounds roasting hours 1.5 blending hour 0.5 packaging hour 0.3 Batch size Setups 19,200 Purchase order size Roasting time per 100 pounds 1.5 Blending time per 100 pounds 0.5 Packaging time per 100 pounds 0.3 3,000 pounds pounds 600 3 per batch pounds roasting hours: blending hour packaging hour Required: 1. Using direct labor-hours as the manufacturing overhead cost allocation base: 1. Calculate the plantwide predetermined overhead rate. 2. Calculate the unit product cost of one pound of Kenya Dark and one pound of Viet Select. 2. Using the activity-based absorption costing approach: 1. Calculate the total manufacturing overhead cost allocated to Kenya Dark and Viet Select. 2. Using the data developed in (2a) above, compute Kenya Dark's and Viet Select's manufacturing overhead cost per pound. 3. Calculate the unit product cost of one pound of Kenya Dark and one pound of Viet Select. Activate Wind Go to Settings to a

Data regarding the expected production and sales of Kenya Dark and Viet Select coffee are presented below. Kenya Dark Viet Select pounds Expected production and sales 96,000 9,600 pounds per batch 3 600 pounds roasting hours 1.5 blending hour 0.5 packaging hour 0.3 Batch size Setups 19,200 Purchase order size Roasting time per 100 pounds 1.5 Blending time per 100 pounds 0.5 Packaging time per 100 pounds 0.3 3,000 pounds pounds 600 3 per batch pounds roasting hours: blending hour packaging hour Required: 1. Using direct labor-hours as the manufacturing overhead cost allocation base: 1. Calculate the plantwide predetermined overhead rate. 2. Calculate the unit product cost of one pound of Kenya Dark and one pound of Viet Select. 2. Using the activity-based absorption costing approach: 1. Calculate the total manufacturing overhead cost allocated to Kenya Dark and Viet Select. 2. Using the data developed in (2a) above, compute Kenya Dark's and Viet Select's manufacturing overhead cost per pound. 3. Calculate the unit product cost of one pound of Kenya Dark and one pound of Viet Select. Activate Wind Go to Settings to a

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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