Distribution of Direct and Indirect Overhead Costs to Producing Departments. Ming Chemical Co. operates with three producing departments—Blending, Testing, and Terminal. The overhead items and amounts for the period, along with the bases for their allocation, are listed below. How much is the total overhead to be charged to Terminal Department? Round your answer to whole number.2. What is the overhead rate per direct labor hour under Blending Department?. Round your answer in two decimal places. ItemAmountAllocation BasisP 24,000 Square footageBuilding depreciation..Janitorial cost .33,000 Square footageMaterials receiving cost..48,000 Materials usagePayroll Department cost.126,000 Number of employeesPower....75,000 Horsepower of equipmentOther relevant data are:BlendingTestingTerminalTotalDepartmentDepartmentDepartmentNumber of employees25401984Direct labor hours62,000104,000220,00054,0005,000Horsepower ofequipmentKilowatt-hours60,00015,00080,0004,0001,0006,00011,000Square footageDirectly chargeable2,0002,0002,0006,000P125,000P75,000P87,500P287,500overhead costDirect materialsP 75,000P25,000P100,000

Overheads means all indirect costs and indirect expenses related to production and manufacturing of…

Distribution of Direct and Indirect Overhead Costs to Producing Departments. Ming Chemical Co. operates with three producing departments—Blending, Testing, and Terminal. The overhead items and amounts for the period, along with the bases for their allocation, are listed below. How much is the total overhead to be charged to Terminal Department? Round your answer to whole number. 2. What is the overhead rate per direct labor hour under Blending Department?. Round your answer in two decimal places.

Distribution of Direct and Indirect Overhead Costs to Producing Departments. Ming Chemical Co. operates with three producing departments—Blending, Testing, and Terminal. The overhead items and amounts for the period, along with the bases for their allocation, are listed below. How much is the total overhead to be charged to Terminal Department? Round your answer to whole number. 2. What is the overhead rate per direct labor hour under Blending Department?. Round your answer in two decimal places.

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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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
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s === Mulligan Manufacturing Company uses a job order cost system with overhead applied to products at a rate of 150 percent of direct labor cost. Required: Treating each case independently, selected from the manufacturing data given below, find the missing amounts. You should do them in the order listed. (Hint: For the manufacturing costs in Case 3, first solve for conversion costs and then determine how much of that is direct labor and how much is manufacturing overhead.) Note: Do not round your intermediate calculations. Round your final answers to the nearest whole dollar. Enter all amounts as positive values. Direct materials used Direct labor Manufacturing overhead applied Total current manufacturing costs Beginning work in process inventory Ending work in process inventory Cost of goods manufactured Beginning finished goods inventory Ending finished goods inventory Cost of goods sold 89 SEP 17 84 < Prev Case 1 16,000 12,000 8,100 5,900 3,800 7,900 6 of 8 tv Case 2 ‒‒‒ ‒‒‒ ▬▬▬…
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The following is taken from Clausen Company's internal records of its factory with two operating departments. The cost driver for indirect labor is direct labor hours, and the cost driver for the remaining items is number of hours of machine use. Compute the total amount of rent and utilities allocated to Dept. 2 using activity-based costing. Direct LaborHours MachineHours Operating Dept. 1 864 9,300 Operating Dept. 2 2,016 6,200 Totals 2,880 15,500 Factory overhead costs Rent and utilities $ 20,700 Indirect labor 16,300 Depreciation – Equipment 13,000 Total factory overhead $ 50,000
Doles Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products. Activity Cost Pools Setting up batches Processing customer orders Assembling products Data concerning two products appear below: Number of batches Number of customer orders Number of assembly hours Total overhead cost Activity Rate $69.22 per batch $26.28 per customer order $ 12.11 per assembly hour Product K52W 65 45 418 Required: How much overhead cost would be assigned to each of the two products using the company's activity-based costing system? (Round your intermediate calculations and final answers to 2 decimal places.) Product K52W Product X94T Product X94T 52 30 161
Doede Corporation uses activity-based costing to compute product margins. In the first stage, the activity-based costing system allocates two overhead accounts--equipment depreciation and supervisory expense--to three activity cost pools--Machining, Order Filling, and Other--based on resource consumption. Data to perform these allocations appear below: Overhead costs: Equipment depreciation $ 91,000 Supervisory expense $ 12,300 Distribution of Resource Consumption Across Activity Cost Pools: Activity Cost Pools Machining Order Filling Other Equipment depreciation 0.60 0.30 0.10 Supervisory expense 0.60 0.20 0.20 In the second stage, Machining costs are assigned to products using machine-hours (MHs) and Order Filling costs are assigned to products using the number of orders. The costs in the Other activity cost pool are not assigned to products. Activity: MHs (Machining) Orders (Order Filling) Product W1 6,050 198 Product M0 21,800 999 Total…
Manufacturing cost data for Wildhorse Company, which uses a job order cost system, are presented below. Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labor cost and the rate is the same. (Round overhead rate to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,275.) Work in process 1/1/22 Direct materials used Direct labor Manufacturing overhead applied Total manufacturing costs Total cost of work in process Work in process 12/31/22 Cost of goods manufactured $ Case A 61,000 50,020 177,693 245,830 234,606 (a) (b) (c) Case B $18,910 $101,260 170,800 14,396 (d) (e) (f) (g)
A Corporation uses activity-based costing to assign overhead costs to products. Overhead costs have already been allocated to the company's three activity cost pools as follows: Machining, $12,100; Order Filling, $16,800; and Other, $13,500. Machining costs are assigned to products using machine-hours (MHs) and Order Filling costs are assigned to products using the number of orders. The costs in the Other activity cost pool are not assigned to products. Activity data appear below:ICO/4243 0 MHS (Machining) 5,800 4,200 Product P17 Product V29 Q. What is the overhead cost assigned to Product P17 under activity-based costing? Answer. (Click to select) (Click to select) None of the answers are correct. $10,122 $12,058 $16,842 $18,778 Orders (Order Filling) 300 700
Required: Determine the unit product cost of each of the company's two products under activity-based costing system.
for 11; 12; 13; and 15 11. Using the plantwide overhead rate, what percentage of the total overhead cost is allocated to Product Y and Product Z? Note: Round intermediate calculations to 2 decimal places. Round your "Percentage" answers to 2 decimal place. 12. Using the ABC system, what percentage of the Machining costs is assigned to Product Y and Product Z? Note: Round intermediate calculations and your "Percentage" answers to 2 decimal places. 13. Using the ABC system, what percentage of Machine Setups cost is assigned to Product Y and Product Z? Note: Round intermediate calculations to 2 decimal places. Round your "Percentage" answers to 2 decimal places. 15. Using the ABC system, what percentage of the General Factory cost is assigned to Product Y and Product Z? Note: Round intermediate calculations to 2 decimal places. Round your "Percentage" answers to 2 decimal place.