E19-15 Computing and using single plantwide overhead allocation rate Learning Objective 1 Basic $322,000 Koehler makes handheld calculators in two models: basic and professional. Koehler estimated $721,000 of manufacturing overhead and 515,000 machine hours for the year. The basic model actually consumed 230,000 machine hours, and the professional model consumed 285,000 machine hours. Compute the predetermined overhead allocation rate using machine hours (MHr) as the allocation base. How much overhead is allocated to the basic model? To the professional model?

E19-15 Computing and using single plantwide overhead allocation rate Learning Objective 1 Basic $322,000 Koehler makes handheld calculators in two models: basic and professional. Koehler estimated $721,000 of manufacturing overhead and 515,000 machine hours for the year. The basic model actually consumed 230,000 machine hours, and the professional model consumed 285,000 machine hours. Compute the predetermined overhead allocation rate using machine hours (MHr) as the allocation base. How much overhead is allocated to the basic model? To the professional model?

Name: E19-15 Computing and using single plantwide overhead allocation rateL
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Description: E19-15 Computing and using single plantwide overhead allocation rateLearning Objective 1Basic $322,000Koehler makes handheld calculators in two models: basic and professional.Koehler estimated $721,000 of manufacturing overhead and 515,000 machineho

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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Units produced per year Prime costs Direct labor hours Machine hours Production runs Inspection hours Maintenance hours Direct labor hours: Scientific calculator Business calculator Total Machine hours: Scientific calculator Business calculator Total Overhead costs: Setup costs Inspection costs Power Maintenance Total Required: Plantwide rate Overhead cost per unit: Scientific Product-Related Data Business Business Scientific 74,000 $239,000 99,800 49,500 100 2,000 2,250 Department Data Department 1 Department 2 77,300 139,720 217,020 23,000 381,800 404,800 $232,500 170,000 260,000 208,000 $870,500 1. Compute the overhead cost per unit for each product using a plantwide, unit-based rate using direct labor hours per direct labor hour 740,000 $2,390,000 998,000 495,000 150 3,000 9,000 per unit per unit 22,500 858,280 880,780 26,500 113,200 139,700 $232,500 170,000 133,000 219,500 $755,000
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! Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 7 pounds @ $9 per pound 3 DLH @ $17 per DLH 3 DLH @ $13 per DLH Actual Results 59,200 pounds @ $9.10 per pound 25,000 hours @ $17.60 per hour $ 334,000 8,400 units Exercise 21-8 (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 Compute total budgeted cost for June production. Total budgeted (standard) cost
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