Factory depreciationIndirect laborFactory electricityIndirect materialsSelling expensesAdministrative expensesTotal costsTortilla chipsPotato chipsFactory overhead is allocated to the three products on the basis of processing hours. The products had the following production budget and processing hours per case:Budgeted VolumeProcessing Hours(Cases)Per CasePretzelsTotalTortilla chipsPotato chips$24,01259,5086,0006,0001,20013,200Pretzels6,78614,09433,40818,792$156,600TotalIf required, round all per-case answers to the nearest cent.a. Determine the single plantwide factory overhead rate.per processing hour0.120.15b. Use the overhead rate in (a) to determine the amount of total and per-case overhead allocated to each of the three products under generally accepted accounting principles.TotalPer-CaseFactory OverheadFactory Overhead0.10

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Description: Factory depreciationIndirect laborFactory electricityIndirect materialsSelling expensesAdministrative expensesTotal costsTortilla chipsPotato chipsFactory overhead is allocated to the three products on the basis of processing hours. The products had

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Factory depreciation Indirect labor Factory electricity Indirect materials Selling expenses Administrative expenses Total costs Factory overhead is allocated to the three products on the basis of processing hours. The products had the following production budget and processing hours per case: Budgeted Volume Processing Hours (Cases) Per Case Tortilla chips Potato chips Pretzels Total Tortilla chips Potato chips $24,012 59,508 6,786 14,094 33,408 18,792 $156,600 6,000 6,000 1,200 13,200 Pretzels If required, round all per-case answers to the nearest cent. a. Determine the single plantwide factory overhead rate. per processing hour Total 0.12 0.15 b. Use the overhead rate in (a) to determine the amount of total and per-case overhead allocated to each of the three products under generally accepted accounting principles. Total Per-Case Factory Overhead Factory Overhead 0.10

Factory depreciation Indirect labor Factory electricity Indirect materials Selling expenses Administrative expenses Total costs Factory overhead is allocated to the three products on the basis of processing hours. The products had the following production budget and processing hours per case: Budgeted Volume Processing Hours (Cases) Per Case Tortilla chips Potato chips Pretzels Total Tortilla chips Potato chips $24,012 59,508 6,786 14,094 33,408 18,792 $156,600 6,000 6,000 1,200 13,200 Pretzels If required, round all per-case answers to the nearest cent. a. Determine the single plantwide factory overhead rate. per processing hour Total 0.12 0.15 b. Use the overhead rate in (a) to determine the amount of total and per-case overhead allocated to each of the three products under generally accepted accounting principles. Total Per-Case Factory Overhead Factory Overhead 0.10

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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