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Flynn Industries has three activity cost pools and two products. It estimates production 2,000 units of Product BC113 and 1,000 of Product AD908. Having identified its activity cost pools and the cost drivers for each pool, Flynn accumulated the following data relative to those activity cost pools and cost drivers. Activity Cost Pools Machine setup Machining Packing Annual Overhead Data Using the above data, do the following: Activity Cost Pools - Your answer is partially correct. Machine setup Machining Packing Cost Drivers Setups Machine hours Orders $ $ Estimated Overhead 22000 88020 33660 Estimated Overhead $22,000 143680 88,020 Prepare a schedule showing the computations of the activity-based overhead rates per cost driver. 33,660 Estimated Use of Cost Drivers per Product Estimated Use of Cost Drivers per Activity 44 44 4,890 Estimated Use of Cost Drivers per Activity 4890 510 Product BC113 machine hours 510 orders 1,200 setups $ 190 21 $ $ Product AD908 23 3,690 320 Activity-Based Overhead Rates per setup per machine hr. per order

Flynn Industries has three activity cost pools and two products. It estimates production 2,000 units of Product BC113 and 1,000 of Product AD908. Having identified its activity cost pools and the cost drivers for each pool, Flynn accumulated the following data relative to those activity cost pools and cost drivers. Activity Cost Pools Machine setup Machining Packing Annual Overhead Data Using the above data, do the following: Activity Cost Pools - Your answer is partially correct. Machine setup Machining Packing Cost Drivers Setups Machine hours Orders $ $ Estimated Overhead 22000 88020 33660 Estimated Overhead $22,000 143680 88,020 Prepare a schedule showing the computations of the activity-based overhead rates per cost driver. 33,660 Estimated Use of Cost Drivers per Product Estimated Use of Cost Drivers per Activity 44 44 4,890 Estimated Use of Cost Drivers per Activity 4890 510 Product BC113 machine hours 510 orders 1,200 setups $ 190 21 $ $ Product AD908 23 3,690 320 Activity-Based Overhead Rates per setup per machine hr. per order

FINANCIAL ACCOUNTING
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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Flynn Industries has three activity cost pools and two products. It estimates production 2,000 units of Product BC113 and 1,000 of Product AD908. Having identified its activity cost pools and the cost drivers for each pool, Flynn accumulated the following data relative to those activity cost pools and cost drivers. Activity Cost Pools Machine setup Machining Packing Using the above data, do the following: Machine setup Annual Overhead Data Activity Cost Pools Machining Packing $ Your answer is partially correct. $ Cost Drivers $ Setups Machine hours $ Orders Cost Assigned Estimated Overhead eTextbook and Media Prepare a schedule showing the computations of the activity-based overhead rates per cost driver. * Your answer is incorrect. 22000 88020 Overhead cost per unit $ 33660 Estimated Overhead 143680 $22,000 88,020 33,660 BC113 Estimated Use of Cost Drivers per Product Estimated Use of Cost Drivers per Activity Estimated Use of Cost Drivers per Product Estimated Use of Cost Drivers per Activity Prepare a schedule assigning each activity's overhead cost to the two products. 44 4890 $ 4,890 44 510 setups machine hours 510 orders AD908 Product BC113 AD908 1,200 Activity-Based Overhead Rates 190 21 $ $ Compute the overhead cost per unit for each product. (Round answers to 2 decimal places, e.g. 12.25.) $ Product AD908 $ 23 $ 3,690 Activity-Based Overhead Rates 320 Cost Assigned per setup per machine hr. per order
Transcribed Image Text:Flynn Industries has three activity cost pools and two products. It estimates production 2,000 units of Product BC113 and 1,000 of Product AD908. Having identified its activity cost pools and the cost drivers for each pool, Flynn accumulated the following data relative to those activity cost pools and cost drivers. Activity Cost Pools Machine setup Machining Packing Using the above data, do the following: Machine setup Annual Overhead Data Activity Cost Pools Machining Packing $ Your answer is partially correct. $ Cost Drivers $ Setups Machine hours $ Orders Cost Assigned Estimated Overhead eTextbook and Media Prepare a schedule showing the computations of the activity-based overhead rates per cost driver. * Your answer is incorrect. 22000 88020 Overhead cost per unit $ 33660 Estimated Overhead 143680 $22,000 88,020 33,660 BC113 Estimated Use of Cost Drivers per Product Estimated Use of Cost Drivers per Activity Estimated Use of Cost Drivers per Product Estimated Use of Cost Drivers per Activity Prepare a schedule assigning each activity's overhead cost to the two products. 44 4890 $ 4,890 44 510 setups machine hours 510 orders AD908 Product BC113 AD908 1,200 Activity-Based Overhead Rates 190 21 $ $ Compute the overhead cost per unit for each product. (Round answers to 2 decimal places, e.g. 12.25.) $ Product AD908 $ 23 $ 3,690 Activity-Based Overhead Rates 320 Cost Assigned per setup per machine hr. per order
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