Please do not give solution in image format thanku -dkFogerty Company makes two products-titanium Hubs and Sprockets. Data regarding the two products follow:Direct Labor-Hoursper Unit0.900.50Annual Production29,000 units46,000 unitsHubsSprocketsAdditional information about the company follows:a. Hubs require $32 in direct materials per unit, and Sprockets require $18.b. The direct labor wage rate is $13 per hour.c. Hubs require special equipment and are more complex to manufacture than Sprockets.d. The ABC system has the following activity cost pools:Activity Cost Pool (Activity Measure)Machine setups (number of setups)Special processing (machine-hours)General factory (organization-sustaining)Estimated OverheadCost$ 25,740$ 117,500$ 463,100.Hubs1304,700NARequired:1. Compute the activity rate for each activity cost pool.2. Determine the unit product cost of each product according to the ABC system.ActivitySprockets1048NATotal2344,700NA Special processing (machine-hours)General factory (organization-sustaining)Required:1. Compute the activity rate for each activity cost pool.2. Determine the unit product cost of each product according to the ABC sComplete this question by entering your answers in the tabs below.Required 1 Required 2Compute the activity rate for each activity cost pool.Activity Cost PoolMachine setupsSpecial processingComplete this question by entering your answers in the tabs below.Activity Rateper setupper MHDirect materialsDirect laborOverheadUnit cost$ 117,500$ 463,100Required 1 Require 2Determine the unit product cost of each product according to the ABC system. (Do not round intermediate calculations. Roundyour answers to 2 decimal places.)HubsSprockets< Required 1

calculation of activity rate and determination of unit production cost of each are as follows

Fogerty Company makes two products-titanium Hubs and Sprockets. Data regarding the two products follow: Direct Labor-Hours per Unit Annual Production 29,000 units 46,000 units 0.90 Hubs Sprockets 0.50 Additional information about the company follows: a. Hubs require $32 in direct materials per unit, and Sprockets require $18. b. The direct labor wage rate is $13 per hour. c. Hubs require special equipment and are more complex to manufacture than Sprockets. d. The ABC system has the following activity cost pools: Estimated Overhead Activity

Fogerty Company makes two products-titanium Hubs and Sprockets. Data regarding the two products follow: Direct Labor-Hours per Unit Annual Production 29,000 units 46,000 units 0.90 Hubs Sprockets 0.50 Additional information about the company follows: a. Hubs require $32 in direct materials per unit, and Sprockets require $18. b. The direct labor wage rate is $13 per hour. c. Hubs require special equipment and are more complex to manufacture than Sprockets. d. The ABC system has the following activity cost pools: Estimated Overhead Activity

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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