Please do not give solution in image format thanku Gibson Manufacturing Company produced 2,600 units of inventory in January, Year 2. It expects to produce an additional 9,400 unitsduring the remaining 11 months of the year. In other words, total production for year 2 is estimated to be 12,000 units. Direct materialsand direct labor costs are $79 and $65 per unit, respectively. Gibson expects to incur the following manufacturing overhead costsduring the year 2 accounting period.Production suppliesSupervisor salaryDepreciation on equipmentUtilitiesRental fee on manufacturing facilitiesRequireda. Combine the individual overhead costs into a cost pool and calculate a predetermined overhead rate assuming the cost driver isnumber of units.b. Determine the cost of the 2,600 units of product made in January.Required A Required B$Complete this question by entering your answers in the tabs below.6,200188,000136,00019,000262,800Predetermined overhead rateCombine the individual overhead costs into a cost pool and calculate a predetermined overhead rate assuming the cost driveris number of units. (Round your answer to 2 decimal places.)per unit< Required ARequired B > Gibson Manufacturing Company produced 2,600 units of inventory in January, Year 2. It expects to produce an additional 9,400 unitsduring the remaining 11 months of the year. In other words, total production for year 2 is estimated to be 12,000 units. Direct materialsand direct labor costs are $79 and $65 per unit, respectively. Gibson expects to incur the following manufacturing overhead costsduring the year 2 accounting period.Production suppliesSupervisor salaryDepreciation on equipmentUtilitiesRental fee on manufacturing facilitiesRequireda. Combine the individual overhead costs into a cost pool and calculate a predetermined overhead rate assuming the cost driver isnumber of units.b. Determine the cost of the 2,600 units of product made in January.Required A Required B$Complete this question by entering your answers in the tabs below.6, 200188,000136,00019,000262,800Indirect overhead costsDirect materialsDirect laborTotalDetermine the cost of the 2,600 units of product made in January.AllocatedCost$< Required ARequired B >

A predetermined rate is a fixed or established rate that is agreed upon in advance and used as a…

Gibson Manufacturing Company produced 2,600 units of inventory in January, Year 2. It expects to during the remaining 11 months of the year. In other words, total production for year 2 is estimated t and direct labor costs are $79 and $65 per unit, respectively. Gibson expects to incur the following during the year 2 accounting period. Production supplies Supervisor salary Depreciation on equipment Utilities Rental fee on manufacturing facilities $ 6,200 188,000 136,000 19,000 262,800

Gibson Manufacturing Company produced 2,600 units of inventory in January, Year 2. It expects to during the remaining 11 months of the year. In other words, total production for year 2 is estimated t and direct labor costs are $79 and $65 per unit, respectively. Gibson expects to incur the following during the year 2 accounting period. Production supplies Supervisor salary Depreciation on equipment Utilities Rental fee on manufacturing facilities $ 6,200 188,000 136,000 19,000 262,800

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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