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Hagy Corporation has an activity-based costing system with three activity cost pools-Processing, Setting Up, and Other. The company's overhead costs, which consist of factory utilities and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Data concerning the company's costs and activity-based costing system appear below: Factory utilities (total) Indirect labor (total) Distribution of Resource Consumption Across Activity Cost Pools Setting Up 0.50 0.20 Factory utilities Indirect labor $94,000 $10,500 Factory utilities Processing 0.40 0.10 Required: Assign overhead costs to activity cost pools using activity-based costing. Activity Cost Pools Processing Setting Up Other Other 0.10 0.70 $ Total 0

Hagy Corporation has an activity-based costing system with three activity cost pools-Processing, Setting Up, and Other. The company's overhead costs, which consist of factory utilities and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Data concerning the company's costs and activity-based costing system appear below: Factory utilities (total) Indirect labor (total) Distribution of Resource Consumption Across Activity Cost Pools Setting Up 0.50 0.20 Factory utilities Indirect labor $94,000 $10,500 Factory utilities Processing 0.40 0.10 Required: Assign overhead costs to activity cost pools using activity-based costing. Activity Cost Pools Processing Setting Up Other Other 0.10 0.70 $ Total 0

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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Hagy Corporation has an activity-based costing system with three activity cost pools-Processing, Setting Up, and Other. The company's overhead costs, which consist of factory utilities and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Data concerning the company's costs and activity-based costing system appear below: Factory utilities (total). Indirect labor (total) Distribution of Resource Consumption Across Activity Cost Pools Setting Up 0.50 0.20 Factory utilities Indirect labor Factory utilities Indirect labor Total $94,000 $10,500 Processing 0.40 0.10 Required: Assign overhead costs to activity cost pools using activity-based costing. S Processing Activity Cost Pools Setting Up 0 S 0 $ Other. 0.10 0.70 Other $ $ 0 $ Total 0 0 0 4
Transcribed Image Text:Hagy Corporation has an activity-based costing system with three activity cost pools-Processing, Setting Up, and Other. The company's overhead costs, which consist of factory utilities and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Data concerning the company's costs and activity-based costing system appear below: Factory utilities (total). Indirect labor (total) Distribution of Resource Consumption Across Activity Cost Pools Setting Up 0.50 0.20 Factory utilities Indirect labor Factory utilities Indirect labor Total $94,000 $10,500 Processing 0.40 0.10 Required: Assign overhead costs to activity cost pools using activity-based costing. S Processing Activity Cost Pools Setting Up 0 S 0 $ Other. 0.10 0.70 Other $ $ 0 $ Total 0 0 0 4
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