Hamilton, a decorative wall clock menufacturer uses activity-based costing. Each clock consists of 20 separate parts totaling $95 in direct materials, and requires 2.5 hours of machine time to produce. Additionalinformation is as follows:ActivityMaterials handlingMachiningAssemblingPackagingWhat is the total manufacturing cost per clock?Multiple ChoicOOO$206.60.$125.75.$124.30$12113.Allocation Base$115 32.Number of partsMachine hoursNumber of partsNumber of finished clocksCost Allocation Rate$ 0.087.200.352.70

The objective of the question is to calculate the total manufacturing cost per clock using the…

Answered: Hamilton, a decorative wall clock…

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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Activity-Based Costing CardioTrainer Equipment Company manufactures stationary bicycles and treadmills. The products are produced in the Fabrication and Assembly production departments. In addition to production activities, several other activities are required to produce the two products. These activities and their associated activity rates are as follows: Activity Activity Rate Fabrication $22 per machine hour (mh) Assembly $12 per direct labor hour (dlh) Setup $40 per setup Inspecting $18 per inspection Production scheduling $8 per production order Purchasing $5 per purchase order The activity-base usage quantities and units produced for each product were as follows: Stationary Bicycle Treadmill Machine hours 1,680 1,070 Direct labor hours 243 131 Setups 45 131 Inspections 158 94 Production orders 60 32 Purchase orders 240 98 Units produced 500 350 Use the activity rate and usage information to compute the total activity costs and the activity…
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Lens Care Inc. (LCI) manufactures specialized equipment for polishing optical lenses. There are two models - one mainly used for fine eyewear (F-32) and another for lenses used in binoculars, cameras, and similar equipment (B-13).The manufacturing cost of each unit is calculated using activity-based costing, using the following manufacturing cost pools: Cost Pools Allocation Base Costing Rate Materials handling Number of parts $ 3.00 per part Manufacturing supervision Hours of machine time $ 14.86 per hour Assembly Number of parts $ 3.60 per part Machine setup Each setup $ 56.80 per setup Inspection and testing Logged hours $ 45.80 per hour Packaging Logged hours $ 19.80 per hour LCI currently sells the B-13 model for $3,125 and the F-32 model for $2,900. Manufacturing costs and activity usage for the two products are as follows: B-13 F-32 Direct materials $ 164.80 $ 75.84 Number of parts 166 126 Machine hours 8.20 4.26…
Tiger Furnishings produces two models of cabinets for home theater components, the Basic and the Dominator. Data on operations and costs for March follow: Basic Dominator Total Units produced 1,050 450 1,500 Machine-hours 3,800 1,800 5,600 Direct labor-hours 3,600 1,500 5,100 Direct materials costs $ 11,400 $ 3,400 $ 14,800 Direct labor costs $ 73,800 $39,800 $ 113,600 Manufacturing overhead costs $ 181,764 Total costs $ 310,164 Required: Compute the predetermined overhead rate assuming that Tiger Furnishings uses direct labor costs to allocate overhead costs. (Round your answer to 2 decimal places.)
19. Data concerning three of Scarf Corporation's activity cost pools appear below: h Activity Cost Pools Total Cost Assembling Products Designing Products Setting Up Batches $48,200 Total Activity 4,820 assembly hours 8,392 product design hours. $5,400 120 batch setups $864,376 Required: Compute the activity rates for each of the three cost pools. Show your work! gi
Hamilton, a decorative wall clock manufacturer uses activity-based costing. Each clock consists of 20 separate parts totaling $95 in direct materials, and requires 2.5 hours of machine time to produce. Additional information is as follows: Activity Materials handling Number of parts Machining Machine hours Assembling Packaging What is the cost of machining per clock? Multiple Choice $144.00 Allocation Base $180.00 Number of parts Number of finished clocks Cost Allocation Rate $ 0.08 7.20 0.35 2.70
Hayward Industries manufactures dining chairs and tables. The following information is available: Machine setups Inspections Dining Chairs Tables Total Overhead Cost 200 600 $48,000 250 470 $72,000 2,600 2,400 Labor hours Hayward is considering switching from Traditional Costing based on labor hours to activity-based costing. Assign total overhead costs to Tables using Activity Based Costing. $120,000 $62,400 $83,000 $37,000 $57,600
O&G Company manufactures console tables and uses an activity-based costing system to allocate all manufacturing conversion costs. Each console table consists of 40 separate parts totaling $250 in direct materials and requires 5.0 hours of machine time to produce. Additional information follows: Activity Materials handling Allocation Base Number of parts Machine hours Number of parts Number of finished units Machining Assembling Packaging What is the number of finished console tables? OA 200 OB. 467 OC. 25 OD. Cannot be determined from the information given Cost Allocation Rate $3.00 per part $4.80 per machine hour $1.00 per part $4.00 per finished unit
Please help me. Thankyou.
Lovell Variety Seeds mass produces wildflower seed packs. Relevant information used for the process costing system is provided below: Beginning physical units 2,300 Physical units started 22,600 Units in ending WIP 9,500, 40% complete Beginning costs $3,100 Added direct materials costs $12,000 Added direct labor costs $19,500 Added manufacturing overhead costs $8,600 What is the costs completed and transferred out? Please round your answer to the nearest whole dollar.

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