If required, round all per unit answers to the nearest cent.a. Determine the two production department factory overhead rates.Pattern DepartmentCut and Sew Departmentb. Use the two production department factory overhead rates to determine the factory overhead per unit for each product.Small gloveper unitMedium gloveper unitper unitLarge gloveper dlhper dih Kuple Production Department Factory Overhead Rate MethodHandy Leather, Inc., produces three sizes of sports gloves: small, medium, and large. A glove pattern is first stenciled onto leather in thePattern Department. The stenciled patterns are then sent to the Cut and Sew Department, where the glove a cut and sewed together.Handy Leather uses the multiple production department factory overhead rate method of allocating factory overhead copts. Its factoryoverhead costs were budgeted as follows:Pattern Department overheadCut and Sew Department overheadTotalThe direct labor estimated for each production department was as follows:Pattern Department1,700 direct labor hoursCut and Sew Department2,1003,000 direct labor hoursDirect labor hours are used to allocate the production department overhead to the products. The direct labor hours per unit for eachproduct for each production department were obtained from the engineering records as follows:Small Glove Medium Glove Large GloveProduction DepartmentsPattern Department0.06Cut and Sew Department0.09Direct labor hours per unit0.15Total$81,600134,400$216,0000.050.070.120.070.110.18

Name: If required, round all per unit answers to the nearest cent.a. Determ
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: If required, round all per unit answers to the nearest cent.a. Determine the two production department factory overhead rates.Pattern DepartmentCut and Sew Departmentb. Use the two production department factory overhead rates to determine the factor

Factory overhead is the total cost involved in operating all production facilities of a…

Business

Accounting

If required, round all per unit answers to the nearest cent. a. Determine the two production department factory overhead rates. Pattern Department per dih Cut and Sew Department per dih b. Use the two production department factory overhead rates to determine the factory overhead per unit for each product. Small glove per unit Medium glove per unit Large glove per unit

If required, round all per unit answers to the nearest cent. a. Determine the two production department factory overhead rates. Pattern Department per dih Cut and Sew Department per dih b. Use the two production department factory overhead rates to determine the factory overhead per unit for each product. Small glove per unit Medium glove per unit Large glove per unit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

A. How much overhead will be assigned to each product if these three cost drivers are used to allocate overhead? What is the total cost per unit produced for each product? B. How much of the overhead will be assigned to each product if direct labor cost is used to allocate overhead? What is the total cost per unit produced for each product?
Direct Labor wage rate is $ 30 per hour. a) Compute total cost per unit (for lambda and gamma) using traditional plantwide approach. (round your numbers) b) Compute total cost per unit (for lambda and gamma) using activity-based approach. (round your numbers)
The following figure depicts the complete system that Office Inc. uses to estimate the total cost of each office desk and office chair that it produces. How many cost pools does Office Inc.'s 2-stage costing system use for Office Chair objects? A. 7 B. 0 C. 6 D. 5 E. 4 F. 2 G. 1 H. 3 I. 8
Solve requirment d, e, and f
Bluefield Corp. has two product lines, A and B. Bluefield has identified the following information about its overhead and potential cost drivers: Total overhead $64,400 Cost drivers Number of labor hours 2,700 Number of machine hours 40,000 Required:1. Suppose Bluefield Corp. uses a traditional costing system with number of labor hours as the cost driver. Determine the amount of overhead assigned to each product line if Product A requires 62 percent of the labor hours and Product B requires 38 percent. 2. Suppose Bluefield uses a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line if Product A consumes 17,800 machine hours and Product B consumes 22,200.
Heidelberg Fabrication manufactures two products, G-09 and G-35: Units produced Direct materials cost per unit Machine-hours per unit Production runs per quarter G-09 19,400 $7 4 144 Machine depreciation Setup labor Materials handling Total Production at the plant is automated and any labor cost is included in overhead. Data on manufacturing overhead at the plant follow: G-35 3,880 $ 19 7 72 $184,760 52,380 41,904 $ 199,044 Required: a. Heidelberg currently applies overhead on the basis of machine-hours. What is the predetermined overhead rate for the quarter? Note: Round your answer to 2 decimal places. b. Heidelberg is thinking of adopting an ABC system. They have tentatively chosen the following cost drivers: machine-hours for machine depreciation, production runs for setup labor, and direct material dollars for materials handling. Compute the cost driver rates for the proposed system at Heidelberg.
I post agin this question ....
Oriole Stairs Co. designs and builds factory-made premium wooden stairways for homes. The manufactured stairway components (spindles, risers, hangers, hand rails) permit installation of stairways of varying lengths and widths. All are of white oak wood. Budgeted manufacturing overhead costs for the year 2025 are as follows. Overhead Cost Pools Purchasing Handling materials Production (cutting, milling, finishing) Setting up machines Inspecting Inventory control (raw materials and finished goods) Utilities Total budgeted overhead costs Purchasing Handling materials Production (cutting, milling, finishing) Setting up machines For the last 4 years, Oriole Stairs Co. has been charging overhead to products on the basis of machine hours. For the year 2025, 100,000 machine hours are budgeted. Activity Cost Pools Inspecting Inventory control (raw materials and finished goods) Utilities Jeremy Nolan, owner-manager of Oriole Stairs Co., recently directed his accountant, Bill Seagren, to…
24: Seat Belt Inc., produces three sizes of seat belts: small, medium, and large. A seat belt pattern is first stenciled onto fabric in the Pattern Department. The stenciled patterns are then sent to the Cut and Sew Department, where the seat belt is cut and sewed together. Seat Belt Inc. uses the multiple production department factory overhead rate method of allocating factory overhead costs. Its factory overhead costs were budgeted as follows: Overhead Dollars Direct Labor Hours Pattern Department: Cut and Sew Department Overhead: 40,000 dh 60,000 dlb $300,000 $600,000 $900,000 Totals: 100,000 The Company decides to use the Multiple Department Overhead method, and Direct Labor Hours are used to allocate the overhead. We know the following for each type of seatbelt: Small Medium 1.0 dlh 1.5 dlb 2.5 dlh Large 2.0 dlh 3.0 dlb 5.0 dla Pattern Department: Cut and Sew Department: 1.5 dla 2.5 dlh 4.0 dlk Total Per Unit Part I: Calculate the Departmental Factory Overhead Rate for each…
10. How much manufacturing overhead was applied from the Molding Department to Job P and how much was applied to Job Q? 11. How much manufacturing overhead was applied from the Fabrication Department to Job P and how much was applied to Job Q? 12. If Job P includes 20 units, what is its unit product cost?
Standard Product CostsDeerfield Company manufactures product M in its factory. Production of M requires 2 pounds of material P, costing $8 per pound and 0.5 hour of direct labor costing, $14 per hour. The variable overhead rate is $12 per direct labor hour, and the fixed overhead rate is $16 per direct labor hour. What is the standard product cost for product M? Direct material Answer Direct labor Answer Variable overhead Answer Fixed overhead Answer Standard product cost per unit Answer
Required information [The following information applies to the questions displayed below.] Hickory Company manufactures two products-13,000 units of Product Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all $684,000 of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Estimated Overhead. Cost $ 235,200 $73,600 $ 80,000 $ 295,200 Activity Cost Pool Machining Machine setups Product design General factory Activity Measure Machine-hours Number of setups Number of products Direct labor-hours: Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Product Y Product Z 6,600 5,400 40 120 1 7,600 6,800 Expected Activity 12,000 MHS 160 setups 2 products 14,400 DLHS