Manufacturing Overhead Distribution Worksheet The following are selected operating data for the production and service departments of Bluestone Company for 2016. Departments Service Production 1 2 1 2 Overhead costs (identified by department) Indirect material $96,800 $164,400 $50,880 $1,032,000 Indirect labor $194,400 $288,000 $65,168 $2,878,000 Square feet of building floor space used 9,600 14,400 24,000 48,000 Assessed value of equipment used $42,000 $126,000 $252,000 $420,000 Cubic yards of factory space used 176,000 264,000 Machine hours 102,400 409,600 Direct labor $40,000 $800,000 Building depreciation of $192,000 is allocated on the basis of square feet of floor space. Personal property taxes of $72,000 are allocated on the basis of assessed values of equipment used. Costs for service departments 1 and 2 are allocated to production departments on the basis of cubic yards of factory space and machine hours, respectively. Required a. Prepare a 2016 overhead distribution worksheet for Bluestone Company similar to the one prepared for Exhibit 3-15. Use negative signs with answers, when appropriate. Under the Allocation Basis column, select the basis used to calculate each allocation. Bluestone Company Overhead Distribution Worsksheet For the Year Ended December 31, 2016 Service Dept. 1 Dept. 2 Production Dept. 1 Dept. 2 Allocation Basis Directly identifiable with departments: Indirect material Answer Answer Answer Answer Indirect labor Answer Answer Answer Answer Allocated to departments: Building depreciation Answer Answer Answer Answer Answer Personal property taxes Answer Answer Answer Answer Answer Total overhead Answer Answer Answer Answer Allocation of service departments: Dept. 1 Answer Answer Answer Answer Answer Dept. 2 Answer Answer Answer Answer Answer Total allocated overhead Answer Answer Answer Answer b. Compute the manufacturing overhead rates for production departments 1 and 2 using machine hours and direct labor costs, respectively, for allocation bases. Round answers to two decimal places, when applicable. Production Dept. 1 Answer Production Dept. 2 Answer PreviousSave AnswersNext

Manufacturing Overhead Distribution Worksheet The following are selected operating data for the production and service departments of Bluestone Company for 2016. Departments Service Production 1 2 1 2 Overhead costs (identified by department) Indirect material $96,800 $164,400 $50,880 $1,032,000 Indirect labor $194,400 $288,000 $65,168 $2,878,000 Square feet of building floor space used 9,600 14,400 24,000 48,000 Assessed value of equipment used $42,000 $126,000 $252,000 $420,000 Cubic yards of factory space used 176,000 264,000 Machine hours 102,400 409,600 Direct labor $40,000 $800,000 Building depreciation of $192,000 is allocated on the basis of square feet of floor space. Personal property taxes of $72,000 are allocated on the basis of assessed values of equipment used. Costs for service departments 1 and 2 are allocated to production departments on the basis of cubic yards of factory space and machine hours, respectively. Required a. Prepare a 2016 overhead distribution worksheet for Bluestone Company similar to the one prepared for Exhibit 3-15. Use negative signs with answers, when appropriate. Under the Allocation Basis column, select the basis used to calculate each allocation. Bluestone Company Overhead Distribution Worsksheet For the Year Ended December 31, 2016 Service Dept. 1 Dept. 2 Production Dept. 1 Dept. 2 Allocation Basis Directly identifiable with departments: Indirect material Answer Answer Answer Answer Indirect labor Answer Answer Answer Answer Allocated to departments: Building depreciation Answer Answer Answer Answer Answer Personal property taxes Answer Answer Answer Answer Answer Total overhead Answer Answer Answer Answer Allocation of service departments: Dept. 1 Answer Answer Answer Answer Answer Dept. 2 Answer Answer Answer Answer Answer Total allocated overhead Answer Answer Answer Answer b. Compute the manufacturing overhead rates for production departments 1 and 2 using machine hours and direct labor costs, respectively, for allocation bases. Round answers to two decimal places, when applicable. Production Dept. 1 Answer Production Dept. 2 Answer PreviousSave AnswersNext

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Concept explainers

Question

NOT GRADED NEED HELP
WITH STEP BY STEP INSTRUCTIONS TO COMPLETE HW from BOOK

Manufacturing Overhead Distribution Worksheet

The following are selected operating data for the production and service departments of Bluestone Company for 2016.

			Departments
	Service		Production
	1	2		1	2
Overhead costs (identified by department)
Indirect material	$96,800	$164,400		$50,880	$1,032,000
Indirect labor	$194,400	$288,000		$65,168	$2,878,000
Square feet of building floor space used	9,600	14,400		24,000	48,000
Assessed value of equipment used	$42,000	$126,000		$252,000	$420,000
Cubic yards of factory space used				176,000	264,000
Machine hours				102,400	409,600
Direct labor				$40,000	$800,000

Building depreciation of $192,000 is allocated on the basis of square feet of floor space. Personal property taxes of $72,000 are allocated on the basis of assessed values of equipment used. Costs for service departments 1 and 2 are allocated to production departments on the basis of cubic yards of factory space and machine hours, respectively.

Required

a. Prepare a 2016 overhead distribution worksheet for Bluestone Company similar to the one prepared for Exhibit 3-15.

Use negative signs with answers, when appropriate. Under the Allocation Basis column, select the basis used to calculate each allocation.

Bluestone Company Overhead Distribution Worsksheet For the Year Ended December 31, 2016
	Service Dept. 1 Dept. 2	Production Dept. 1 Dept. 2	Allocation Basis
Directly identifiable with departments:
Indirect material	Answer	Answer	Answer	Answer
Indirect labor	Answer	Answer	Answer	Answer
Allocated to departments:
Building depreciation	Answer	Answer	Answer	Answer	Answer
Personal property taxes	Answer	Answer	Answer	Answer	Answer
Total overhead	Answer	Answer	Answer	Answer
Allocation of service departments:
Dept. 1	Answer	Answer	Answer	Answer	Answer
Dept. 2	Answer	Answer	Answer	Answer	Answer
Total allocated overhead	Answer	Answer	Answer	Answer

b. Compute the manufacturing overhead rates for production departments 1 and 2 using machine hours and direct labor costs, respectively, for allocation bases.

Round answers to two decimal places, when applicable.

Production Dept. 1	Answer
Production Dept. 2	Answer

PreviousSave AnswersNext

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.