Single plantwide factory overhead rateSpotted Cow Dairy Company manufactures three products-whole milk, skim milk, and cream-in two production departments, Blending and Packing. The factory overhead for Spotted Cow Dairy is $441,000.The three products consume both machine hours and direct labor hours in the two production departments as followsDirect LaborHoursBlending DepartmentWhole milkSkimmiCreamSub tatalPacking DepartmentWhole milkSkim mikCreamSub totalTotalDirect labor hour overhead rate sMachine hour overhead rate3103302609004006201001,2002,100Direct labor hoursMachine hoursMachineHoursper machine hour9508703502,170Required:1. Determine the single slentwise factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours. If required, round all amounts to the nearest dollar.per direct labor hour$106301901,3303,5002. Determine the product factory overhead costs, using (e) the direct labor hour plantwide factory overhead rate and (b) the machine hour plantwide factory overhead rateWhole MilkSkim MilkCream

Factory overhead costs are those costs which are indirectly incurred for the manufacturing of…

mmx, and cream-in two production part The three products consume both machine hours and direct labor hours in the two production departments as follows Direct Labor Machine Hours Blending Department Skim mik Cream Sub total Packing Department Whole mil Dream Sub total # *# 330 Direct labor hours Machine hours 260 900 400 620 100 1,200 2,100 950 870 350 2.170 $10 630 190 1.330 3.500 Required 1. Determine the single plantwide factory overhead rate, using each of the following alocation bases: (a) direct labor hours and (b) machine hours. If required, round all amounts to the nearest dollar. Drect leber hour averend rate t Machine hour avera per machine hour 2. Determine the product factory overhead costs, using (e) the direct labor hour plantwide factory overhead rate and (b) the machine hour plantwide factory overhead rate Skim Mik Whole Milk Cream

mmx, and cream-in two production part The three products consume both machine hours and direct labor hours in the two production departments as follows Direct Labor Machine Hours Blending Department Skim mik Cream Sub total Packing Department Whole mil Dream Sub total # *# 330 Direct labor hours Machine hours 260 900 400 620 100 1,200 2,100 950 870 350 2.170 $10 630 190 1.330 3.500 Required 1. Determine the single plantwide factory overhead rate, using each of the following alocation bases: (a) direct labor hours and (b) machine hours. If required, round all amounts to the nearest dollar. Drect leber hour averend rate t Machine hour avera per machine hour 2. Determine the product factory overhead costs, using (e) the direct labor hour plantwide factory overhead rate and (b) the machine hour plantwide factory overhead rate Skim Mik Whole Milk Cream

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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Vanvalkenburg. Inc., manufactures and sells two products: Product GQ5 and Product JO. The company has an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Estimated Expected Activity Activity Overhead Activity Cost Pools Measures Cost Product Q5 Product JØ Total Labor-related DLHS $191,748 70,536 295,592 Production orders 3,000 2,800 5,800 orders 300 500 800 Order size MHs 4,300 4,500 8,800 $557,876 The activity rate for the Order Size activity cost pool under activity-based costing is closest to: Multiple Cholce $36.23 per MH $68.48 per MH $96.19 per MH
Adirondack Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plantwide factory overhead rate for allocating overhead to products. However, management is considering moving to a multiple department rate system for allocating overhead. Painting Dept. Finishing Dept. Totals Overhead $254,100 80,200 $334,300 Ob. $2.07 per dlh Oc. $7.71 per dlh Od. $24.20 per dlh Total Direct Labor Hours 10,500 10,400 20,900 DLH per Product A 9 6 15 B 10 The single plantwide factory overhead rate for Adirondack Marketing Inc. is Oa. $16.00 per dlh 6 16
a. Determine the tvio production department factory overhead rates. Pattern Department per dlh HIP Jad b. Use the tvo production department factory overhead rates to dezermine the factory overheed per unit for each product. Cut and Sevw Department Small glove per unit nAr iinit
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Adirondack Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plantwide factory overhead rate for allocating overhead to products. However, management is considering moving to a multiple department rate system for allocating overhead. Total DLH per Product Direct Overhead Labor Hours B Painting Dept. $248,400 10,300 Finishing Dept. 65,700 10,000 6 Totals $314,100 20,300 11 12 The single plantwide factory overhead rate for Adirondack Marketing Inc. is Oa. $6.57 per dlh Ob. $15.47 per dlh Oc. $2.09 per dlh Od. $24.12 per dlh
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Bruce Corporation makes four products in a single facility. These products have the following unit product costs: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead. Unit product cost Additional data concerning these products are listed below. Multiple Choice Product C Product B Product D Product A Products A B C D $17.20 $ 21.10 $ 14.10 $ 16.80 19.20 22.60 17.00 11.00 6.00 7.20 29.10 16.00 $71.50 A 2.25 $ 86.70 $ 2.95 4,600 9.70 16.10 $66.90 $ 56.90 Products Grinding minutes per unit Selling price per unit Variable selling cost per unit Monthly demand in units. The grinding machines are potentially the constraint in the production facility. A total of 10,500 minutes are available per month on these machines. Direct labor is a variable cost in this company. Which product makes the MOST profitable use of the grinding machines? Note: Round your intermediate calculations to 2 decimal places. B 1.30 $ 79.10 $ 3.65 3,600 C 0.85 $ 75.90 $4.40 3,600
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Volume-based method of overhead cost allocation Required: -Allocate costs to products on the basis of labour hours -Over head cost rate = - Please write the formula or equation
Transcribed Image Text:A furniture-making business manufactures quality furniture to customers orders. It has three production departments (A, B and C) which have overhead absorption rates (per direct labour hour) of $12.86, $12.40 and $14.03 respectively. Two pieces of furniture are to be manufactured for customers. Direct costs are as follows. Job MNO Direct material Direct labour Job XYZ $154 20 hours dept A 12 hours dept B 10 hours dept C $108 16 hours dept A 10 hours dept B 14 hours dept C Labour rates are as follows: $3.80(A): $3.50 (B); $3.40 (C) Calculate the total cost of cach job the selling price if there is a markup of 25%
A company has the following overhead costs and activities: Estimated Expected Activity Product V Product W Product X Overhead Activities and Activity Measures Machine setups (setups) Processing customer orders (orders) Assembling products (assembly-hours) $9,178.00 Cost S7,234.50 $3,565.50 69 12 10 20 21 492 697 111 4. A company sells two products, one with sales of $10,000 and variable expenses of $2,500, another with sales of $46,000 and variable expenses of $15,420. Fixed expenses are $33,100. Breakeven point for the whole company is close to: А. 833,100 В. $22,900 C. $51,020 D. $48,676 A company that reduces the proportion of variable costs in its cost structure will: A. enjoys higher stability in profits. B. increase its profits more when the economy is good. C. have a loss more easily when the economy is bad. D. be indifferent. 5. 6. is normally recorded on any financial statement but irrelevant in decision making which is not. A. Sunk cost B. Incremental cost C. Differential…