1,2,3 Answer Question 1-3 using the following data.A company has the following overhead costs and activities:EstimatedOverheadExpected ActivityProduct V Product W Product XActivities and Activity MeasuresMachine setups (setups)Processing customer orders (orders)Assembling products (assembly-hours) $9,178.00Cost$7,234.50$3,565.50691210209.21492697111If the company allocates overhead to products using assembly hours as the singleallocation base, how much overhead will be allocated to product X?A. $1,7061.В.$784C. $618D. $3042.How much overhead cost would be assigned to Product V using the activity-based costingsystem?A. $158B. $91,722C. $10,385D. $5,485After changing from the traditional costing system that uses assembly hours as the singleallocation base to activity-based costing, overhead costs assigned to Product W would be:A. increased by $5,803.B. increased by $4,194.C. decreased by $5,803.decreased by $4,194.3.D.MAR16

Answer 1) Calculation of overhead cost allocated to Product X using Predetermined overhead rate…

Overhead Expected Activity Product V Product W Product X Activities and Activity Measures Machine setups (setups) Processing customer orders (orders) Assembling products (assembly-hours) $9,178.00 Cost $7,234.50 $3,565.50 69 12 10 20 21 492 697 111 1. If the company allocates overhead to products using assemblu hourm

Overhead Expected Activity Product V Product W Product X Activities and Activity Measures Machine setups (setups) Processing customer orders (orders) Assembling products (assembly-hours) $9,178.00 Cost $7,234.50 $3,565.50 69 12 10 20 21 492 697 111 1. If the company allocates overhead to products using assemblu hourm

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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Concept explainers

Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.

Question

100%

1,2,3

Answer Question 1-3 using the following data.
A company has the following overhead costs and activities:
Estimated
Overhead
Expected Activity
Product V Product W Product X
Activities and Activity Measures
Machine setups (setups)
Processing customer orders (orders)
Assembling products (assembly-hours) $9,178.00
Cost
$7,234.50
$3,565.50
69
12
10
20
9.
21
492
697
111
If the company allocates overhead to products using assembly hours as the single
allocation base, how much overhead will be allocated to product X?
A. $1,706
1.
В.
$784
C. $618
D. $304
2.
How much overhead cost would be assigned to Product V using the activity-based costing
system?
A. $158
B. $91,722
C. $10,385
D. $5,485
After changing from the traditional costing system that uses assembly hours as the single
allocation base to activity-based costing, overhead costs assigned to Product W would be:
A. increased by $5,803.
B. increased by $4,194.
C. decreased by $5,803.
decreased by $4,194.
3.
D.
MAR
16

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