Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can be traced to four separate activity pools. The budgeted activity cost and activity base data by product are provided below. Procurement Scheduling Materials handling Product development Production Activity Cost Activity Base $365,600 Number of purchase orders 245,100 Number of production orders 411,700 Number of moves 716,200 Number of engineering changes 1,470,000 Machine hours Number of Purchase Orders Number of Number Number of Production of Orders Moves Disk drives 4,090 1,310 Tape drives 2,100 620 Wire drives 11,600 4,200 The activity rate for the scheduling activity cost pool is Oa. $20.55 per production order Ob. $61.00 per production order Oc. $238.18 per production order Od. $159.67 per production order 370 175 990 Engineering Changes 10 7 27 Machine Hours 2,500 9,600 12,000 Number of Units 2,200 3,800 2,700

Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can be traced to four separate activity pools. The budgeted activity cost and activity base data by product are provided below. Procurement Scheduling Materials handling Product development Production Activity Cost Activity Base $365,600 Number of purchase orders 245,100 Number of production orders 411,700 Number of moves 716,200 Number of engineering changes 1,470,000 Machine hours Number of Purchase Orders Number of Number Number of Production of Orders Moves Disk drives 4,090 1,310 Tape drives 2,100 620 Wire drives 11,600 4,200 The activity rate for the scheduling activity cost pool is Oa. $20.55 per production order Ob. $61.00 per production order Oc. $238.18 per production order Od. $159.67 per production order 370 175 990 Engineering Changes 10 7 27 Machine Hours 2,500 9,600 12,000 Number of Units 2,200 3,800 2,700

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Description: Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can betraced to four separate activity pools. The budgeted activity cost and activity base data by pro

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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Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can be traced to four separate activity pools. The budgeted activity cost and activity base data by product are provided below. Activity Cost Activity Base Procurement $348,600 Number of purchase orders Scheduling 200,100 Number of production orders Materials handling 471,600 Number of moves Product development 741,200 Number of engineering changes Production 1,511,600 Machine hours Number of Number of Number Number of Number Purchase Production of Engineering Machine of Orders Orders Moves Changes Hours Units Disk drives 3,910 380 1,430 10 1,900 2,400 Tape drives 1,600 235 570 8,000 3,700 Wire drives 11,300 880 4,200 28 11,500 2,300 The activity rate for the procurement activity cost pool is Oa. $133.85 per purchase order Ob. $70.64 per purchase order Oc. S20.74 per purchase order Od. S233.18 per purchase order Previous Next Submit Test for…
Activity Rates and Product Costs using Activity-Based Costing Garfield Inc. manufactures entry and dining room lighting fixtures. Five activities are used in manufacturing the fixtures. These activities and their associated budgeted activity costs and activity bases are as follows: Activity BudgetedActivity Cost Activity Base Casting $560,000 Machine hours Assembly 75,000 Direct labor hours Inspecting 30,000 Number of inspections Setup 18,750 Number of setups Materials handling 14,000 Number of loads Corporate records were obtained to estimate the amount of activity to be used by the two products. The estimated activity-base usage quantities and units produced follow: Activity Base Entry Dining Total Machine hours 7,500 12,500 20,000 Direct labor hours 2,000 3,000 5,000 Number of inspections 500 250 750 Number of setups 150 100 250 Number of loads 400 300 700 Units produced 5,000 2,500 7,500 a.…
Dawson Company manufactures small table lamps and desk lamps. The following shows the activities per product and the total overhead information: Units Setups Inspections Assembly (dlh) 3,400 3,600 8,800 7,200 Small table lamps Desk lamps 8,400 14,000 43,200 43,200 Total Activity-Base Usage Budgeted Activity Cost 10,800 $109,080 22,400 114,240 75,600 340,200 Activity Setups Inspections Assembly (dlh) The total factory overhead (rounded to the nearest cent) to be allocated to each unit of small table lamps is O a. $80.47 O b. $136.80 O c. $48.28 O d. $104.61
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Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can be traced to four separate activity pools. The budgeted activity cost and activity base data by product are provided below. Activity Cost Activity Base Procurement $364,200 Number of purchase orders Scheduling 243,400 Number of production orders Materials handling 417,300 Number of moves Product development 773,900 Number of engineering changes Production 1,428,300 Machine hours Number of Number of Number Number of Number Purchase Production of Engineering Machine of Orders Orders Moves Changes Hours Units Disk drives 4,120 270 1,500 11 2,200 2,100 Tape drives 2,400 245 500 7 8,500 3,500 Wire drives 11,500 790 3,500 21 10,700 2,400 The activity-based cost for each tape drive unit is Oa. $291.69 Ob. $239.52 Oc. $740.06 Od. $20.21
A manufacturer uses activity-based costing to assign overhead cost to products. Budgeted cost information for its activities follows. Budgeted Cost $ 210,600 Activity Cost Driver Purchase orders Square feet Budgeted Activity Usage 5,400 purchase orders 5,900 square feet 50 Setups Factory services 104,250 Setup 67,750 Setups Compute an activity rate for each activity. (Round your answers to 2 decimal places.) Activity Purchasing Activity Purchasing Factory services Setup Budgeted Cost 210,600 104,250 67,750 $ $ $ Budgeted Activity Usage Activity Rate
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Garfield Inc. manufactures entry and dining room lighting fixtures. Five activities are used in manufacturing the fixtures. These activities and their associated budgeted activity costs and activity bases are as follows: Budgeted Activity Activity Cost Activity Base Casting $99,820 Machine hours Assembly 58,900 Direct labor hours Inspecting 21,252 Number of inspections Setup 33,221 Number of setups Materials handling 34,830 Number of loads Corporate records were obtained to estimate the amount of activity to be used by the two products. The estimated activity-base usage quantities and units produced follow: Activity Base Entry Dining Total Machine hours 2,101 1,119 3,220 Direct labor hours 791 2,309 3,100 Number of inspections 724 288 1,012 Number of setups 175 64 239 Number of loads 544 230 774 Units produced 6,569 1,747 8,316
Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can be traced to four separate activity pools. The budgeted activity cost and activity base data by product are provided below. Activity Cost Activity Base Procurement $302,300 Number of purchase orders Scheduling $220,600 Number of production orders Materials handling $416,500 Number of moves Product development $755,400 Number of engineering changes Production $1,551,600 Machine hours Number ofPurchaseOrders Number ofProductionOrders NumberofMoves Number ofEngineeringChanges MachineHours NumberofUnits Disk drives 4,160 380 1,320 11 1,900 1,600 Tape drives 2,500 155 770 6 9,900 4,000 Wire drives 12,700 770 3,900 23 10,400 2,700 Determine the activity rate per production order for…
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The management of Winterroth Corporation would like to investigate the possibility of basing its predetermined overhead rate on activity at capacity. The Corporation's controller has provided an example to illustrate how this new system would work. In this example, the allocation base is machine-hours. Estimated at the Beginning of the Year Сapacity Actual Machine-hours 60,000 $1,849,400 70,000 56,000 Manufacturing overhead $1,849,400 $1,849,400 If the Corporation bases its predetermined overhead rate on capacity, then as shown on the income statement prepared for internal management purposes, the cost of unused capacity would be closest to: Multiple Choice $264,200 $369,880 $186,000 $123,293