Please do not give solution in image format thanku Single plantwide and multiple production department factory overhead rate methods and product cost distortionThe management of Nova Industries Inc. manufactures gasoline and diesel engines through two production departments, Fabrication and Assembly. Management needs accurate product cost information in order to guide productstrategy. Presently, the company uses a single plantwide factory overhead rate for allocating factory overhead to the two products. However, management is considering the multiple production department factory overhead ratemethod. The following factory overhead was budgeted for Nova:Fabrication Department factory overhead$440,000Assembly Department factory overhead200,000Total$640,000Direct labor hours were estimated as follows:Fabrication DepartmentAssembly DepartmentTotal4,000 hours4,0008,000 hoursIn addition, the direct labor hours (dih) used to produce a unit of each product in each department were determined from engineering records, as follows:Production DepartmentsDiesel EngineGasoline Engine6.0 dlhFabrication Department4.0 dlh4.0Assembly Department6.0Direct labor hours per unit10.0 dlh10.0 dlha. Determine the per-unit factory overhead allocated to the gasoline and diesel engines under the single plantwide factory overhead rate method, using direct labor hours as the activity base.Gasoline engine $X per unitDiesel engine $X per unitb. Determine the per-unit factory overhead allocated to the gasoline and diesel engines under the multiple production department factory overhead rate method, using direct labor hours as the activity base for each department.Gasoline engine $per unitDiesel engine $per unit

Single Plantwide Factory Overhead Rate Method Is Calculated By Using Estimated Total Overhead…

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Business

Accounting

Please do not give solution in image format thanku

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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