ps//camdenccinstructure.com/courses/3788/assignmen LUTidwell Industries has the following overhead costs andcost drivers. Direct labor hours are estimated at 100000for the year.Cost DriverActivity Cost PoolOrdering and Receiving OrdersEst. Overhead$ 130000Machine SetupSetups306000MachiningMachine hours1537500AssemblyParts1220000Inspection310000InspectionsIf overhead is applied using traditional costing based ondirect labor hours, the overhead application rate isO $35.04.O $12.20.O $9.89.O $15.38.ip

Calculate total estimated overhead costs:

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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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Baja Industries has recently switched its method of applying manufacturing overhead from a single predetermined overhead rate based on direct labor hours to activity-based costing (ABC). Assume that the direct labor rate is $18.00 per hour and that there were no beginning inventories. The following cost drivers and rates have been developed for allocating manufacturing overhead costs: Activity Cost Driver Rate Material handling Number of parts used $ 2.00 per part Assembly and inspection Number of direct labor hours $25.00 per DLH Testing Number of units tested $ 5.00 per unitThe following production, costs, and activities occurred during the month of August: Direct…
Hilltop Manufacturing uses a predetermined manufacturing overhead rate based on machine hours to allocate manufacturing overhead to jobs. Selected data about the company's operations follows: Actual manufacturing overhead cost $500,000 Estimated manufacturing overhead cost $550,000 Estimated direct labor cost $175,800 Estimated direct labor hours 50,500 Actual direct labor hours 60,700 Estimated machine hours 40,600 Actual machine hours 35,800 By how much was manufacturing overhead overallocated or underallocated for the year? (Round intermediary calculations to the nearest cent.)
Academy allocates support dept costs to production departments befoe establishing predetermined overhead rates for use in product costing. Assembly uses machine hours as a base and expects to use 90,000 MH this year. Testing uses direct labor hours and expects to use 160,000 DLH this year. Academy allocates support dept. costs to Assembly and Testing before their pre-determined rate. Support costs are allocated to productive depts. based on time of service while IT costs are allocated based on IT hours. Dept EngSupport IT Assembly Testing Total Dept Overhead $ 2,000,000 $ 1,000,000 $ 3,000,000 $ 2,000,000 $ 8,000,000 Time of Service 40 50 700 450 1,240 IT Hours 1,000 2,000 9,000 11,000 23,000 A. Complete a cost allocation table using the step method.…
Blue Ridge 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. The following table presents information about estimated overhead and direct labor hours. Direct Product Overhead Labor Hours (dlh) B Painting Dept. $243,300 11,500 dlh 14 dlh 7 dlh Finishing Dept. 71,600 6,600 18 Totals $314,900 18,100 dlh 17 dlh 25 dlh The factory overhead allocated per unit of Product B in the Painting Department if Blue Ridge Marketing Inc. uses the multiple production department factory overhead rate method is Oa. S148.12 per unit Ob. $21.16 per unit Oc. S75.94 per unit Od. S121.78 per unit Previous Next Submit Test for Grading Reflector-3.2.1.dmg Show All Shot 202....png Canceled
A company has traditionally allocated its overhead based on machine hours but had collected this information to change to activity-based costing: Estimated Activity Activity Center Product 1 Product 2 Estimated Cost Machine Setups 15 45 $9,600 Assembly Parts 3,000 3,000 143,400 Packaging Pieces 500 400 54,450 Machine Hours per Unit 4 Production Volume 750 1,500 A. How much overhead would be allocated to each unit under the traditional allocation method? Round your answers to two decimal places. Product 1 Product 2 Allocation per unit $ $ B. How much overhead would be allocated to each unit under activity-based costing? Round your answers to two decimal places. Product 1 Product 2 Allocation per unit $ $4
AB Company uses activity based costing and gives you the following data regarding cost pools and estimated overhead cost for each pool. Machine related RO 250,000 Material handling RO 450,000 Purchase related RO 320,000 General factory RO 610,000 The amount of total estimated overhead is: a. RO 1630,000 b. RO 1020,000 c. RO 1380,000 d. RO 930,000
Blue Ridge 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. The following table presents information about estimated overhead and direct labor hours. Overhead DirectLabor Hours (dlh) Product A B Painting Dept. $374,640 11,200 dlh 16 dlh 2 dlh Finishing Dept. 100,440 8,100 7 17 Totals $475,080 19,300 dlh 23 dlh 19 dlh The overhead from both production departments allocated to each unit of Product A if Blue Ridge Marketing Inc. uses the multiple production department factory overhead rate method is a.$622.00 per unit b.$33.45 per unit c.$277.70 per unit d.$12.40 per unit
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Carlise Corp., which manufactures ceiling fans, currently has two product lines, the Indoor and the Outdoor. Carlise has to overhead of $132,720. Carlise has identified the following information about its overhead activity cost pools and the two product lines: Quantity/Amount Consumed by Indoor Line Quantity/Amount Consumed by Outdoor Line Activity Cost Pools Cost Driver Materials handling Number of moves Quality control Number of inspections Machine maintenance Number of machine hours Required: 1. Suppose Carlise used a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount.) Indoor Model Outdoor Model Total Cost Assigned to Pool $21, 120 $71,760 4,600 inspections $39,840 29,000 machine hours 19,000 machine hours 600 moves 500 moves 5,800 inspections Overhead Assigned
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Continuation: Using activity-based costing, applied factory overhead for the 700 laser printers order based on the number of invoices is calculated to be: * a. P7,800 b. P10,500 c. P150 d. P21,600
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