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Required information Foundational (Algo) [LO4-1, LO4-2, LO4-3, LO4-4] Greenwood Company manufactures two products-15,000 units of Product Y and 7,000 units of P uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an act (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following add available for the company as a whole and for Products Y and Z

Required information Foundational (Algo) [LO4-1, LO4-2, LO4-3, LO4-4] Greenwood Company manufactures two products-15,000 units of Product Y and 7,000 units of P uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an act (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following add available for the company as a whole and for Products Y and Z

FINANCIAL ACCOUNTING
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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Required information Foundational (Algo) [LO4-1, LO4-2, LO4-3, LO4-4] Greenwood Company manufactures two products-15,000 units of Product Y and 7,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z Activity Cost Pool- Machining Machine setups Production design General factory Activity Measure Machining Number of setups Number of products Direct labor-hours Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Product Y 8,700 60 1 8,700 Estimated Overhead Cost $ 227,700 $ 153,900 Product Z 2,300 210 1 1,300 $ 91,000 $ 257,000 Expected Activity 11,000 MHS 270 setups 2 products 10,000 DLHS 4
Transcribed Image Text:Required information Foundational (Algo) [LO4-1, LO4-2, LO4-3, LO4-4] Greenwood Company manufactures two products-15,000 units of Product Y and 7,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z Activity Cost Pool- Machining Machine setups Production design General factory Activity Measure Machining Number of setups Number of products Direct labor-hours Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Product Y 8,700 60 1 8,700 Estimated Overhead Cost $ 227,700 $ 153,900 Product Z 2,300 210 1 1,300 $ 91,000 $ 257,000 Expected Activity 11,000 MHS 270 setups 2 products 10,000 DLHS 4
Activity Measure Machining Number of setups Number of products Direct labor-hours Product Y 8,700 60 1 8,700 Manufacturing overhead allocated Product Z. 2,300 210 1 1,300 Foundational 4-2 (Algo) 2. Using the plantwide overhead rate, how much manufacturing overhead cost is allocated to Product Y and Product Z? (Round your intermediate calculations to 2 decimal places. Round your answers to the nearest dollar amount.) Product Y Product Z
Transcribed Image Text:Activity Measure Machining Number of setups Number of products Direct labor-hours Product Y 8,700 60 1 8,700 Manufacturing overhead allocated Product Z. 2,300 210 1 1,300 Foundational 4-2 (Algo) 2. Using the plantwide overhead rate, how much manufacturing overhead cost is allocated to Product Y and Product Z? (Round your intermediate calculations to 2 decimal places. Round your answers to the nearest dollar amount.) Product Y Product Z
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