B7.Part A is correct, i need help with part B. The answer is not $241.50 for Standard and $469 for Ultra for part B Required informationHall, Incorporated manufactures two components, Standard and Ultra, that are designed for the same function, but aremade of different metals for operational performance reasons. The metal used in Standard is easy to work with and thereare few quality issues or reworking required on the machines. The metal used in Ultra is more difficult to work with andoften needs additional machine time and rework.Data on expected operations and direct costs for the next fiscal year follow:Units producedDirect labor-hours usedMachine-hours usedDirect materials costsDirect labor costsStandardAccountAdministrationEngineeringHachine operation and maintenance30,00090,00015,000MiscellaneousSupervisionTotal$2,250,0002,520,000UltralAmount$ 825,400992,500785,0007,50022,50022,500540,100884,5003,937,500$1,500,000855,000The planning process team at Hall, Incorporated has estimated the following manufacturing overhead costs for the nextfiscal year:TotalThe cost accounting system at Hall, Incorporated calculates product costs by adding allocated overhead to the directcosts of the product. Overhead costs are allocated based on direct labor-hours.37,500112,50037,500$ 3,750,0003,375,000 Required informationsuggests that overhead be first assigned to on one of two cost pools: Machine related and labor related. Machine-relatconsists of the accounts "Engineering" and "Machine operation and maintenance." Labor-related overhead consists of tremaining manufacturing overhead. Machine-related costs would be allocated based on machine-hours, Labor-relatedwould be allocated based on direct labor cost. Compute the estimated per unit product costs for the next fiscal year, basystem proposed by the analyst.Complete this question by entering your answers in the tabs below.Required A Required BCompute the estimated per unit product costs for the next fiscal year, based on the current cost accounting system.Product cost per unitRequired informationShow Transcribed TextStandardRequired A Required B$Product cost per unit264 SUltraComplete this question by entering your answers in the tabs below.Standard419An analyst on the planning process team suggests that a two-stage system would improve the estimated product costs. Theanalyst suggests that overhead be first assigned to on one of two cost pools: Machine related and labor related. Machine-related overhead consists of the accounts "Engineering" and "Machine operation and maintenance." Labor-related overheadconsists of the remaining manufacturing overhead. Machine-related costs would be allocated based on machine-hours. Labor-related overhead would be allocated based on direct labor cost. Compute the estimated per unit product costs for the nextfiscal year, based on the system proposed by the analyst. (Do not round your intermediate calculations. Round your finalanswers to 2 decimal places.)Ultra3Required B >

Activity rate :— It is the rate used to allocate manufacturing overhead to cost object under…

Required information Hall, Incorporated manufactures two components, Standard and Ultra, that are designed for the same function, but are made of different metals for operational performance reasons. The metal used in Standard is easy to work with and there are few quality issues or reworking required on the machines. The metal used in Ultra is more difficult to work with and often needs additional machine time and rework. Data on expected operations and direct costs for the next fiscal year follow: Units produced Direct labor-hours used Machine-hours used Direct materials costs Direct labor costs Account Standard Administration Engineering Hachine operation and maintenance 30,000 90,000 15,000 Miscellaneous Supervision Total Ultral $2,250,000 $1,500,000 2,520,000 855,000 7,500 22,500 22,500 The planning process team at Hall, Incorporated has estimated the following manufacturing overhead costs for the next fiscal year: Amount $825,400 902,500 785,000 The cost accounting system at Hall, Incorporated calculates product costs by adding allocated overhead to the direct costs of the product. Overhead costs are allocated based on direct labor-hours. 540,100 884,500 3,937,500 Total 37,500 112,500 37,500 $3,750,000 3,375,000

Required information Hall, Incorporated manufactures two components, Standard and Ultra, that are designed for the same function, but are made of different metals for operational performance reasons. The metal used in Standard is easy to work with and there are few quality issues or reworking required on the machines. The metal used in Ultra is more difficult to work with and often needs additional machine time and rework. Data on expected operations and direct costs for the next fiscal year follow: Units produced Direct labor-hours used Machine-hours used Direct materials costs Direct labor costs Account Standard Administration Engineering Hachine operation and maintenance 30,000 90,000 15,000 Miscellaneous Supervision Total Ultral $2,250,000 $1,500,000 2,520,000 855,000 7,500 22,500 22,500 The planning process team at Hall, Incorporated has estimated the following manufacturing overhead costs for the next fiscal year: Amount $825,400 902,500 785,000 The cost accounting system at Hall, Incorporated calculates product costs by adding allocated overhead to the direct costs of the product. Overhead costs are allocated based on direct labor-hours. 540,100 884,500 3,937,500 Total 37,500 112,500 37,500 $3,750,000 3,375,000

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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