Required information M4-10 to M4-12 Lakeside Incorporated manufactures four lines of remote control boats and uses activity-based costing to calculate product cost. Activity Pools Machining Setup Quality control M4-11 (Algo) Assigning Costs Using Activity Rates [LO 4-4] Cost Pool Estimated Total Cost $ 620,000 99,470 154,160 Required: Suppose the Speedy boat requires 2,780 machine hours, 100 batches, and 300 inspections. Using the activity rates, determine the amount of overhead assigned to the Speedy product line. Note: Do not round your intermediate calculations and round your final answers to the nearest dollar amount. Machining Setup Quality Control Total Overhead Allocated Overhead $ Estimated Cost Driver 20,000 machine hours 490 batches 940 inspections 0

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question

Meman 

Required information
M4-10 to M4-12
Lakeside Incorporated manufactures four lines of remote control boats and uses activity-based costing to calculate
product cost.
Activity Pools
Machining
Setup
Quality control
Estimated
Total Cost
$ 620,000
99,470
154,160
M4-11 (Algo) Assigning Costs Using Activity Rates [LO 4-4]
Cost Pool
Machining
Setup
Quality Control
Total Overhead
Required:
Suppose the Speedy boat requires 2,780 machine hours, 100 batches, and 300 inspections. Using the activity rates, determine the
amount of overhead assigned to the Speedy product line.
Note: Do not round your intermediate calculations and round your final answers to the nearest dollar amount.
Allocated Overhead
$
Estimated Cost Driver
20,000 machine hours
490 batches
940 inspections
0
Transcribed Image Text:Required information M4-10 to M4-12 Lakeside Incorporated manufactures four lines of remote control boats and uses activity-based costing to calculate product cost. Activity Pools Machining Setup Quality control Estimated Total Cost $ 620,000 99,470 154,160 M4-11 (Algo) Assigning Costs Using Activity Rates [LO 4-4] Cost Pool Machining Setup Quality Control Total Overhead Required: Suppose the Speedy boat requires 2,780 machine hours, 100 batches, and 300 inspections. Using the activity rates, determine the amount of overhead assigned to the Speedy product line. Note: Do not round your intermediate calculations and round your final answers to the nearest dollar amount. Allocated Overhead $ Estimated Cost Driver 20,000 machine hours 490 batches 940 inspections 0
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Costing Systems
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education