The part on the right cut off says this:Extra Virgin108,000 hours80,000 bottles Please answer all questions. Thank you! Rosehut Olive Oil Company makes two grades of olive oil: standard and extra virgin. Rosehut has identified two activity cost pools, therelated costs per pool, the cost driver for each pool, and the expected usage for each pool.TotalActivityActivityCostCost DriverStandardExtra VWashing, Pressing & Filtering (WPF)Bottling$1,736,000 Washing, Pressing, and Filtering hours$ 840,00047,000 hours320,000 bottles108,00080,000Number of bottlesAdditional information about each grade of olive oil is as follows:DirectMaterialsDirectSalesLaborGradeRevenueCostsCosts$5,150, 000$2,600,000$900,000$600,000$375,000$150, 000StandardExtra VirginRequired:1. Calculate the activity rate for each cost pool.2. Using the activity rates, determine the total amount of overhead assigned to each product.3. Determine total manufacturing cost for each product. Required:1. Calculate the activity rate for each cost pool.2. Using the activity rates, determine the total amount of overhead assigned to each product.3. Determine total manufacturing cost for each product.4. Calculate the gross profit for each product.Complete this question by entering your answers in the tabs below.Required 1Required 2Required 3Required 4Calculate the activity rate for each cost pool. (Round your answers to 2 decimal places.)ActivityCost PoolWashing, Pressing & Filtering (WPF)per hourBottlingper bottle< Required 1Required 2 >

Rosehut Olive Oil Company makes two grades of olive oil: standard and extra virgin. Rosehut has identified two activity cost pools, the related costs per pool, the cost driver for each pool, and the expected usage for each pool. Total Activity Activity Cost Cost Driver Standard Extra V Washing, Pressing & Filtering (WPF) Bottling $1,736,e00 Washing, Pressing, and Filtering hours $ 840,000 47,000 hours 320,000 bottles 108,000 Number of bottles 80,000 Additional information about each grade of olive oil is as follows: Direct Direct Sales Materials Labor Costs Grade Standard Extra Virgin Revenue Costs $5,150,000 $2,600,000 $900,000 $600,000 $375,000 $150,000 Required: 1. Calculate the activity rate for each cost pool. 2. Using the activity rates, determine the total amount of overhead assigned to each product. 3. Determine total manufacturing cost for each product.

Rosehut Olive Oil Company makes two grades of olive oil: standard and extra virgin. Rosehut has identified two activity cost pools, the related costs per pool, the cost driver for each pool, and the expected usage for each pool. Total Activity Activity Cost Cost Driver Standard Extra V Washing, Pressing & Filtering (WPF) Bottling $1,736,e00 Washing, Pressing, and Filtering hours $ 840,000 47,000 hours 320,000 bottles 108,000 Number of bottles 80,000 Additional information about each grade of olive oil is as follows: Direct Direct Sales Materials Labor Costs Grade Standard Extra Virgin Revenue Costs $5,150,000 $2,600,000 $900,000 $600,000 $375,000 $150,000 Required: 1. Calculate the activity rate for each cost pool. 2. Using the activity rates, determine the total amount of overhead assigned to each product. 3. Determine total manufacturing cost for each product.

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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