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Scrumptious Snacks Inc. manufactures three types of snack foods: tortilla chips, potato c and pretzels. The company has budgeted the following costs for the upcoming period: Factory depreciation Indirect labor Factory electricity Indirect materials Selling expenses Administrative expenses Total costs Factory overhead is allocated to the three products on the basis of processing hours. The products had the following production budget and processing hours per case: Tortilla chips Potato chips Pretzels Total Tortilla chips Potato chips Budgeted Volume Pretzels (Cases) Total 2,400 7,200 3,600 13,200 If required, round all per-case answers to the nearest cent. a. Determine the single plantwide factory overhead rate. $ per processing hour b. Use the overhead rate in (a) to determine the amount of total and per-case overheac allocated to each of the three products under generally accepted accounting principles. $22,566 55,924 6,377 13,245 31,396 17,660 $147,168 Total Processing Hours Per Case Factory Overhead 0.10 0.15 0.12 Per-Case Factory Overhead

Scrumptious Snacks Inc. manufactures three types of snack foods: tortilla chips, potato c and pretzels. The company has budgeted the following costs for the upcoming period: Factory depreciation Indirect labor Factory electricity Indirect materials Selling expenses Administrative expenses Total costs Factory overhead is allocated to the three products on the basis of processing hours. The products had the following production budget and processing hours per case: Tortilla chips Potato chips Pretzels Total Tortilla chips Potato chips Budgeted Volume Pretzels (Cases) Total 2,400 7,200 3,600 13,200 If required, round all per-case answers to the nearest cent. a. Determine the single plantwide factory overhead rate. $ per processing hour b. Use the overhead rate in (a) to determine the amount of total and per-case overheac allocated to each of the three products under generally accepted accounting principles. $22,566 55,924 6,377 13,245 31,396 17,660 $147,168 Total Processing Hours Per Case Factory Overhead 0.10 0.15 0.12 Per-Case Factory Overhead

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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Single Plantwide Factory Overhead Rate Scrumptious Snacks Inc. manufactures three types of snack foods: tortilla chips, potato chips. and pretzels. The company has budgeted the following costs for the upcoming period: $22,566 55,924 6,377 13,245 31,396 17,660 $147,168 Factory depreciation Indirect labor Factory electricity Indirect materials Selling expenses Administrative expenses Total costs Factory overhead is allocated to the three products on the basis of processing hours. The products had the following production budget and processing hours per case: Budgeted Volume (Cases) Tortilla chips Potato chips Pretzels Total Tortilla chips Potato chips Pretzels 2,400 7,200 3,600 13,200 If required, round all per-case answers to the nearest cent. a. Determine the single plantwide factory overhead rate. per processing hour Total b. Use the overhead rate in (a) to determine the amount of total and per-case overhead allocated to each of the three products under generally accepted accounting principles. $ Processing Hours Per Case Total Factory Overhead 0.10 0.15 0.12 Per-Case Factory Overhead
Transcribed Image Text:Single Plantwide Factory Overhead Rate Scrumptious Snacks Inc. manufactures three types of snack foods: tortilla chips, potato chips. and pretzels. The company has budgeted the following costs for the upcoming period: $22,566 55,924 6,377 13,245 31,396 17,660 $147,168 Factory depreciation Indirect labor Factory electricity Indirect materials Selling expenses Administrative expenses Total costs Factory overhead is allocated to the three products on the basis of processing hours. The products had the following production budget and processing hours per case: Budgeted Volume (Cases) Tortilla chips Potato chips Pretzels Total Tortilla chips Potato chips Pretzels 2,400 7,200 3,600 13,200 If required, round all per-case answers to the nearest cent. a. Determine the single plantwide factory overhead rate. per processing hour Total b. Use the overhead rate in (a) to determine the amount of total and per-case overhead allocated to each of the three products under generally accepted accounting principles. $ Processing Hours Per Case Total Factory Overhead 0.10 0.15 0.12 Per-Case Factory Overhead
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