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Single plantwide factory overhead rate Gwinnett County Chrome Company manufactures three chrome-plated products-automobile bumpers, valve covers, and wheels. These products are manufactured in two production departments (Stamping and Plating). The factory overhead for Gwinnett County Chrome is $239,200. The three products consume both machine hours and direct labor hours in the two production departments as follows: Stamping Department Automobile bumpers Valve covers Wheels Plating Department. Plating Department Valve covers Wheels Total Direct Labor Hours 590 310 350 1,250 195 200 195 590 1,840 Machine Hours 810 570 620 2,000 1,150 700 750 2,600 4,600 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours.

Single plantwide factory overhead rate Gwinnett County Chrome Company manufactures three chrome-plated products-automobile bumpers, valve covers, and wheels. These products are manufactured in two production departments (Stamping and Plating). The factory overhead for Gwinnett County Chrome is $239,200. The three products consume both machine hours and direct labor hours in the two production departments as follows: Stamping Department Automobile bumpers Valve covers Wheels Plating Department. Plating Department Valve covers Wheels Total Direct Labor Hours 590 310 350 1,250 195 200 195 590 1,840 Machine Hours 810 570 620 2,000 1,150 700 750 2,600 4,600 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Single plantwide factory overhead rate Gwinnett County Chrome Company manufactures three chrome-plated products-automobile bumpers, valve covers, and wheels. These products are manufactured in two production departments (Stamping and Plating). The factory overhead for Gwinnett County Chrome is $239,200. The three products consume both machine hours and direct labor hours in the two production departments as follows: Stamping Department Automobile bumpers Valve covers Wheels Plating Department. Plating Department Valve covers Wheels Total Direct Labor Hours 590 310 350 1,250 195 200 195 590 1,840 Machine Hours 810 570 620 2,000 1,150 700 750 2,600 4,600 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours.
Transcribed Image Text:Single plantwide factory overhead rate Gwinnett County Chrome Company manufactures three chrome-plated products-automobile bumpers, valve covers, and wheels. These products are manufactured in two production departments (Stamping and Plating). The factory overhead for Gwinnett County Chrome is $239,200. The three products consume both machine hours and direct labor hours in the two production departments as follows: Stamping Department Automobile bumpers Valve covers Wheels Plating Department. Plating Department Valve covers Wheels Total Direct Labor Hours 590 310 350 1,250 195 200 195 590 1,840 Machine Hours 810 570 620 2,000 1,150 700 750 2,600 4,600 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours.
Automobire bompers Valve covers Wheels Plating Department Plating Department Valve covers Wheels Total 590 310 350 1,250 Direct labor hours Machine hours 195 200 195 590 1,840 DIU 570 Automobile Bumpers 620 2,000 1,150 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours. Direct labor hour overhead rate per direct labor hour per machine hour Machine hour overhead rate: 700 750 2,600 4,600 2. Determine the product factory overhead costs, using (a) the direct labor hour plantwide factory overhead rate and (b) the machine hour plantwide factory overhead rate. Valve Covers Wheels
Transcribed Image Text:Automobire bompers Valve covers Wheels Plating Department Plating Department Valve covers Wheels Total 590 310 350 1,250 Direct labor hours Machine hours 195 200 195 590 1,840 DIU 570 Automobile Bumpers 620 2,000 1,150 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours. Direct labor hour overhead rate per direct labor hour per machine hour Machine hour overhead rate: 700 750 2,600 4,600 2. Determine the product factory overhead costs, using (a) the direct labor hour plantwide factory overhead rate and (b) the machine hour plantwide factory overhead rate. Valve Covers Wheels
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