Solomons, Inc. makes widgets in two models: basic and elite. Solomons, Inc. estimated $865,000 of manufacturing overhead and 676,000 machine hours for the year. The basic model actually consumed 190,000 machine hours, the elite model consumed 486,000 machine hours. Compute the predetermined overhead allocation rate using machine hours (MHr) as the allocation base. How much overhead is allocated to the basic model? To the elite model? (Round your answers to two decimal places when needed and use rounded answers for all future calculations). Total estimated overhead cost ? Total estimated quantity of the overhead allocation base = Predetermined Overhead Allocation Rate (Per Machine Hour) =
Solomons, Inc. makes widgets in two models: basic and elite. Solomons, Inc. estimated $865,000 of manufacturing overhead and 676,000 machine hours for the year. The basic model actually consumed 190,000 machine hours, the elite model consumed 486,000 machine hours. Compute the predetermined overhead allocation rate using machine hours (MHr) as the allocation base. How much overhead is allocated to the basic model? To the elite model? (Round your answers to two decimal places when needed and use rounded answers for all future calculations). Total estimated overhead cost ? Total estimated quantity of the overhead allocation base = Predetermined Overhead Allocation Rate (Per Machine Hour) =
Chapter1: Financial Statements And Business Decisions
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Solomons, Inc. makes widgets in two models: basic and elite. Solomons, Inc. estimated $865,000 of manufacturing overhead and 676,000 machine hours for the year. The basic model actually consumed 190,000 machine hours, the elite model consumed 486,000 machine hours. Compute the predetermined overhead allocation rate using machine hours (MHr) as the allocation base. How much overhead is allocated to the basic model? To the elite model?
(Round your answers to two decimal places when needed and use rounded answers for all future calculations).
(Round your answers to two decimal places when needed and use rounded answers for all future calculations).
| Total estimated overhead cost | ? | Total estimated quantity of the overhead allocation base | = | Predetermined Overhead Allocation Rate (Per Machine Hour) |
|---|---|---|---|---|
| = |
| Model | Predetermined Overhead Allocation Rate | ? | Actual Quantity of the Allocation Base Used | = | Allocated |
|---|---|---|---|---|---|
| Basic Model | = | ||||
| Elite Model | = |
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