Techno Incorporated manufactures two models of cameras that can be used as cell phones, MPX, and digital camcorders.ModelHigh FGreat PAnnual Sales in Units10,80016,800Techno uses a volume-based costing system to apply factory overhead based on direct labor dollars. The unit prime costs of each product were as follows:Direct materialsDirect laborHigh Fi$ 38.80$18.40Budget factory overhead:Engineering and DesignQuality ControlMachineryMiscellaneous OverheadTotalGreat P$ 26.20$14.00Engineering and design hoursQuality control inspection hoursMachine hoursLabor hours2,560 engineering hours.12,990inspection hours33,87026,550machine hoursdirect labor hoursTechno's controller had been researching activity-based costing and decided to switch to it. A special study determined Techno's two products have the followingbudgeted activities:High F1,0405,72020,36012,080.Great P1,5207,270$ 409,600271,320540,800132,400$ 1,354,12013,51014,470What is the overhead application rate using the firm's volume-based costing system? (Rounded to the nearest percent or cents.) 312 percent of direct labor cost.$51.79 per direct labor-hour.70.5 percent of direct labor cost5,179 percent of direct labor cost5,100 percent of direct labor cost

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Description: Techno Incorporated manufactures two models of cameras that can be used as cell phones, MPX, and digital camcorders.ModelHigh FGreat PAnnual Sales in Units10,80016,800Techno uses a volume-based costing system to apply factory overhead based on direc

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Techno Incorporated manufactures two models of cameras that can be used as cell phones, MPX Model Annual Sales in Units High F 10,800 16,800 Great P Techno uses a volume-based costing system to apply factory overhead based on direct labor dollars. The unit prime costs of each product were as follows: High F Great P $ 26.20 $ 38.80 $18.40 $ 14.00 Direct materials Direct labor Budget factory overhead: Engineering and Design 2,560 12,990 33,870 26,550 Engineering and design hours Quality control inspection hours Machine hours Labor hours engineering hours inspection hours Quality Control Machinery Miscellaneous Overhead Total Techno's controller had been researching activity-based costing and decided to switch to it. A special study determined Techno's two products have the following budgeted activities: machine hours direct labor hours High F 1,040 5,720 20,360 12,080 Great P 1,520 7,270 $ 409,600 271,320 540,800 132,400 $ 1,354,120 13,510 14,470 What is the overhead application rate using the firm's volume-based costing system? (Rounded to the nearest percent or cents.)

Techno Incorporated manufactures two models of cameras that can be used as cell phones, MPX Model Annual Sales in Units High F 10,800 16,800 Great P Techno uses a volume-based costing system to apply factory overhead based on direct labor dollars. The unit prime costs of each product were as follows: High F Great P $ 26.20 $ 38.80 $18.40 $ 14.00 Direct materials Direct labor Budget factory overhead: Engineering and Design 2,560 12,990 33,870 26,550 Engineering and design hours Quality control inspection hours Machine hours Labor hours engineering hours inspection hours Quality Control Machinery Miscellaneous Overhead Total Techno's controller had been researching activity-based costing and decided to switch to it. A special study determined Techno's two products have the following budgeted activities: machine hours direct labor hours High F 1,040 5,720 20,360 12,080 Great P 1,520 7,270 $ 409,600 271,320 540,800 132,400 $ 1,354,120 13,510 14,470 What is the overhead application rate using the firm's volume-based costing system? (Rounded to the nearest percent or cents.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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