[The following information applies to the questions displayed below.] Hickory Company manufactures two products-13,000 units of Product Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labour-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Machining Machine setups Product design General factory Activity Measure Machine-hours Number of setups Number of products Direct labour-hours Required: What is activity rate for the Activity rate Activity Measure Machine-hours Number of setups Number of products Direct labour-hours per DLH Product Y 7,800 40 1 8,800 Estimated Overhead Cost $249,600 $162,400 $ 92,000 $309,600 Product Z 4,200 240 1 5,600 Expected Activity 12,000 MH 280 setups 2 products 14,400 DLHS eral Factory activity cost pool? (Round your answer to 2 decimal places.)

[The following information applies to the questions displayed below.] Hickory Company manufactures two products-13,000 units of Product Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labour-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Machining Machine setups Product design General factory Activity Measure Machine-hours Number of setups Number of products Direct labour-hours Required: What is activity rate for the Activity rate Activity Measure Machine-hours Number of setups Number of products Direct labour-hours per DLH Product Y 7,800 40 1 8,800 Estimated Overhead Cost $249,600 $162,400 $ 92,000 $309,600 Product Z 4,200 240 1 5,600 Expected Activity 12,000 MH 280 setups 2 products 14,400 DLHS eral Factory activity cost pool? (Round your answer to 2 decimal places.)

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Description: !Required information[The following information applies to the questions displayed below.]Hickory Company manufactures two products-13,000 units of Product Y and 5,000 units of Product Z. The companyuses a plantwide overhead rate based on direct lab

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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Required information Greenwood Company manufactures two products-15,000 units of Product Y and 7,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Activity Cost Pool Machining Machine setups Production design General factory Activity Measure Machining Number of setups Number of products Direct labor-hours Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Estimated Overhead Cost $ 227,700 $ 153,908 Product Y Product Z 8,700 60 1 8,700 2,300 210 1 1,300 Expected Activity 11,000 MHS 270 setups $ 91,000. $ 257,000 2 products 10,000 DLHS 14. Using the ABC system, what percentage of the Product Design cost is assigned to Product Y and Product Z? (Round your answers to 2…
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Hickory Company manufactures two products—13,000 units of Product Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all $829,500 of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Activity Cost Pool Activity Measure Estimated Overhead Cost Expected Activity Machining Machine-hours $ 246,000 12,000 MHs Machine setups Number of setups $ 137,500 250 setups Product design Number of products $ 89,000 2 products General factory Direct labor-hours $ 357,000 14,400 DLHs Activity Measure Product Y Product Z Machine-hours 7,500 4,500 Number of setups 40 210 Number of products 1 1 Direct labor-hours 8,500 5,900 Foundational 7-12 (Algo) 12. Using the ABC system, what percentage of the Machining costs is assigned to Product…
Qriole Inc. manufactures two products: car wheels and truck wheels. To determine the amount of overhead to assign to each product line, the controller, William Brown, has developed the following information: Estimated wheels produced Direct labour hours per wheel Car Car wheels $ Truck 45,000 11,000 4 Total estimated overhead costs for the two product lines are $1,340,000. Calculate the overhead cost assigned to the car wheels and truck wheels, assuming that direct labour hours are used to allocate overhead costs. 8 180,000
Rundle Company produces commercial gardening equipment. Since production is highly automated, the company allocates its overhead costs to product lines using activity-based costing. The costs and cost drivers associated with the four overhead activity co pools follow: Cost Cost driver Req A and B Unit Level $ 25,200 Req C a. Allocated cost b. Allocated cost Production of 880 sets of cutting shears, one of the company's 20 products, took 130 labor hours and 10 setups and consumed 15 percent of the product-sustaining activities. Required 8. Had the company used labor hours as a companywide allocation base, how much overhead would it have allocated to the cutting shears? Complete this question by entering your answers in the tabs below. 1,200 labor hours b. How much overhead is allocated to the cutting shears using activity-based costing? c. Compute the overhead cost per unit for cutting shears first using activity-based costing and then using direct labor hours for allocation if 880…
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Required information [The following information applies to the questions displayed below.] Hickory Company manufactures two products-13,000 units of Product Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all $829,500 of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Activity Cost Pool Machining Machine setups Product design Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Estimated Overhead Cost $ 246,000 Expected Activity 12,000 MHS $ 89,000 $ 357,000 14,400 250 setups 2 products DLHS $ 137,500 General factory Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Product Y Product Z 7,500 40 1 8,500 4,500 210 1 5,900 2. Using the plantwide overhead rate, how much manufacturing…
Assume a company manufactures only two products—14,000 units of Product C and 6,000 units of Product D. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to three cost pools. The following additional information is available for the company as a whole and for Products C and D: Activity Cost Pool Activity Measure Estimated Overhead Cost Expected Activity Machining Machine-hours $ 300,000 15,000 MH Machine setups Number of setups $ 150,000 200 Setups Product design Number of products $ 78,000 2 Products Activity Measure Product C Product D Machine-hours 9,000 6,000 Number of setups 50 150 Number of products 1 1 Using the ABC system, how much overhead cost would be assigned from the Machine Setups cost pool to Product D? Multiple Choice $115,200 $112,500 $122,500 $102,500
Requlred Informatlon Greenwood Company manufactures two products-13,000 units of Product Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Estimated Overhead Activity Cost Pool Machining Machine setups Production design General factory Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Expected Activity 12, 000 МHs 220 setups 2 products 12,000 DLHS Cost $ 242,400 $ 114,400 $ 86,000 $ 302,400 Activity Measure! Machining Number of setups Number of products Direct labor-hours, Product Y 8,200 40 1. 8,200 Product Z 3,800 180 3,800 3. What is the activity rate for the Machining activity cost pool? (Round your answer to2 declmal places.) Activity rate per MH 15…