The following information is for questions 23-26. Company B produces two products. P1 and P2. at its pwo denartinents: Machining d Assenlily. The acnta tries to allocste overbeed costs to the two products. Machining Assetably Total Overhead $300,000 1.200 machine hours 150,000 600 lsbor hours $450,000 Total 2,000 machine huurs 1.300 labor hours P2 B00 machine hours 900 Inhor hours Ir the accountant decides to allocate overhead based on machine hours, what is P2's share of the total overhtad gusta a S180,000. b. $200,000. c. $220,000. d. $240,000 If the accountant decides to allocate averhead basod on labor hours, what la Ph share of tve tutal overhend costs SI80,000. b. S200,000. e $220,000. d. 5240,000. 8. If the accountant chooses machine hours for Machining and labor hours for Assmbly as allocation bases, whet is the overhead rate at Machining? a. $100 per labor hour. b. $140 per Inbor hour. C. $120 per machine hour. d. $150 per machine hour. 26. If the accountant chooses machine hours for Machining and labor hours for Assembly as allocation bases, what PI's share of the total overliead costs? a. $180,000. b. $240,000. c. $270,000. d. $300,000.

The following information is for questions 23-26. Company B produces two products. P1 and P2. at its pwo denartinents: Machining d Assenlily. The acnta tries to allocste overbeed costs to the two products. Machining Assetably Total Overhead $300,000 1.200 machine hours 150,000 600 lsbor hours $450,000 Total 2,000 machine huurs 1.300 labor hours P2 B00 machine hours 900 Inhor hours Ir the accountant decides to allocate overhead based on machine hours, what is P2's share of the total overhtad gusta a S180,000. b. $200,000. c. $220,000. d. $240,000 If the accountant decides to allocate averhead basod on labor hours, what la Ph share of tve tutal overhend costs SI80,000. b. S200,000. e $220,000. d. 5240,000. 8. If the accountant chooses machine hours for Machining and labor hours for Assmbly as allocation bases, whet is the overhead rate at Machining? a. $100 per labor hour. b. $140 per Inbor hour. C. $120 per machine hour. d. $150 per machine hour. 26. If the accountant chooses machine hours for Machining and labor hours for Assembly as allocation bases, what PI's share of the total overliead costs? a. $180,000. b. $240,000. c. $270,000. d. $300,000.

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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