The following table presents the activities and activity drivers that LampPlus uses in manufacturing Product 1 and Product 2. Comple the table: Activity Design Preparation Machining Finishing Inspection Packaging Shipping Cost Activity Driver $ 29,250 Design time $ 60,400 Labor hours $ 113,300 Machine hours Batches Units Orders $ 12,932 Packages Driver Usage Prod. 1 930 3,020 202 75 Prod. 2 1,320 hours hours 310 54 Activity Rate $ $ $ $ /hour /hour 22 /hour 48 /batch 7 /unit 302 /order /package Activity Cost:Prod. 1 $ 30,200 $ 33,440 $ $- Activity Cost:Prod. 2 4,900 $ 12,684 $ 8,050 4,982

The following table presents the activities and activity drivers that LampPlus uses in manufacturing Product 1 and Product 2. Comple the table: Activity Design Preparation Machining Finishing Inspection Packaging Shipping Cost Activity Driver $ 29,250 Design time $ 60,400 Labor hours $ 113,300 Machine hours Batches Units Orders $ 12,932 Packages Driver Usage Prod. 1 930 3,020 202 75 Prod. 2 1,320 hours hours 310 54 Activity Rate $ $ $ $ /hour /hour 22 /hour 48 /batch 7 /unit 302 /order /package Activity Cost:Prod. 1 $ 30,200 $ 33,440 $ $- Activity Cost:Prod. 2 4,900 $ 12,684 $ 8,050 4,982

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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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

The following table presents the activities and activity drivers that LampPlus uses in manufacturing Product 1 and Product 2. Complet
the table:
Activity
Design
Preparation
Machining
Finishing
Inspection
Packaging
Shipping
Cost
SA
Activity Driver
$ 29,250 Design time
$
60,400 Labor hours
$ 113,300 Machine hours
Batches
Units
Orders
$ 12,932 Packages
Driver Usage
Prod. 1
930
3,020
202
75
Prod. 2
1,320 hours
hours
310
54
Activity Rate
$
$
$
$
/hour
/hour
22 /hour
48 /batch
7 /unit
302 /order
/package
Activity
Activity
Cost:Prod. 1 Cost:Prod. 2
$
$
$
$
30,200
33,440
4,900 $
12,684
SA
$
8,050
4,982

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