This is complete 1 question please answer complete question otherwise skip it please answer within the format by providing formula the detailed working Please provide answer in text (Without image) Please provide answer in text (Without image) Please provide answer in text (Without image) Single Plantwide Factory Overhead Rate Gwinnett County Chrome Company manufactures three chrome-plated products—automobile bumpers, valve covers, and wheels. These products are manufactured in two production departments (Stamping and Plating). The factory overhead for Gwinnett County Chrome is $239,200. The three products consume both machine hours and direct labor hours in the two production departments as follows: Direct Labor Hours Machine Hours Stamping Department Automobile bumpers 590 810 Valve covers 310 570 Wheels 350 620 1,250 2,000 Plating Department Automobile bumpers 195 1,150 Valve covers 200 700 Wheels 195 750 590 2,600 Total 1,840 4,600 Required: 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours. Direct labor hour overhead rate $fill in the blank 1 per direct labor hour Machine hour overhead rate $fill in the blank 2 per machine hour 2. Determine the product factory overhead costs, using (a) the direct labor hour plantwide factory overhead rate and (b) the machine hour plantwide factory overhead rate. Automobile Bumpers Valve Covers Wheels Direct labor hours $fill in the blank 3 $fill in the blank 4 $fill in the blank 5 Machine hours $fill in the blank 6 $fill in the blank 7 $fill in the blank 8 Multiple Production Department Factory Overhead Rates Gwinnett County Chrome Company manufactures three chrome-plated products—automobile bumpers,valve covers, and wheels. These products are manufactured in two production departments (Stamping and Plating). The factory overhead for Gwinnett County Chrome is $239,200. The three products consume both machine hours and direct labor hours in the two production departments as follows: Direct Labor Hours Machine Hours Stamping Department Automobile bumpers 590 810 Valve covers 310 570 Wheels 350 620 1,250 2,000 Plating Department Automobile bumpers 195 1,150 Valve covers 200 700 Wheels 195 750 590 2,600 Total 1,840 4,600 The management of Gwinnett County Chrome Company now plans to use the multiple production department factory overhead rate method. The total factory overhead associated with each department is as follows: Stamping Department $120,000 Plating Department 104,000 Total $224,000 Required: 1. Determine the multiple production department factory overhead rates, using direct labor hours for the Stamping Department and machine hours for the Plating Department. Stamping Department $fill in the blank 1 per direct labor hour Plating Department $fill in the blank 2 per machine hour 2. Determine the product factory overhead costs, using the multiple production department rates in (1). Automobile bumpers Valve covers Wheels Stamping Department $fill in the blank 3 $fill in the blank 4 $fill in the blank 5 Plating Department fill in the blank 6 fill in the blank 7 fill in the blank 8 Total factory overhead $fill in the blank 9 $fill in the blank 10 $fill in the blank 11

This is complete 1 question please answer complete question otherwise skip it please answer within the format by providing formula the detailed working Please provide answer in text (Without image) Please provide answer in text (Without image) Please provide answer in text (Without image) Single Plantwide Factory Overhead Rate Gwinnett County Chrome Company manufactures three chrome-plated products—automobile bumpers, valve covers, and wheels. These products are manufactured in two production departments (Stamping and Plating). The factory overhead for Gwinnett County Chrome is $239,200. The three products consume both machine hours and direct labor hours in the two production departments as follows: Direct Labor Hours Machine Hours Stamping Department Automobile bumpers 590 810 Valve covers 310 570 Wheels 350 620 1,250 2,000 Plating Department Automobile bumpers 195 1,150 Valve covers 200 700 Wheels 195 750 590 2,600 Total 1,840 4,600 Required: 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours. Direct labor hour overhead rate $fill in the blank 1 per direct labor hour Machine hour overhead rate $fill in the blank 2 per machine hour 2. Determine the product factory overhead costs, using (a) the direct labor hour plantwide factory overhead rate and (b) the machine hour plantwide factory overhead rate. Automobile Bumpers Valve Covers Wheels Direct labor hours $fill in the blank 3 $fill in the blank 4 $fill in the blank 5 Machine hours $fill in the blank 6 $fill in the blank 7 $fill in the blank 8 Multiple Production Department Factory Overhead Rates Gwinnett County Chrome Company manufactures three chrome-plated products—automobile bumpers,valve covers, and wheels. These products are manufactured in two production departments (Stamping and Plating). The factory overhead for Gwinnett County Chrome is $239,200. The three products consume both machine hours and direct labor hours in the two production departments as follows: Direct Labor Hours Machine Hours Stamping Department Automobile bumpers 590 810 Valve covers 310 570 Wheels 350 620 1,250 2,000 Plating Department Automobile bumpers 195 1,150 Valve covers 200 700 Wheels 195 750 590 2,600 Total 1,840 4,600 The management of Gwinnett County Chrome Company now plans to use the multiple production department factory overhead rate method. The total factory overhead associated with each department is as follows: Stamping Department $120,000 Plating Department 104,000 Total $224,000 Required: 1. Determine the multiple production department factory overhead rates, using direct labor hours for the Stamping Department and machine hours for the Plating Department. Stamping Department $fill in the blank 1 per direct labor hour Plating Department $fill in the blank 2 per machine hour 2. Determine the product factory overhead costs, using the multiple production department rates in (1). Automobile bumpers Valve covers Wheels Stamping Department $fill in the blank 3 $fill in the blank 4 $fill in the blank 5 Plating Department fill in the blank 6 fill in the blank 7 fill in the blank 8 Total factory overhead $fill in the blank 9 $fill in the blank 10 $fill in the blank 11

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Concept explainers

Question

This is complete 1 question

please answer complete question otherwise skip it

please answer within the format by providing formula the detailed working
Please provide answer in text (Without image)
Please provide answer in text (Without image)
Please provide answer in text (Without image)

Single Plantwide Factory Overhead Rate

Gwinnett County Chrome Company manufactures three chrome-plated products—automobile bumpers, valve covers, and wheels. These products are manufactured in two production departments (Stamping and Plating). The factory overhead for Gwinnett County Chrome is $239,200.

The three products consume both machine hours and direct labor hours in the two production departments as follows:

	Direct Labor Hours	Machine Hours
Stamping Department
Automobile bumpers		590		810
Valve covers		310		570
Wheels		350		620
		1,250		2,000
Plating Department
Automobile bumpers		195		1,150
Valve covers		200		700
Wheels		195		750
		590		2,600
	Total		1,840		4,600

Required:

1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours.

Direct labor hour overhead rate	$fill in the blank 1 per direct labor hour
Machine hour overhead rate	$fill in the blank 2 per machine hour

2. Determine the product factory overhead costs, using (a) the direct labor hour plantwide factory overhead rate and (b) the machine hour plantwide factory overhead rate.

	Automobile Bumpers	Valve Covers	Wheels
Direct labor hours	$fill in the blank 3	$fill in the blank 4	$fill in the blank 5
Machine hours	$fill in the blank 6	$fill in the blank 7	$fill in the blank 8

Multiple Production Department Factory Overhead Rates

Gwinnett County Chrome Company manufactures three chrome-plated products—automobile bumpers,valve covers, and wheels. These products are manufactured in two production departments (Stamping and Plating). The factory overhead for Gwinnett County Chrome is $239,200.

The three products consume both machine hours and direct labor hours in the two production departments as follows:

	Direct Labor Hours	Machine Hours
Stamping Department
Automobile bumpers		590		810
Valve covers		310		570
Wheels		350		620
		1,250		2,000
Plating Department
Automobile bumpers		195		1,150
Valve covers		200		700
Wheels		195		750
		590		2,600
	Total		1,840		4,600

The management of Gwinnett County Chrome Company now plans to use the multiple production department factory overhead rate method. The total factory overhead associated with each department is as follows:

Stamping Department	$120,000
Plating Department	104,000
Total	$224,000

Required:

1. Determine the multiple production department factory overhead rates, using direct labor hours for the Stamping Department and machine hours for the Plating Department.

Stamping Department	$fill in the blank 1 per direct labor hour
Plating Department	$fill in the blank 2 per machine hour

2. Determine the product factory overhead costs, using the multiple production department rates in (1).

	Automobile bumpers	Valve covers	Wheels
Stamping Department	$fill in the blank 3	$fill in the blank 4	$fill in the blank 5
Plating Department	fill in the blank 6	fill in the blank 7	fill in the blank 8
Total factory overhead	$fill in the blank 9	$fill in the blank 10	$fill in the blank 11

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.