On Chapter 6 Problem 3 in Cost, the formula should be Estimated Overhead/Estimated Allocation Base. When I put in 210,490 / 88,700 = 2.37. This is the wrong answer. I need ideas on the correct way to work the problem, please. Thank you and thank you for your time. **Overview of Overhead Rate Calculation for Tiger Furnishings**Tiger Furnishings produces two models of cabinets for home theater components, the Basic and the Dominator. The following operational data and costs for March are provided:| | Basic | Dominator | Total ||----------------------|--------|-----------|----------|| Units produced | 950 | 350 | 1,300 || Machine-hours | 4,300 | 2,000 | 6,300 || Direct labor-hours | 3,800 | 2,400 | 6,200 || Direct materials costs| $10,600| $3,400 | $14,000 || Direct labor costs | $56,800| $31,900 | $88,700 || Manufacturing overhead costs | | | $210,490 |**Total costs:** $313,190**Task Requirement:**Compute the predetermined overhead rate, using direct labor costs as the basis for allocating overhead. *Note: Please round your answer to two decimal places.***Graphical Features:**- The table lists production data and associated costs for two product lines.- A section is designated for calculating the predetermined overhead rate as a percentage of direct labor costs. This exercise helps understand cost allocation methods in manufacturing settings, particularly the use of direct labor costs to distribute overhead costs effectively.

Tiger Furnishings produces two models of cabinets for home theater components, the Basic and the Dominator. Data on operations and costs for March follow: Basic Dominator Units produced Machine-hours Direct labor-hours Direct materials costs Direct labor costs Total 1,300 6,300 6,200 $ 14,000 88,700 210,490 950 350 4,300 3,800 $10,600 56,800 2,000 2,400 $ 3,400 31,900 Manufacturing overhead costs Total costs $313,190 Required: Compute the predetermined overhead rate assuming that Tiger Furnishings uses direct labor costs to allocate overhead costs. (Round your answer to 2 decimal places.) Predetermined overhead rate % of direct labor cost

Tiger Furnishings produces two models of cabinets for home theater components, the Basic and the Dominator. Data on operations and costs for March follow: Basic Dominator Units produced Machine-hours Direct labor-hours Direct materials costs Direct labor costs Total 1,300 6,300 6,200 $ 14,000 88,700 210,490 950 350 4,300 3,800 $10,600 56,800 2,000 2,400 $ 3,400 31,900 Manufacturing overhead costs Total costs $313,190 Required: Compute the predetermined overhead rate assuming that Tiger Furnishings uses direct labor costs to allocate overhead costs. (Round your answer to 2 decimal places.) Predetermined overhead rate % of direct labor cost

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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Please refer to the following notes as given in the images. Part 1: Understanding Activity-Based Costing a) Define ABC and explain its fundamental principles. b) Compare ABC with traditional costing methods Please answer this questions fully explain your answer in details explanation without any plagiarism and don't copy from other websites. Original. Answers from experts. Answer both part a and b. [*^%/_<>>_/=@+++++×$-'"^&*(*?,::**>[[(&^%%^****>[[[^=÷××$&<>*
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cercise 11-5 (Algo) Volume Trade-Off Decisions [LO11-5] utdoor Luggage, Incorporated, makes high-end hard-sided luggage for sports equipment. Data concerning three of the mpany's most popular models appear below. Selling price per unit Variable cost per unit Plastic injection molding machine processing time. required to produce one unit Pounds of plastic pellets per unit S Which product offers the most profitable use of the plastic pellets? Which product has the largest contribution margin per unit? Required 1 Required 2 Complete this question by entering your answers in the tabs below. Required 3 Required 4 quired: f we assume that the total time available on the plastic injection molding machine is the constraint in the production ocess, how much contribution margin per minute of the constrained resource is earned by each product? Which product offers the most profitable use of the plastic injection molding machine? If we assume that a severe shortage of plastic pellets has required…
High-low method Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: X Open spreadsheet 105,000 118,000 134,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Variable cost: Total fixed cost: Units Produced a. Determine the variable cost per unit and the total fixed cost. Round your answer for variable cost to the nearest cent. Round your answer for total fixed costs to the nearest dollar. Total Costs per unit Total cost for 86,000 units: $30,307,500 32,745,000 35,745,000 b. Based on part (a), estimate the total cost for 86,000 units of production. Round your answer to the nearest dollar.
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Q.1.2 The direct method as used by Ultimate Manufacturers is one method that can be used to re-assign service department cost. Discuss two other methods that can be used to re-assign service department overheads.
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