Answer all parts correctly and completely in text form with steps explanation computation remember answer all or skip Units producedPrime costsMachine hoursEngineering hoursReceiving ordersInspection hoursOverhead costs:MachiningEngineeringReceivingInspecting productsRequired:Machining rateEngineering rateReceiving rateInspecting rateRegularDeluxe1. Calculate the four activity rates.$RegularDeluxe$$RegularDeluxeRegular$150,000$13,200,000150,000$7,200,0001,650,000512,000324,000300400per unit600550 ✓ per hour320 ✓per order180 ✓per hourX per unitOverhead Costper unit8 ✓per machine hourDeluxeper unit450,000$51,300,0002. Calculate the unit costs using activity rates. Round your answers to the nearest cent.Unit cost750,0002,7001,2001,200Total$64,500,000Calculate the overhead cost per unit. Round your answers to the nearest cent.900,0003,0001,6001,8003. If consumption ratios instead of activity rates were used to assign costs instead of activity rates,show the cost assignment for the inspection activity.Cost assignment

ABC assigns indirect costs and overhead to the production process and creates cost pools based on…

Units produced Prime costs Machine hours Engineering hours Receiving orders Inspection hours Overhead costs: Machining Engineering Receiving Inspecting products Required: Machining rate Engineering rate Receiving rate Inspecting rate Regular Deluxe 1. Calculate the four activity rates. Regular Deluxe $ $ Regular Deluxe Regular $ 150,000 $13,200,000 $ 150,000 Unit cost $7,200,000 1,650,000 512,000 324,000 550 320 180 300 400 600 per unit Overhead Cost ✔per hour X per unit 8 ✓per machine hour. per hour per order per unit Deluxe 450,000 2. Calculate the unit costs using activity rates. Round your answers to the nearest cent. per unit $51,300,000 750,000 2,700 1,200 1,200 Total Calculate the overhead cost per unit. Round your answers to the nearest cent. $64,500,000 900,000 3,000 1,600 1,800 3. If consumption ratios instead of activity rates were used to assign costs instead of activity rates, show the cost assignment for the inspection activity. Cost assignment

Units produced Prime costs Machine hours Engineering hours Receiving orders Inspection hours Overhead costs: Machining Engineering Receiving Inspecting products Required: Machining rate Engineering rate Receiving rate Inspecting rate Regular Deluxe 1. Calculate the four activity rates. Regular Deluxe $ $ Regular Deluxe Regular $ 150,000 $13,200,000 $ 150,000 Unit cost $7,200,000 1,650,000 512,000 324,000 550 320 180 300 400 600 per unit Overhead Cost ✔per hour X per unit 8 ✓per machine hour. per hour per order per unit Deluxe 450,000 2. Calculate the unit costs using activity rates. Round your answers to the nearest cent. per unit $51,300,000 750,000 2,700 1,200 1,200 Total Calculate the overhead cost per unit. Round your answers to the nearest cent. $64,500,000 900,000 3,000 1,600 1,800 3. If consumption ratios instead of activity rates were used to assign costs instead of activity rates, show the cost assignment for the inspection activity. Cost assignment

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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