Units produced Prime costs Machine hours Engineering hours Receiving orders Inspection hours Overhead costs: Machining Engineering...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Units produced Prime costs Machine hours Engineering hours Receiving orders Inspection hours Overhead costs: Machining Engineering Receiving Inspecting products Required: Basic Advanced 1. Calculate the four activity rates. Machining rate Engineering rate Receiving rate Inspecting rate Basic Advanced $ Basic $ Advanced 80,000 $6,560,000 80,000 Unit cost $ 500 1,000 $6,240,000 2,000,000 440,000 480,000 500 2. Calculate the unit costs using activity rates. Round your answers to the nearest cent. Overhead Cost per unit per unit 240,000 $25,440,000 per machine hour per hour per order per hour 400,000 4,500 Calculate the overhead cost per unit. Round your answers to the nearest cent. per unit 1,500 per unit 2,000 $32,000,000 480,000 5,000 2,000 3,000 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: Basic Advanced 1. Calculate the four activity rates. Machining rate Engineering rate Receiving rate Inspecting rate Basic Advanced $ Basic $ Advanced 80,000 $6,560,000 80,000 Unit cost $ 500 1,000 $6,240,000 2,000,000 440,000 480,000 500 2. Calculate the unit costs using activity rates. Round your answers to the nearest cent. Overhead Cost per unit per unit 240,000 $25,440,000 per machine hour per hour per order per hour 400,000 4,500 Calculate the overhead cost per unit. Round your answers to the nearest cent. per unit 1,500 per unit 2,000 $32,000,000 480,000 5,000 2,000 3,000 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
Expert Answer:
Answer rating: 100% (QA)
1 Calculate Activity Rates Machining Rate Machining Rate Total Machining Cost Total Machine Hours Machining Rate 8240000 80000 480000 machine hours Ma... View the full answer
Related Book For
Cornerstones of Cost Management
ISBN: 978-1285751788
3rd edition
Authors: Don R. Hansen, Maryanne M. Mowen
Posted Date:
Students also viewed these accounting questions
-
Roberts Company produces two weed eaters: basic and advanced. The company has four activities: machining, engineering, receiving, and inspection. Information on these activities and their drivers is...
-
In a 1000 - 1250 word (4-5 page) paper discuss each of the seven family life cycles from the textbook. How important is each stage? What have we learned in this course that can help with...
-
1. CNA Industrial Group Corp. carries two products. Total sales are estimated to be 10,000 regular + 5,000 large units. Fixed costs are $20,000. Sales price of regular is $70 with variable expenses...
-
Gatske A.S .s chart of accounts includes the following selected accounts. 101 .......................Cash 201 Accounts Payable 120 .......................Inventory 332 Cash Dividends 130...
-
Media strategy models allow planners to compare the impact of different media plans, using criteria such as reach, frequency, and gross impressions. What other kinds of criteria should a planner take...
-
After returning from a skiing vacation in Vermont, Leslie Adel came down with Legionnaires Disease. He claimed it was from the water drunk at the ski resort and provided by Greensprings of Vermont...
-
Classification of Land and Building Costs Spitfire Company was incorporated on January 2, 2011, but was unable to begin manufacturing activities until July 1, 2011, because new factory facilities...
-
In late 2007, some observers were concerned that the U.S economy was experiencing a dangerous combination or reduced output growth (resulting in increased unemployment) and higher inflation, as had...
-
At age 25, someone sets up an IRA (individual retirement account) with an APR of 5%. At the end of each month he deposits $60 in the account. How much will the IRA contain when he retires at age 65?...
-
Write output of the following code by completing it with explanation of all iterations int fun(int x) { If(x <5) For(int i=1;i <4;i++) Cout <
-
Reyes and Santiago are partners who share profits and losses in the ratio of 7:3, respectively. On January 1, 2022, their capital accounts are: Reyes Santiago Total (b) P480,000 320,000 P800,000...
-
Amber has a Homeowners 3 policy. The dwelling is insured for $150,000 and the replacement cost of the home is $250,000. Indicate whether or not each of the following losses is covered. If possible,...
-
20. Match the engagement described to the (A) type of audit and (B) auditor that would most likely perform the engagement. Each engagement will have an answer from List-A and List-B. An answer can be...
-
Accountability refers to what you need to feel accountable/ responsible/ answerable for pursuing your goal. Instructions: In the space provided, below, indicate how you will be accountable for...
-
ii) Discuss how you would establish the monitoring and evaluating framework for the identified areas of opportunities. iii) Complete the table and perform cost benefit analysis by determining the...
-
Find the inverse of the following n x n lower triangular matrix, 1 x A = 1 I x 27-2 1 r 1 0 1 z 1
-
Modify the counter from Exercise 5.44 such that the counter will either increment by 4 or load a new 32-bit value, D, on each clock edge, depending on a control signal Load. When Load = 1, the...
-
Using the same data found in Exercise 6.22, assume the company uses the FIFO method. Required: Prepare a schedule of equivalent units, and compute the unit cost for the month of December. In Exercise...
-
Shorts Manufacturing, Inc., has implemented lean manufacturing in its Kansas City plant as a pilot program. One of its value streams produces a family of small electric tools. The value stream team...
-
Merry Co. has two major categories of factory overhead: materials handling and quality control. The costs expected for these categories for the coming year are as follows: Material handling .......
-
Beginning in the 1920s, Russian physicist Pyotr Kapitza or Kapitsa (18941984, Nobel laureate in physics 1978) measured the Paschen-Back effect to an accuracy of 1 percent to 3 percent in various...
-
Consider transitions from a \({ }^{2} D\) state to a \(2 P\) state in the strong field PaschenBack regime. List all allowed transitions and show that there are only three different spectral lines.
-
What is the longest wavelength of the Paschen series spectrum? Would it be visible to the human eye?
Study smarter with the SolutionInn App