Question: Need answers with formulas in excel ITEM SET: ABC HUFFMAN CORP. (HC) PRODUCT COSTING DATA Products TV Board PC Board Budgeted sales volume 65,000 40,000
Need answers with formulas in excel
| ITEM SET: ABC | ||||||
| HUFFMAN CORP. (HC) PRODUCT COSTING DATA | ||||||
| Products | TV Board | PC Board | ||||
| Budgeted sales volume | 65,000 | 40,000 | ||||
| Sales price | $ 150 | $ 300 | ||||
| Direct materials | $ 80 | $ 140 | ||||
| Standard cost system data | ||||||
| TV Board | PC Board | |||||
| Direct labor (hrs.) | 1.5 | 4.0 | ||||
| Machine time (hrs.) | 0.5 | 1.5 | ||||
| Variable factory overhead in the standard cost system is applied based on direct labor hours. | ||||||
| Variable factory overhead budget | $ 1,120,000 | |||||
| Direct labor hours budgeted | 280,000 | |||||
| Direct labor rate (per hr.) | $ 14 | |||||
| Machine time rate (per hr.) | $ 10 | |||||
| Direct materials handling cost (%) | 10% | |||||
| Total materials expenditure | $ 10,600,000 | |||||
| Activity-based cost system data | ||||||
| Budgeted cost | Cost driver | Activity Level | ||||
| Materials overhead | ||||||
| Procurement | $ 400,000 | Number of parts | 4,000,000 | |||
| Production scheduling | 220,000 | Number of boards | 110,000 | |||
| Packaging and shipping | 440,000 | Number of boards | 110,000 | |||
| Total | $ 1,060,000 | |||||
| Variable overhead | ||||||
| Machine setup | $ 446,000 | Number of setups | 278,750 | |||
| Hazardous waste disposal | 48,000 | Pounds of waste | 16,000 | |||
| Quality control | 560,000 | Number of inspections | 160,000 | |||
| General supplies | 66,000 | Number of boards | 110,000 | |||
| Total | $ 1,120,000 | |||||
| Manufacturing | ||||||
| Machine insertion | $ 1,200,000 | Number of parts | 3,000,000 | |||
| Manual insertion | 4,000,000 | Number of parts | 1,000,000 | |||
| Wave soldering | 132,000 | Number of boards | 110,000 | |||
| Total | $ 5,332,000 | |||||
| Required per unit | TV Board | PC Board | ||||
| Parts (count) | 25 | 55 | ||||
| Machine insertions | 24 | 35 | ||||
| Manual insertions | 1 | 20 | ||||
| Machine setups (count) | 2 | 3 | ||||
| Hazardous waste (lb.) | 0.02 | 0.35 | ||||
| Inspections (count) | 1 | 2 | ||||
| Calculate the budgeted unit cost for the TV Board using the standard cost system data. | ||||||
| Item | Cost | |||||
| Direct materials | ||||||
| DM Handling | ||||||
| Direct labor | ||||||
| Machine time | ||||||
| Variable overhead | ||||||
| Total | ||||||
| Calculate the budgeted unit cost for the TV Board using the activity-based cost (ABC) system data. | ||||||
| Item | Cost | |||||
| Direct materials | ||||||
| Procurement | ||||||
| Production scheduling | ||||||
| Packaging and shipping | ||||||
| Machine setup | ||||||
| Hazardous waste disposal | ||||||
| Quality control | ||||||
| General supplies | ||||||
| Machine insertion | ||||||
| Manual insertion | ||||||
| Wave soldering | ||||||
| Total | ||||||
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
