Question: Please answer both questions.. I have no other question left. Thanks. Tiger Furnishings produces two models of cabinets for home theater components, the Basic and

 Please answer both questions.. I have no other question left. Thanks.Tiger Furnishings produces two models of cabinets for home theater components, theBasic and the Dominator. Data on operations and costs for March follow:Units produced Machine-hours Direct labor-hours Direct materials costs Direct labor costs Manufacturing

Please answer both questions.. I have no other question left. Thanks.

Tiger Furnishings produces two models of cabinets for home theater components, the Basic and the Dominator. Data on operations and costs for March follow: Units produced Machine-hours Direct labor-hours Direct materials costs Direct labor costs Manufacturing overhead costs Total costs Basic 1,000 4,000 3,000 $10,000 58,000 Dominator 300 2,000 2,000 $ 4,250 32,000 Total 1,300 6,000 5,000 $ 14,250 90,000 156,240 $260,490 Required: Compute the individual product costs per unit assuming that Tiger Furnishings uses direct labor costs to allocate overhead to the products. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Unit Cost Basic Dominator Donovan & Parents produces soccer shorts and jerseys for youth leagues. Most of the production is done by machine. Data on operations and costs for March follow. Units produced Machine-hours used Direct labor-hours Direct materials costs Direct labor costs Manufacturing overhead costs Jerseys 9,000 1,040 250 $12,700 $ 5,000 Shorts 5,200 760 110 $8,700 $2,200 Total 14,200 1,800 360 $21,400 $ 7,200 $21,214 Management asks the firm's cost accountant to compute product costs. The accountant first assigns overhead costs to two pools: overhead related to direct materials and overhead related to machine-hours. The analysis of overhead accounts by the cost accountant follows. Account Utilities Supplies Machine depreciation and maintenance Purchasing and storing materials Miscellaneous Amount Related to: $3,980 Machine-hours 2,800 Materials 7,120 Machine-hours 3,834 Materials 3,480 Machine-hours Required: a. Compute the predetermined overhead rates assuming that Donovan uses machine-hours to allocate machine-related overhead costs and materials costs to allocate materials-related overhead costs. b. Compute the total costs of production and the cost per unit for each of the two products for March. Aativa Required: a. Compute the predetermined overhead rates assuming that Donovan uses machine-hours to allocate machine-related overhead costs and materials costs to allocate materials-related overhead costs. b. Compute the total costs of production and the cost per unit for each of the two products for March. Complete this question by entering your answers in the tabs below. Required A Required B Compute the predetermined overhead rates assuming that Donovan uses machine-hours to allocate machine-related overhead costs and materials costs to allocate materials-related overhead costs. (Round "Machine-related overhead" rate to 2 decimal places and enter "Materials related overhead" rate as a whole percentage (i.e., 32).) Overhead Rate Machine-hour related per hour Materials related % Required A Required B > Required: a. Compute the predetermined overhead rates assuming that Donovan uses machine-hours to allocate machine-related overhead costs and materials costs to allocate materials-related overhead costs. b. Compute the total costs of production and the cost per unit for each of the two products for March. Complete this question by entering your answers in the tabs below. Required a Required B Compute the total costs of production and the cost per unit for each of the two products for March. (Do not round intermediate calculations. Round your "Cost per unit" to 2 decimal places.) Jerseys Shorts Total cost Cost per unit

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!