Question: Please solve receiving for assembly and finishing. Also total for both. General Factory Receiving Assembly Finishing Direct overhead $400,000 $160,000 2,700 $74,000 5,400 Square footage

 Please solve receiving for assembly and finishing. Also total for both.

Please solve receiving for assembly and finishing. Also total for both.

General Factory Receiving Assembly Finishing Direct overhead $400,000 $160,000 2,700 $74,000 5,400 Square footage $43,000 5,400 1,680 25,000 Number of receiving orders 300 1,020 Direct labor hours - 40,000 The support departments are ranked in order of highest cost to lowest cost. Required: 1. Allocate the costs of the support departments using the sequential method. (Use the rounded values for subsequent calculations. Round allocation ratios to four significant digits. Round allocated costs to the nearest dollar. If an amount is zero, enter "0".) Allocation ratios: Receiving Assembly 0.4 Finishing 0.4 Square footage 0.2 0 Number of receiving orders 0.6222 0.3778 Allocations: General Factory Receiving Assembly Finishing Direct overhead cost $ 400,000 $ 160,000 $ 43,000 $ 74,000 Allocate: General Factory 160,000 160,000 -400,000 0 80,000 -240,000 Receiving Total 2. Using direct labor hours, compute departmental overhead rates. (Round to the nearest cent.) Overhead Rate

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!