Question: Steadman Co . incurs $ 7 0 0 , 0 0 0 of overhead costs each year in its three main departments, machining ( $

Steadman Co. incurs $700,000 of overhead costs each year in its three main departments, machining ($400,000), inspections ($200,000) and packing ($100,000). The machining department works 4,000 hours per year, there are 600 inspections per year, and the packing department packs 1,000 orders per year. Information about Steadman's two products is as follows:
\table[[,Product X,Product Y],[Machining hours,1,000,3,000],[Inspections,100,500],[Orders packed,350,650]]
Using Activity Based Costing, how much overhead is assigned to Product x this year?
$350,333
$240,666
$366,666
$168,333
$340,000
Steadman Co. incurs $700,000 of overhead costs each year in its

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