Using activity-based costing, compute the overhead cost per unit for each model. (Round Activity Rate to...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Using activity-based costing, compute the overhead cost per unit for each model. (Round "Activity Rate" to 2 decim other answers to the nearest whole dollar amount.) Overhead cost per unit-Model X Activity Machining Setups Inspection Purchasing Total allocated cost Units produced Overhead cost per unit Overhead cost per unit-Model Z Activity Machining Setups Inspection Purchasing Total allocated cost Units produced Overhead cost per unit Activity Usage Activity Rate Allocated Cost Activity Usage Activity Rate Allocated Cost Required 1 Required 2 Required 3 Required 4 Compute the total product cost per unit for each model. (Round "Activity Rate" to 2 decimal places and other intermediate calculations to the nearest whole dollar amount. Round your final answers to 2 decimal places.) Per Unit Model X Model Z Direct Materials Direct Labor Overhead Product Cost per Unit Required 1 Required 2 Required 3 Required 4 For each model, compute the gross profit per unit (selling price per unit minus product cost per unit). (Round "Product cost per unit" and "Gross Profit" to 2 decimal places and other intermediate calculations to the nearest whole dollar amount. Negative amounts should be indicated with a minus sign.) Per Unit Model X Model Z Selling Price Product cost per unit Gross Profit Process Activity Activity $ 311,000 26,000 $ 337,000 Budgeted Cost Activity Cost Driver Machine hours (MH) Usage 7,800 Setups 120 Assembly Machining Setups Finishing Support Inspecting $ 222,000 Purchasing $ 136,000 Inspections 820 Purchase orders 450 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Setups Model X 1,800 Model Z 3,600 2,200 5,600 40 80 Inspections 500 320 Purchase orders Per Unit 300 150 Model X Model Z Selling price per unit $ 410 Direct materials cost per unit Direct labor cost per unit 145 130 $ 390 115 130 1. Compute the activity rate for each activity using activity-based costing. 2. Using activity-based costing, compute the overhead cost per unit for each model. 3. Compute the total product cost per unit for each model. 4. For each model, compute the gross profit per unit (selling price per unit minus product cost per unit). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the activity rate for each activity using activity-based costing. (Round "Activity rate" to 2 decimal places.) Activity Machining Setups Inspecting Purchasing Budgeted Cost Budgeted Activity Usage Activity Rate Using activity-based costing, compute the overhead cost per unit for each model. (Round "Activity Rate" to 2 decim other answers to the nearest whole dollar amount.) Overhead cost per unit-Model X Activity Machining Setups Inspection Purchasing Total allocated cost Units produced Overhead cost per unit Overhead cost per unit-Model Z Activity Machining Setups Inspection Purchasing Total allocated cost Units produced Overhead cost per unit Activity Usage Activity Rate Allocated Cost Activity Usage Activity Rate Allocated Cost Required 1 Required 2 Required 3 Required 4 Compute the total product cost per unit for each model. (Round "Activity Rate" to 2 decimal places and other intermediate calculations to the nearest whole dollar amount. Round your final answers to 2 decimal places.) Per Unit Model X Model Z Direct Materials Direct Labor Overhead Product Cost per Unit Required 1 Required 2 Required 3 Required 4 For each model, compute the gross profit per unit (selling price per unit minus product cost per unit). (Round "Product cost per unit" and "Gross Profit" to 2 decimal places and other intermediate calculations to the nearest whole dollar amount. Negative amounts should be indicated with a minus sign.) Per Unit Model X Model Z Selling Price Product cost per unit Gross Profit Process Activity Activity $ 311,000 26,000 $ 337,000 Budgeted Cost Activity Cost Driver Machine hours (MH) Usage 7,800 Setups 120 Assembly Machining Setups Finishing Support Inspecting $ 222,000 Purchasing $ 136,000 Inspections 820 Purchase orders 450 Additional production information concerning its two models follows. Units and Activities Units produced Machine hours Setups Model X 1,800 Model Z 3,600 2,200 5,600 40 80 Inspections 500 320 Purchase orders Per Unit 300 150 Model X Model Z Selling price per unit $ 410 Direct materials cost per unit Direct labor cost per unit 145 130 $ 390 115 130 1. Compute the activity rate for each activity using activity-based costing. 2. Using activity-based costing, compute the overhead cost per unit for each model. 3. Compute the total product cost per unit for each model. 4. For each model, compute the gross profit per unit (selling price per unit minus product cost per unit). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the activity rate for each activity using activity-based costing. (Round "Activity rate" to 2 decimal places.) Activity Machining Setups Inspecting Purchasing Budgeted Cost Budgeted Activity Usage Activity Rate
Expert Answer:
Answer rating: 100% (QA)
Activity Rate Calculation Activity Budgeted Cost Budgeted Activity Usage Activity Rate Machining 311000 7800 MH 3987 per MH Setups 337000 120 setups 2... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
4 An electron emitter will be used to make a beam of electrons for a microscope. Electrons are emitted from a hot wire and accelerated between an anode and cathode plate which can be approximated to...
-
Which of the following statements is true about the followinginterval: Xbar +/- 1.96 S / sqrt(n) Question 2 options: 1.The interval center is random, but its width is not. 2.The interval center is...
-
If you were a hedge fund manager, which style would you employ and why? Describe this style and how it works. Why would you utilize it and under what macroeconomic conditions would this style work...
-
If two resistors with resistances R1 and R2 are connected in parallel, as in the figure, then the total resistance R, measured in ohms (Ω), is given by 1/R = 1/R1 + 1/R2 If R1 and R2 are...
-
According to Governance, Risk & Compliance (2023), Jessica Fountaine, a woman from Florida got arrested on suspicion of fraud and third-degree grand theft in connection with a resident of Brandon...
-
Integrate Bernoulli's equation for compressible flow, Eq. (6.56), for a fluid whose pressure \(p\) and density \(ho\) obey the expression \(p=C ho^{n}\) along a streamline, where \(C\) and \(n\) are...
-
You recently graduated from college, and your job search led you to East Coast Yachts. Because you felt the companys business was seaworthy, you accepted a job offer. The first day on the job, while...
-
Spielman Leather, Inc., produces three sizes of sports gloves: small, medium, and large. A glove pattern is first stenciled onto leather in the Pattern Department. The stenciled patterns are then...
-
Tofutti Foods ( https://www.tofutti.com/ ) is a U.S.-based manufacturer of dairy-free and vegan food products - famous for their vegan cheese. With the demand for vegan products expected to rise as...
-
Solve by factoring: 3x - 13x + 4 = 0 List the solutions, separated by commas.
-
1. Using excel find the answers to the following: (remember to use excel functions) a. Find the price today of a five year bond with a $1000 face value with a 10 percent coupon. Assume that investors...
-
Put the following discussion section of a memo in proper IRAC order. 1 = Issue 2 = Rule 3 = Analysis 4 = Conclusion Personal pawned property cannot be sold by a pawnee within one year from the time...
-
Go to the Simon Sinek video on YouTube, watch it, what are the key messages from this video? How does what Simon say align with what we have been talking about in class? AND, provide a personal...
-
Johann Bach is 54 years old and his spouse, Maria, is 67. Maria is eligible for the disability tax credit. Johann's net income for 2021 is $109,000, while Maria's 2021 net income is $6,200 and is all...
-
You know that how probability values can be used in managerial decision-making to establish a product guarantee, post a comment where you think probability could be used to help solve other...
-
Write out the formula for the total costs of carrying and ordering inventory, and then use the formula to derive the EOQ model. Andria Mullins, financial manager of Webster Electronics, has been...
-
Temperature is an intensive property. State True (T) or False (F)
-
Kinetic energy is an extensive property. State True (T) or False (F)
-
A nozzle represents an open system. State True (T) or False (F)
Study smarter with the SolutionInn App