Homework Answers
| $1,200,000 | |||
| Machine setup | $150,000 | ||
| Factory maintenace | $200,000 | ||
| Factory heating | $100,000 | ||
| Engineer salaries | $750,000 | ||
| $1,200,000 | |||
| Note: Activity based costing (ABC) assigns manufacturing overhead costs to products in a | |||
| more logical manner than the traditional approach. The below costs are not manufacturing | |||
| overhead costs, so it can't include in total overhead costs to be allocated to products using | |||
| the ABC method. | |||
| Administrative heating | |||
| Administrative salaries | |||
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Knowledge Check 01 Sherpa Company has Identified the following activities and costs....
Sherpa Company has identified the following activities and costs. Activity Machine setup Factory maintenance Administrative heating...
Sherpa Company has identified the following activities and costs. Activity Machine setup Factory maintenance Administrative heating Factory heating Administrative salaries Engineer salaries Cost $ 150,000 $ 200,000 $ 50,000 $ 100,000 $ 600,000 $ 750,000 The total overhead costs to be allocated to products using the ABC method is: $1,200,000 $1,250,000 $1,850,000 $1,800,000
Knowledge Check 01 Sheldon Company uses the activity-based costing system and has Identified the following activity...
Knowledge Check 01 Sheldon Company uses the activity-based costing system and has Identified the following activity cost pools, activity costs, and pool cost. The number of cost pools used by Sheldon is: Activity cost $ 150, 000 $ 200,000 $ 100, 000 60০, ০০০ $ 750,000 Pool Cost Activity Cost Pool Machine setup Factory maintenance Factory heating Plant manager salaries Engineer salaries $ 150,000 $ 300,000 $1,350,000 03 2.
Knowledge Check 01 Expected Activity Activities and Activity Measures Estimated Overhead Costs Product 1 Product 2...
Knowledge Check 01 Expected Activity Activities and Activity Measures Estimated Overhead Costs Product 1 Product 2 Hand-processing (direct labor-hours) $ 320,000 45,000 55,000 Setting up equipment (number of setups) 150,000 9,000 21,000 Administering parts inventories (number of part types) 30,000 110 90 $ 500,000 Transformation Corporation has provided the information set forth above regarding the overhead to be allocated between the two products it produces: CDE and EFG. What is the activity rate for the hand-processing units activity?
X Company uses an activity-based costing overhead allocation system. It has identified three activities - Setup,...
X Company uses an activity-based costing overhead allocation system. It has identified three activities - Setup, Purchasing Machine maintenance and their respective cost drivers - setup hours, purchase orders, machine hours. Budgeted activity costs in 2018 were as follows: Activity Setup Purchasing Machine maintenance Budgeted Cost $100,000 58,300 59,900 The following 2018 cost driver information is available for one of its products Product X, and for all of its products (including Product x): setup hours purchase orders machine hours Product...
Approximately Relevant ABCSilven Company has identified the following overhead activities, costs, and activity drivers for the...
Approximately Relevant ABCSilven Company has identified the following overhead activities, costs, and activity drivers for the coming year:Silven produces two models of cell phones with the following expected activity demands:Required:1. Determine the total overhead assigned to each product using the four activity drivers.2. Determine the total overhead assigned to each model using the two most expensive activities. The costs of the two relatively inexpensive activities are allocated to the two expensive activities in proportion to their costs.3. Using ABC as...
Cornwell Products has adopted an ABC costing system to allocate its overhead costs. The following manufacturing...
Cornwell Products has adopted an ABC costing system to allocate its overhead costs. The following manufacturing activities and cost drivers have been identified: Activity Machine setup Machining Polishing Quality control Facility-level costs Total overhead costs Estimated OH Costs $180,000 $1,050,000 $100,000 $320,000 $150,000 $1,800,000 Esimated amount of allocation base 2,000 setups 12,000 machine hours 5,000 polishing cloths 4,000 test runs 50,000 DL hours The job cost record for Job #804 revealed the following Direct material costs: $1,250 Direct labor 12...
i need help with this Xie Company identified the following activities, costs, and activity drivers for...
i need help with this
Xie Company identified the following activities, costs, and activity drivers for this year. The company manufactures two types of go- karts: Deluxe and Basic. Activity Handling materials Inspecting product Processing purchase orders Paying suppliers Insuring the factory Designing packaging Expected Costs $650,000 925,000 130,000 200,000 325,000 100,000 Expected Activity 100,000 parts 1,500 batches 700 orders 500 invoices 40,000 square feet 2 models Assume that the following information is available for the company's two products for...
Xie Company identified the following activities, costs, and activity drivers for this year. The company manufactures...
Xie Company identified the following activities, costs, and activity drivers for this year. The company manufactures two types of go- karts: Deluxe and Basic Activity Handling materials Inspecting product Processing purchase orders Paying suppliers Insuring the factory Designing packaging Expected costs $ 660,000 935,eee 140,000 210,000 335.000 110.000 Expected Activity 100,000 parts 1.580 batches 700 orders 500 invoices 40,000 square feet 2 models Assume that the following information is available for the company's two products for the first quarter of...
Two parts to one question: Part two: Xie Company identified the following activities, costs, and activity...
Two parts to one question:
Part two:
Xie Company identified the following activities, costs, and activity drivers for this year. The company manufactures two types of go- karts: Deluxe and Basic Activity Handling materials Inspecting product Processing purchase orders Paying suppliers Insuring the factory Designing packaging Expected Costs $ 725,000 1,000,000 205,000 275,000 400,000 175,000 Expected Activity 100,000 parts 1,500 batches 700 orders 500 invoices 40,000 square feet 2 models Required: Compute the activity rate for each activity, assuming the...
Exercise 17-3 Assigning costs using ABC LOP3 Xie Company identified the following activities, costs, and activity...
Exercise 17-3 Assigning costs using ABC LOP3 Xie Company identified the following activities, costs, and activity drivers for 2017. The company manufactures two types of go-karts: Deluxe and Basic Activity Handling materials Inspecting product Processing purchase orders Paying suppliers Insuring the factory Designing packaging Expected Costs $ 625,000 900,000 105,000 175,000 300,000 75,000 Expected Activity 100,000 parts 1,500 batches 700 orders 500 invoices 40,000 square feet 2 models Assume that the following information is available for the company's two products...
Sherpa Company has identified the following activities and costs. Activity Machine setup Factory maintenance Administrative heating Factory heating Administrative salaries Engineer salaries Cost $ 150,000 $ 200,000 $ 50,000 $ 100,000 $ 600,000 $ 750,000 The total overhead costs to be allocated to products using the ABC method is: $1,200,000 $1,250,000 $1,850,000 $1,800,000
Knowledge Check 01 Sheldon Company uses the activity-based costing system and has Identified the following activity cost pools, activity costs, and pool cost. The number of cost pools used by Sheldon is: Activity cost $ 150, 000 $ 200,000 $ 100, 000 60০, ০০০ $ 750,000 Pool Cost Activity Cost Pool Machine setup Factory maintenance Factory heating Plant manager salaries Engineer salaries $ 150,000 $ 300,000 $1,350,000 03 2.
X Company uses an activity-based costing overhead allocation system. It has identified three activities - Setup, Purchasing Machine maintenance and their respective cost drivers - setup hours, purchase orders, machine hours. Budgeted activity costs in 2018 were as follows: Activity Setup Purchasing Machine maintenance Budgeted Cost $100,000 58,300 59,900 The following 2018 cost driver information is available for one of its products Product X, and for all of its products (including Product x): setup hours purchase orders machine hours Product...
Approximately Relevant ABCSilven Company has identified the following overhead activities, costs, and activity drivers for the coming year:Silven produces two models of cell phones with the following expected activity demands:Required:1. Determine the total overhead assigned to each product using the four activity drivers.2. Determine the total overhead assigned to each model using the two most expensive activities. The costs of the two relatively inexpensive activities are allocated to the two expensive activities in proportion to their costs.3. Using ABC as...
Cornwell Products has adopted an ABC costing system to allocate its overhead costs. The following manufacturing activities and cost drivers have been identified: Activity Machine setup Machining Polishing Quality control Facility-level costs Total overhead costs Estimated OH Costs $180,000 $1,050,000 $100,000 $320,000 $150,000 $1,800,000 Esimated amount of allocation base 2,000 setups 12,000 machine hours 5,000 polishing cloths 4,000 test runs 50,000 DL hours The job cost record for Job #804 revealed the following Direct material costs: $1,250 Direct labor 12...
i need help with this
Xie Company identified the following activities, costs, and activity drivers for this year. The company manufactures two types of go- karts: Deluxe and Basic. Activity Handling materials Inspecting product Processing purchase orders Paying suppliers Insuring the factory Designing packaging Expected Costs $650,000 925,000 130,000 200,000 325,000 100,000 Expected Activity 100,000 parts 1,500 batches 700 orders 500 invoices 40,000 square feet 2 models Assume that the following information is available for the company's two products for...
Xie Company identified the following activities, costs, and activity drivers for this year. The company manufactures two types of go- karts: Deluxe and Basic Activity Handling materials Inspecting product Processing purchase orders Paying suppliers Insuring the factory Designing packaging Expected costs $ 660,000 935,eee 140,000 210,000 335.000 110.000 Expected Activity 100,000 parts 1.580 batches 700 orders 500 invoices 40,000 square feet 2 models Assume that the following information is available for the company's two products for the first quarter of...
Two parts to one question:
Part two:
Xie Company identified the following activities, costs, and activity drivers for this year. The company manufactures two types of go- karts: Deluxe and Basic Activity Handling materials Inspecting product Processing purchase orders Paying suppliers Insuring the factory Designing packaging Expected Costs $ 725,000 1,000,000 205,000 275,000 400,000 175,000 Expected Activity 100,000 parts 1,500 batches 700 orders 500 invoices 40,000 square feet 2 models Required: Compute the activity rate for each activity, assuming the...
Exercise 17-3 Assigning costs using ABC LOP3 Xie Company identified the following activities, costs, and activity drivers for 2017. The company manufactures two types of go-karts: Deluxe and Basic Activity Handling materials Inspecting product Processing purchase orders Paying suppliers Insuring the factory Designing packaging Expected Costs $ 625,000 900,000 105,000 175,000 300,000 75,000 Expected Activity 100,000 parts 1,500 batches 700 orders 500 invoices 40,000 square feet 2 models Assume that the following information is available for the company's two products...
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