Homework Answers
a. Estimated overheads = 22500 *11 + 165780 = 413280
No of labor hours for the year = 7900 * 9 +9100 *3 = 98400
Pre determined overhead rate = 413280 / 98400 = 4.2 per labor hour
b. No of units manufactured = 3950 * 9 +4550 *3 = 49200
No of labor hours per unit = 98400 / 49200 = 2
| Jan | March | August | |
| Total allocated overhead cost | 33180 | 33180 | 38220 |
| Cost per unit | 43 | 43 | 43 |
| Price | 63.8 | 63.8 | 63.8 |
Workings:
| Jan | March | August | |
| Direct Materials | 10.6 | 10.6 | 10.6 |
| Direct Labor | 24 | 24 | 24 |
| Overhead cost | 8.4 | 8.4 | 8.4 |
| Total | 43 | 43 | 43 |
| Gross Margin | 20.8 | 20.8 | 20.8 |
| Price per unit | 63.8 | 63.8 | 63.8 |
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$23,500). The company expected to use 7,400 direct labor hours per
month except during July, August, and September when the company
expected 10,000 hours of direct labor each month to build
inventories for high demand that normally occurs...
Walton Corporation estimated its overhead costs would be $23,200 per month except for January when it pays the $120,120 annual insurance premium on the manufacturing facility. Accordingly, the January overhead costs were expected to be $143,320 ($120,120 + $23,200). The company expected to use 7,500 direct labor hours per month except during July, August, and September when the company expected 9,900 hours of direct labor each month to build inventories for high demand that normally occurs during the Christmas season....
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