Use the data below to calculate the amount of overhead allocated to product 2 assuming that...
Use the data below to calculate the amount of overhead allocated to product 2 assuming that factory overhead is allocated based on machine hours.
Overhead: 77,167. I keep getting 5.79, but the answer is 6.38 apparently.
Production units
Product 1: 2,400
Product 2: 10,000
Machine hours per product
Product 1: 7
Product 2: 8
Product 1
| Element | Units | $ per unit |
| DM component 1 | 4.54 ounces | $88.35/ounce |
| DL Assistant | 8 | 19 |
Product 2
| Element | Units | $ per unit |
| DM component 2 | 3 ounces | $2/ounce |
| DL Assistant | 6 | 19 |
Homework Answers
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Use the data below to calculate the amount of overhead allocated
to product 2 assuming that...
Use the data below to calculate the amount of overhead allocated to product 1 assuming that...
Use the data below to calculate the amount of overhead allocated to product 1 assuming that factory overhead is allocated based on direct material cost. overhead 62600 Production units Product 1: 1954 Product 2: 3612 Machine hours per product Product 1 Element Units $ per unit DM component 1 4 oz 99.1/oz DL Assistant 6 29 Product 2 Element Units $ per unit DM component 2 14.43 ounces $5/ounce DL Assistant 10 29
2. The following data have been provided by Lopus Corporation: Budgeted production Standard machine-hours per unit Sta...
2.
The following data have been provided by Lopus Corporation: Budgeted production Standard machine-hours per unit Standard lubricants Standard supplies 4,000 units 4.1 machine-hours 5.60 per machine-hour 4.30 per machine-hour $ $ Actual production Actual machine-hours Actual lubricants (total) Actual supplies (total) 4,300 units 9,480 machine-hours $ 54,833 $40,239 Required: Compute the variable overhead rate variances for lubricants and for supplies. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect...
Xavier Company produces a single product. Variable manufacturing overhead is applied to products on the basis...
Xavier Company produces a single product. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. The standard costs for one unit of product are as follows: Direct material: 6 ounces at $0.50 per ounce . . . . . . . . . . . . . . . . . . $3 Direct labor: 1.8 hours at $10 per hour . . . . . . . . . . . . . . ....
The fixed-overhead is allocated using machine hour. The following fixed overhead data pertain to March: Production...
The fixed-overhead is allocated using machine hour. The following fixed overhead data pertain to March: Production Machine-hours Fixed overhead costs for March Machine-hour per unit Actual Static Budget 25,000 units 24,000 units 6,100 hours 6,000 hours $123,000 $120,000 0.244 0.25 What is the flexible-budget amount? O $120,000 O $122,000 O $123,000 O $125,000
Majer Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead...
Majer Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Standard Quantity or Standard Price or Cost Per Hours Rate Unit 6.4 ounces $ 3.00 per ounce $19.20 0.4 hours $13.00 per hour $ 5.20 0.4 hours $ 5.00 per hour $ 2.00 The company reported the following results concerning this product in February. Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price...
Consider the following independent jobs. Overhead is allocated in Department 1 at the rate of $6...
Consider the following independent jobs. Overhead is allocated in Department 1 at the rate of $6 per direct labour hour. Overhead is allocated in Department 2 at the rate of $8 per machine hour. Direct labour wages average $20 per hour in each department. Job 213 Job 214 Job 217 Job 225 Total sales revenue $? $4 375 $5 600 $1 150 $12 $? $14 $5 $365 $? $488 $207 Price per unit Materials used in production Department 1, direct...
2. Puvo, Inc., manufactures a single product in which variable manufacturing overhead is assigned on the basis of stan...
2.
Puvo, Inc., manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct labor-hours. The company uses a standard cost system and has established the following standards for one unit of product: Standard Price or Standard Standard Quantity 6.70 pounds Rate Cost $ 3.35 Direct materials $ .50 per pound $42.50 per hour $ 9.40 per hour Direct labor 0.40 hours $17.00 $ 3.76 Variable manufacturing overhead 0.40 hours During March, the following...
Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price...
Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 7.0 ounces $ 3.00 per ounce $ 21.00 Direct labor 0.3 hours $ 14.00 per hour $ 4.20 Variable overhead 0.3 hours $ 9.00 per hour $ 2.70 The company reported the following results concerning this product in June. Originally budgeted output 2,400 units Actual output 2,900 units Raw materials used in production 22,000 ounces Purchases...
4 PES Problem D:C&W Corporation manufactures travel clocks and watches, Overhead costs are currently allocated using...
4 PES Problem D:C&W Corporation manufactures travel clocks and watches, Overhead costs are currently allocated using direct labor hours, but the controller has recommended using an activity-based costing system based on the following data: Activity Cost Driver Cost assigned Travel Clocks Watches Production setup Setups $100,000 20 setups 30 setups Material handling and requisition Parts $30,000 24 parts 36 parts Packaging and shipping Units shipped $60,000 80,000 units 120,000 units Total overhead $190,000 Compute the amount of total overhead allocated...
Problem D:C&W Corporation manufactures travel clocks and watches. Overhead costs are currently allocated using direct labor-hours,...
Problem D:C&W Corporation manufactures travel clocks and watches. Overhead costs are currently allocated using direct labor-hours, but the controller has recommended using an activity based costing system based on the following data: 21 points Cost Assigned $ Activity Production Setup Material handling & requisitions Packaging & Shipping Total Overhead Cost Driver Setups Parts Units shipped 100,000 30,000 60,000 190,000 Travel Clocks 20 setups 24 parts 80,000 units Watches 30 setups 36 parts 120,000 units $ Problem D (a) Compute the...
2.
The following data have been provided by Lopus Corporation: Budgeted production Standard machine-hours per unit Standard lubricants Standard supplies 4,000 units 4.1 machine-hours 5.60 per machine-hour 4.30 per machine-hour $ $ Actual production Actual machine-hours Actual lubricants (total) Actual supplies (total) 4,300 units 9,480 machine-hours $ 54,833 $40,239 Required: Compute the variable overhead rate variances for lubricants and for supplies. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect...
The fixed-overhead is allocated using machine hour. The following fixed overhead data pertain to March: Production Machine-hours Fixed overhead costs for March Machine-hour per unit Actual Static Budget 25,000 units 24,000 units 6,100 hours 6,000 hours $123,000 $120,000 0.244 0.25 What is the flexible-budget amount? O $120,000 O $122,000 O $123,000 O $125,000
Majer Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Standard Quantity or Standard Price or Cost Per Hours Rate Unit 6.4 ounces $ 3.00 per ounce $19.20 0.4 hours $13.00 per hour $ 5.20 0.4 hours $ 5.00 per hour $ 2.00 The company reported the following results concerning this product in February. Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price...
Consider the following independent jobs. Overhead is allocated in Department 1 at the rate of $6 per direct labour hour. Overhead is allocated in Department 2 at the rate of $8 per machine hour. Direct labour wages average $20 per hour in each department. Job 213 Job 214 Job 217 Job 225 Total sales revenue $? $4 375 $5 600 $1 150 $12 $? $14 $5 $365 $? $488 $207 Price per unit Materials used in production Department 1, direct...
2.
Puvo, Inc., manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct labor-hours. The company uses a standard cost system and has established the following standards for one unit of product: Standard Price or Standard Standard Quantity 6.70 pounds Rate Cost $ 3.35 Direct materials $ .50 per pound $42.50 per hour $ 9.40 per hour Direct labor 0.40 hours $17.00 $ 3.76 Variable manufacturing overhead 0.40 hours During March, the following...
4 PES Problem D:C&W Corporation manufactures travel clocks and watches, Overhead costs are currently allocated using direct labor hours, but the controller has recommended using an activity-based costing system based on the following data: Activity Cost Driver Cost assigned Travel Clocks Watches Production setup Setups $100,000 20 setups 30 setups Material handling and requisition Parts $30,000 24 parts 36 parts Packaging and shipping Units shipped $60,000 80,000 units 120,000 units Total overhead $190,000 Compute the amount of total overhead allocated...
Problem D:C&W Corporation manufactures travel clocks and watches. Overhead costs are currently allocated using direct labor-hours, but the controller has recommended using an activity based costing system based on the following data: 21 points Cost Assigned $ Activity Production Setup Material handling & requisitions Packaging & Shipping Total Overhead Cost Driver Setups Parts Units shipped 100,000 30,000 60,000 190,000 Travel Clocks 20 setups 24 parts 80,000 units Watches 30 setups 36 parts 120,000 units $ Problem D (a) Compute the...
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