Answer the following questions using the information below: Comfort Corporation manufactures two models of office chai...
Answer the following questions using the information below:
Comfort Corporation manufactures two models of office chairs, a standard and a deluxe model. The following activity and cost information has been compiled:
|
Product |
Number of Setups |
Number of Components |
Number of Direct Labor Hours |
|
Standard |
12 |
8 |
255 |
|
Deluxe |
28 |
12 |
245 |
|
|
|||
|
Overhead costs |
$52,000 |
$78,000 |
Assume a traditional costing system applies the overhead costs based on direct labor hours. What is the total amount of overhead costs assigned to the standard model?
A.
$65,700
B.
$63,600
C.
$66,300
D.
$66,700
Homework Answers
| Total Overhead costs | 130000 | =52000+78000 |
| Divide by Total Direct Labor Hours | 500 | =255+245 |
| Overhead rate | 260 | |
| Standard model Direct Labor Hours | 255 | |
| X Overhead rate | 260 | |
| Overhead costs assigned to the standard model | 66300 | |
| Option C $66,300 is correct |
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