1. Michaels Company’s total material costs are $50,000 and total conversion costs are $65,000. Equivalent units of produ...
1. Michaels Company’s total material costs are $50,000 and total conversion costs are $65,000. Equivalent units of production for materials are 10,000, and 5,000 for conversion costs. Instructions
Compute the unit costs for materials, conversion costs, and total manufacturing costs for the month. Show your answer in good form. Include all your calculations.
2.
Sonys Inc. leases access to high-speed computers to small businesses. It provides the following information for the year:
Budgeted Actual
Overhead cost $2,000,000 $1,900,000
Computer hours 100,000 90,000
Direct labor hours 200,000 180,000
Overhead is applied on the basis of computer hours.
Instructions
a. Compute the predetermined overhead rate.
b. Determine the amount of overhead applied for the year.
Show your answers in good form. Include all your calculations.
Homework Answers
Unit cost = Total cost/Equivalent number of Units
Material = 50,000/10,000 = $5 per unit
Conversion cost = 65,000/5,000 = $13 per unit
Total Manufacturing cost = 5+13 = $18 per unit
a.Predetermined overhead rate = Budgeted Overheads/Budgeted Base
= 2,000,000/100,000
= $20 per computer hour
b.Overhead Applied = Predetermined Rate*Actual Hours
= 20*90,000
= $1,800,000
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