Data Allocation baseMachine-hoursEstimated manufacturing overhead cost$300,000 Estimated total amount of the allocation base75,000machine-hoursActual manufacturing overhead cost$290,000 Actual total amount of the allocation base68,000machine-hours Enter a formula into each of the cells marked with a ? below Computation of the predetermined overhead rate Estimated manufacturing overhead cost? Estimated total amount of the allocation base?machine-hoursPredetermined overhead rate?per machine-hour Computation of underapplied or overapplied manufacturing overhead Actual manufacturing overhead cost ? Manufacturing overhead cost applied to Work in Process during the year: Predetermined overhead rate?per machine-hourActual total amount of the allocation base ? machine-hoursManufacturing overhead applied ? Underapplied (overapplied) manufacturing overhead ?

Introduction: A predetermined overhead rate is a rate that is applied to cost objects for a specific…

Data Allocation base Machine-hours Estimated manufacturing overhead cost $300,000 Estimated total amount of the allocation base 75,000 machine-hours Actual manufacturing overhead cost $290,000 Actual total amount of the allocation base 68,000 machine-hours Enter a formula into each of the cells marked with a ? below

Data Allocation base Machine-hours Estimated manufacturing overhead cost $300,000 Estimated total amount of the allocation base 75,000 machine-hours Actual manufacturing overhead cost $290,000 Actual total amount of the allocation base 68,000 machine-hours Enter a formula into each of the cells marked with a ? below

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 8MC: A company calculated the predetermined overhead based on an estimated overhead of $70.000, and the...

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A company calculated the predetermined overhead based on an estimated overhead of $70.000, and the activity for the cost driver was estimated as 2,500 hours. If product A utilized 1,350 hours and product 8 utilized 1,100 hours, what was the total amount of overhead assigned to the products? A. $35000 B. $30.800 C. $37,800 D. $68,600
Figuring a predetermined overhead rate using direct materials as the allocation base. $130500 estimated manufacturing overhead cost and $87000 as allocation base. Then whats next in the formula
Indirect cost allocationCalculate the overhead surcharges for material, manufacturing & admin based on the followinginformation (numbers in kEUR, unless stated otherwise):Information on direct costsDirect material costs 5,000Direct manufacturing costs 7,500 Information on indirect costsEnergy 2,100Maintenance 500Vehicles 360Material 240Manufacturing 1,200Admin 750 Information on cost allocationEnergy 15,000 MWh manufacturing, 3,500 MWh maintenance, 1500 MWh material, 1,000 MWh admin Maintenance 5 hrs vehicles, 35 hrs manufacturing, 5 hrs material, 5 hrs adminVehicles 3 cars material, 6 cars manufacturing, 21 cars admin
A company has the following overhead costs and activities: Estimated Expected Activity Product V Product W Product X Overhead Activities and Activity Measures Machine setups (setups) Processing customer orders (orders) Assembling products (assembly-hours) $9,178.00 Cost $7,234.50 $3,565.50 69 12 10 20 9 21 492 697 111 1. If the company allocates overhead to products using assembly hours as the single allocation base, how much overhead will be allocated to product X? A. $1,706 B. $784 C. $618 D. $304 2. How much overhead cost would be assigned to Product V using the activity-based costing system? A. $158 B. $91,722 C. $10,385 D. $5,485
Knowledge Check 01 In the cost formula (Y = a +bX) that is used to estimate the total manufacturing overhead cost for a given period, the letter "a" refers to the estimated O total manufacturing overhead cost O total fixed manufacturing overhead cost O variable manufacturing overhead cost per unit of the allocation base O total amount of the allocation base
Activity Cost Pool Cost Driver EstimatedOverhead Use perProduct A Use perProduct B Machine Setups Setups $144,000 6,000 2,000 Assembly Number of Parts 71,000 25,000 46,000 Machine Maintenance Machine Hours 200,000 13,000 37,000 Compare the overhead allocation using (A) the traditional allocation method and (B) the activity-based costing method. (Hint: the traditional method uses machine hours as the allocation base.) For those boxes in which you must enter subtractive or negative numbers use a minus sign.
The information for the question is in the attached images. a. Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate based on machine-hours. Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined overhead rate $ [ ] per MH b. Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate based on machine-hours. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. (Round your intermediate calculations to 2 decimal places.) Total manufacturing cost Job D-70 [ ] Job C-200 [ ] c. Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate based on machine-hours. If Delph establishes bid prices that are 150% of total manufacturing costs, what bid prices would it have…
Doaktown Products manufactures fishing equipment for recreational uses. The Miramichi plant produces the company's two versions of a special reel used for river fishing. The two models are the M-008, a basic reel, and the M-123, a new and improved version. Cost accountants at company headquarters have prepared costs for the two reels for the most recent period. The plant manager is concerned. The cost report does not coincide with her intuition about the relative costs of the two models. She has asked you to review the cost accounting and help her prepare a response to headquarters. Manufacturing overhead is currently assigned to products based on their direct labor costs. For the most recent month, manufacturing overhead was $334,400. During that time, the company produced 14,900 units of the M-008 and 2,400 units of the M-123. The direct costs of production were as follows. М-008 М-123 Total Direct materials $119,200 $ 96,000 48,000 $215,200 Direct labor 119,200 167,200 Management…
Title Brahtz Company uses an activity-based costing system. It has the following manufacturing activity ar Description Brahtz Company uses an activity-based costing system. It has the following manufacturing activity areas, related cost drivers and cost allocation rates:ActivityCost DriverCost Allocation RateMachine setupNumber of setups$25.00Materials handlingNumber of parts0.25MachiningMachine hours13.00AssemblyDirect labor hours22.00InspectionNumber of finished units7.00During the month, 100 units were produced, with no defects, requiring three setups. Each unit consisted of 17 parts, 3 direct labor hours and 2.5 machine hours. Direct materials cost $50 per finished unit.What is the total manufacturing cost for inspections?$-0-$700$90$7
When calculating the predetermined manufacturing overhead rate, what is the correct basis of calculation? a.Estimated overhead costs divided by the estimated amount of the cost driver or allocation base b.Estimated amount of the cost driver divided by the estimated total overhead costs c.Estimated overhead costs divided by the number of days in a year d.Actual overhead costs of the prior year divided by the actual amount of the cost driver or allocation base
Overhead costs are assigned to each product based on ________. Group of answer choices A. the proportion of that product’s use of the cost driver B. a predetermined overhead rate for a single cost driver C. price of the product D. machine hours per product
Production and cost data Production and sales units Selling price (per unit) Materials (per unit) Labor (per unit) Manufacturing overheads Dept. A Standrad 192000 24000 $15 1.7 4.3 Dept. B Designer wear Number of machine set-ups 4 Marketing overheads $50 8 14.2 24 Engineering and PC Marketing and CS 745200 1296000 Use single-rate; direct method to allocate engineering and marketing overheads Engineering overheads include machine setting ($460,800) and inspection ($284,400) activities. Marketing involves channel ($496,000) and branding ($800,000) activities. The inspection and channel costs are driven by the number of units produced & sold. Computing product costs and profits under conventional and ABC approaches

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Data
Allocation base	Machine-hours
Estimated manufacturing overhead cost	$300,000
Estimated total amount of the allocation base	75,000	machine-hours
Actual manufacturing overhead cost	$290,000
Actual total amount of the allocation base	68,000	machine-hours

Enter a formula into each of the cells marked with a ? below

Computation of the predetermined overhead rate
Estimated manufacturing overhead cost	?
Estimated total amount of the allocation base	?	machine-hours
Predetermined overhead rate	?	per machine-hour

Computation of underapplied or overapplied manufacturing overhead
Actual manufacturing overhead cost	?
Manufacturing overhead cost applied to Work in Process during the year:
Predetermined overhead rate	?	per machine-hour
Actual total amount of the allocation base	?	machine-hours
Manufacturing overhead applied	?
Underapplied (overapplied) manufacturing overhead	?