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Cream 160 210 550 1,300 Packing Department Whole milk 250 340 Skim milk 400 420 Cream 120 140 770 900 Total 1,320 2,200 Required: 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hour required, round all amounts to the nearest dollar. a. Direct labor overhead rate 142.15 per direct labor hour b. Machine hour overhead rate 84 per machine hour 2. Determine the product factory overhead costs, using (a) the direct labor hour plantwide factory overhead rate and (b) the machine hour plantw factory overhead rate. Whole Milk Skim Milk Cream Direct labor hours 24 Machine hours

Cream 160 210 550 1,300 Packing Department Whole milk 250 340 Skim milk 400 420 Cream 120 140 770 900 Total 1,320 2,200 Required: 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hour required, round all amounts to the nearest dollar. a. Direct labor overhead rate 142.15 per direct labor hour b. Machine hour overhead rate 84 per machine hour 2. Determine the product factory overhead costs, using (a) the direct labor hour plantwide factory overhead rate and (b) the machine hour plantw factory overhead rate. Whole Milk Skim Milk Cream Direct labor hours 24 Machine hours

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Please answer the bottom half. Question 2. The chart one please and please be accurate. 

Cream 160 210 550 1,300 Packing Department Whole milk 250 340 Skim milk 400 420 Cream 120 140 770 900 Total 1,320 2,200 Required: 1. Determine the single plantwide factory verhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours. If required, round all amounts to the nearest dollar. a. Direct labor overhead rate $4 142.15 per direct labor hour b. Machine hour overhead rate 84 per machine hour 2. Determine the product factory overhead costs, using (a) the direct labor hour plantwide factory overhead rate and (b) the machine hour plantwide factory overhead rate. Whole Milk Skim Milk Cream Direct labor hours Machine hours %24 %24 %24 %24
Transcribed Image Text:Cream 160 210 550 1,300 Packing Department Whole milk 250 340 Skim milk 400 420 Cream 120 140 770 900 Total 1,320 2,200 Required: 1. Determine the single plantwide factory verhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours. If required, round all amounts to the nearest dollar. a. Direct labor overhead rate $4 142.15 per direct labor hour b. Machine hour overhead rate 84 per machine hour 2. Determine the product factory overhead costs, using (a) the direct labor hour plantwide factory overhead rate and (b) the machine hour plantwide factory overhead rate. Whole Milk Skim Milk Cream Direct labor hours Machine hours %24 %24 %24 %24
Single Plantwide Factory Overhead Rate Spotted Cow Dairy Company manufactures three products-whole milk, skim milk, and cream- in two production departments, Blending and Packing. The factory overhead for Spotted Cow Dairy is $184,800. The three products consume both machine hours and direct labor hours in the two production departments as follows: Direct Labor Machine Hours Hours Blending Department Whole milk 190 570 Skim milk 200 520 Сream 160 210 550 1,300 Packing Department Whole milk 250 340 Skim milk 400 420 Cream 120 140 770 900 Total 1,320 2,200 Required: 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours. If reauired. round all amounts to the nearest dollar.
Transcribed Image Text:Single Plantwide Factory Overhead Rate Spotted Cow Dairy Company manufactures three products-whole milk, skim milk, and cream- in two production departments, Blending and Packing. The factory overhead for Spotted Cow Dairy is $184,800. The three products consume both machine hours and direct labor hours in the two production departments as follows: Direct Labor Machine Hours Hours Blending Department Whole milk 190 570 Skim milk 200 520 Сream 160 210 550 1,300 Packing Department Whole milk 250 340 Skim milk 400 420 Cream 120 140 770 900 Total 1,320 2,200 Required: 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours. If reauired. round all amounts to the nearest dollar.
Expert Solution
Step 1

Manufacturing overhead means the expense incurred in factory which is not directly linked with production but indirectly related with it . For example , gate keeper salary etc.

Manufacturing overhead is absorbed on some predetermined basis and then compare it with actual manufacturing overhead incurred.

Over or under applied manufacturing overhead will be written off in some predetermined manner.

 

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