Cycle Accessories manufacturers cellphone holders that can be mounted on the handle bars of most motorcycles. The manufacturing process is highly automated and management feels that machine-hours are likely the main driver of overhead costs. Data from the most recent year are shown below. Month January February March Overhead Costs $53,300 54,620 Machine-Hours 2,200 2,260 2,500 60,500 April 3,220 65,420 May 3,400 67,710 June 4,000 69,480 July 4,600 75,270 August 5,200 76,640 September 4,900 74,260 October 3,400 67,400 November 2,560 62,190 December 4,600 73,410 Required: 1. Using least-squares regression, estimate the fixed cost and variable cost elements of monthly overhead costs. Estimate the fixed. cost element to the nearest dollar and the variable cost element to the nearest cent. Fixed cost Variable cost per machine hour 2. If the company expects to use 3,700 machine-hours next month, estimate total overhead costs. Total overhead costs

Adriana Corporation manufactures football equipment. In planning for next year, the managers want to understand the relation between activity and overhead costs. Discussions with the plant supervisor suggest that overhead seems to vary with labor hours, machine hours, or both. The following data were collected from last year’s operations.   Month               Labor-Hours                Machine-Hours                   Overhead costs    1                             720                              1,355                                   $  102,644    2                             720                              1,411                                        103,842    3                             675                              1,527                                        109,938    4                             750                                1,462                                        108,297   5                              785                              1,582…

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How much overhead cost would be assigned to product?

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Fountain Water Products (FWP) manufacturers water bottles. They have historically used a traditional system that allocated the manufacturing overhead costs based on machine hours. FWP is looking at switching to an ABC system in order to ensure more accurate product costing. They first want to compare the traditional and ABC costing systems to determine if it is worth the effort and costs to implement and maintain.   They estimate a total overhead cost of $459,000. Under the traditional system they identified machine hours as the cost driver, and estimated a total of 51,000 machine hours. They actually incurred 48,700 machine hours in production. The total applied MOH calculated under the more precise ABC system was $320,000. The ABC costing system will cost $50,000 to implement. FWP has determined that a benefit of more accurate costing by $80,000 is worth the $50,000 implementation cost. What is the difference between the ABC costing and traditional system? Enter your number as a…

Adirana corporation manufacturers football equipment please give me answer accounting

SmokeCity, Inc., manufactures barbeque smokers. Based on past experience, SmokeCity has found that its total annual overhead costs can be represented by the following formula: Overhead cost = $520,475 + $1.49X, where X equals number of smokers. Last year, SmokeCity produced 19,100 smokers. Actual overhead costs for the year were as expected. Required: 1. What is the driver for the overhead activity?   For questions 2-4, Enter the final answers rounded to the nearest dollar. 2. What is the total overhead cost incurred by SmokeCity last year? $fill in the blank 2 3. What is the total fixed overhead cost incurred by SmokeCity last year? $fill in the blank 3 4. What is the total variable overhead cost incurred by SmokeCity last year? $fill in the blank 4 For questions 5-7, round your answers to the nearest cent. Use those rounded figures in subsequent computations, if necessary. 5. What is the overhead cost per unit produced? $fill in the blank 5 per unit 6. What is the fixed overhead cost…

Sunland Co. gathered the following information on power costs and factory machine usage for the last six months: Month January February March April May June (a) Power Cost $28,390 (b) 36,069 32,895 26,235 (c) 23,890 20,700 Your answer is correct. Variable power costs $ Using the high-low method of analyzing costs, answer the following questions and show computations to support your answers. eTextbook and Media Your answer is correct. Factory Machine Hours What is the estimated variable portion of power costs per factory machine hour? (Round answer to 2 decimal places, e.g. 15.25.) Fixed power costs $ eTextbook and Media 15,800 21,400 Total power cost $ 18,700 High 15,100 13,500 What is the estimated fixed power cost each month? 10,500 1.41 5,895 per factory machine hour Low 5,895 If it is estimated that 13,800 factory machine hours will be run in July, what is the expected total power cost for July?