Omega Company manufactures a single product. They have two production and two servicedepartments. The following information is provided.Production departmentMachining Assembly$143,500Service departmentMaintenance CanteenOverheads$154,700$165,800$176,900Direct Machine hours 18,84514,050Direct Labor hours6,06520,350| The service department overhead is apportioned to the production department on followingbasis.Machining60%CanteenAssembly30%Maintenance10%Canteen40%60%Required:a. Prepare overhead absorption table showing the reapportionment of service departmentcosts.b. Based on apportionment calculate overhead rate for each production department.c. Calculate per unit cost for the single product if material cost is 3 meters @ $4 permeter and labor is 7 hours @$8 per hour. For machining department overhead is 3hours and for assembly department it is 4 hours. ,d. Determine the selling price of the product if the above cost per unit is 100% plus 25%is markup. (

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Answered: Omega Company manufactures a single…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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