Required: 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 13,000 direct labor hours. 2. Job 31 used 320 direct labor hours and Job 42 used 560 direct labor hours. Allocate overhead cost to each job using the single plantwide overhead rate from part 1. 3. Compute an activity rate for each activity using activity-based costing. 4. Allocate overhead costs to Job 31 and Job 42 using activity-based costing. Activity Cost Driver Direct labor hours (DLH) Engineering hours (EB) Machine hours (MH) Setups Activity Usage Job 31 320 35 60 5 Job 42 560 41 60 7 Complete this question by entering your answers in the tabs below.

Required: 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 13,000 direct labor hours. 2. Job 31 used 320 direct labor hours and Job 42 used 560 direct labor hours. Allocate overhead cost to each job using the single plantwide overhead rate from part 1. 3. Compute an activity rate for each activity using activity-based costing. 4. Allocate overhead costs to Job 31 and Job 42 using activity-based costing. Activity Cost Driver Direct labor hours (DLH) Engineering hours (EB) Machine hours (MH) Setups Activity Usage Job 31 320 35 60 5 Job 42 560 41 60 7 Complete this question by entering your answers in the tabs below.

Name: esD♪McGrawClasses N NetflixActivityAssemblyProduct designElectricityS
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Description: esD♪McGrawClasses N NetflixActivityAssemblyProduct designElectricitySetupTotalCraftmore Machining reports the following budgeted overhead cost and related data for this year.Budgeted Cost$ 477,75073,50024,50061,250$ 637,000Activity Cost DriverDirect

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 7EA: A company estimates its manufacturing overhead will be $750,000 for the next year. What is the...

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