!Required information[The following information applies to the questions displayed below.]Hickory Company manufactures two products-15,000 units of Product Y and 7,000 units of Product Z.The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementingan activity-based costing (ABC) system that allocates all $597,000 of its manufacturing overhead to fourcost pools. The following additional information is available for the company as a whole and for ProductsY and Z:Activity Cost PoolMachiningMachine setupsProduct designGeneral factoryActivity MeasureMachine-hoursNumber of setupsNumber of productsDirect labor-hoursActivity MeasureMachine-hoursNumber of setupsNumber of productsDirect labor-hoursEstimated OverheadProduct Y Product Z6,4004,6006080117,4005,8007. Which of the four activities is a batch-level activity?Cost$ 213,400$ 61,600$ 78,000$ 244,000Expected Activity11,000 MHS140 setups2 products13,200 DLHS

Under activity-based costing method, the cost is allocated to each activity based on its…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Required information Greenwood Company manufactures two products-15,000 units of Product Y and 7,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Activity Cost Pool Machining Machine setups Production design General factory Activity Measure Machining Number of setups Number of products Direct labor-hours Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Estimated Overhead Cost $ 227,700 $ 153,908 Product Y Product Z 8,700 60 1 8,700 2,300 210 1 1,300 Expected Activity 11,000 MHS 270 setups $ 91,000. $ 257,000 2 products 10,000 DLHS 14. Using the ABC system, what percentage of the Product Design cost is assigned to Product Y and Product Z? (Round your answers to 2…
Required information Skip to question [The following information applies to the questions displayed below.] Hickory Company manufactures two products—13,000 units of Product Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all $729,000 of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Activity Cost Pool Activity Measure Estimated Overhead Cost Expected Activity Machining Machine-hours $ 231,600 12,000 MHs Machine setups Number of setups $ 55,900 130 setups Product design Number of products $ 77,000 2 products General factory Direct labor-hours $ 364,500 14,400 DLHs Activity Measure Product Y Product Z Machine-hours 6,300 5,700 Number of setups 40 90 Number of products 1 1 Direct labor-hours 9,000 5,400…
XYZ Co.currently uses traditional costing procedures, applying $800,000 of overhead to products Beta and Zeta on the basis of direct labor hours. The company is considering a shift to activity-based costing and the creation of individual cost pools that will use direct labor hours (DLH), production setups (SU), and number of parts components .(PC) as cost drivers. Data on the cost pools and respective driver volumes follow Pool No.1 (Driver: DLH) Pool No. 3 (Driver: PC) Pool No. 2 (Driver: SU) Product 2,250 55 1,200 Zeta 750 45 2,800 Beta $360,000 $280,000 $160,000 Pool Cost :The overhead cost allocated to Beta by using activity-based costing procedures would be $356,000 a O $328,000 .b O .None of the given answers .c O $444,000 .d O $472,000 .e O
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Hickory Company manufactures two products—13,000 units of Product Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all $829,500 of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Activity Cost Pool Activity Measure Estimated Overhead Cost Expected Activity Machining Machine-hours $ 246,000 12,000 MHs Machine setups Number of setups $ 137,500 250 setups Product design Number of products $ 89,000 2 products General factory Direct labor-hours $ 357,000 14,400 DLHs Activity Measure Product Y Product Z Machine-hours 7,500 4,500 Number of setups 40 210 Number of products 1 1 Direct labor-hours 8,500 5,900 Foundational 7-12 (Algo) 12. Using the ABC system, what percentage of the Machining costs is assigned to Product…
Qriole Inc. manufactures two products: car wheels and truck wheels. To determine the amount of overhead to assign to each product line, the controller, William Brown, has developed the following information: Estimated wheels produced Direct labour hours per wheel Car Car wheels $ Truck 45,000 11,000 4 Total estimated overhead costs for the two product lines are $1,340,000. Calculate the overhead cost assigned to the car wheels and truck wheels, assuming that direct labour hours are used to allocate overhead costs. 8 180,000
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Required information [The following information applies to the questions displayed below.] Hickory Company manufactures two products-13,000 units of Product Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all $829,500 of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Activity Cost Pool Machining Machine setups Product design Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Estimated Overhead Cost $ 246,000 Expected Activity 12,000 MHS $ 89,000 $ 357,000 14,400 250 setups 2 products DLHS $ 137,500 General factory Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Product Y Product Z 7,500 40 1 8,500 4,500 210 1 5,900 2. Using the plantwide overhead rate, how much manufacturing…

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