erhead per unit was constant at $4,500 fc Year 1 Year 2 Year 3 198 210 150 210 150 280 $294,400 $271,200 $253.800
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- Rockwell Collins, headquartered in Cedar Rapids, IA, sells aviation and information technology systems. Rockwell applies manufacturing overhead on the basis of machine-hours. At the beginning of the most recent year, a small division of the company based its predetermined overhead rate on total estimated overhead of $60,600. Actual manufacturing overhead for the year amounted to $59,000 and actual machine-hours were 5,900. The company's predetermined overhead rate for the year was $10.10 per machine-hour. Therefore, the overhead for the year was:Dixon Robotics manufactures three robot models: the A3B4, the BC11, and the C3PO. Dixon allocates manufacturing overhead to each model based on machine-hours. A large portion of the company’s manufacturing overhead costs is incurred by the Maintenance Department. This year, the department anticipates that it will incur $100,000 in total costs. The following estimates pertain to the upcoming year. Model Estimated Machine-Hours Estimated Unitsof Production A3B4 20,000 6,250 BC11 15,000 5,000 C3PO 5,000 2,500 Ed Smith, Dixon’s cost accountant, suspects that unit costs are being distorted by using a single activity base to allocate Maintenance Department costs to products. Thus, he is considering the implementation of activity-based costing (ABC). Under the proposed ABC method, the costs of the Maintenance Department would be allocated to the following activity cost pools using the number of work orders as an activity base: (1) the repairs pool and (2) the janitorial…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…
- Gee Manufacturing produces two models of camshafts used in the production of automobile engines: Regular and High Performance. Gee currently uses an ABC system to assign costs to the two products. For the coming year, the company has the following overhead activities, costs, and activity drivers: activity expected cost activity driver activity capacity setups $214,612 set up hours 10,000 machining $420,000 machine hours 20,000 moving $112,500 move hours 5,000 total overhead $747,112 At practical capacity, the expected activity demands for each product are as follows: regular performance model high performance model units completed 30,000 8,000 set up hours 8,000 2,000 machine hours 6,000 14,000 moving hours 1,000 4,000 The production cycle time for the regular performance camshaft is 0.50 (hours per unit) and that of the high performance camshaft is 2.5 (hours per unit). Required: 1. Calculate the total and per unit overhead assigned to each model…Lehighton Chalk Company manufactures sidewalk chalk, which it sells online by the box at $25 per unit. Lehighton uses an actual costing system, which means that the actual costs of direct material, direct labor, and manufacturing overhead are entered into work-in-process inventory. The actual application rate for manufacturing overhead is computed each year; actual manufacturing overhead is divided by actual production (in units) to compute the application rate. Information for Lehighton's first two years of operation is as follows: Sales (in units) Production (in units) Production costs: Variable manufacturing costs Fixed manufacturing overhead Selling and administrative costs: Variable Fixed Based on absorption costing Finished-goods inventory Retained earnings Year 1 2,600 3,100 $15,500 18,600 Based on variable costing Finished-goods inventory Retained earnings LEHIGHTON CHALK COMPANY Selected Balance Sheet Information End of Year 1 10,400 9,400 $ 5,500 11,100 Selected information…Gee Manufacturing produces two models of camshafts used in the production of automobile engines: Regular and High Performance. Gee currently uses an ABC system to assign costs to the two products. For the coming year, the company has the following overhead activities, costs, and activity drivers: activity expected cost activity driver activity capacity setups $214,612 set up hours 10,000 machining $420,000 machine hours 20,000 moving $112,500 move hours 5,000 total overhead $747,112 At practical capacity, the expected activity demands for each product are as follows: regular performance model high performance model units completed 30,000 8,000 set up hours 8,000 2,000 machine hours 6,000 14,000 moving hours 1,000 4,000 The production cycle time for the regular performance camshaft is 0.50 (hours per unit) and that of the high performance camshaft is 2.5 (hours per unit). Required: Calculate the consumption ratios for each activity. Use these…
- Smithson Electric provides residential and business electric... [The following information applies to the questions displayed below.] Smithson Electric provides residential and business electric repair services. While direct labor and materials costs are traced to individual customers, administrative labor and transportation costs are considered overhead and applied as a percentage of direct labor costs. At the beginning of the year, Smithson estimates $10,000 of overhead costs and $50,000 of direct labor costs. Actual costs for the year are $12,000 for overhead and $48,000 for direct labor. Ending balances for WIP Inventory, Finished Goods Inventory, and Cost of Goods Sold are $4,000, $15,000, and $141,000 respectively. PR 4-5 (Static) Questions a-c. Answer the following questions based on the details provided. Question a. What is Smithson's predetermined overhead rate as a percentage of direct labor? Note: Round your answer to the nearest percent. b. The Jackson account accumulated…Wilmington Company has two manufacturing departments--Assembly and Fabrication. It considers all of its manufacturing overhead costs to be fixed costs. The first set of data that is shown below is based on estimates from the beginning of the year. The second set of data relates to one particular job completed during the year--Job Bravo. Estimated Data Manufacturing overhead costs Direct labor-hours Machine-hours Job Bravo Direct labor-hours Machine-hours Total Assembly Fabrication $2,520,000 $2,880,000 $5,400,000 90,000 36,000 Assembly Fabrication 19 11 11 14 Total 30 25 54,000 180,000 1. Plantwide manufacturing overhead applied to Job Bravo 2. Manufacturing overhead applied from Assembly to Job Bravo Manufacturing overhead applied from Fabrication to Job Bravo Total departmental manufacturing overhead applied to Job Bravo 144,000 216,000 Required: 1. If Wilmington used a plantwide predetermined overhead rate based on direct labor-hours, how much manufacturing overhead would be applied…Jose Corporation makes bottles using the latest automated technology. The company applies Factory Overhead cost to products on the basis of machine hours. The following are estimates used to determine the factory overhead rates at the start of the year. Machine Hours 150,000 Factory Overhead Cost 1,800,000 The company cost records show the following actual cost incurred for the year. Machine Hours 120,000 Factory Overhead Cost 1,700,000 Raw Materials 60,000 Work in Process (includes Factory Overhead applied of $72,000) 200,000 Finished Goods (includes Factory Overhead applied of $360,000) 1,000,000 Cost of Goods Sold (includes Factory Overhead applied of $1,008,000) 2,800,000 Required: Compute the Factory Overhead rate. Computer the under or over-applied Factory Overhead. Assume the variance is material, what is the adjustment of the Cost of Goods Sold? Assume the variance is material, what is the variance share of the Finished…
- Jose Corporation makes bottles using the latest automated technology. The company applies Factory Overhead cost to products on the basis of machine hours. The following are estimates used to determine the factory overhead rates at the start of the year. Machine Hours 150,000 Factory Overhead Cost 1,800,000 The company cost records show the following actual cost incurred for the year. Machine Hours 120,000 Factory Overhead Cost 1,700,000 Raw Materials 60,000 Work in Process (includes Factory Overhead applied of $72,000) 200,000 Finished Goods (includes Factory Overhead applied of $360,000) 1,000,000 Cost of Goods Sold (includes Factory Overhead applied of $1,008,000) 2,800,000 Required: Assume the variance is material, what is the adjustment of the Cost of Goods Sold? Assume the variance is material, what is the variance share of the Finished Goods Inventory account? Assume the variance is material, what is the variance share of…Jose Corporation makes bottles using the latest automated technology. The company applies Factory Overhead cost to products on the basis of machine hours. The following are estimates used to determine the factory overhead rates at the start of the year. Machine Hours 150,000 Factory Overhead Cost 1,800,000 The company cost records show the following actual cost incurred for the year. Machine Hours 120,000 Factory Overhead Cost 1,700,000 Raw Materials 60,000 Work in Process (includes Factory Overhead applied of $72,000) 200,000 Finished Goods (includes Factory Overhead applied of $360,000) 1,000,000 Cost of Goods Sold (includes Factory Overhead applied of $1,008,000) 2,800,000 Assume the variance is material, what is the variance share of the Finished Goods Inventory account? Assume the variance is material, what is the variance share of the Work in Process account?Jose Corporation makes bottles using the latest automated technology. The company applies Factory Overhead cost to products on the basis of machine hours. The following are estimates used to determine the factory overhead rates at the start of the year. Machine Hours 150,000 Factory Overhead Cost 1,800,000 The company cost records show the following actual cost incurred for the year. Machine Hours 120,000 Factory Overhead Cost 1,700,000 Raw Materials 60,000 Work in Process (includes Factory Overhead applied of $72,000) 200,000 Finished Goods (includes Factory Overhead applied of $360,000) 1,000,000 Cost of Goods Sold (includes Factory Overhead applied of $1,008,000) 2,800,000 Compute the Factory Overhead rate. Computer the under or over-applied Factory Overhead. Assume the variance is material, what is the adjustment of the Cost of Goods Sold?