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Craftmore Machining reports the following budgeted overhead cost and related data for this year. Budgeted Cost Activity Assembly Budgeted Activity Usage 13,000 Product design Activity Cost Driver $ 390,000 Direct labor hours (DLH) 60,000 Engineering hours (EH) 20,000 Machine hours (MH) 50,000 Setups Electricity 1,000 10,000 400 $ 520,000 Setup Total Required: 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 13,000 direct labor hou 2. Job 31 used 200 direct labor hours and Job 42 used 480 direct labor hours. Allocate overhead cost to each job using the si 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 (EH) Machine hours (MH) Setups Required 1 Required 2 Job 31 Job 42 Activity Usage Job 31 200 26 50 4 Complete this question by entering your answers in the tabs below. Required 3 Job 42 Required 4 480 32 60 6 Job 31 used 200 direct labor hours and Job 42 used 480 direct labor hours. Allocate overhead cost to each job using the single plantwide overhead rate from part 1. Plantwide Overhead Rate Direct Labor Hours per Unit Overhead Allocated

Craftmore Machining reports the following budgeted overhead cost and related data for this year. Budgeted Cost Activity Assembly Budgeted Activity Usage 13,000 Product design Activity Cost Driver $ 390,000 Direct labor hours (DLH) 60,000 Engineering hours (EH) 20,000 Machine hours (MH) 50,000 Setups Electricity 1,000 10,000 400 $ 520,000 Setup Total Required: 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 13,000 direct labor hou 2. Job 31 used 200 direct labor hours and Job 42 used 480 direct labor hours. Allocate overhead cost to each job using the si 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 (EH) Machine hours (MH) Setups Required 1 Required 2 Job 31 Job 42 Activity Usage Job 31 200 26 50 4 Complete this question by entering your answers in the tabs below. Required 3 Job 42 Required 4 480 32 60 6 Job 31 used 200 direct labor hours and Job 42 used 480 direct labor hours. Allocate overhead cost to each job using the single plantwide overhead rate from part 1. Plantwide Overhead Rate Direct Labor Hours per Unit Overhead Allocated

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter9: Profit Planning And Flexible Budgets
Section: Chapter Questions
Problem 63E: Use the following information for Exercises 9-63 and 9-64: Palladium Inc. produces a variety of...
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Craftmore Machining reports the following budgeted overhead cost and related data for this year. Activity Budgeted Cost Activity Cost Driver Assembly Product design $ 390,000 Direct labor hours (DLH) Engineering hours (EH) Machine hours (MH) 60,000 20,000 Budgeted Activity Usage 13,000 1,000 10,000 400 Electricity 50,000 Setups $ 520,000 Setup Total 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 200 direct labor hours and Job 42 used 480 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 (EH) Machine hours (MH) Setups Required 1 Complete this question by entering your answers in the tabs below. Required 2 Job 31 Job 42 Activity Usage Job 31 200 26 50 4 Required 3 Job 42 480 32 60 6 Required 4 Job 31 used 200 direct labor hours and Job 42 used 480 direct labor hours. Allocate overhead cost to each job using the single plantwide overhead rate from part 1. Plantwide Overhead Rate Direct Labor Hours per Unit Overhead Allocated
Transcribed Image Text:Craftmore Machining reports the following budgeted overhead cost and related data for this year. Activity Budgeted Cost Activity Cost Driver Assembly Product design $ 390,000 Direct labor hours (DLH) Engineering hours (EH) Machine hours (MH) 60,000 20,000 Budgeted Activity Usage 13,000 1,000 10,000 400 Electricity 50,000 Setups $ 520,000 Setup Total 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 200 direct labor hours and Job 42 used 480 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 (EH) Machine hours (MH) Setups Required 1 Complete this question by entering your answers in the tabs below. Required 2 Job 31 Job 42 Activity Usage Job 31 200 26 50 4 Required 3 Job 42 480 32 60 6 Required 4 Job 31 used 200 direct labor hours and Job 42 used 480 direct labor hours. Allocate overhead cost to each job using the single plantwide overhead rate from part 1. Plantwide Overhead Rate Direct Labor Hours per Unit Overhead Allocated
Craftmore Machining reports the following budgeted overhead cost and related data for this year. Budgeted Cost Activity Cost Driver Activity Assembly Product design $ 390,000 Direct labor hours (DLH) Engineering hours (EH) Machine hours (MH) 60,000 20,000 Budgeted Activity Usage 13,000 1,000 10,000 400 Electricity 50,000 Setups $ 520,000 Setup Total 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 200 direct labor hours and Job 42 used 480 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 (EH) Machine hours (MH) Setups Required 1 Required 2 Activity Usage Job 31 200 26 50 4 Numerator Denominator Job 42 Complete this question by entering your answers in the tabs below. 480 32 60 6 Required 3 Required 4 Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 13,000 direct labor hours.
Transcribed Image Text:Craftmore Machining reports the following budgeted overhead cost and related data for this year. Budgeted Cost Activity Cost Driver Activity Assembly Product design $ 390,000 Direct labor hours (DLH) Engineering hours (EH) Machine hours (MH) 60,000 20,000 Budgeted Activity Usage 13,000 1,000 10,000 400 Electricity 50,000 Setups $ 520,000 Setup Total 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 200 direct labor hours and Job 42 used 480 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 (EH) Machine hours (MH) Setups Required 1 Required 2 Activity Usage Job 31 200 26 50 4 Numerator Denominator Job 42 Complete this question by entering your answers in the tabs below. 480 32 60 6 Required 3 Required 4 Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 13,000 direct labor hours.
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