Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

#1 & #2 eBook Calculator Single Plantwide Factory Overhead Rate Nixon Machine Parts Inc.'s Fabrication Department incurred $124,000 of factory overhead cost in producing gears

#1 & #2
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
eBook Calculator Single Plantwide Factory Overhead Rate Nixon Machine Parts Inc.'s Fabrication Department incurred $124,000 of factory overhead cost in producing gears and sprockets. The two products consumed a total of 6,200 direct machine hours. Of that amount, sprockets consumed 3,100 direct machine hours. Determine the total amount of factory overhead that should be allocated to sprockets using machine hours as the allocation base. If required, round your answer to the nearest dollar. Instructions Mozart Music Inc, makes three musical instruments: trumpets, tubas, and trombones. The budgeted factory overhead cost is $186,720.00. Factory overhead is allocated to the three products on the basis of direct labor hours. The products have the following budgeted production volume and direct labor hours per unit: Direct Labor Hours per Unit Trumpets Budgeted Production Volume (in units) 2,110 820 1,430 0.70 Tubas 1.45 Trombones 1.40 Required: a. Determine the single plantwide factory overhead rate. Round your answers to the nearest cont b. Use the factory overhead rate in (a) to determine the amount of total and per-unit factory overhead allocated to each of the three products. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Round your answers to the nearest cent New Tab Instructions Amount Descriptions Overhead Amount Descriptions Amount Descriptions Assembly Fabrication Trombones Trumpets Tubas Total Instructions Amount Descriptions Overhead Overhead a. Determine the single plantwide factory overhead rate. Round your answers to the nearest cent per direct labor hour b. Use the factory overhead rate in (a) to determine the amount of total and per-unit factory overhead allocated to each of the three products Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Round your answers to the nearest cent Total Factory Overhead Cost Per Unit Factory Overhead Cost

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing and Assurance services an integrated approach

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan

16th edition

978-0134075754, 134075757, 134065824, 978-0134065823

More Books

Students also viewed these Accounting questions

Question

What formulas should I use to get the answers for the cells

Answered: 1 week ago