6. Assuming activity-cost pools are used, what are the activity-cost driver rates for design changes, setups, and inspections cost pools? a. $150 per change, $50 per setup, $4 per inspection b. $180 per change, $50 per setup, $4 per inspection C $150 per change, $64 per setup, $5 per inspection d. $150 per change $50 per setup, $5 per inspection e. $200 per change, $per setup, $50 per inspection Short Answer The following costs are attributed to the Quilt Company: Purchase of raw materials (all direct) $298,100 Direct labour cost $141,900 Manufacturing overhead costs $159,260 Inventories: Beginning raw materials $10,000 Ending raw materials $9,000 Beginning work in process $20,000 Ending work in process $14,800 Beginning finished goods $19,000 Ending finished goods $5,800 Quilt Company used a 120% predetermined overhead rate based on direct labour cost. Required: 7 Calculate the cost of goods manufactured 8. What was the cost of goods sold before adjusting for any under or over applied overhead? By how much was manufacturing overhead cost under or over applied? 9. Short Answer The following costs are attributed to the Quilt Company: Purchase of raw materials (all direct) $298,100 Direct labour cost $141,900 Manufacturing overhead costs $159,260 Inventories: Beginning raw materials Ending raw materials Beginning work in process Ending work in process Beginning finished goods Ending finished goods $10,000 $9,000 $20,000 $14,800 $19,000 $5,800 Quilt Company used a 120% predetermined overhead rate based on direct labour cost. Required: Calculate the cost of goods manufactured. What was the cost of goods sold before adjusting for any under or over applied overhead? By how much was manufacturing overhead cost under or over applied? Would the summary journal entry to close any under or over applied manufacturing overhead cost be a debit or credit to COGS? 7. 8. 9. 10. 40 IN