Answered step by step
Verified Expert Solution
Question
1 Approved Answer
a Princeton Metal Works produces two types of metal lamps. Princeton manufactures 23,000 basic lamps and 4,900 designer lamps. Its simple costing system uses a
a
Princeton Metal Works produces two types of metal lamps. Princeton manufactures 23,000 basic lamps and 4,900 designer lamps. Its simple costing system uses a single indirect-cost pool and allocates costs to the two lamps on the basis of direct manufacturing labour-hours It provides the following budgeted cost information (Click the icon to view the informatiom) Calculate the total budgeted costs of the basic and designer lamps using Princeton's simple costing system. Begin by calculating the budgeted indirect cost rate for the single indirect-cost pool. First select the formula; then enter the applicable amounts and calculate the rate. (Round the budgeted rate to the nearest dollar. Abbreviations used: MOH = Manufacturing Overhead.) Budgeted indirect manufacturing costs / Budgeted manufacturing labour hours 389,840 17,720 Budgeted MOH rate S 22 per manufacturing labour-hour Now calculate the total budgeted costs and per unit costs of the basic and designer lamps using Princeton's simple costing system. (Round all per unit amounts to two decimal places) Basic lamps Total Per unit Direct materials Direct manufacturing labour Total direct costs Indirect costs allocated Total costs
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started