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Above are the correct answers. Please explain/show calculations for each numeral answer. Thank you! (I will be solving a similar problem) X A Data Table

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Above are the correct answers. Please explain/show calculations for each numeral answer. Thank you! (I will be solving a similar problem)

X A Data Table $ Spear Boards Budgeted Costs for the Year Ended December 31, 2020 Direct materialsBasic boards Direct materialsCompetition boards Direct manufacturing laborBasic boards Direct manufacturing labor-Competition boards Machine setup costs Machine maintenance and utility costs Indirect labor costs Facility rent Machine depreciation 138,000 369,600 211,200 844,800 255,000 570,500 316,800 227,500 65,000 Print Done X Data Table Other information: Basic 4,600 29,000 Competition 8,400 52,500 Units produced Machine hours Number of setups Direct labor-hours 700 1,000 19,200 76,800 Print Done Spear Boards manufactures two models of surfboards, Basic and Competition, in a facility in Southern California. In fabrication, machine setup costs are driven by the number of setups, machine maintenance and utility costs increase with the number of machine hours, and indirect labor costs increase with direct labor hours. Facility rent and machine depreciation are fixed, and are the basis of manufacturing capacity. Fixed costs are allocated equally to each unit produced, regardless of model. Currently, Spear uses 80% of its manufacturing capacity. The cost of unused capacity is not assigned to products, but is expensed as a separate line item. For 2020, Spear has budgeted the following: E: (Click the icon to view the budgeted information.) .(Click the icon to view other information.) Read the requirements Requirement 1. Calculate the cost-allocation rate for each of the activity-cost pools for variable and fixed overhead costs. Select the formula you will use, then calculate the cost driver rate. (Round the cost driver rates to the nearest cent, $X.XX. "Machine maint & util" = "Machine maintenance and utility costs".) Cost Total quantity of cost driver Cost driver rate Machine setups $ 255,000 1,700 = $ 150.00 per setup Machine maint & util $ 570,500 81,500 $ 7.00 per machine-hour Indirect labor costs $ 316,800 96,000 $ 3.30 per direct labor hour Facility rent $ 182,000 13,000 $ 14.00 per unit produced Depreciation $ 52,000 13,000 4.00 per unit produced Requirement 2. Calculate the cost of unused capacity for the year. The cost of unused capacity for the year = $ 58,500 Requirement 3. Calculate the budgeted total cost and the cost per unit for each model. (Use the rates calculated in Requirement 1, as needed, for your computations, and round all total cost amounts to the nearest whole dollar. Enter the cost per unit amounts to the nearest cent, $X.XX.) Competition 369,600 Direct materials $ Direct manufacturing labor Machine setup costs Machine maintenance and utilities Basic 138,000 $ 211,200 150,000 203,000 844,800 105,000 367,500 253,440 117,600 33,600 Indirect labor 63,360 Facility rent 64.400 18,400 Machine depreciation Budgeted total cost 848,360 $ 4,600 2,091,540 8,400 Number of units 184.43 $ 248.99 Budgeted cost per unit Requirement 4. Spear has the opportunity to sublease the unused factory space to a startup company that will be manufacturing surf apparel. None of Spear's machinery will be used. Is there a minimum annual rent that Spear should charge? Are there any other considerations that Spear's management should make prior to offering the space? Start by determining the cost of the unused factility rent. The cost of unused facility rent for the year = $ 45,500 The cost of unused facility rent identified in the preceding step is not the minimum rate that Spear should charge for the use of the space. The facility rent is a fixed cost, which is sunk, and should have no bearing in the decision to sublet the space. Any amount of rent that Spear could bring in would be beneficial. Before subletting the space, though, Spear's management should look at possible future increases in their own production

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