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Answer part 1,2 and 3 ignore my handwriting Exercise #1 : The following selected data were taken from the accounting records of Metcalf Manufacturing. T
Answer part 1,2 and 3 ignore my handwriting
Exercise #1 : The following selected data were taken from the accounting records of Metcalf Manufacturing. T compan y uses direct-labor hours as its cost driver for overhead costs Direct-LaborManufacturing MonthHours Overhead January 23,000 454,000 February 30,000 March 34,000 April 26,000 25,000 June28,000 517,000 586,000 499,500 480,000 515,000 March's costs consisted of machine supplies ($102,000), depreciation ($15,000), and plant maintenance ($469,000). These costs exhibit the following respective behavior: variable, fixed, and semi-variable The manufacturing overhead figures presented in the preceding table do not include Metcalf s supervisory labor cost, which is step-fixed in nature. For volume le supervisory labor amounts to $45,000. The cost is $90,000 from 15,000-29,999 h when activity reaches 30,000 hours or more vels of less than 15,000 hours ours and $135,000 Required 1. Determine the machine supplie scost and depreciation for January 2. Using the high-low method, analyze Metcalf's plant maintenance cost and calculate the monthly fixed portion and the variable cost per direct-labor hour 3. Assum e that present cost behavior patterns continue into the latter half of the year. Estimate the total amount of manufacturing overhead the company can expect in November if 29,500 direct-labor hours are workedStep by Step Solution
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