Assignment for Chapter 4 - Google Chrome - X mylab.pearson.com/Student/PlayerTest.aspx?testld=246105618¢erwin=yes Intermediate Management Accounting 2022F Rutendo Mariga 10/09/22 1:11 PM ? = Quiz: Assignment for Chapter 4 Question 1 of 2 This quiz: 2 point(s) possible This question: 1 point(s) possible Submit quiz Destin Products uses a job-costing system with two direct cost categories (direct materials and direct manufacturing labour) and one manufacturing overhead cost pool. Destin Question list K allocates manufacturing overhead costs using direct manufacturing labour costs. Destin provides the following information: (Click the icon to view the information.) O Question 1 Required - X Information O Question 2 Requirement 3 stin's normal-costing system. Why is there no underallocated Budget for the Actuals for the First, calculate Year Year ind your answer to the nearest whole dollar.) $ 1,660,000 Under Destin's Direct manufacturing labour costs 1,700,000 $ Direct manufacturing overhead costs 3,315,000 3,320,000 Why is there no Direct material costs 2, 100,000 2,000,000 There is no und nder actual costing by multiplying the budgeted manufacturing Requirement 4 Print Done ystems. Actual-costing mount the overhead should be. Normal-costing systems cannot be dol Next Type here to search qb W 9 X talk ? 7.C A () ENG 1:12 PM 09/10/22Assignment for Chapter 4 - Google Chrome - X mylab.pearson.com/Student/PlayerTest.aspx?testld=246105618¢erwin=yes Intermediate Management Accounting 2022F Rutendo Mariga 10/09/22 1:11 PM ? = Quiz: Assignment for Chapter 4 Question 1 of 2 This quiz: 2 point(s) possible This question: 1 point(s) possible Submit quiz K Destin Products uses a job-costing system with two direct cost categories (direct materials and direct manufacturing labour) and one manufacturing overhead cost pool. Destin Question list allocates manufacturing overhead costs using direct manufacturing labour costs. Destin provides the following information: (Click the icon to view the information.) O Question 1 Required O Question 2 Requirement 1. Compute the actual and budgeted manufacturing overhead rates for the year. (Enter answers as decimals and not percentages. Round your answers to two decimal places.) Actual manufacturing overhead rate Budgeted manufacturing overhead rate 1,95 Requirement 2. Compute the cost of Job 626 using (a) an actual-costing system and (b) a normal-costing system. (Round your answers to the nearest whole dollar.) Actual Costing Normal Costing Direct materials $50,000 $50,000 Direct manufacturing labour costs $35,000 $35,000 Manufacturing overhead costs $70,000 $68,250 Total manufacturing costs of Job 626 $155,000 $153,250 Next Type here to search O qb W X talk ? 7.C A () ENG 1:12 PM 09/10/22Assignment for Chapter 4 - Google Chrome - X mylab.pearson.com/Student/PlayerTest.aspx?testld=246105618¢erwin=yes Intermediate Management Accounting 2022F Rutendo Mariga 10/09/22 1:11 PM ? = Quiz: Assignment for Chapter 4 Question 1 of 2 This quiz: 2 point(s) possible This question: 1 point(s) possible Submit quiz Destin Products uses a job-costing system with two direct cost categories (direct materials and direct manufacturing labour) and one manufacturing overhead cost pool. Destin Question list K allocates manufacturing overhead costs using direct manufacturing labour costs. Destin provides the following information: (Click the icon to view the information.) O Question 1 Required O Question 2 Requirement 3. At the end of the year, compute the underallocated or overallocated manufacturing overhead under Destin's normal-costing system. Why is there no underallocated or overallocated overhead under Destin's actual-costing system First, calculate the underallocated or overallocated manufacturing overhead under Destin's normal-costing system. (Round your answer to the nearest whole dollar.) Under Destin's normal-costing system, manufacturing overhead is underallocated by $ 83,000 Why is there no underallocated or overallocated overhead under Destin's actual-costing system? There is no underallocated or overallocated overhead under the actual-costing system because overhead is allocated under actual costing by multiplying the budgeted manufacturing labour costs and the budgeted manufacturing overhead rate. Requirement 4. Comment briefly on the advantages and disadvantages of actual-costing systems and normal-costing systems. Actual-costing systems reflect the results that occurred, while normal-costing systems reflect expectations of the amount the overhead should be. Normal-costing systems cannot be done in advance and, thus, can be used in pricing, planning, and cost management decisions. Next Type here to search O qb W X talk ? 7.C A () ENG 1:12 PM 09/10/22