BLP, Inc. manufactures two high quality tents, a Standard model and a Deluxe model. There are two departments through which manufacturing of the tents is accomplished, (1) Molding and (2) Assembly and Packaging. The following provides more details about this business for 2022: Standard 20,000 $150 10,000 20,000 Units produced and sold Sales price per unit Direct labor hours Molding Direct labor hours - Assembly and Packaging Machine hours - Molding Direct labor rate DM cost Deluxe 10,000 $200 5,000 10,000 12,000 $20/DLH $40/unit 10,000 $20/DLH $60/unit Molding Assembly and Packaging $562,500 $787,500 Manufacturing overhead costs (all currently assumed to be fixed) Total selling and administrative expenses are $1,200,000. Pre-determined overhead rate based on direct labor hours Estimated overheads $1,350,000 $30.00 Estimated Direct labor hours 45,000 Per direct labor hour Direct labor hours Overhead rate Manufacturing overhead allocated Standard tents 30,000 $30.00 $900,000 Deluxe tents 15,000 a $30.00 6 $450,000 a*b (a) Standard tents 30,000 20,000 1.50 (b) Deluxe tents 15,000 a 10,000 b 1.50 a/b Direct labor hours Total units Direct labor hours per unit (a) Standard tents $40 (b) Deluxe tents $60 $30 1.50*$20 $45 1.50*$30 $1351 Direct materials Direct labor Overhead applied Unit product cost $30 $45 $115 Units sold Unit product cost Total cost of goods sold (a) (b) Standard Deluxe tents tents 20,000 10,000 a $115 $135 b $2,300,000 $1,350,000 a*b 6) BLP, Inc. allocates selling and administrative expenses to products based on sales dollars. Given this additional information, how much selling and administrative expense should be allocated in total to a) Standard tents b) Deluxe tents 7) Given your calculations above, prepare a traditional format income statement for BLP, Inc. for 2022 by segment and in total. 8) Instead of allocating total manufacturing overhead to each of the two products using a plantwide rate, you are instead considering allocating the manufacturing overhead using departmental rates. For the Molding Department, allocation will be based on machine hours. For the Assembly and Packaging Department, allocation will be based on direct labor hours. Calculate the departmental rates for each of the two departments (ROUND to 4 decimal places $XX.XXXX) a) Molding Department rate b) Assembly and Packaging Department rate 9) Given the rates calculated in the prior question, determine how much overhead will be allocated in total to a) Standard tents b) Deluxe tents 10) Calculate the number of Molding machine hours (MHS) that are required per unit for a) Standard tents b) Deluxe tents 11) Calculate the number of Assembly and Packaging direct labor hours (DLHs) that are required per unit for a) Standard tents b) Deluxe tents 12) Using the departmental MOH allocation method, calculate the product cost per unit for c) Standard tents d) Deluxe tents 13) Prepare a segmented traditional format income statement for 2022 given the new allocations. All other details remain the same