Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can anyone show me the steps on figuring this out? overhead related to machine-hours. The analysis of overhead accounts by the cost accountant follows: Manufacturing

can anyone show me the steps on figuring this out?
image text in transcribed
image text in transcribed
overhead related to machine-hours. The analysis of overhead accounts by the cost accountant follows: Manufacturing Overhead Utilities Supplies Training Supervision Machine depreciation Plant depreciation Miscellaneous Overhead Estimate $ 1,600 4,900 9,800 24,800 28,000 28,900 113,380 Cost Pool Assignment Machine-hour related Direct labor cost related Direct labor cost related Direct labor cost related Machine-hour related Machine-hour related Direct labor cost related Required: b. Compute the product costs per unit assuming that Tiger Furnishings uses direct labor costs and machine-hours to allocate overhead to the products. (Do not round intermediate calculations. Round your final answers to the nearest whole number.) Basic Dominator Total Product Costing Direct material Direct labor Overhead Machine-related Labor related Total Overhead Total cost Units produced Unit cost 0 $ $ $ 0 $ 0 $ 0 0 0 5 Tiger Furnishings produces two models of cabinets for home theater components, the Basic and the Dominator. Data on operations and costs for March follow: Units produced Machine-hours Direct labor-hours Direct materials costs Direct labor costs Manufacturing overhead costs Total costs Basic 1,300 3,400 3.600 $15,000 64,000 Dominator 410 3,100 2,900 $ 5,350 56,000 Total 1,710 6,500 6,500 $ 20,350 120,00 211,380 $351,730 ook Tint Tences Tiger Furnishings's CFO believes that a two-stage cost allocation system would give managers better cost information. She asks the company's cost accountant to analyze the accounts and assign overhead costs to two pools overhead related to direct labor cost and overhead related to machine hours. The analysis of overhead accounts by the cost accountant follows: Overhead Manufacturing Overhead Estimate Cost Pool Assignment Utilities $ 1,600 Machine hour related Supplies 4,900 Direct labor cost related Training Direct labor cost related Supervision 24,800 Direct labor cost related Machine depreciation 28,000 Machine-hour related Plant depreciation 28,900 Machine hour related Miscellaneous 113,30 Direct labor cost related Required: b. Compute the product costs per unit assuming that Tiger Furnishings uses direct labor costs and machine hours to allocate overhead to the products. (Do not round Intermediate calculations. Round your final answers to the nearest whole number.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

An Introduction To Statistical Sampling In Auditing

Authors: Dan M. Guy

1st Edition

0471042323, 978-0471042327

More Books

Students also viewed these Accounting questions