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can someone please help me with question 2!! 1. Ming Industries, a small family-run manufacturer, has adopted an ABC system. The following manufacturing activities, indirect
can someone please help me with question 2!!
1. Ming Industries, a small family-run manufacturer, has adopted an ABC system. The following manufacturing activities, indirect manufacturing costs, and usage of cost drivers have been estimated for the year. HClick the icon to view activities, total costs, and cost drivers.) During May Evan and Allison Ming machined and assembled Job 242. Evan worked a total of 10 hours on the job, while Alison worked 5 hours on the job Evan is paid a $25 per hour wage rate, while Allison is paid $30 per hour because of her additional experience level. Direct materials requisitioned for Job 242 totaled $1,025. The following additional information was collected on Job 242. The job required 3 machine setups, 5 machine hours, and 3 quality control tests Compute the activity cost allocation rates for the year 2. Complete the job cost record for Job 242 Quality control 387.000 4,300 90 por QC test 2. Complete the following job cost record for Job 242 Job Cost Record Manufacturing JOB 242 Costs Direct material Direct labor Manufacturing overhead. Total cost 5 Enter any number in the edit fields and then click Check Answer as adopted an ABC system. The following manufacturing activities, indirect manufacturing costs, and usage of cos cost drivers.) ssembled evel. Dired Evan is pa - X pollected o 0 Data Table the year. 2. Activity Machine setup Machining .. Quality control Estimated Total Manufacturing Estimated Total Overhead Costs Usage of Cost Driver 133,400 2,900 setups 980,000 4,900 machine hours 387,000 4,300 tests run $ $ BA Print Done ck Check Answer 1. 2 Compute the activity cost allocation rates for the year. Complete the job cost record for Job 242. 1. Compute the activity cost allocation rates for the year. (Round your answers to the nearest whole dollar.) First determine the formula to compute the allocation rate for the activity-based cost rate, then calculate the rate for each activity. Total manufacturing overhead Est. total use of cost driver - Activity cost allocation rate Machine setups $ 133,400 1 2,900 $ 46 per setup Machining 980,000 4,900 $ 200 per machine hour Quality control 387,000 4,300 $ 90 per QC test $ 2. Complete the following job cost record for Job 242. Job Cost Record Manufacturing Costs JOB 242 Direct material Direct labor... Manufacturing overhead Total job cost Step by Step Solution
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