Check my w Exercise 2-11 Varying Plantwide Predetermined Overhead Rates (LO2-1, LO2-2, LO2-3) Kingsport Containers Company makes a single product that is subject to wide seasonal variations in demand. The company uses a job-order costing system and computes plantwide predetermined overhead rates on a quarterly basis using the number of units to be produced as the allocation base its estimated costs, by quarter for the coming year are given below Direct materials Direct labor Manufacturing overhead Total manufacturing costs Number of units to be produced (6) Estimated unit product cost () Quarter First Second Third Fourth $320,000 $160,000 5 60,000 $240,000 120.000 60,000 30,000 90,000 240.000 216.000 20.00 5800.000 5415,000 $216.000 5 80,000 40,000 60.000 5 1.50 $ 10 $15.70 5 70,000 Management finds the vanation in quarterly unit product costs to be confusing and difficult to work with it has been suggested that the problemes with manufacturing overhead because it is the largest element of total manufacturing cost Accordingly, you have been asked to find a more appropriate way of assigning manufacturing overhead cost to units of product Required 1 Assuring the estimated variable manufacturing overhead cost per uniti 5050what must be the estimated total foed manufacturing overhead cost per quarter? 2. Assuming the assumptions about cost behavior from the first three quarters hold constant, what is the estimated unit productos for the fourth quartet? 13. What is causing the estimated unit product cost to Tluctuate from one quarter to the next Management finds the variation in quarterly unit product costs to be confusing and difficult to work with. It has been suggested that the problem lies with manufacturing overhead because it is the largest element of total manufacturing cost. Accordingly, you have been asked to find a more appropriate way of assigning manufacturing overhead cost to units of product Required: 1. Assuming the estimated variable manufacturing overhead cost per unit is $0.60, what must be the estimated total fixed manufacturing overhead cost per quarter? 2. Assuming the assumptions about cost behavior from the first three quarters hold constant, what is the estimated unit product cost for the fourth quarter? 3. What is causing the estimated unit product cost to fluctuate from one quarter to the next? 4. Assuming the company computes one predetermined overhead rate for the year rather than computing quarterly overhead rates, calculate the unit product cost for all units produced during the year d Complete this question by entering your answers in the tabs below, Required 1 Required 2 Required 3 Required 4 Assuming the estimated variable manufacturing overhead cost per unit is $0.60, what must be the estimated total fixed manufacturing overhead cost per quarter? Fixed manufacturing overhead cost Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Assuming the assumptions about cost behavior from the first three quarters hold constant, what is the estimated unit product cost for the fourth quarter? (Do not round the intermediate calculations and round the Unit product cost" to 2 decimal places.) Unit product cost com 252 Swed HE 3. What is causing the estimated unit product cost to fluctuate from one quarter to the next? 4. Assuming the company computes one predetermined overhead rate for the year rather than computing quarterly overhea calculate the unit product cost for all units produced during the year. Complete this question by entering your answers in the tabs below. d Required 1 Required 2 Required 3 Required 4 Assuming the company computes one predetermined overhead rate for the year rather than computing quarterly overhead rates, calculate the unit product cost for all units produced during the year (Do not round the intermediate calculations and round the unit product cost to 2 decimal places.) Unit product com