Cornell Metal Works produces two types of metal lamps. Cornell manufactures 20,000 basic lamps and 3,300 designer lamps. Its activity-based costing system uses two indirect-cost pools. One cost pool is for setup costs and the other for general manufacturing overhead. Cornell allocates setup costs to the two lamps based on setup labour-hours and general manufacturing overhead costs on the basis of direct manufacturing labour-hours. It provides the following budgeted cost (Click the icon to view the information.) information. Calculate the total budgeted costs of the basic and designer Information Begin by calculating the overhead rates for each of the two in set up costs. (Round the budgeted rate to the nearest dollar. Budgeted setup costs Basic Lamps Designer Lamps Total unts and calculate the rate. Begin with the overhead rate for Direct materials per lamp $ 15 $ 20 S 76,800 Budgeted setup ho 320 Direct manufacturing labour-hours per lamp 0.6 hours 0.8 hours Direct manufacturing labour rate per hour $ 20 $ 20 Now calculate the overhead rate for general manufacturing of Setup costs $ 76,800 Budgeted MOH costs Budgeted manufa Lamps produced per batch 200 30 $ 318,480 14 Setup-hours per batch 1 hour 2 hours General manufacturing overhead costs $ 318,480 Now calculate the budgeted direct costs of basic and designe each case calculate the totals for both types of lamps combin per unit amounts to two decimal places.) Total Basic lamps Per Print Done Direct materials 300,000 $ 240,000 12.00 52,800 16.00 292,800 Direct manufacturing labour Total direct costs 540,000 27.00 118,800 36.00 658,800 Indirect costs of activities Etext pages Calculator cation of costs for the basic and designer lamps. Lastly, in he total amounts to the nearest whole dollar and round all Clear all Check answer Cornell Metal Works produces two types of metal lamps. Cornell manufactures 20,000 basic lamps and 3,300 designer lamps. Its activity-based costing system uses two indirect-cost pools. One cost pool is for setup costs and the other for general manufacturing overhead. Cornell allocates setup costs to the two lamps based on setup labour-hours and general manufacturing overhead costs on the basis of direct manufacturing labour-hours. It provides the following budgeted cost (Click the icon to view the information.) information. Calculate the total budgeted costs of the basic and designer lamps using Comell's activity-based costing system. Now calculate the overhead rate for general manufacturing overhead. (Abbreviations used: MOH = Manufacturing Overhead. Round your answer to six decimal places, $X.XXXXXX.) S Budgeted MOH costs 318,480 Budgeted manufacturing labour hours = 14,640 $ Budgeted MOH rate 21.754 per manufacturing labour-hour Now calculate the budgeted direct costs of basic and designer lamps if Cornell allocates overhead costs in each department using activity-based costing. Then complete the indirect allocation of costs for the basic and designer lamps. Lastly, in each case calculate the totals for both types of lamps combined. (Use the general manufacturing overhead rate rounded to six decimal places, $X.XXXXXX in any calculations. Round the total amounts to the nearest whole dollar and round all per unit amounts to two decimal places.) Designer lamps Basic lamps Total Per unit Total Per unit Total Direct materials $ 300,000 $ 15.00 S 66,000 $ 240,000 12.00 52,800 20.00 $ 16.00 366,000 292,800 Direct manufacturing labour Total direct costs 540,000 27.00 118,800 36.00 658,800 Indirect costs of activities Setup of lamps General manufacturing overhead Total indirect costs allocated Total costs Etext pages Calculator Clear all Check