Craftmore Machining reports the following budgeted overhead cost and related data for this year. Activity Assembly Product design Electricity Setup Total Budgeted Cost $ 438,750 67,500 22,500 56, 250 $ 585,000 Activity Cost Driver Direct labor hours (DLH) Engineering hours (EH) Machine hours (MH) Setups Budgeted Activity Usage 13,000 1,350 10,000 450 Required: 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 13,000 direct labor hours. 2. Job 31 used 280 direct labor hours and Job 42 used 560 direct labor hours. Allocate overhead cost to each job using the single plantwide overhead rate from part 1. 3. Compute an activity rate for each activity using activity-based costing. 4. Allocate overhead costs to Job 31 and Job 42 using activity-based costing. 560 Activity Cost Driver Direct labor hours (DLH) Engineering hours (EH) Machine hours (MH) Setups Activity Usage Job 31 Job 42 280 31 37 52 56 4 6 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 13,000 direct labor hours. Numerator Denominator Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Job 31 used 280 direct labor hours and Job 42 used 560 direct labor hours. Allocate overhead cost to each job using the single plantwide overhead rate from part 1. Plantwide Overhead Rate Direct Labor Hours per Unit Overhead Allocated Job 31 Job 42 Compute an activity rate for each activity using activity-based costing. (Round "Activity Rate" to 2 decimal places.) Budgeted Cost Budgeted Activity Usage Activity Rate Activity Assembly Product design Electricity Setup Required 1 Required 2 Required 3 Required 4 Allocate overhead costs to Job 31 and Job 42 using activity-based costing. (Round "Activity Rate" to 2 decimal places.) Allocate overhead to Job 31 Activity Usage Activity Rate Allocated Cost Activity Assembly Product design Electricity Setup Total Allocate overhead to Job 42 ! Required information [The following information applies to the questions displayed below.) Tent Master produces Pup tents and Pop-up tents. The company budgets $336,000 of overhead cost and 56,000 direct labor hours. Additional information follows. Per Unit Pup tent Pop-up tent Selling Price $ 76 71 Direct Materials $ 20 18 Direct Labor $ 40 22 Required: 1. Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 56,000 direct labor hours. 2. Pup tents use 3 direct labor hours (DLH) per unit and Pop-up tents use 2 direct labor hours per unit. Compute the overhead cost per unit for each product. 3. Compute the product cost per unit for each product. 4. For each product, compute the gross profit per unit (selling price per unit minus the product cost per unit). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute a single plantwide overhead rate assuming the company allocates overhead cost based on 56,000 direct labor hours. Numerator Denominator Required 1 Required 2 Required 3 Required 4 Pup tents use 3 direct labor hours (DLH) per unit and Pop-up tents use 2 direct labor hours per unit. Compute the overhead cost per unit for each product. Plantwide Overhead Rate Direct Labor Hours per Unit Overhead Cost per Unit per unit Pup tent Pop-up tent per unit Required 1 Required 2 Required 3 Required 4 Compute the product cost per unit for each product. Overhead Cost Product Cost Per Unit Direct Materials Direct Labor per Unit per Unit $ 20 $ 40 Pup tent Pop-up tent 18 22 Required 1 Required 2 Required 3 Required 4 For each product, compute the gross profit per unit (selling price per unit minus the product cost per unit). (Enter any product costs in excess of selling prices as negative values.) Per Unit Selling Price Product Cost Gross Profit $ 76 Pup tent Pop-up tent 71 ! Required information (The following information applies to the questions displayed below.) Tent Master produces Pup tents and Pop-up tents. The company budgets $336,000 of overhead cost and 56,000 direct labor hours. Additional information follows. Per Unit Pup tent Pop-up tent Selling Price $ 76 71 Direct Materials $ 20 18 Direct Labor $ 40 22 Activity Assembly Electricity Materials purchasing Total Budgeted Cost $ 224,000 38,000 74,000 $ 336,000 Activity Cost Driver Direct labor hours (DLH) Machine hours (MH) Purchase orders (PO) Budgeted Activity Usage 56,000 10,000 400 Required: 1. Compute an activity rate for each activity using activity-based costing. 2. The following actual activity usage produced 10,000 Pup tents and 5,000 Pop-up tents. Allocate overhead cost to Pup tents and to Pop-up tents and compute overhead cost per unit for each product. Activity Cost Driver Direct labor hours (DLH) Machine hours (MH) Purchase orders (PO) Activity Usage Pup tents Pop-up tents 37,000 19,000 3,500 6,500 160 240 3. Compute product cost per unit for Pup tents and for Pop-up tents. 4. For each product, compute the gross profit per unit (selling price per unit minus the product cost per unit). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute an activity rate for each activity using activity-based costing. (Round "Activity Rate" to 2 decimal places.) Budgeted Cost Budgeted Activity Usage Activity Rate Activity Assembly Electricity Materials purchasing Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute an activity rate for each activity using activity-based costing. (Round "Activity Rate" to 2 decimal places.) Budgeted Cost Budgeted Activity Usage Activity Rate Activity Assembly Electricity Materials purchasing Required 1 Required 2 Required 3 Required 4 The following actual activity usage produced 10,000 Pup tents and 5,000 Pop-up tents. Allocate overhead cost to Pup tents and to Pop-up tents and compute overhead cost per unit for each product. (Round "Activity Rate" and "Overhead per unit" to 2 decimal places.) Allocate overhead to Pup tent Activity Usage Activity Rate Allocated Cost Activity Assembly Electricity Materials purchasing Total allocated cost Units produced Overhead cost per unit Allocate overhead to Pop-up tent Activity Usage Activity Rate Allocated Cost Activity Assembly Electricity Materials purchasing Total allocated cost Units produced Overhead cost per unit Required 1 Required 2 Required 3 Required 4 Compute product cost per unit for Pup tents and for Pop-up tents. (Round "Activity Rate" and final answers to 2 decimal places.) Product Cost Per Unit Direct Materials Direct Labor Overhead per Unit $ 20.00 $ 40.00 Pup tent Pop-up tent 18.00 22.00 Required 1 Required 2 Required 3 Required 4 For each product, compute the gross profit per unit (selling price per unit minus the product cost per unit). (Round "Activity Rate" and final answers to 2 decimal places. Enter any product costs in excess of selling prices as negative values.) Per Unit Selling Price Product Cost Gross Profit Pup tent $ 76.00 Pop-up tent 71.00