Department would allocato its overhead using machine hours (MH), but the Assembly Department would allocate its ove U ULI by Jos 500 and 501 in each production department: (Click the icon to view the additional information Read the moments Requirement 1. Compute the company's current plantwide overhead rate (Round your answer to the nearest dolor.) Begin by determining the formula, then compute the rate. Plantwide overhead rate per DL hour Requirement 2. Computerefined departmental overhead ratos Determining the formula, then compute the rates (Round your answers to the nearest dollar) Machining Assembly Departmental overhead rate per mach hour per DL hour Requirement 3. Which job Job 500 or Job 501) uses more of the company's resources? Explain of the company's resources the other V machine hours than the other job. The accounting system should show that one job actually Requirement 4. Compute the total amount of overhead allocated to each job if the company uses is current plantwide overhead rate Choose from any list or enter any number in the input fields and then continue to the next question. Product and is products in the parente Maching and Assembly Total mandating svd for the year are trued 10.000 or mount Machining Department hon 800.000 Maching Department and 8,000 ny Department men for machine option and depression with Atrary Department Hours 4. The committed here to che Macturing Depart2.100 thouse Pere Products mentes de overed that andre bruce www.cocoming to the Department was to overed in the bottom line where you thing that the machine Tours and red or (D by Jobs and so in mach production department m Click the con the door info) Read more Perreth Products and is products in two parte department Machine and Assembly Total manufacturing overhead costs for the year we budgeted at $1,000,000 of the teaching Department 0.000 party for machine person and depreciation while the Department 1460.000 The company estrates that wil indoo machine hours (le Machining Decamera and 9.00 door hour 1.600 Maching Department and 1,000 in the Asembly Department during the year Perroth Products current de overhead rated on or how to sto everted However, there is considering ting the contem by wing. The Machine by Jobs 100 and in each production department Departrand would stil sing machine hour Mot the same nament would love in dructober ) hours. The flowing how the machine honden Click on to wow the one formation Read the man Requirement Compute the total wount of who led to anno e come to current partie de avere ob 100 Job 01 Techwor hours xat a location rate Overhead location Requirements. Compute the total amount of mondated to each of the condimentele Job 500 Jobs Overnat location Machining Department Overhead location. Assembly Department Total overhead location Requirement. Do both of the location systematisly ruled the resources och job? The single plantede overdraged w of overhead to both. The departments to job 501 than Job 100 du to the 1 | 0 Perut Products manufactures is products in two separate departments Machining and Assembly, Total manufacturing overhead coats for the year we bidonted wt51.050,000 of inirimarily for machine operation and depreciation) while the Assembly Department incurs $456,000. The company estimates that it will incur 4,000 machine hours (oll in the Machining Machining Department and 8,000 in the Assembly Department) during the year. Perreth Products currently uses a plantwide overhead rate based on direct labor hours to allocate overhead. However, the company is considering refining its overhead allocation syster Department would allocate its overhead using machine hours (MH), but the Assembly Department would allocate its overhead using direct labor (DL) hours. The folowing chart shows by Jobs 500 and 501 in each production department (Click the icon to view the additional Information Read the requirements Requirement 7. Compute the total manufacturing cost and sale price of each job using the company current plantwide overhead rato. (Round amount to the nearest dollar. Enter In Job 500 Job 501 Direct materials Direct labor Manufacturing overhead Total manufacturing costs Markup for pricing (96) Sales price Requirement 8. Based on the current (plantwido) allocation system, how much profit did the company think it oamed on each job? Calculate the gross profit using the current costing system Job 500 Job 501 Sales price Less: Total manufacturing costs Gross profit/loss) Choose from any list or enter any number in the input fields and then continue to the next question, (Click the icon to view the additional information.) Read the requirements Less: Total manufacturing costs Gross profit (los) Job 500 Based on the departmental overhead rates and the sales price determined in Requirement 7 how much profit did the company really earn on each job? Calculate the gross profit using the departmental rate costing system. (Use parentheses or a minus sign to show losses.) Job 501 Sales price Less: Total manufacturing costs: Direct materials Direct labor Manufacturing overhead Gross profit/ (los) Requirement 9. Compare and comment on the results you obtained in Requirements 7 and 8 When utilizing a single rate allocation method, Perreth believes that When utilizing a refined costing method, Perreth realizes that Choose from any list or enter any number in the input fields and then continue to the next question Department would allocato its overhead using machine hours (MH), but the Assembly Department would allocate its ove U ULI by Jos 500 and 501 in each production department: (Click the icon to view the additional information Read the moments Requirement 1. Compute the company's current plantwide overhead rate (Round your answer to the nearest dolor.) Begin by determining the formula, then compute the rate. Plantwide overhead rate per DL hour Requirement 2. Computerefined departmental overhead ratos Determining the formula, then compute the rates (Round your answers to the nearest dollar) Machining Assembly Departmental overhead rate per mach hour per DL hour Requirement 3. Which job Job 500 or Job 501) uses more of the company's resources? Explain of the company's resources the other V machine hours than the other job. The accounting system should show that one job actually Requirement 4. Compute the total amount of overhead allocated to each job if the company uses is current plantwide overhead rate Choose from any list or enter any number in the input fields and then continue to the next question. Product and is products in the parente Maching and Assembly Total mandating svd for the year are trued 10.000 or mount Machining Department hon 800.000 Maching Department and 8,000 ny Department men for machine option and depression with Atrary Department Hours 4. The committed here to che Macturing Depart2.100 thouse Pere Products mentes de overed that andre bruce www.cocoming to the Department was to overed in the bottom line where you thing that the machine Tours and red or (D by Jobs and so in mach production department m Click the con the door info) Read more Perreth Products and is products in two parte department Machine and Assembly Total manufacturing overhead costs for the year we budgeted at $1,000,000 of the teaching Department 0.000 party for machine person and depreciation while the Department 1460.000 The company estrates that wil indoo machine hours (le Machining Decamera and 9.00 door hour 1.600 Maching Department and 1,000 in the Asembly Department during the year Perroth Products current de overhead rated on or how to sto everted However, there is considering ting the contem by wing. The Machine by Jobs 100 and in each production department Departrand would stil sing machine hour Mot the same nament would love in dructober ) hours. The flowing how the machine honden Click on to wow the one formation Read the man Requirement Compute the total wount of who led to anno e come to current partie de avere ob 100 Job 01 Techwor hours xat a location rate Overhead location Requirements. Compute the total amount of mondated to each of the condimentele Job 500 Jobs Overnat location Machining Department Overhead location. Assembly Department Total overhead location Requirement. Do both of the location systematisly ruled the resources och job? The single plantede overdraged w of overhead to both. The departments to job 501 than Job 100 du to the 1 | 0 Perut Products manufactures is products in two separate departments Machining and Assembly, Total manufacturing overhead coats for the year we bidonted wt51.050,000 of inirimarily for machine operation and depreciation) while the Assembly Department incurs $456,000. The company estimates that it will incur 4,000 machine hours (oll in the Machining Machining Department and 8,000 in the Assembly Department) during the year. Perreth Products currently uses a plantwide overhead rate based on direct labor hours to allocate overhead. However, the company is considering refining its overhead allocation syster Department would allocate its overhead using machine hours (MH), but the Assembly Department would allocate its overhead using direct labor (DL) hours. The folowing chart shows by Jobs 500 and 501 in each production department (Click the icon to view the additional Information Read the requirements Requirement 7. Compute the total manufacturing cost and sale price of each job using the company current plantwide overhead rato. (Round amount to the nearest dollar. Enter In Job 500 Job 501 Direct materials Direct labor Manufacturing overhead Total manufacturing costs Markup for pricing (96) Sales price Requirement 8. Based on the current (plantwido) allocation system, how much profit did the company think it oamed on each job? Calculate the gross profit using the current costing system Job 500 Job 501 Sales price Less: Total manufacturing costs Gross profit/loss) Choose from any list or enter any number in the input fields and then continue to the next question, (Click the icon to view the additional information.) Read the requirements Less: Total manufacturing costs Gross profit (los) Job 500 Based on the departmental overhead rates and the sales price determined in Requirement 7 how much profit did the company really earn on each job? Calculate the gross profit using the departmental rate costing system. (Use parentheses or a minus sign to show losses.) Job 501 Sales price Less: Total manufacturing costs: Direct materials Direct labor Manufacturing overhead Gross profit/ (los) Requirement 9. Compare and comment on the results you obtained in Requirements 7 and 8 When utilizing a single rate allocation method, Perreth believes that When utilizing a refined costing method, Perreth realizes that Choose from any list or enter any number in the input fields and then continue to the next