E4-16 (Algo) Calculate Total Manufactuing Costs and Gross Profit

Chapter 4 Homework 7 E4-16 (Algo) Calculate Total Manufacturing Costs and Gross Profit [LO 4-4) 187 point Rosehut Olive Oil Company makes two grades of olive oil standard and extra virgin Rosehut has identified two activity cost pools, the related costs per pool, the cost driver for each pool and the expected usage for each pool Activity Heshing, Pressing & Flitering (PP) Bottling Total Activity Cost Cost Driver $1,694,000 Washing, Pressing and Filtering hours $ 750,500 Number of bottles Standard 46,600 hours 316,000 bottles Extra Viral 187,40 Dours 9.00 bottles took Additional information about each grade of olive oil is as follows: Pro Grade Standard Extra Virgin Sales evenue 55,140,000 $2.500, eee Direct Materials Costs $900,000 5600,000 Direct Labor Costs $375,000 $150,000 References Required: 1. Calculate the activity rate for each cost pool 2 Using the activity rates, determine the total amount of overhead assigned to each product 3. Determine total manufacturing cost for each product 4. Calculate the gross profit for each product Complete this question by entering your answers in the tabs below. Required Reguwed 2 Required 3 Required 4 Calculate the activity rate for each cost pool. (Round your answers to 2 decimal places) Cost Pool Activity Washing Pressing & Fitering (WPF) Hottling Der hour per bottle Required 2 > E4-16 (Algo) Calculate Total Manufacturing Costs and Gross Profit (LO 4-4) 1.87 Rosehut Olive Of Company makes two grades of olive oil standard and extra virgin Rosehut has identified two activity cost pools, the related costs per pool, the cost driver for each pool, and the expected usage for each pool. Total Activity Activity Cost Cost Driver 5tandard Extra Virgin Washine, Pressing & Filtering (UPF) $1,694,800 Washing, Pressing, and Filtering hours 46,620 hours 107,400 hours Bottling $ 750,5e Number of bottles 316, eda bottles 79,eee bottles abook Additional information about each grade of olive oil is as follows Grade Standard Extra Virgin Sales Revenue $5,140,000 $2,500,000 Direct Materials Costs $900,000 5600,000 Direct Labor Costs 5375,00 $150,000 Hoferences Required: 1. Calculate the activity rate for each cost pool 2. Using the activity rates, determine the total amount of overhead assigned to each product 3. Determine total manufacturing cost for each product 4. Calculate the gross profit for each product Complete this question by entering your answers in the tabs below. Required 1 Requded 2 Required 3 Required 4 Using the activity rates, determine the total amount of overhead assigned to each product. (Round activity rates to 2 decimal places) Standart Overhead Motivy fog Standard assigned to Standard Extra Virgin Activity for Overhead asigned to Extra Virgin Extra Virgin Acht Activity Rate WPF Botting Total fatal Period Chapter 4 Homework Sav 7 E4-16 (Algo) Calculate Total Manufacturing Costs and Gross Profit (LO 4-4) 187 Bessehut Olive Os Corpany makes two grades of olive oil: standard and extra virgin Rosehut has identified two activity cost pools, the related costs per pool the cost driver for each pool and the expected usage for each pool Activity washing. Pressing & Filtering (WPF) Bottling Total Activity Cost Cost Driver 51,694,000 Washing, Pressing, and Filtering hours $ 750,500 Member of bottles pulook Standard 46,600 hours 316, ce bottles Extra Virgin 107,400 hours 79,000 bottles Him Additional Information about each grade of olive oil is as follows Grade Standard Extra Virgin Soles Revenue $5,140,000 $2,500,000 Direct Materials Costs 5900,000 5600,000 Direct Labor Casts 5375,000 $150,000 Required: 1. Calculate the activity rate for each cost pool 2. Using the activity rates, determine the total amount of overhead assigned to each product 3. Determine total manufacturing cost for each product 4. Calculate the gross profit for each product Complete this question by entering your answers in the tabs below. Required: Required 2 Required Required 4 Determine total manufacturing cost for each product Standard Extra Virgen Direct Materials Direct Labor ARC Overhead Total anutacluring costs 7 E4-16 (Algo) Calculate Total Manufacturing Costs and Gross Profit (LO 4-4) 187 point Rosenut Olive Oil Company makes two grades of olive oil standard and extra virgin, Rosehut has identified two activity cost pools, the related costs per pool, the cost driver for each pool, and the expected usage for each pool Total Activity Activity Cost Cost Driver Standard Extra Virgin Washing, Pressing & Filtering (UPF) $1,694,000 Washing, Pressing and Filtering hours 46,600 hours 107,400 hours Bottling $750, 50e Number of bottles 316,000 bottles 79.00 bottles toak Hint Additional information about each grade of olive oil is as follows: Print Grade Standard Extra Virgin Direct Direct Sales Materials Labor Revenue Costs Costs 55,140,000 $900,000 $375,000 $2,500,000 $600,000 $150,000 Refrences Required: 1. Calculate the activity rate for each cost pool 2. Using the activity rates, determine the total amount of overhead assigned to each product 3. Determine total manufacturing cost for each product 4. Calculate the gross profit for each product Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the gross profit for each product Standard Extra Virgin Revenue Cost of goods gold Gross Prati