E4-16 (Algo) Calculate Total Manufacturing Costs and Gross Profit [LO 4-4) 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 Washis. Prossing 5 Filtering (UPF) Bottling Total Activity Cost Cost Driver $1,821,200 Washing, Pressing, and Filtering hours $1,025,000 Number of bottles Standard 47,800 hours 328,000 bottles Extra Virgin 109,200 hours 02.000 bottles Additional information about each grade of olive oil is as follows: Grade Standard Extra Virgin Direct Direct Sales Materials Labor Revenue Coats Costa 65,170,000 $900,000 $375,000 $2,800,000 $600.000 $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 1 Required 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.) Standard Activity for Overhead Standard assigned to Standard Extra Virgin Overhead Activity for Extra Virgin assigned to Extra Virgin Activity Activity Rate WPF Botting Total ol $ 0 E4-16 (Algo) Calculate Total Manufacturing Costs and Gross Profit (LO 4-4) 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 Washing, Pressing & Filtering (WPF) Bottling Total Activity Coat Cost Driver $1,821,200 Washing, Dressing and Filtering hours $1,025,000 Number of bottles Standard 47,800 hours 328,000 bottles Titra virgin 109,200 hours 62,000 bottles Additional information about each grade of olive oil is as follows: Direct Direct Sales Materials Labor Grade Revenue Costa Costs Standard $5,170,000 $900,000 $375,000 Extra Virgin $2,800,000 $600,000 $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 I Required Determine total manufacturing cost for each product Standard Extra Virgin Direct Materials Direct Labor ABC Overhead Total manufacturing costs $ 05 (Required 2 Required 4 > E4-16 (Algo) Calculate Total Manufacturing Costs and Gross Profit [LO 4.4) 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 Washing, Pressing Filtering (PP) Bottling Total Activity Cont Cost Driver $1,121,200 Washing, Presing, And Filtering hours $1,025,000 Number of bottles standard 47,800 hours 328,00 bottles ta Ving 109,200 hours 12.00 bottles Additional information about each grade of olive oil is as follows: Grade Standard Extra Virgin Direct Direct Materiale Labor Revenue Coute Coute $5,170,000 $900,000 $375,000 32,100,000 $600,000 $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 1 Required 2 Required Required Calculate the gross profit for each product Standard Extra Virgin Revenue Cost of goods sold Gross Profit 5 os
