Exercise 11-10A Smoothed unit cost LO 11-2 Gibson Manufacturing estimated its product costs and volume of production for 2019 by quarter as follows Direct raw materials Direct labor Manufacturing overhead Total production coata Expected units produced Firat Quarter $ 90,000 54,000 100,000 $249,000 18.000 Second Quarter S 50,000 30,000 144.000 $224,000 10,000 Third Quarter $130,000 78,000 180.000 $388,000 26,000 Youth Quarter $70,000 42,000 228, 800 $340,000 14,000 Gibson Company sells a souvenir item at various resorts across the country. Its management uses the product's estimated quarterly cost to determine the selling price of its product. The company expects a large variance in demand for the product between quarters due to its seasonal nature. The company does not expect overhead costs, which are predominately fixed, to vary significantly as to production volume or with amounts for previous years. Prices are established by using a cost-plus pricing strategy. The company finds variations in short-term unit cost confusing to use Unit cost variations complicate pricing decisions and many other decisions for which cost is a consideration, Required a. Based on estimated total production cost, determine the expected quarterly cost per unit for Gibson's product b-1. Calculate the predetermined overhead rate b-2. Calculate the unit cost per quarter based on the predetermined overhead rate. Complete this question by entering your answers in the tabs below. Required A Required 01 Required B2 Based on estimated total production cost, determine the expected quarterly cost per unit for Gibson's product. (Round your answers to 2 decimal places) First Quarter Second Quarter Estimated cost Third Quarter perunt Fourth Quarter per unit per unit per unit with Exercise 11-10A Smoothed unit cost LO 11-2 Gibson Manufacturing estimated its product costs and volume of production for 2019 by quarter as follows: Direct raw materials Direct labor Manufacturing overhead Total production costs Expected units produced Fiat Quarter $ 90,000 59,000 100,000 $249.000 18.000 Second Quarter $ 50,000 30,000 144,000 $224.000 10,000 Third Quarter $130,000 78,000 100,000 $350,000 26.000 Eourth Quarter $ 70,000 42.000 228.800 $340, 800 14,000 Gibson Company sells a souvenir item at various resorts across the country. Its management uses the product's estimated quarterly cost to determine the selling price of its product. The company expects a large variance in demand for the product between quarters due to its seasonal nature. The company does not expect overhead costs, which are predominately fixed, to vary significantly as to production volume or with amounts for previous years. Prices are established by using a cost-plus pricing strategy. The company finds variations in short-term unit cost confusing to use Unit cost variations complicate pricing decisions and many other decisions for which cost is a consideration Required a. Based on estimated total production cost determine the expected quarterly cost per unit for Gibson's product b-1. Calculate the predetermined overhead rate b-2. Calculate the unit cost per quarter based on the predetermined overhead rate. Complete this question by entering your answers in the tabs below. Required A Required B1 Required 82 Calculate the predetermined overhead rate. (Round your answer to 2 decimal places) Predetermined overhead rate per unit Exercise 11-10A Smoothed unit cost LO 11-2 Gibson Manufacturing estimated its product costs and volume of production for 2019 by quarter as follows: Direct raw materials Direct labor Manufacturing overhead Total production costa Expected units produced First Quarter $ 90,000 54,000 100,000 $249,000 18,000 Second Quarter $ 50,000 30,000 149,000 $224,000 10,000 Third Quarter $130,000 78,000 180,000 $388,000 26.000 Fourth Quarter $ 70,000 42,000 228,000 $340,000 14,000 Gibson Company sells a souvenir item at various resorts across the country. Its management uses the product's estimated quarterly cost to determine the selling price of its product. The company expects a large variance in demand for the product between quarters due to its seasonal nature. The company does not expect overhead costs, which are predominately fixed, to vary significantly as to production volume or with amounts for previous years. Prices are established by using a cost.plus pricing strategy. The company finds variations in short-term unit cost confusing to use Unit cost variations complicate pricing decisions and many other decisions for which cost is a consideration Required o. Based on estimated total production cost determine the expected quarterly cost per unit for Gibson's product b-1. Calculate the predetermined overhead rate. b-2. Calculate the unit cost per quarter based on the predetermined overhead rate. Complete this question by entering your answers in the tabs below. Required A Required B1 Required B2 Calculate the unit cost per quarter based on the predetermined overhead rate. (Round your intermediate calculations and final answers to 2 decimal places.) First Quarter Second Quarter Third Quarter Fourth Quarter Cost per unit Required B