Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Foundational (LO4-1, LO4-2, LO4-3, L04-4] Greenwood Company manufactures two products--14,000 units of Product Y and 6,000 units of Product Z. The company uses a plantwide

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Foundational (LO4-1, LO4-2, LO4-3, L04-4] Greenwood Company manufactures two products--14,000 units of Product Y and 6,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Activity Cost Pool Machining Machine setups Production design General factory Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Estimated Overhead Cost $ 209,000 $ 171,100 $ 93.000 $ 259,000 Expected Activity 10.000 MH 290 setups 2 products 10,000 DLHS Product & Activity Measure Machining Number of setups. Number of products Direct labor. hours Product 5,900 SO 1 15.900 1,100 200 1 1.100 Foundational 4.9 9. Using the ABC system how much total manufacturing overhead cost would be assigned to product Y? (Round your intermediate calculations to 2 decimal places. Round your answers to the nearest dollar amount) Foundational 4-10 10. Using the ABC system how much total manufacturing overhead cost would be assioned to Product Z? (Round your intermediate calculations to 2 decimal places. Round your answers to the nearest dollar amount) Total manufacturing over Foundational 4.11 1. Using the plantwide over rate what percentage of the total overhead cost is located to Product and Product 2? (Round your intermediate colculations to 2 decimal places. Round your answers to 2 decimal places) Product Product Foundational 4.12 2. Uso the Abystem what percentage of the Machining costs is assigned to product and Product 2 (Round your intermediate calculations to 2 decimal places. Round your answers to 2 decimal places.) Product 2 Foundational 4-13 13. Using the ABC system what percentage of Machine Setups cost is assigned to product Y and Product Z? (Round your intermediate calculations to 2 decimal places. Round your answers to 2 decimal places.) Product Y Product Machines COM Foundational 4-14 14. Using the ABC system what percentage of the Product Design cost is assigned to Product Y and Product Z? (Round ya to 2 decimal places) Product Product 2 Foundational 4-15 15. Using the ABC system, what percentage of the General Factory cost is assigned to product and Product 2? (Round intermediate calculations and final answers to 2 decimal places.) Product Product Z General factory cos

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Sound Investing, Chapter 8 - Revenue Hoaxes

Authors: Kate Mooney

3rd Edition

007171930X, 9780071719308

More Books

Students also viewed these Accounting questions