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Good evening, I am needing help with the following questions for these assignments. Please advise. 1. HW 4 i Saved Munoz Manufacturing Company produced 2,400
Good evening,
I am needing help with the following questions for these assignments. Please advise.
1.
HW 4 i Saved Munoz Manufacturing Company produced 2,400 units of inventory in January Year 2. It expects to produce an additional 8,600 units during the remaining 11 months of the year. In other words, total production for Year 2 is estimated to be 11,000 units. Direct materials and direct labor costs are $75 and $62 per unit, respectively. Munoz expects to incur the following manufacturing overhead costs 14.28 during the Year 2 accounting period. points Production supplies $ 6,000 Supervisor salary 186,000 Depreciation on equipment 141, 000 Utilities 27,900 eBook Rental fee on manufacturing facilities 187, 250 Required Print a. Combine the individual overhead costs into a cost pool and calculate a predetermined overhead rate assuming the cost driver is number of units. b. Determine the cost of the 2,400 units of product made in January. References Complete this question by entering your answers in the tabs below. Required A Required B Combine the individual overhead costs into a cost pool and calculate a predetermined overhead rate assuming the cost driver is number of units. Note: Round your answer to 2 decimal places. Predetermined overhead rate per unit Munoz Manufacturing Company produced 2,400 units of inventory in January Year 2. It expects to produce an additional 8,600 units during the remaining 11 months ofthe year. In other words, total production for Year 2 is estimated to be 11,000 units. Direct materials and direct labor costs are $75 and $62 per unit, respectively. Munoz expects to incur the following manufacturing overhead costs during the Year 2 accounting period. Production supplies 5 6,666 Supervisor salary 186,666 Depreciation on equipment 141,666 Utilities 2?,666 Rental fee on manufacturing facilities 18?,256 Required a. Combine the individual overhead costs into a cost pool and calculate a predetermined overhead rate assuming the cost driver is number of units. In. Determine the cost ofthe 2,400 units of product made in January. Complete this question by entering your answers in the tabs below. Required A Required B Determine the cost of the 2,400 units of product made in January. Indirect overhead costs Direct materials Direct labor Total Finch Chemical Company makes three products, B7, K6, and X9, which are joint products from the same materials. In a standard batch of 336,700 pounds of raw materials, the company generates 72,000 pounds of B7, 166,800 pounds of K6, and 97,900 pounds of X9. A standard batch costs $3,367,000 to produce. The sales prices per pound are $10, $15, and $20 for B7, K6, and X9, respectively. Required a. Allocate the joint product cost among the three final products using weight as the allocation base. b. Allocate the joint product cost among the three final products using market value as the allocation base. Complete this question by entering your answers in the tabs below. Required A Required B Allocate the joint product cost among the three final products using market value as the allocation base. Note: Round "Allocation rate" to 2 decimal places Product Allocation Rate |x Weight of Base = Allocated Cost B7 X = K6 X X9 X Total allocated costStep by Step Solution
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