Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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
image text in transcribed
image text in transcribed
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: Estimated Activity Cost Pool Activity Measure overhead cost Expected Activity Machining Machine-hours $ 206,000 10,000 MHS Machine setups Number of setups $ 145,600 260 setups Production design Number of products $ 90,000 2 products General factory Direct labor-hours $ 307,200 12,000 DLHS Activity Measure Product Y Product 2 Machining 8,600 1,400 Number of setups Number of products Direct labor-hours 8,600 3,400 50 1 210 1 Foundational 4-2 (Algo) . Using the plantwide overhead rate, how much manufacturing overhead cost is allocated to Product Y and Product Z? (Round your termediate calculations to 2 decimal places. Round your answers to the nearest dollar amount.) Product Y Profluctz Manufacturing overhead allocated Greenwood Company manufactures two products14,000 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 2 Activity Cost Pool Machining Machine setups Production design General factory Activity Measure Machining Number of setups Number of products Direct labor-hours Estimated Activity Measure Overhead Cost Expected Activity Machine-hours $ 206,000 10,000 MHS Number of setups $ 145,600 260 setups Number of products $ 90,000 2 products Direct labor-hours $ 307,200 12,000 DLHS Product Y Product z 8,600 1,400 50 210 1 1 8,600 3,400 Foundational 4-3 (Algo) 3. What is the activity rate for the Machining activity cost pool? (Round your answer to 2 decimal places.) Activity rate per MH 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 Machining Number of setups Number of products Direct labor-hours Estimated Activity Measure Overhead Cost Expected Activity Machine-hours $ 206,000 10,000 MHS Number of setups $ 145,600 260 setups Number of products $ 90,000 2 products Direct labor-hours $ 307,200 12,008 DLHS Product Product z 8,600 1,400 50 210 1 1 8,680 3,400 Foundational 4-4 (Algo) 4. What is the activity rate for the Machine Setups activity cost pool? per setup Activity rate 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: Estimated Activity Cost Pool Activity Measure Overhead Cost Expected Activity Machining Machine-hours 10,000 MHS $ 206,000 Machine setups Number of setups $ 145,600 260 setups Production design Number of products $ 90,000 2 products General factory Direct labor-hours $ 307,200 12,eee LHS Activity Measure Product Y Product z Machining 8,600 1,400 Number of setups 50 210 Number of products 1 1 Direct labor-hours 8,600 3,400 Foundational 4-9 (Algo) 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.) Total manufacturing overhead cost 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 2: Estimated Activity Cost Pool Activity Measure Overhead Cost Expected Activity Machining Machine-hours $ 206,000 10,000 MHS Machine setups Number of setups $ 145,600 26 setups Production design Number of products $ 90,000 2 products General factory Direct labor-hours $ 307,200 12,000 bus Activity Measure Product Y Product 2 Machining 8,600 1,400 Number of setups 210 Number of products Direct labor-hours 8,600 3,400 50 1 1 Foundational 4-10 (Algo) 10. Using the ABC system, how much total manufacturing overhead cost would be assigned to Product Z? (Round your intermediate calculations to 2 decimal places. Round your answers to the nearest dollar amount.) Total manufacturing overhead cost 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 Machining Number of setups Number of products Direct labor-hours Estimated Activity Measure Overhead Cost Expected Activity Machine-hours $ 206,800 10,000 MHS Number of setups $ 145,600 260 setups Number of products $ 90,000 2 products Direct labor-hours $ 307,200 12,000 DLHS Product Y Product z 8,680 1,400 5e 210 1 1 8,600 3,400 Foundational 4-12 (Algo) 12. Using the ABC system, what percentage of the Machining costs is assigned to product and Product Z? (Round your intermediate calculations to 2 decimal places. Round your answers to 2 decimal places.) Product 2 Products % Machining cost 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 Estimated Activity Cost Pool Activity Measure Overhead cost Expected Activity Machining Machine-hours $ 206,000 10,000 MHS Machine setups Number of setups $ 145,600 260 setups Production design Number of products $ 90,000 2 products General factory Direct labor-hours $ 307,200 12,000 DHS Activity Measure Product Y Product z Machining 8,600 Number of setups 50 210 Number of products 1 Direct labor-hours 8,600 3,400 1,400 1 Foundational 4-13 (Algo) 13. Using the ABC system, what percentage of Machine Setups cost is assigned to Product and Product Z7 (Round your Intermediate calculations to 2 decimal places. Round your answers to 2 decimal places.) Product Y Product z Machine setups cost 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 Machining Number of setups Number of products Direct labor-hours Estimated Activity Measure Overhead Cost Expected Activity Machine-hours $ 206,000 10,000 MHS Number of setups $ 145,600 260 setups Number of products $ 90,000 2 products Direct labor-hours $ 307,200 12,000 DLHS Product Y Product z 8,600 1,400 Se 210 1 1 8,600 3,400 Foundational 4-14 (Algo) 14. Using the ABC system, what percentage of the Product Design cost is assigned to Product Y and Product Z? (Round your answers to 2 decimal places.) Product Y Product Product design cost 3:31:27 Greenwood Company manufactures two products --14.000 units of Product Y and 6,000 units of Product 2 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 Estimated Activity Cost Pool Activity Measure Overhead Cost Expected Activity Machining Machine-hours Machine setups $ 206,000 10,000 MHS Number of setups $ 145,600 26 setups Production design Number of products $ 90,000 2 products General factory Direct labor-hours $ 307,200 12,000 DLHS Activity Measure Product Y Product z Machining 8,600 1,400 Number of setups 50 Number of products 1 1 Direct labor-hours 8,600 3,400 DOK int 210 > inces Foundational 4-15 (Algo) 15. Using the ABC system, what percentage of the General Factory cost is assigned to Product Y and Product 27 (Round your Intermediate calculations and final answers to 2 decimal places.) Product Product z General factory cost

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

International Financial Reporting Standards ImplementationA Global Experience

Authors: Mohammad Nurunnabi

1st Edition

1801174415, 9781801174411

More Books

Students also viewed these Accounting questions

Question

Contrast compensation and overcompensation in Adlers theory.

Answered: 1 week ago