Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Greenwood Company manufactures two products-15,000 units of Product Y and 7,000 units of Product Z. The company uses a plantwide overhead rate based on

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Greenwood Company manufactures two products-15,000 units of Product Y and 7,000 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 Activity Measure Machine-hours Number of setups Number of products Direct labor-hours. Estimated: Overhead Cost $227,700 $ 153,900 $91,000 $257,000 Product Y Product Z 8,700 60 2,300 210 1 8,700 1 1,300 Expected Activity 11,000 MHS 270 setups 2 products 10,000 DLHS 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-15,000 units of Product Y and 7,000 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 Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Estimated Overhead Cost $227,700 $ 153,900 $91,000 $ 257,000 Product Z 2,300 210 Product Y 8,700 60 1 8,700 1 1,300 Expected Activity 11,000 MHS 270 setups) 2 products 10,000 DLHS 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-15,000 units of Product Y and 7,000 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 Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Estimated Overhead Cost $ 227,700 $ 153,900 Product Y Product Z 8,700 60 2,300 210 1 8,700 1 1,300 $91,000 $ 257,000 Expected Activity 11,000 MHS 270 setups 2 products 10,000 DLHS Foundational 4-11 (Algo) 11. Using the plantwide overhead rate, what percentage of the total overhead cost is allocated to Product Y and Product Z? (Round your intermediate calculations to 2 decimal places. Round your answers to 2 decimal places.) Product Y Product Z Total overhead cost % 5 Greenwood Company manufactures two products-15,000 units of Product Y and 7,000 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 Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Product Y 8,7001 60 Estimated Overhead Cost $227,700 $ 153,900 $91,000 $257,000 Product Z 2,300 210 1 8,700 1 1,300 Expected Activity 11,000 MHS 270 setups 2 products i 10,000 DLHS Foundational 4-12 (Algo) 12. Using the ABC system, what percentage of the Machining costs 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 Z Machining cost 5 Greenwood Company manufactures two products-15,000 units of Product Y and 7,000 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. Activity Measure Machine-hours Number of setups Number of products Direct labor-hours. Product Y 8,700 60 1 8,700 Estimated Overhead Cost $227,700 $ 153,900 $91,000 $ 257,000 Product Z 2,300 210 1 1,300 Expected Activity 11,000 Ms 270 setups 2 products 10,000 DLH Foundational 4-13 (Algo) 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.) Machine setups cost Product Y Product Z Greenwood Company manufactures two products-15,000 units of Product Y and 7.000 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 Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Estimated Overhead Cost $ 227,700 $ 153,900 $91,000 $ 257,000 Product Y Product Z 8,700 60 2,300 210 1 8,700 1 1,300 Expected Activity 11,000 MH 270 setups 2 products 10,000 DLHS 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 Z Product design cost % Greenwood Company manufactures two products-15,000 units of Product Y and 7,000 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 Activity Measure Machine-hours Nueber of setups Number of products Direct labor-hours Estimated Overhead Cost $227,700 $ 153,900 $91,000 $257,000 Product Y Product 2 Expected Activity 11,000 MH 270 setups 2 products 10,000 DLH Number of setups Number of products Direct labor-hours 8,700 60 2,300 210 1 8,700 1 1,300 Foundational 4-15 (Algo) 15. Using the ABC system, what percentage of the General Factory cost is assigned to Product Y and Product Z? (Round your intermediate calculations and final answers to 2 decimal places.) Product Y 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

Introduction to Managerial Accounting

Authors: Peter Brewer, Ray Garrison, Eric Noreen

7th edition

978-1259675539, 125967553X, 978-1259594168, 1259594165, 78025796, 978-0078025792

More Books

Students also viewed these Accounting questions

Question

2 What do you think of the brand name Danish Klassic?

Answered: 1 week ago