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Heintz Products uses activity-based costing to account for product costs. The plant manager has estimated the following cost drivers and rates. Direct materials costs were
Heintz Products uses activity-based costing to account for product costs. The plant manager has estimated the following cost drivers and rates. Direct materials costs were $520,000 and direct labor costs were $360,000 during November, when the plant finished 7,000 pounds of product, had 20 setups, and ran the machines for 15,000 hours. There were no work-in-process inventories. Required: Use T-accounts to show the flow of materials, labor, and overhead costs from the four overhead activity centers through Work-inProcess Inventory and out to Finished Goods Inventory. Use the accounts Materials Inventory, Wages Payable, Work-in-Process Inventory, Finished Goods Inventory, and four overhead applied accounts. Overhead Applied: Packing and Shipping
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