Help and if you could explain the calculations that would really help. Please zoom in if needed.
Rosehut Olive Oil Company makes two grades of olive oil: standard and extra virgin. Rosehut has identified two activity cost pools, the related costs per pool, the cost driver for each pool, and the expected usage for each pool. Total Activity Cost Driver $1,921,200 Washing, Pressing, and Piltering hours $1,025,000 Number of bottles Activity Washing, Pressing & Filtering (NPP) Bottling Cost Standard Extra Virgin 47,800 hours 109, 200 hours 328,000 bottles 82,000 bottles Additional information about each grade of olive oil is as follows: Sales Grade Revenue Standard $5,170,000 Extra Virgin $2,800,000 Direct Materiala Costa $900,000 $600,000 Direet Labor Costs $375,000 $150,000 Required: 1. Calculate the activity rate for each cost pool. 2. Using the activity rates, determine the total amount of overhead assigned to each product. 3. Determine total manufacturing cost for each product. 4. Calculate the gross profit for each product. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the activity rate for each cost pool. (Round your answers to 2 decimal places.) Standard Extra virgin 5,170,000 $2,800,000 YUU, VUU $600,000 $375,00 $150,000 Required: 1. Calculate the activity rate for each cost pool. 2. Using the activity rates, determine the total amount of overhead assigned to each product. 3. Determine total manufacturing cost for each product. 4. Calculate the gross profit for each product. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the activity rate for each cost pool. (Round your answers to 2 decimal places.) Activity Washing, Pressing & Filtering (WPF) Bottling Cost Pool per hour per bottle Standara 3,170, VVU Extra Virgin $2,800,000 YUV, VUU $600,000 33/3, UUU $150,000 Required: 1. Calculate the activity rate for each cost pool. 2. Using the activity rates, determine the total amount of overhead assigned to each product. 3. Determine total manufacturing cost for each product. 4. Calculate the gross profit for each product. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Using the activity rates, determine the total amount of overhead assigned to each product. (Round activity rates to 2 decimal places.) Standard Activity for Overhead Standard assigned to Standard Extra Virgin Overhead Activity for Extra Virgin assigned to Extra Virgin Activity Activity Rate WPF Bottling Total Standard 375,UVU Extra virgin 5,170,000 $2,800,000 900, VUU $600,000 $150,000 Required: 1. Calculate the activity rate for each cost pool. 2. Using the activity rates, determine the total amount of overhead assigned to each product, 3. Determine total manufacturing cost for each product. 4. Calculate the gross profit for each product. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine total manufacturing cost for each product. Standard Extra Virgin Direct Materials Direct Labor ABC Overhead Total manufacturing costs Standard 5,170,000 Extra virgin $2,800,000 , $600,000 375,UVU $150,000 Required: 1. Calculate the activity rate for each cost pool. 2. Using the activity rates, determine the total amount of overhead assigned to each product. 3. Determine total manufacturing cost for each product. 4. Calculate the gross profit for each product. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the gross profit for each product Standard Extra Virgin Revenue Cost of goods sold Gross Profit
