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Robillard Products manufactures its products in two separate departments: Machining and Assembly. Total manufacturing overhead costs for the year are budgeted 1,056,000. of this amount, the Machining Department inours $600,000 (primarily for machine operation and depreciation) while the Assembly Department incurs 456,000. The company estimates that it will inour 4,000 machine hours Call in the Machining Department) and 9,800 direct labor hours (1,800 in the Machining Department and 8,000 in the Assembly Department) during the year Robillard Products currently uses a plantwide overhead rate based on direct labor hours to allocate overhead. However, the company is considering refining is ovorhoad allocation system by using departmental overhead rates. The Machining Department would allocate its overhead using machine hours (MH), but the Assembly Department would allocate its overhead using direct labor (DL) hours. The following chart shows the machine hours (MH) and direct labor (DL) hours incurred by Jobs 500 and 501 in each production department (Cickte icon to view the additional information.) Read the requirements Requirement 1. Compute the company's current plantwide overhead rate. (Round your answer to the nearest dollar) Begin by determining the formula, then compute the rate. Plantwide overhead rate per DL hour Requirement 2. Compute refined departmental overhead rates Determining the formula, then compute the ratos. (Round your answers to the nearest dollar) Departmental overhead rate Machining Assembhw Choose from any list or enter any number in the input fields and then continue to the next question per mach hour mount, the any estimates that it will incur 4,000 machine hours (all in the 0 in the Assembly Departmont) dudinatbonar Machining Department incurs $600,000 (primarily for machine operation and deprediation) whed at the Assembly Department incurs Department) and 9,600 direct labor hours (1,600 in urrently uses a plantwideData Table system by using departme ent would allocate its overh ecompany is considering refining its d using machine hours (MH), but the ours (MH) and direct labor (DL) hours - 0 and 501 in each product to view the additional infom ents. ompute the company's ing the formula, then compu Machining Assembly Department Department 15 DL houn Job 500.... 10 MH 2 DL hours Job 501..20 MH 5 DL hours 2 DL hours ts fo Compute rofined departmenta formula, then compute the rat Both Jobs 500 and 501 used $1,000 of direct materials. Wages and benefits total $30 per direct labor hour.Robillard Products prices its products at 120% of total manufacturing costs. Print Done head rate ur ner DI hour any list or enter any number in the input fields and then continue to the next question. Requirement 3. Which job (Job 500 or Job 501) uses more of the company's resources? Explain. of the company's resources. machine hours than the other job. The accounting system should show that one job actually the other Requirement 4. Compute the total amount of overhead alocatod to each jobif the company uses its current plantwide overhood rato. Job 500 Job 501 Total direct labor hours x Plantwide allocation rate Overhead allocation Choose from any list or enter any number in the input fields and then continue to the next question Requirement 5. Compute the total amount of overhead allocafed to oach job if the company uses departmental overhead rates. Job 500 Job 501 Overhead allocation -Machining Department Overhead allocation-Assembly Department Total overhead allocation Requirement 6. Do both of the allocation systems accurately reflect the resources each job used? Explain. The single plantwide overhead rate assigned 500 due to the of overhead to both jobs. The departmental rates assign to Job 501 than Job I used. This seems acturing cost and salon price of each job using the company's curront plantwide overhend rale. (Round amounts to the Requirement 7.Compute the total manuf Choose from any list or enter any number in the input fields and then continue to the next question. Requirement 7. Compute the total manufacturing cost and sales price of each job using the company's nearest dollar. Enter the percentage as a whole number.) ourrent plantwide overhead rato. (Round amounts to the Job 500 Job 501 Direct materials Direct labor Manufacturing overhead Total manufacturing costs Markup for pricing (%) Sales price ysign, now much profit did the company think it earned on each job? Calculate the gross profit using the current costing system Job 500 Job 501 Sales price Less: Total manufacturing costs Gross profit/ (loss) Based on the departmental overhead ratos and the sales price determined in Requirement 7, how much profit did the company really eam on each job? Caloulate the gros profit wing the dapartmental rate coating system (Use parentheses or a minus sign to show losseel) Job 500 Job 501 Choose from any list or enter any number in the input fields and then continue to the navtn Read the requirements Calculate the gross prafit using the departmental mate costing system. (Use parentheses or a minus sign to show losso.) Job 500 Job 501 Sales price Less: Total manufacturing costs: Direct materials Direct labor Manufacturing overhead dules Gross proft/(loss) ols Requirement 9. Compare and comment on the results you obtained in Requirements 7 and 8 Choose from any list or enter any number in the input fields and then continue to the next question Requirement 9.Compare and comment on the results you obtained in Requirements 7 and 8 When utilizing a single rate allocation method, Robillard believes that When utilizing a refined costing method, Robillard realizes that Choose from any list or enter any number in the input fields and then continue to the next question Before you start, run the Browser Check to confirm that you 36,503 21 Student CourseRequirement 1.Compute the company's current plantwide overhead rate. (Round your answer to the n Evaluations Begin by determining the formula, then compute the rate. : Plantwide overh per D Total assets R Total direct labor hours O Total liabilities tmental overhead rates the ratos. (Round your answers to the nearest dollar.) Total manufacturing overhead Total owners' equity Total revenues 7- Departs Determining the formula, then compute the rates. (Round your answers to the nearest dollar.) Course ons Machining AssemblyMarkup percentage Requirement 3. Total departmental allocation base over per ma per DL Plantwide overhead rate re of the company's resources? Explain. Total departmental overhead cost Wages and benefits per hour machine hours than the other iob. The ancnuntinn euetem choud nhstu thut Machining Assembly Requirement 3. Which job (Job 500 or Job 501) uses more of the company's resources? Explain. Student Course Evaluations of the company's resources. e hours than the other job. The accounting system should show that on Job 500 uses more the other. Job 501 uses more kequirement a. compute tne total amount of overhead allocated to each job if the company uses its c Job 500Job 501 aluations Requirement 3. Which job (Jlob 500 or Job 501) uses more of the company's resources? Explain. of the company's resources machine hours than the other job. The accounting system should show that one job act the other Job 500 uses more total amount of overhead allocated to each job if the company uses its current pla Job 501 uses more Job 500 Job 501 Total direct labor hours machine hours than the other job. The accounting system should show that on the other. to each job if the company uses its cu costs" the company more labor than costs the company more resources than costs the company the same amount of resources as Choose trom any ist or enter any numnar valuations Total overhead allocation Requirement 6. Do both of the allocation systems accurately reflect the resources each job used? Explain The single plantwide overhead rate assigned 500 due to the 1 of overhead to both jobs. The departmental rat used different amounts the same amount each job using the company's current pla Requirement 7.Compute the total manufactu nearest dollar. Enter the percentage as a whol e and comment on the results you obtained in Requirements 7 and 8. ate allocation method, Robillard believes that costing method, Robillard realizes that both jobs are equally profitable or enter any number in the input fields and ti Job 500 is proftable but Job 501 shows a loss Job 501 is profitable but Job 500 shows a Ines