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Help me solve to calculate the unit costs! if you could help with other requirements too! Tribute Inc. makes two styles of trophies, basic and

Help me solve to calculate the unit costs! if you could help with other requirements too!image text in transcribed

Tribute Inc. makes two styles of trophies, basic and deluxe, and operates at capacity.Tribute does large custom orders. Tributebudgets to produce 10,000basic trophies and 5,000 deluxe trophies. Manufacturing takes place in two production departments: forming and assembly. In the forming department, indirect manufacturing costs are accumulated in two cost pools, set up and general overhead. In the assembly department, all indirect manufacturing costs are accumulated in one general overhead cost pool. The basic trophies are formed in batches of 200 but because of the more intricate detail of the deluxe trophies, they are formed in batches of 50.

Tribute Inc. makes two styles of trophies, basic and deluxe, and operates at capacity. Tribute does large custom orders. Tribute budgets to produce 10,000 basic trophies and 5,000 deluxe trophies. Manufacturing takes place in two production departments: forming and assembly. In the forming department, indirect manufacturing costs are accumulated in two cost pools, set up and general overhead. In the assembly department, all indirect manufacturing costs are accumulated in one general overhead cost pool. The basic trophies are formed in batches of 200 but because of the more intricate detail of the deluxe trophies, they are formed in batches of 50. (Click the icon to view budgeted information.) Read the requirements. Requirement 1. Calculate the budgeted unit cost of basic and deluxe trophies based on a single plant-wide overhead rate, if total overhead is allocated based on total direct costs. (Don't forget to include direct material and direct manufacturing labor cost in your unit cost calculation.) Start by calculating the total direct costs for the basic and deluxe trophies departments. Requirements Basic Deluxe Total Direct materials Forming 29,000 S 22,400 $ 51,400 Data Table 1. Calculate the budgeted unit cost of basic and deluxe trophies Assembly 4,900 7.400 based on a single plant-wide overhead rate, if total overhead is 12,300 allocated based on total direct costs. (Don't forget to include Total direct materials 33,900 29,800 63.700 The controller has asked you to compare plant-wide, department, direct material and direct manufacturing labor cost in your unit Direct manufacturing labor and activity-based cost allocation cost calculation.) Forming 31.400 18,100 49,500 2. Calculate the budgeted unit cost of basic and deluxe trophies Tribute Budgeted Information for the Year Ended November based on departmental overhead rates, where forming Assembly 15.400 18,600 34.000 30, 2017 department overhead costs are allocated based on direct Forming Department Basic Deluxe Total Total direct manufacturing labor 46,800 36,700 manufacturing labor costs of the forming department and 83,500 Direct materials $ 29,000 $ 22,400 $ 51,400 assembly department overhead costs are allocated based on 80.700 S 66,500 $ 147,200 Direct manufacturing labor Total direct costs 31.400 18,100 total direct manufacturing labor costs of the assembly 49,500 department. Overhead costs Next, calculate the budgeted overhead rate for total overhead allocated based on total direct costs. First select the formy answer to th 3. Calculate the budgeted unit cost of basic and deluxe trophies if or, S = dollar.) Set up 15,840 Tribute allocates overhead costs in each department using Total overhead costs / Total direct costs Budgeted overhead rate General overhead 39,600 activity-based costing, where setup costs are allocated based 103,040 /S 147,200 = $ 0.70 per DC S Assembly Department Basic Deluxe Total on number of batches and general overhead costs for each Direct materials $ 4,900 $ 7,400 $ 12,300 department are allocated based on direct manufacturing labor Finally, calculate unit cost for the basic and deluxe trophies. (Round your final answer to the nearest cent, SX.XX.) Direct manufacturing labor 15,400 18,600 34,000 costs of each department Basic Deluxe Total Overhead costs 4. Explain briefly why plant-wide, department, and activity-based costing systems show different costs for the basic and deluxe Total direct costs 80,700 S 66,500 $ 147,200 General overhead 47,600 trophies. Which system would you recommend and why? Allocated overhead 56.490 46,550 103,040 137,190 S 113,050 S 250,240 Print Done Total costs Unit cost 13.72 S 22.61 Requirement 2. Calculate the budgeted unit cost of basic and deluxe trophies based on departmental overhead rates, where forming department overhead costs are allocated based on direct manufacturing labor costs of the forming department and assembly department overhead costs are allocated based on total direct manufacturing labor costs of the assembly department. Start by calculating the budgeted overhead rate for the forming and assembly departments based on direct manufacturing labor costs. First select the formula, then enter the applicable amounts and calculate the rates. (Round the budgeted overhead rates to the nearest cent, SX.XX.) Budgeted overhead costs i Budgeted direct labor costs = Budgeted overhead rate Forming $ 55,440 $ 49,500 = $ 1.12 per DLS Assembly S 47,600 IS 34,000 = $ 1.40 per DLS Print Done Finally, calculate the unit cost for the basic and deluxe trophies. (Round your final answer to the nearest cent, SX.XX.) Basic Deluxe Total Total direct costs Allocated overhead Forming Department Assembly Department Total costs Unit cost

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