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Homework: HW Ch4 Sa Score: 0.5 of 2 pts 8 of 9 (9 complete) HW Score: 81.82%, 8.18 of 10 p W P4-41A (similar to) Question Help Teahen Products manufactures its products in two separate departments: Machining and Assembly Total manufacturing overhead costs for the year are budgeted at 51,056,000. Of this amount, the Machining Department incurs $600,000 (primarily for machine operation and depreciation) while the Assembly Department incurs $456,000. The company estimates that it will incur 4,000 machine hours (all in the Machining Department) and 9.600 direct labor hours (1,600 in the Machining Department and 8,000 in the Assembly Department) during the year. Teahen Products currently uses a plantwide overhead rate based on direct labor hours to allocate overhead. However, the company is considering refining its overhead 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 labox (DL) hours incurred by Jobs 500 and 501 in each production department B!(Click the icon to view the additional information) Read the regurements Begin by determining the formula, then compute the rate. Total manufacturing overhead Total direct labor hours 1,056,000 9.600 = - Plantwide overhead rate $ 110 per DL hour Requirement 2. Computerefined departmental overhead rates Enter any number in the edit fields and then click Check Answer Clear All Check Answer O parts remaining 11:59 pm Un cel l 04/02/20 9:10 P Homework: HW Ch4 Score: 0.5 of 2 pts 8 of 9 (9 complete) HW Score: 81.82%, 8.18 of 10 pl * P4-41A (similar to) Question Help Teahen Products manufactures its products in two separate departments Machining and Assembly Total manufacturing overhead costs for the you are budgeted a $1.056,000 of this amount, the Machining Department incurs $600.000 (primarily for machine operation and depreciation) while the Assembly Department incurs 5456,000. The company estimates that it will incur 4.000 machine hours (all in the Machining Department) and 9.600 direct labor hours (1.600 in the Machining Department and 8,000 in the Assembly Department) during the year Teahen Products currently uses a plantwide overhead rate based on direct labor hours to allocate overhead However, the company is considering refining its overhead allocation system by using departmental overhead rates. The Machining Department would allocate its overhead using machine hours (Min. 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 Joos 500 and 501 in each production department Click the icon to view the additional information) Read the s ements Determining the formula, then compute the rates (Round your answers to the nearest dollar.) Total departmental overhead cost / Total departmental allocation base Departmental overhead rate 600,000 4,000 - $ Machining 150 per mach hour 8,000 456,000 - $ Assembly 57 per DL hou Enter any number in the edit fields and then click Check Answer Check Answer Clear AN Sparts bremaining Homework: HW Ch4 Score: 0.5 of 2 pts sa 8 of 9 (9 complete) HW Score: 81.82%, 8.18 of 10 * P4-41A (similar to) Question Help Teahen Products manufactures its products in two separate departments Machining and Assembly. Total manufacturing overhead costs for the year are budgeted at $1.055.000 Of this amount, the Machining Department incurs $600,000 (primarily for machine operation and depreciation) while the Assembly Department incurs $456,000. The company estimates that it will incur 4,000 machine hours (all in the Machining Department) and 9,600 direct labor hours (1,600 in the Machining Department and 8,000 in the Assembly Department) during the year. Teahen Products currently uses a plantwide overhead rate based on direct labor hours to allocate overhead. However, the company is considering refining its overhead location 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: (Click the icon to view the additional information.) Read the requirements Job 501 uses more of the company's resources Job 501 uses more machine hours than the other job. The accounting system should show that one job actually "costs the company more resources than the other Enter any number in the edit fields and then click Check Answer Check Ariswer Clear All b parts remaining I'IUT WUIK. HW Ch4 Score: 0.5 of 2 pts 8 of 9 (9 complete) % P4-41A (similar to HW Score: 81.82%, & Question Teahen Products manufactures its products in two separate departments Machining and Assembly. Total manufacturing overhead costs for the year are bu $1.056.000. Of this amount, the Machining Department incurs $600,000 (primarily for machine operation and depreciation) while the Assembly Department in $456 000 The company estimates that it will incur 4,000 machine hours (all in the Machining Department) and 9.600 direct labor hours (1.600 in the Machinin Department and 8,000 in the Assembly Department) during the year. Teahen Products currently uses a plantwide overhead rate based on direct labor hours to allocate overhead. However, the company is considering refining its overhead 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: ESE (Click the icon to view the additional information) Read the requirements Requirement 4. Compute the total amount of overhead allocated to each job if the company uses its current plan wide overhead rate Job 500 Job 501 Total direct labor hours x Plantwide allocation rate Enter any number in the edit fields and then click Check Answer 6 parts O remaining Clear All Check Answer 11:59pm Score: 0.5 of 2 pts 8 of 9 (9 complete) HW Score: 81.82%, 8.18 of 10 pts MP4-41A (similar to) Question Help Teahen Products manufactures its products in two separate departments Machining and Assembly Total manufacturing overhead costs for the year budgeted at $1,055,000. Of this amount, the Machining Department incurs $600,000 (primarily for machine operation and depreciation) while the Assembly Department ineurs $456,000. The company estimates that it will incur 4,000 machine hours (all in the Machining Department) and 9,600 direct labor hours (1,600 in the Machining Department and 8,000 in the Assembly Department) during the year. Teahen Products currently uses a plantwide overhead rate based on direct labor hours to allocate overhead. However, the company is considering refiring its overhead allocation system by using departmental overhead rates. The Machining Department would allocate its overhead using machine hours (MF, but the Assembly Department would allocate its overhead using direct labor (DL) hours. The following chart shows the machine hours (Mland direct labor (D0 hours incurred by Jobs 500 and 501 in each production department: (Click the icon to view the additional information.) Read the requirements Job 500 Job 501 Total direct labor hours x Plantwide allocation rate Overhead allocation Enter any number in the edit fields and then click Check Answer Check A Clear All Sparts b remaining 11:59pm core: 0.5 of 2 pts 8 of 9 (9 complete) P4-41A (similar to) HW Score: 81.82%, 8.18 of 10 Question Help Teahen Products manufactures its products in $1,056,000. Of this amount, the Machining Deli $456,000. The company estimates that it will i Department and 8,000 in the Assembly Depart Data Table - overhead costs for the year are budgeted at b) while the Assembly Department incurs ct labor hours (1,600 in the Machining Teahen Products currently uses a plantwide o overhead allocation system by using departme Assembly Department would allocate its over incurred by Jobs 500 and 501 in each producti (Click the icon to view the additional infor Read the requirements e company is considering refining its ed using machine hours (MH), but the hours (MH) and direct labor (DL) hours Machining Assembly Department Department Job 5008 MH 15 DL hours 2 DL hours Job 501 16 MH 15 DL hours 2 DL hours Both Jobs 500 and 501 used $1,000 of direct materials. Wages and benefits total $30 per direct labor hour. Teahen Products prices its products at 120% of total manufacturing costs. Job 500 Total direct labor hours x Plantwide allocation rate Overhead allocation Enter any number in the edit fields and ther Print Done parts O remaining Clear All Check Answer 11:59pm 5 of 2 pts Save 8 of 9 (9 complete) 41A (similar HW Score: 81.82%, 8.18 of 10 pts 0 Requirements - X on Help are budgeted at hent incurs achining Toducts manufacture 00. Of this amount. The company estir ent and 8,000 in the A Products currently us dallocation system by aly Department would by Jobs 500 and 501 ck the icon to view the me requirements. hing its but the ) hours 1. Compute the company's current plantwide overhead rate. 2. Compute refined departmental overhead rates. 3. Which job (Job 500 or Job 501) uses more of the company's resources? Explain 4. Compute the total amount of overhead allocated to each job if the company uses its current plantwide overhead rate. 5. Compute the total amount of overhead allocated to each job if the company uses departmental overhead rates 6. Do both allocation systems accurately reflect the resources that each job used? Explain 7. Compute the total manufacturing cost and sales price of each job using the company's current plantwide overhead rate. 8. Based on the current (plantwide) allocation system, how much profit did the company think it eared on each job? Based on the departmental overhead rates and the sales price determined in Requirement 7. how much profit did it really earn on each job? 9. Compare and comment on the results you obtained in Requirements 7 and 8. direct labor hours twide allocation rate head allocation any number in the edi Print Done see arts emaining see so 11:59 pm