Question
Hi, my calculations are probably incorrect and I need help answering these questions based on this info. Please answer all 13 questions and show work/all
Hi, my calculations are probably incorrect and I need help answering these questions based on this info. Please answer all 13 questions and show work/all steps. Will rate accordingly, thank you.
1. What is the companys plantwide overhead rate? (Round your answer to 2 decimal places.)
2. Using the plantwide overhead rate, how much manufacturing overhead cost is allocated to Product Y and Product Z? (Round your intermediate calculations to 2 decimal places. Round your answers to the nearest dollar amount.)
3. What is the activity rate for the Machining activity cost pool? (Round your answer to 2 decimal places.)
4. What is the activity rate for the Machine Setups activity cost pool?
5. What is the activity rate for the Product Design activity cost pool?
6. What is the activity rate for the General Factory activity cost pool? (Round your answer to 2 decimal places.)
7. Using the ABC system, how much total manufacturing overhead cost would be assigned to Product Y? (Round your intermediate calculations to 2 decimal places. Round your answers to the nearest dollar amount.)
8. Using the ABC system, how much total manufacturing overhead cost would be assigned to Product Z? (Round your intermediate calculations to 2 decimal places. Round your answers to the nearest dollar amount.)
9. Using the plantwide overhead rate, what percentage of the total overhead cost is allocated to Product Y and Product Z? (Round your intermediate calculations to 2 decimal places. Round your answers to 2 decimal places.)
10. Using the ABC system, what percentage of the Machining costs is assigned to Product Y and Product Z? (Round your intermediate calculations to 2 decimal places. Round your answers to 2 decimal places.)
11. Using the ABC system, what percentage of Machine Setups cost is assigned to Product Y and Product Z? (Round your intermediate calculations to 2 decimal places. Round your answers to 2 decimal places.)
12. Using the ABC system, what percentage of the Product Design cost is assigned to Product Y and Product Z? (Round your answers to 2 decimal places.)
13. Using the ABC system, what percentage of the General Factory cost is assigned to Product Y and Product Z? (Round your intermediate calculations and final answers to 2 decimal places.)
Greenwood Company manufactures two products13,000 units of Product Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor- hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Activity Cost Pool Machining Machine setups Production design General factory Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Estimated Overhead Cost $ 238,800 $ 93,100 $ 83,000 $ 373,500 Expected Activity 12,000 MH3 190 setups 2 products 15,000 DLH3 Activity Measure Machining Number of setups Number of products Direct labor-hours Product Y 7,900 40 1 7,900 Product z 4,100 150 1 7,100Step by Step Solution
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