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5 7 STU Ink to Math Ink to Draw with Touch Shape Drawing Tools Touch Convert C69 G H A Exercise 2 26 27 28 29 30 B D E F Loco Company sells 2 products (standard & deluxe) and it identifies the following overhead costs, activities, and drivers for 2011. Expected Expected Activity Cost Activity Driver Handling materials $8,000 1,000 Parts Storing materials $2,000 2,000 Square feet Inspecting product $16,000 400 Batches Purchasing $20,000 1,000 Purchase orders Insuring the factory $4,000 10,000 Square feet Cleaning workspace $2,000 10,000 Square feet Factory utilities $6,000 1,000 Machine hours Total overhead cost $58,000 31 32 33 34 35 36 37 38 39 40 41 42 Estimated production data for the two products is as follows: Standard Deluxe Volume (in units) 15,000 5,000 Parts 600 400 Storage space used 1,400 600 Batches made 200 200 Purchase orders 700 300 Workspace used 8,000 2,000 Machine hours 400 600 43 44 45 46 47 48 49 50 51 52 53 per sq.ft Calculate the following ABC overhead rates (round to the penny). a) ABC Rate - Handling $8.00 per part b) ABC Rate - Storing $1.00 c) ABC Rate - Inspecting $40.00 per batch d) ABC Rate - Purchasing $20.00 per PO e) ABC Rate - Insurance $0.40 per sq.ft f) ABC Rate - Cleaning $0.20 per sq.ft g) ABC Rate - Utilities $6.00 per mach.hr 54 55 56 57 58 Standard Deluxe 1-3 4-5 6 DO QS EX PR In-class Problem Class Notes Edit Type here to search DIL Drawing Tools Touch Convert C69 A D E F G H 47 48 49 50 51 52 Calculate the following ABC overhead rates (round to the penny) a) ABC Rate - Handling $8.00 per part b) ABC Rate Storing $1.00 per sq.ft c) ABC Rate - Inspecting $40.00 per batch d) ABC Rate Purchasing $20.00 per PO e) ABC Rate - Insurance $0.40 per sq.ft f) ABC Rate - Cleaning $0.20 per sq.ft g) ABC Rate - Utilities $6.00 per mach.hr 53 54 55 56 57 58 59 60 6 62 h) Handling costs assigned i) Storage costs assigned i) Inspecting costs assigned k) Purchasing costs assigned 1) Insurance costs assigned m) Cleaning costs assigned n) Utility costs assigned o) Total overhead Standard $4,800.00 $1,400.00 $8,000.00 $14,000.00 $3,200.00 $1,600.00 $2,400.00 $35,400.00 Deluxe $3,200.00 $600.00 $8,000.00 $6,000.00 $800.00 $400.00 $3,600.00 $22,600.00 63 64 69 66 6 68 Standard Deluxe p) Overhead cost per unit Exercise 3 Use the information from exercise 2, but assume Loco uses a single plant-wide overhead rate based on machine hours. 71 a) Single plant-wide rate per mach.hr. X 72 73 74 75 76 77 78 Standard Deluxe X b) Total overhead assigned c) Overhead cost per unit 79 80 1-3 4-5 6 DQ QS EX PR In-class Problem Class Notes Edit Type here to search