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Variable and absorption costing Porta Light manufactures a highquality LED flashlight for home/office use. Data pertaining to the company's operations for the year are as follows: Production for the year 36,000 units Sales for the year (sales price per unit, $8) 39,000 units Beginning inventory 7,000 units Costs to produce one unit (This year and prior year): Direct material $3.60 Direct labor 1.00 Variable overhead 0.60 Fixed overhead 0.40 Selling and administrative costs: Variable (per unit sold) $0.40 Fixed (per year) $120,000 The FOH rate is based on units of production based on an expected production capacity of 80,000 units per year. a. What is budgeted annual fixed manufacturing overhead? $ b. If budgeted fixed manufacturing overhead equals actual fixed overhead, what is underapplied or overapplied fixed overhead for the year (1) under absorption costing? $ 9 0 (2) under variable costing? $ c. What is the product cost per unit under (1) under absorption costing? $ (2) under variable costing? $ d. How much total expense is charged against revenues for the year (1) under absorption costing? $ (2) under variable costing? $ e. ls income higher under absorption or variable costing? By what amount? by $ Plant vs. departmental 0H rates Red River Farm Machine makes a wide variety of products, all of which must be processed in the Cutting and Assembly departments. For the year, Red River budgeted total overhead of $2,979,000, of which $1,156,500 will be incurred in Cutting and the remainder will be incurred in Assembly. Budgeted direct labor and machine hours are as follows: Cutting Assembly Budgeted direct labor hours 27,000 3,000 Budgeted machine hours 2,100 65,800 Two products made by Red River are the RWZZSKI and the SD45ROW. The following cost and production time information on these items has been gathered: RWZZSKI SD45ROW Direct material $34.85 $19.57 Direct labor rate in Cutting $20.00 $20.00 Direct labor rate in Assembly $8.00 $8.00 Direct labor hours in Cutting 6.00 4.80 Direct labor hours in Assembly 0.03 0.05 Machine hours in Cutting 0.06 0.15 Machine hours in Assembly 5.90 9.30 a. What is the plantwide predetermined OH rate based on (1) direct labor hours and (2) machine hours for the upcoming year? Note: Round your answers to two decimal places (i.e. round $43555 to $4.36). (1 ) OH rate based on direct labor hours $ per DLH (2) OH rate based on machine hours $ per MH b. What are the departmental predetermined OH rates in Cutting and Assembly using the most appropriate base in each department? Note: Round your answers to two decimal places (i.e. round $43555 to $4.36). (1 ) OH rate in Cutting: $ per DLH (2) OH rate in Assembly: $ per MH c. What are the costs of products RWZZSKI and SD45ROW using (1 ) a plantwide rate based on direct labor hours, (2) a plantwide rate based on machine hours, and (3) departmental rates calculated in (b)? Note: Round your answers to two decimal places (i.e. round $43555 to $4.36). RWZZSKI SD45 ROW (1) Total cost using plantwide rate based on DLHs $ $ (2) Total cost using plantwide rate based on MHS $ $ (3) Total cost using rates in (b) $ $