Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Kettle Factory produces two similar products: gloves and mittens. The total factory overhead budget is $1,050,000 with 600,000 estimated direct labor hours. It is further
Kettle Factory produces two similar products: gloves and mittens. The total factory overhead budget is $1,050,000 with 600,000 estimated direct labor hours. It is further estimat that glove production will require 375,000 direct labor hours and mitten production will require 225,000 direct labor hours. Round your answers to two decimal places, if necessary. a. Determine the single plantwide factory overhead rate based on direct labor hours. 1.75 per direct labor hour b. How much is the factory overhead cost per pair of gloves if each pair requires 2 hours to produce? 3.5 c. How much is the factory overhead cost per pair of mittens if each pair takes 1.5 hours to produce? 2.625 X d. How much total factory overhead will be allocated to glove production if 187,500 pairs are budgeted and 190,000 pairs are actually produced during the period? Use your answ from (b) above. $ 665,000 e. How much total factory overhead will be allocated to mitten production if 150,000 pairs are budgeted and 140,000 pairs are actually produced during the period? Use your answer from (c) above. 367,500 X
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started