Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Multiple production department factory overhead rates The total factory overhead for Cypress Marine Company is budgeted for the year at $ 7 3 0 ,

Multiple production department factory overhead rates
The total factory overhead for Cypress Marine Company is budgeted for the year at $730,125, divided into two departments: Fabrication, $424,875, and Assembly, $305,250,
Cypress Marine manufactures two types of boats: speedboats and bass boats. The speedboats require two direct labor hours in Fabrication and two direct labor hours in
Assembly. The bass boats require one direct labor hour in Fabrication and four direct labor hours in Assembly. Each product is budgeted for 5,500 units of production for
the year.
If required, round all per unit answers to the nearest cent.
a. Determine the total number of budgeted direct labor hours for the year in each department.
Fabrication
direct labor hours
Assembly
direct labor hours
b. Determine the departmental factory overhead rates for both departments.
Fabrication Department rate
per dlh
Assembly Department rate $
per dlh
c. Determine the factory overhead allocated per unit for each product using the department factory overhead allocation rates.
Total factory overhead $
per speedboat
Total factory overhead $
per bass boat
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting And Reporting

Authors: John McKeith, Bill Collins

2nd Edition

0077138368, 978-0077138363

More Books

Students also viewed these Accounting questions

Question

Explain recruiting technology.

Answered: 1 week ago

Question

Define and operationalize types of employment discrimination.

Answered: 1 week ago

Question

Describe sexual harassment in the global environment.

Answered: 1 week ago