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Need answers with formulas in excel ITEM SET: ABC HUFFMAN CORP. (HC) PRODUCT COSTING DATA Products TV Board PC Board Budgeted sales volume 65,000 40,000
Need answers with formulas in excel
ITEM SET: ABC | ||||||
HUFFMAN CORP. (HC) PRODUCT COSTING DATA | ||||||
Products | TV Board | PC Board | ||||
Budgeted sales volume | 65,000 | 40,000 | ||||
Sales price | $ 150 | $ 300 | ||||
Direct materials | $ 80 | $ 140 | ||||
Standard cost system data | ||||||
TV Board | PC Board | |||||
Direct labor (hrs.) | 1.5 | 4.0 | ||||
Machine time (hrs.) | 0.5 | 1.5 | ||||
Variable factory overhead in the standard cost system is applied based on direct labor hours. | ||||||
Variable factory overhead budget | $ 1,120,000 | |||||
Direct labor hours budgeted | 280,000 | |||||
Direct labor rate (per hr.) | $ 14 | |||||
Machine time rate (per hr.) | $ 10 | |||||
Direct materials handling cost (%) | 10% | |||||
Total materials expenditure | $ 10,600,000 | |||||
Activity-based cost system data | ||||||
Budgeted cost | Cost driver | Activity Level | ||||
Materials overhead | ||||||
Procurement | $ 400,000 | Number of parts | 4,000,000 | |||
Production scheduling | 220,000 | Number of boards | 110,000 | |||
Packaging and shipping | 440,000 | Number of boards | 110,000 | |||
Total | $ 1,060,000 | |||||
Variable overhead | ||||||
Machine setup | $ 446,000 | Number of setups | 278,750 | |||
Hazardous waste disposal | 48,000 | Pounds of waste | 16,000 | |||
Quality control | 560,000 | Number of inspections | 160,000 | |||
General supplies | 66,000 | Number of boards | 110,000 | |||
Total | $ 1,120,000 | |||||
Manufacturing | ||||||
Machine insertion | $ 1,200,000 | Number of parts | 3,000,000 | |||
Manual insertion | 4,000,000 | Number of parts | 1,000,000 | |||
Wave soldering | 132,000 | Number of boards | 110,000 | |||
Total | $ 5,332,000 | |||||
Required per unit | TV Board | PC Board | ||||
Parts (count) | 25 | 55 | ||||
Machine insertions | 24 | 35 | ||||
Manual insertions | 1 | 20 | ||||
Machine setups (count) | 2 | 3 | ||||
Hazardous waste (lb.) | 0.02 | 0.35 | ||||
Inspections (count) | 1 | 2 | ||||
Calculate the budgeted unit cost for the TV Board using the standard cost system data. | ||||||
Item | Cost | |||||
Direct materials | ||||||
DM Handling | ||||||
Direct labor | ||||||
Machine time | ||||||
Variable overhead | ||||||
Total | ||||||
Calculate the budgeted unit cost for the TV Board using the activity-based cost (ABC) system data. | ||||||
Item | Cost | |||||
Direct materials | ||||||
Procurement | ||||||
Production scheduling | ||||||
Packaging and shipping | ||||||
Machine setup | ||||||
Hazardous waste disposal | ||||||
Quality control | ||||||
General supplies | ||||||
Machine insertion | ||||||
Manual insertion | ||||||
Wave soldering | ||||||
Total |
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