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Need to find Question 1 and Question 2 please. i have been trying to solve it but since i missed classes, i cant figure it
Need to find Question 1 and Question 2 please. i have been trying to solve it but since i missed classes, i cant figure it out. Thank you so much.
IVC Electronics (Job-Costing) Currently, production costs are calculated on a per unit basis (ignoring "batches"). Below is budgeted data from the third quarter. Assume that there are no beginning or ending inventories for Work-in-Process. Budgeted Data for Third Quarter Sport Model Pro Model Units Produced & Sold 3400 750 Selling Price per unit $2.000 $6.000 Estimated direct materials per unit $475.00 $1,800.00 Assembly Estimated fond overhead cost Estimated variable overhead cost Estimated machine hours Estimated labor costs Estimated labor cost per unit 5826.200 $275.400 21.600 $1.080.000 $317.547100 $388 500 $520.600 14400 $270.000 $380.000000 Packaging Esmated food overhead cost Estimated variable overhead cost Estimated machine hours Estimated labor costs Estimated labor cost per 5455625 5151.875 11.200 $$45.000 5277 4200 5151.875 550.625 2.800 S405.000 550.000000 Budgeted Machine Hours Assembly Packaging Sport Model 21.000 11.200 Pro Mode 14.400 2300 Busooted Labor Hours Assembly Packaging Sport Model 27,000 31.500 Pro Mode 6.750 13.500 5277,041200 1540.000000 Etted borboot par Pro Model Budatod Machine Houn Assembly Packaging Sport Mode 21.000 11.200 14400 2.800 Based Labor Hours Assembly Packaging Sport Model 27.000 31.500 Pro Model 6.750 13.500 Compute the following and round to two decimal places. 1. Compute the predetermined rate the budgeted rate) used to allocate overhead to units produced, based on total direct labor costs, assuming IVC uses a single rate (plant wide rate) 2. Compute the predetermined rate (the budgeted rate) used to allocate overhead to units produced assuming IVC uses departmental rates: (a) budgeted machine hours for Assembly and (b) budgeted labor costs for Packaging Step by Step Solution
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