Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Orange County Chrome Company manufactures three chrome-plated products-automobile bumpers, valve covers, and wheels. These products are manufactured in two production departments (Stamping and Plating). The
Orange County Chrome Company manufactures three chrome-plated products-automobile bumpers, valve covers, and wheels. These products are manufactured in two production departments (Stamping and Plating). The factory overhead for Orange County Chrome is $244,800. The three products consume both machine hours and direct labor hours in the two production departments as follows: Direct Labor Hours Machine Hours Stamping Department Automobile bumpers 556 795 Valve covers 297 557 Wheels 342 602 1,195 1,954 Plating Department Automobile bumpers 165 1,169 Valve covers 179 713 Wheels 180 759 524 2,641 Total 1,719 4,595 Required: 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours. Round your answers to two decimal places. 2. Determine the product factory overhead costs, using (a) the direct labor hour plantwide factory overhead rate and (b) the machine hour plantwide factory overhead rate. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Round your answers to the nearest dollar amount. 1. Determine the single plantwide factory overhead rate, using each of the following allocation bases: (a) direct labor hours and (b) machine hours. Round your answers to two decimal places. Direct labor overhead rate: $ per direct labor hour Machine hour overhead rate: $ per machine hour 2. Determine the product factory overhead costs, using (a) the direct labor hour plantwide factory overhead rate and (b) the machine hour plantwide factory overhead rate. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Round your answers to the nearest dollar amount. 1 Automobile Bumpers Valve Covers Wheels 2 3
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