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After reading the chapter, reviewing the PowerPoint slides, and answering the Study Guide questions, students should be ready to practice the content covered. The purpose of this assignment is to allow students to practice the concepts prior to completing the homework assignment. Problems are adapted from Financial \& Managerial Accounting, Warren/Reeve/Duchac, 14th edition. Problem 1 - Single plantwide factory overhead rate The total factory overhead for Bardot Marine Company is budgeted for the year at $816,000. Bardot Marine manufactures two types of boats: speedboats and bass bopts. The speedboat and bass boat each require 4 direct labor hours for manufacture. Each product is budgeted for 8,000 units of production for the year. Determine (A) the total number of budgeted direct labor hours for the year, (B) the single plantwide factory overhead rate, and (C) the factory overhead allocated per unit for each product using the single plantwide factory overhead rate. When required, round all per unit answers to the nearest cent. Show how you computed your answers: Problem 2 - Multiple Production Department Factory Overhead Rates The total factory overhead for Bardot Marine Company is budgeted for the year at $471.750 divided into two departments: Fabrication, $330,000, and Assembly, $141,750. Bardot Marine manufactures two types of boatsi speedboats and bass boats. The speedboats require 2 direct labor hours in Fabrication and 4 direct labor hours in Assembly. The bass boats require 2 direct labor hours in Fabrication and 3 direct labor hours in Assembly. Each product is budgeted for 3.000 units of production for the year. Determine (A) the total number of budgeted direct labor hours for the year in each department, (B) the departmental factory overhead rates for both departments, and (C) the factory overhead allocated per unit for each product using the department factory overhead allocation rates. When required, round all per unit answers to the nearest cent, Show how you computed your answers. Problem 3 - Activity-based costing: factory overhead costs The total factory overhead for Bardot Marine Company is budgeted for the year at $1,369,800, divided into four activities: fabrication, \$704,000; assembly, \$261,000; setup, \$220,800; and inspection, \$184,000. Bardot Marine manufactures two types of boats: speedboats and bass boats. The activity-base usage quantities for each product by each activity are as follows: Each product is budgeted for 5,500 units of production for the year. Determine (A) the activity rates for each activity and (B) the activity-based factory overhead per unit for each product. Round to the nearest \$. Show how you computed your answers. To receive credit for this assignment, students have the following options: - Complete the assignment using Microsoft Excel - upload an Excel document. Use formulas to show how you computed your numbers. - Complete the assignment with paper and pencil- take a picture of the completed pages and upload the pictures. If you are using an Apple device, do not upload an .HEIC file. I will not be able to open it. - Complete the assignment using paper and pencil, scan the pages into a PDF - upload the PDF
