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Walton Construction Company expects to build three new homes during a specific accounting period. The estimated direct materials and labor costs are as follows. Expected Costs Direct labor Direct materials Home 1 Home 2 Home $ 65,000 $102,000 $181,000 106,000 146,000 189,000 Assume Walton needs to allocate two major overhead costs ($69,600 of employee fringe benefits and $30.870 of indirect materials costs) among the three jobs. Required Choose an appropriate cost driver for each of the overhead costs and determine the total cost of each house, (Round "Allocation rate" to 2 decimal places.) Fringe Benefits: Home Allocation Rate * Weight of Base Allocated Cost 1 s 0 2 0 3 0 Total s 0 Indirect Materials: Home Allocation Rate x Weight of Base Allocated Cost 1 S 0 2 0 3 0 Total $ 0 The cost components to determine the total cost of each house: Expected Costs Home 1 Home 2 Home 3 Total $ 0 Direct labor Direct materials Fringe benefits 0 0 Indirect materials 0 Total cost S 0 $ 0 Exercise 12-11A (Algo) Allocating to solve a timing problem LO 12-3 Munoz Air is a large airline company that pays a customer relations representative $10,800 per month. The representative, who processed 1080 customer complaints in January and 1,410 complaints in February, is expected to process 21,600 customer complaints during the year. Required a. Determine the total cost of processing customer complaints in January and in February Month Allocated Cost January February Problem 12-18A (Algo) Allocation to accomplish smoothing LO 12-1, 12-2, 12-3 Perez Corporation estimated its overhead costs would be $22.400 per month except for January when it pays the $129,810 annual insurance premium on the manufacturing facility. Accordingly, the January overhead costs were expected to be $152,210 ($129,810 + $22,400). The company expected to use 7,200 direct labor hours per month except during July August, and September when the company expected 9.300 hours of direct labor each month to build inventories for high demand that normally occurs during the Christmas season. The company's actual direct labor hours were the same as the estimated hours. The company made 3,600 units of product in each month except July, August, and September in which it produced 4,650 units each month. Direct labor costs were $24.00 per unit, and direct materials costs were $10.30 per unit Required a. Calculate a predetermined overhead rate based on direct labor hours. b. Determine the total allocated overhead cost for January, March, and August c. Determine the cost per unit of product for January, March, and August d. Determine the selling price for the product, assuming that the company desires to earn a gross margin of $2170 per unit. Complete this question by entering your answers in the tabs below. Req A Reg B to D Calculate a predetermined overhead rate based on direct labor hours. (Round your answer to 2 decimal places.) Predetermined overhead rate per labor hour RAQA ReqBtoD> Problem 12-18A (Algo) Allocation to accomplish smoothing LO 12-1, 12-2, 12-3 Perez Corporation estimated its overhead costs would be $22.400 per month except for January when it pays the $129,810 annual insurance premium on the manufacturing facility. Accordingly, the January overhead costs were expected to be $152,210 ($129,810 + $22,400). The company expected to use 7,200 direct labor hours per month except during July, August, and September when the company expected 9.300 hours of direct labor each month to build inventories for high demand that normally occurs during the Christmas season. The company's actual direct labor hours were the same as the estimated hours. The company made 3,600 units of product in each month except July, August, and September in which it produced 4,650 units each month. Direct labor costs were $24.00 per unit, and direct materials costs were $10.30 per unit Required a. Calculate a predetermined overhead rate based on direct labor hours. b. Determine the total allocated overhead cost for January March, and August c. Determine the cost per unit of product for January, March, and August d. Determine the selling price for the product, assuming that the company desires to earn a gross margin of $2170 per unit. Complete this question by entering your answers in the tabs below. Req A Req BtoD Determine the total allocated overhead cost, the cost per unit of product and the selling price for the product for January, March, and August. Assume that the company desires to earn a gross margin of $21.70 per unit. (Do not round Intermediate calculations. Round "Cost per unit" and "Selling price per unit" to 2 decimal places. Round your total allocated overhead cost to nearest whole dollar.) Show less March January August Total allocated overhead cost Cost per unit Selling price per unit
