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Koontz Company manufactures two models of Industrial components a Basic model and an Advanced Model The company considers all of its manufacturing overhead costs to be fixed and it uses prantwide manufacturing overhead cost allocation based on direct labor-hours Koontz's controller prepared the segmented income statement that is shown below for the most recent year the allocated selling and administrative expenses to products based on sales dollars) Basic Advanced Total Nunber of units produced and sold 20.000 10.000 30,000 Sales 53,000,000 $2,000,000 $5,000,000 Cost of goods sold 2.300.000 1.350.000 3.650.000 Gross margin 700.000 650,000 1,350,000 Selling and administrative expenses 720,000 430,000 1.200,000 Net operating income (less) $ (20,000) $ 120,000 $ 150,000 Direct laborers are paid $20 per hout Direct materials cost $40 per unit for the Basic model and $60 per unit for the Advanced model Koontz is considering a change from plantwide overhead allocation to a departmental approach The overhead costs in the company's Molding Department would be allocated based on machine hours and the overhead costs in its Assembly and Pack Department would be allocated based on direct labor hours to enable further analysis, the controller gathered the following information Assemble Molding and Pack Total Manufacturing overhead costs $ 787,500 $ 562,500 $1,350,000 Direct labor hours Basic 10,000 20,000 10.ON Advanced 30,000 15,000 Machine hours: Basic 12.000 12,000 Advanced 10,000 10,000 Required: 1. Using the plantwide approach a Calculate the plantwide overhead rate b Calculate the amount of overhead that would be assigned to each product 2 Using a departmental approach a Calculate the departmental overhead rates Calculate the total amount of overhead that would be assigned to each product Using your departmental overhead cost allocations redo the controllers segmented income statement continue to allocate seting and administrative expenses based on sales dollars) 3. Koontz's production manager has suggested using activity based costing instead of either the plantwide or departmental approaches. To facilitate the necessary calculations, she assigned the company's total manufacturing overhead cost to five activity cost pools as follows. Activity Cost Pool Machining Assemble and pack Order processing Setups Other (unused capacity) Activity Measure Machine-hours in Molding Direct labor hours in Assemble and Pack Number of customer orders Setup hour's Manufacturing Overhead $ 417,500 282,500 230.000 340,000 30,000 $1,350,000 She also determined that the average order size for the Basic and Advanced models is 400 units and 50 units, respectively The molding machines require a setup for each order One setup hour is required for each customer order of the Basic model and three hours are required to setup for an order of the Advanced model The company pays a sales commissions of 5% for the Basic model and 10% for the Advanced model its traceable fixed advertising costs include $150,000 for the Basic model and $200,000 for the Advanced model. The remainder of the company's selling and administrative costs are organization-sustaining in nature Using the additional information provided by the production manager, calculate a. An activity rate for each activity cost pool b. The total manufacturing overhead cost allocated to the Basic model and the Advanced model using the activity-based approach c. The total selling and administrative cost traced to the Basic model and the Advanced model using the activity based approach 4 Using your activity-based cost assignments from requirement 3, prepare a contrbution format segmented income statement that is adapted from Exhibit 4.8. (Hint Organize all of the company's costs into three categories variable expenses, traceable fixed expenses and common fixed expenses) 5 Using your contribution format segmented income statement from requirement 4 calculate the break even point in dollar sales for the Advanced model Req 1A Reg 1B Reg 2A Req 2B Reg 20 Req 3A Req 3B Req 3C Reg 4 Reg 5 Using your activity-based cost assignments from requirement 3, prepare a contribution format segmented income stateme (Round your intermediate calculations to 2 decimal places.) Koontz Company Income statement Total $ 5,000,000 Basic $ 3,000,000 Advanced $ 2,000,000 Sales Variable expenses Direct materials Direct labor Machining Assemble and pack Order processing Total variable expenses Contribution margin Traceable fixed expenses Selling and administrative 1,400,000 900,000 417,560 282,600 % 230,000 3,570,162 1,429,838 800,000 600,000 227.760 188,400 46,000 1,862,160 1.137,840 600,000 300,000 189,800 94,200 X 184,000 1,368,000 632,000 700,000 300,000 400,000 300,000 $ 837,840 400,000 $ 232,000 729,838 Total traceable fixed expenses Segment margin Common fixed expenses Selling and administrative Other 500,000 80,000