Please solve all the questions step by step. show all steps and explanations.

#1

Chapter 7 i Saved Help Save & Exit Submit 10 Check my work 18 setup. Costs for the Year Wages and salaries $ 414, 000 Disposal fees 808 , 000 10 Equipment depreciation 94 , 000 points On-site supplies 61, 000 office expenses 310 , 000 Skipped Licensing and insurance 510 , 000 Total cost $ 2, 197, 000 eBook Distribution of Resource Consumption Across Activities Estimating Working on Print Removing and Job Nonroutine Asbestos Setup Jobs Other Total References Wages and salaries 50% 108 30% 108 1008 Disposal fees 708 08 308 08 1008 Equipment depreciation 509 108 158 258 1008 On-site supplies 708 208 108 08 1008 Office expenses 108 35% 258 30% 100% Licensing and insurance 258 08 60% 15% 100% Required: 1. Perform the first-stage allocation of costs to the activity cost pools. 2. Compute the activity rates for the activity cost pools. 3. Using the activity rates you have computed, determine the total cost and the average cost per thousand square feet of each of the following jobs according to the activity-based costing system. a. A routine 1,000-square-foot asbestos removal job. b. A routine 2,000-square-foot asbestos removal job. c. A nonroutine 2,000-square-foot asbestos removal job. Complete this question by entering your answers in the tabs below.Chapter 7 i Saved Help Save & Exit Submit 10 Check my work 18 b. A routine 2,000-square-foot asbestos removal job. c. A nonroutine 2,000-square-foot asbestos removal job. Complete this question by entering your answers in the tabs below. 10 points Skipped Req 1 Req 2 Req 3A to 3C Perform the first-stage allocation of costs to the activity cost pools. eBook Removing Estimating and Working on Print Total asbestos Job Setup Nonroutine Other Jobs References Wages and salaries $ Disposal fees Equipment depreciation 0 On-site supplies 0 Office expenses Licensing and insurance o o Total cost $ 0 $ o $ o $ 0 $ Chapter 7 i Saved Help Save & Exit Submit 10 Check my work 18 1. Perform the first-stage allocation of costs to the activity cost pools. 2. Compute the activity rates for the activity cost pools. 3. Using the activity rates you have computed, determine the total cost and the average cost per thousand square feet of each of the following jobs according to the activity-based costing system. a. A routine 1,000-square-foot asbestos removal job. 10 b. A routine 2,000-square-foot asbestos removal job. points c. A nonroutine 2,000-square-foot asbestos removal job. Skipped Complete this question by entering your answers in the tabs below. eBook Req 1 Req 2 Req 3A to 3C Print References Compute the activity rates for the activity cost pools. Activity Cost Pool Activity Rate Removing asbestos per thousand square feet Estimating and job setup per job Working on nonroutine jobs per nonroutine job Chapter 7 o 17 10 points Skipped eBook Hint Prim References Saved Help Problem 7-17 (Algo) Comparing Traditional and Activity-Based Product Margins [LO7-1, LO7-3, LO7-4, LO7-5] Smoky Mountain Corporation makes two types of hiking bootsthe Xtreme and the Pathfinder. Data concerning these two product lines appear below: xtreme Pathfinder Selling price per unit 5 120.00 $ 87.00 Direct materials per unit $ 63.30 $ 52.00 Direct labor per unit 5 17.00 $ 10.00 Direct laborhours per unit 1.7 DLHs 1.0 DLHs Estimated annual production and sales 22,000 units 76,000 units The company has a traditional costing system in which manufacturing overhead is applied to units based on direct laborhours. Data concerning manufacturing overhead and direct labor-hours for the upcoming year appear below: Estimated total manufacturing overhead $ 1 , 927 , 800 Estimated total direct laborhours 1 1 3 , 40 0 DLHs Required: 1. Compute the product margins for the Xtreme and the Pathnder products under the company's traditional costing system. 2. The company is considering replacing its traditional costing system with an activitybased costing system that would assign its manufacturing overhead to the following four activity cost pools (the Other cost pool includes organization-sustaining costs and idle capacity costs): Estimated Expected Activity Activities and Activity Measures Overhead Cost Xtreme Pathfinder Total Supporting direct labor (direct labor-hours) $ 703,080 37,400 76,000 113,400 Batch setups (setups) 480,000 220 180 400 Product sustaining (number of products) 700 , 000 1 1 2 other 44, 720 NA NA NA Total manufacturing overhead cost $ 1, 927, 800 Save 8: Exit Submit w Chapter 7 0 Saved Help Save& Exit Submit w 17 Estimated Expected Activity Activities and Activity Measures Overhead Cost Xtreme Pathfinder Total Supporting direct labor (direct laborhours) $ 703,080 37,400 76,000 113,400 Batch setups (setups) 480,000 220 180 400 Product sustaining (number of products) 700, 000 1 1 2 10_ other 44 , 720 NA NA NA pomts Total manufacturing overhead cost 5 1 r 927 r 300 Skipped . . . . . Compute the product margins for the Xtreme and the Pathfinder products under the activrty-based costing system. B k 3. Prepare a quantitative comparison of the traditional and activity-based cost assignments. E 00 Hil'lt . . . . Complete this question by entering your answers In the tabs below. Print References Required 1 Required 2 Required 3 Compute the product margins for the Xtreme and the Pathfinder products under the company's traditional costing system. (Round your intermediate calculations to 2 decimal places and nal answers to the nearest whole dollar amount.) Xlremo Pathnder Total Required 2 > Product margin Chapter 7 i Saved Help Save & Exit Submit Check my work 17 Estimated Expected Activity Activities and Activity Measures Overhead Cost Xtreme Pathfinder Total Supporting direct labor (direct labor-hours) $ 703, 080 37 , 400 76 , 000 113 , 400 Batch setups (setups) 480 , 000 220 180 400 Product sustaining (number of products) 700, 000 10 Other 44 , 720 NA NA NA points Total manufacturing overhead cost $ 1,927, 800 Skipped Compute the product margins for the Xtreme and the Pathfinder products under the activity-based costing system. 3. Prepare a quantitative comparison of the traditional and activity-based cost assignments. eBook Hint Complete this question by entering your answers in the tabs below. Print References Required 1 Required 2 Required 3 Compute the product margins for the Xtreme and the Pathfinder products under the activity-based costing system. (Round your intermediate calculations to 2 decimal places.) Xtreme Pathfinder Total Product margin $ 0 Chapter 7 i Saved Help Save & Exit Submit Check my work 17 Xtreme Pathfinder % of % of Total Amount Amount Total Total Amount Amount Amount Traditional Cost System 10 points Skipped Total cost assigned to products $ 0 $ 0 $ 0 eBook Xtreme Pathfinder Hint % of % of Total Amount Total Total Print Amount Amount Amount Amount References Activity-Based Costing System Direct costs: Indirect costs: Total cost assigned to products $ 0 $ 0 $ 0 Costs not assigned to products: Total cost $ 0