Question 1, 84-6 (similar to) ) HW Score: 0%, 0 of 7 points 10) Part 1 of 5 '0 Points: 0 of 1 ' Olivo Industries, a small, familyrun manufacturer, has adopted an ABC system. The following manufacturing activities, indirect manufacturing _ costs, and usage of cost drivers have been estimated for the year: E (Click the icon to View activities, total costs, and cost drivers.) 0 (Click the icon for additional information.) ' \\ \\ Read the muiremenis. 1. Compute the activity cost akacation rates for the year. (Round your anewars to the nearest whole dollar.) First determine the formula to compute the allocation rate for the activity-based cost rate, then calculate the rate for each activity. J' Jr; l ' V r 2 Activity cost allocaon rate Question 1, S4-6 (similar to) HW Score: 0%, 0 of 7 points Homework Part 1 of 5 O Points: 0 of 1 Olivo Industries, a small, family-run manufacturer, has adopted an ABC system. The following manufacturing activities, indir K costs, and usage of cost drivers have been estimated for the year: (Click the icon to view activities, total costs, and cost drivers.) i (Click the icon for additional information.) Read the requirements. X Data table 1. C ole dollar.) First alculate the rate for each activ Estimated Total Manufacturing Estimated Total Usage Activity cost allocation rate Activity Overhead Costs of Cost Driver Machine setup . .... . . . $ 147,000 3,000 setups Machining . .. . . . . . ... $ 790,500 5,100 machine hours Quality control . . . . ... $ 242,000 4,400 tests run Print Doneework Question 1, $4-6 (similar to) HW Score: 0%, 0 of 7 points Part 1 of 5 O Points: 0 of 1 Save Olivo Industries, a small, family-run manufacturer, has adopted an ABC system. The following manufacturing activities, indirect manufacturing costs, and usage of cost drivers have been estimated for the year: (Click the icon to view activities, total costs, and cost drivers.) i (Click the icon for additional information.) Read the requirements. X More info liar.) e the rate for each activity. During May, James and Civilla Olivo machined and assembled Job 456. James by cost allocation rate worked a total of 11 hours on the job, while Civilla worked 4 hours on the job. James is paid a $25 per hour wage rate, while Civilla is paid $28 per hour because of her additional experience level. Direct materials requisitioned for Job 456 totaled $1,100. The following additional information was collected on Job 456: The job required 2 machine setups, 5 machine hours, and 3 quality control tests. Print Donework Question 1, $4-6 (similar to) HW Score: 0%, 0 of 7 points Part 1 of 5 O Points: 0 of 1 Save Olivo Industries, a small, family-run manufacturer, has adopted an ABC system. The following manufacturing activities, indirect manufacturing costs, and usage of cost drivers have been estimated for the year: (Click the icon to view activities, total costs, and cost drivers.) i (Click the icon for additional information.) Read the requirements. 1. Con whole dollar.) -X First de Requirements calculate the rate for each activity. Activity cost allocation rate 1. Compute the activity cost allocation rates for the year. 2 . Complete the job cost record for Job 456. Print Done