Required information [The following information applies to the questions displayed below.) Cary Company manufactures two models of industrial components-a Standard model and an Advanced Model. It has provided the following information with respect to these two products: $ 40 Standard Advanced Number of units produced and sold 20,000 10,000 Selling price per unit $ 150 $ 200 Direct materials per unit $ 60 Direct labor cost per unit $ 30 $ 30 Direct labor-hours per unit 1.50 1.50 The company considers all of its manufacturing overhead costs ($1,346,250) to be fixed and it uses plantwide manufacturing overhead cost allocation based on direct labor-hours, Click here to download the Excel temolote, which you will use to answer the questions that follow Click here for o a brief tutorial on Charts in Excel. 4. Go to the tab titled "Activity-Based Cost Analysis". Create formulas in cells B2 through C5 that compute the percent of each activity's total cost that is allocated to each product. (Hint: If you complete this step correctly, the percentages shown in column D will total 100%) 45. What percent of each of the four activities is allocated to the Standard model? The Advanced model? 4c. Using Charts, create a 100% stacked bar chart that shows the percent of each activity's total cost that is allocated to each product. (Hint: This chart should refer to the percentages that you computed in cells B2 through 5.) (Your instructor may require you to upload this file in Part 6). Which of the following statements is true with respect to the chart? Complete this question by entering your answers in the tabs below. 4a. Go to the tab titled "Activity-Based Cost Analysis". Create formulas in cells B2 through C5 that compute the percent of each activity's total cost that is allocated to each product. (Hint: If you complete this step correctly, the percentages shown in column will total 100%) 4b. What percent of each of the four activities is allocated to the Standard model? The Advanced model? 4c. Using Charts, create a 100% stacked bar chart that shows the percent of each activity's total cost that is allocated to each product (Hint: This chart should refer to the percentages that you computed in cells B2 through C5.) (Your instructor may require you to upload this file in Part 6). Which of the following statements is true with respect to the chart? Complete this question by entering your answers in the tabs below. Reg 40 Reg 4C What percent of each of the four activities is allocated to the Standard model? The Advanced model? Standard Advanced Model Model Assemble and pack % Machining % Order processing % % Setups % % KRAB Req4C > 4. Go to the tab titled "Activity-Based Cost Analysis". Create formulas in cells B2 through C5 that compute the percent of each activity's total cost that is allocated to each product. (Hint: If you complete this step correctly, the percentages shown in column D will total 100%) 46. What percent of each of the four activities is allocated to the Standard model? The Advanced model? 4c. Using Charts, create a 100% stacked bar chart that shows the percent of each activity's total cost that is allocated to each product. (Hint: This chart should refer to the percentages that you computed in cells B2 through C5.) (Your instructor may require you to upload this file in Part 6). Which of the following statements is true with respect to the chart? Complete this question by entering your answers in the tabs below. Req 4C Reg 48 Using Charts, create a 100% stacked bar chart that shows the percent of each activity's total cost that is allocated to each product . (Hint: This chart should refer to the percentages that you computed in cells B2 through cs.) Which of the following statements is true with respect to the chart? The Assemble and Pack cost allocation percentages match the overhead cost allocation percentages using the plantwide approach The Machining contailocation percentages match the overhead cost allocation percentages using the plantwido approach The Order Processing cost allocation percentages match the overhead cost allocation percentages using the plantwide approach The Setups cost allocation percentages match the overhead cost allocation percentages using the plantwide approach 5a. Go to the tab titled "Cost Allocation Comparison." Create formulas in cells B2 through C3 that compute the total overhead cost allocated to each product using the plantwide and activity-based approaches. (Hint: If you complete this step correctly, the dollar amounts shown in cells D2 and D3 should both equal $1,346,250.) 5b. How much overhead is allocated to the Standard and Advanced models using the plantwide approach (cells B2 and C2)? How much overhead is allocated to the Standard and Advanced models using the activity-based approach (cells B3 and C3)? 5c. Using Charts, create a bar chart that includes the following design elements: (1) it will include two bars pertaining to the Standard model followed by two bars pertaining to the Advanced model (2) the first bar for each model will quantify the model's total manufacturing overhead cost according to the plantwide approach, whereas each model's second bar will quantify the model's total manufacturing overhead cost according to the activity-based approach. (Your instructor may require you to upload this file in Part 6). 5d. Based on your completed bar chart, which model is overcosted using the plantwide approach? Which model is undercosted? Complete this question by entering your answers in the tabs below. Reg 5B Reg 5 Based on your completed bar chart, which model is overcosted using the plantwide approach? Which model is undercosted? The plantwido approach the Standard model The plantwide approach the Advanced model 4. Go to the tab titled "Activity-Based Cost Analysis". Create formulas in cells B2 through C5 that compute the percent of each activity's total cost that is allocated to each product. (Hint: If you complete this step correctly, the percentages shown in column D will total 100%) 46. What percent of each of the four activities is allocated to the Standard model? The Advanced model? 4c. Using Charts, create a 100% stacked bar chart that shows the percent of each activity's total cost that is allocated to each product. (Hint: This chart should refer to the percentages that you computed in cells B2 through C5.) (Your instructor may require you to upload this file in Part 6). Which of the following statements is true with respect to the chart? Complete this question by entering your answers in the tabs below. Req 4C Reg 48 Using Charts, create a 100% stacked bar chart that shows the percent of each activity's total cost that is allocated to each product . (Hint: This chart should refer to the percentages that you computed in cells B2 through cs.) Which of the following statements is true with respect to the chart? The Assemble and Pack cost allocation percentages match the overhead cost allocation percentages using the plantwide approach The Machining contailocation percentages match the overhead cost allocation percentages using the plantwido approach The Order Processing cost allocation percentages match the overhead cost allocation percentages using the plantwide approach The Setups cost allocation percentages match the overhead cost allocation percentages using the plantwide approach 5a. Go to the tab titled "Cost Allocation Comparison." Create formulas in cells B2 through C3 that compute the total overhead cost allocated to each product using the plantwide and activity-based approaches. (Hint: If you complete this step correctly, the dollar amounts shown in cells D2 and D3 should both equal $1,346,250.) 5b. How much overhead is allocated to the Standard and Advanced models using the plantwide approach (cells B2 and C2)? How much overhead is allocated to the Standard and Advanced models using the activity-based approach (cells B3 and C3)? 5c. Using Charts, create a bar chart that includes the following design elements: (1) it will include two bars pertaining to the Standard model followed by two bars pertaining to the Advanced model (2) the first bar for each model will quantify the model's total manufacturing overhead cost according to the plantwide approach, whereas each model's second bar will quantify the model's total manufacturing overhead cost according to the activity-based approach. (Your instructor may require you to upload this file in Part 6). 5d. Based on your completed bar chart, which model is overcosted using the plantwide approach? Which model is undercosted? Complete this question by entering your answers in the tabs below. Reg 5B Reg 5 Based on your completed bar chart, which model is overcosted using the plantwide approach? Which model is undercosted? The plantwido approach the Standard model The plantwide approach the Advanced model
