Rosehut Olive Oil Company makes two grades of olive oil: standard and extra virgin. Rosehut has identified two activity cost pools, the related costs per pool, the cost driver for each pool, and the expected usage for each pool. Total Activity Activity Cost Cost Driver Standard Extra Virgin Washing, Pressing & Filtering (WPF) $1,842,750 Washing, Pressing, and Filtering hours 48,000 hours 109,500 hours Bottling $1,072,580 Number of bottles 330.000 bottles 82,500 bottles Additional Information about each grade of olive oil is as follows: Grade Standard. Extra Virgin Direct Direct Sales Materials Labor Revenue Costs Costs $5, 175,000 $900, 800 $375,000 $2,850,000 $600,000 $150,000 Required: 1. Calculate the activity rate for each cost pool. 2. Using the activity rates, determine the total amount of overhead assigned to each product 3. Determine total manufacturing cost for each product 4. Calculate the gross profit for each product Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the activity rate for each cost pool. (Round your answers to 2 decimal places.) Grade Standard Extra Virgin Direct Direct Sales Materials Labor Revenue Costs Costs 55,175,000 $900,000 $375,000 $2,850,000 $600,000 $150,000 Required: 1. Calculate the activity rate for each cost pool. 2. Using the activity rates, determine the total amount of overhead assigned to each product 3. Determine total manufacturing cost for each product 4. Calculate the gross profit for each product Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the activity rate for each cost pool. (Round your answers to 2 decimal places.) Cost Pool Activity Washing. Pressing & Fitoring (WPF) 3 1842.750.00 per hour 1972.500 per bottle Botting Hequired) >000,000 >100.000 Required: 1. Calculate the activity rate for each cost pool. 2. Using the activity rates, determine the total amount of overhead assigned to each product. 3. Determine total manufacturing cost for each product. 4. Calculate the gross profit for each product. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Using the activity rates, determine the total amount of overhead assigned to each product. (Round activity rates to 2 decimal places.) Standard Extra Virgin Overhead Overhead Activity Activity Rate Activity for Standard assigned to Activity for Standard Extra Virgin assigned to Extra Virgin WPF 48.000 Bottling 330,000 Total $ 0 $ 0 CALES Virgin >2,050,000 Popu, 000 > 130,00 Required: 1. Calculate the activity rate for each cost pool. 2. Using the activity rates, determine the total amount of overhead assigned to each product. 3. Determine total manufacturing cost for each product 4. Calculate the gross profit for each product. ok Complete this question by entering your answers in the tabs below. nices Required 1 Required 2 Required 3 Required 4 Determine total manufacturing cost for each product. Standard Extra Virgin Direct Materials Direct Labor ABC Overhead Total manufacturing costs $ 0 $ 0 Extra Virgin $2,850,000 $600,000 $150,000 Required: 1. Calculate the activity rate for each cost pool. 2. Using the activity rates, determine the total amount of overhead assigned to each product. 3. Determine total manufacturing cost for each product. 4. Calculate the gross profit for each product. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Calculate the gross profit for each product. Standard Extra Virgin Revenue Cost of goods sold Gross Profit $ 0 $ 0
