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Single Plantwide Factory Overhead Rate Scrumptious Snacks Inc. manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. The company has budgeted the
Single Plantwide Factory Overhead Rate Scrumptious Snacks Inc. manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. The company has budgeted the following costs for the upcoming period: Factory depreciation $16,607 Indirect labor 41,156 Factory electricity 4,693 Indirect materials 9,748 Selling expenses 23,105 Administrative expenses 12,997 Total costs $108,306 Factory overhead is allocated to the three products on the basis of processing hours. The products had the following production budget and processing hours per case: Budgeted Volume (Cases) Processing Hours Per Case Tortilla chips 4,800 0.12 Potato chips 4,800 0.10 Pretzels 3,900 0.15 Total 13,500 If required, round all per-case answers to the nearest cent. a. Determine the single plantwide factory overhead rate. $fill in the blank 1 per processing hour b. Use the overhead rate in (a) to determine the amount of total and per-case overhead allocated to each of the three products under generally accepted accounting principles. Total Factory Overhead Per-Case Factory Overhead Tortilla chips $fill in the blank 2 $fill in the blank 3 Potato chips fill in the blank 4 fill in the blank 5 Pretzels fill in the blank 6 fill in the blank 7 Total $fill in the blank 8 72,204
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