{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T16:06:25-04:00", "answer_date": "2024-05-27 16:06:25", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1788895", "url": "\/study-help\/questions\/smith-industries-manufactures-a-variety-of-custom-products-the-company-1788895", "question_creation_date_js": "2024-05-27T16:06:25-04:00", "question_creation_date": "May 27, 2024 04:06 PM", "meta_title": "[Solved] Smith Industries manufactures a variety o | SolutionInn", "meta_description": "Answer of - Smith Industries manufactures a variety of custom products. The company has traditionally used a plantwide manufacturi | SolutionInn", "meta_keywords": "smith,industries,manufactures,variety,custom,products,company,traditionally,plantwide,manufacturing,overhead,rate", "question_title_h1": " Smith Industries manufactures a variety of custom products. The company has traditionally used a plantwide manufacturing overhead rate based on machine hours to allocate", "question_title": " Smith Industries manufactures a variety of custom products. The company has", "question_title_for_js_snippet": "Smith Industries manufactures a variety of custom products The company has traditionally used a plantwide manufacturing overhead rate based on machine hours to allocate manufacturing overhead to its products The company estimates that it will incur $1,980,000 in total manufacturing overhead costs in the upcoming year and will use 12,000 machine hours Up to this point, hazardous waste disposal fees have been absorbed into the plantwide manufacturing overhead rate and allocated to all products as part of the manufacturing overhead process Recently, the company has been experiencing significantly increased waste disposal fees for hazardous waste generated by certain products, and as a result, profit margins on all products have been negatively impacted Company management wants to implement an activity based costing system so that managers know the cost of each product, including its hazardous waste disposal costs Expected usage and costs for manufacturing overhead activities for the upcoming year are as follows (Click the icon to view the expected usage and costs ) During the year, Job 352 is started and completed Usage for this job follows (Click the icon to view the usage for Job 352 ) Requirements Requirement 1 Calculate the cost of Job 352 using the traditional plantwide manufacturing overhead rate based on machine hours Begin by calculating the predetermined manufacturing overhead rate First, identify the formula used to compute the predetermined manufacturing overhead rate, then compute the rate (Abbreviations used MOH manufacturing overhead) Predetermined manufacturing overhead rate", "question_description": "\"image\"image\"image", "transcribed_text": "Smith Industries manufactures a variety of custom products. The company has traditionally used a plantwide manufacturing overhead rate based on machine hours to allocate manufacturing overhead to its products. The company estimates that it will incur $1,980,000 in total manufacturing overhead costs in the upcoming year and will use 12,000 machine hours. Up to this point, hazardous waste disposal fees have been absorbed into the plantwide manufacturing overhead rate and allocated to all products as part of the manufacturing overhead process. Recently, the company has been experiencing significantly increased waste disposal fees for hazardous waste generated by certain products, and as a result, profit margins on all products have been negatively impacted. Company management wants to implement an activity based costing system so that managers know the cost of each product, including its hazardous waste disposal costs. Expected usage and costs for manufacturing overhead activities for the upcoming year are as follows: (Click the icon to view the expected usage and costs.) During the year, Job 352 is started and completed. Usage for this job follows: (Click the icon to view the usage for Job 352.) Requirements Requirement 1. Calculate the cost of Job 352 using the traditional plantwide manufacturing overhead rate based on machine hours. Begin by calculating the predetermined manufacturing overhead rate. First, identify the formula used to compute the predetermined manufacturing overhead rate, then compute the rate. (Abbreviations used: MOH = manufacturing overhead) =Predetermined manufacturing overhead rate", "related_book": { "title": "Fundamental Managerial Accounting Concepts", "isbn": "71220720, 78110890, 9780071220729, 978-0078110894", "edition": "6th Edition", "authors": "Edmonds, Tsay, olds", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/67.jpg", "uri": "\/textbooks\/fundamentals-managerial-accounting-concepts-6th-edition-67", "see_more_uri": "" }, "free_related_book": { "isbn": "1984816233", "uri": "\/textbooks\/shouting-at-the-rain-978-1984816238-160915", "name": "Shouting At The Rain", "edition": "" }, "question_posted": "2024-05-27 16:06:25", "see_more_questions_link": "\/study-help\/questions\/business-management-leadership-2023-June-05", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/1200-kg-car-has-maximum-power-output-of-120hp.", "description": "A 1200-kg car has a maximum power output of 120hp. 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