Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sylvan Company uses activity-based costing to determine product costs for external financial reports. Some of the entries have been completed to the manufacturing overhead account

Sylvan Company uses activity-based costing to determine product costs for external financial reports. Some of the entries have been completed to the manufacturing overhead account for the current year, as shown by entry (a) below. (a) Manufacturing Overhead 2,310,000 Required: 1. What does entry (a) represent? O Overhead appiled O Machine-hours O Actual manufacturing overhead cost incurred 2. At the beginning of the year, the company made the following estimates of cost and activity for its five activity cost pools Activity Cost Pool Labour related Purchase orders Parts sanagement Board etching General factory Activity Measure Direct labour-hours Number of orders Number of part types Number of boards Machine-hours Estimated Overhead Cost $ 555,000 44,70 360,000 Expected Activity 37,000 D 1,490 orders 39 part types 450,000 2.vol boards 628,050 29,506 19 Compute the activity rate (ie, predetermined overhead rate) for each of the activity cost pools. (Round your final answers to 1 decimal place.) Activity Cost Pool Labour related Purchase orders Parts management Board atching Actual Activity per direct labour-hours per order per part type per board Compute the activity rate (e. predetermined overhead rate) for each of the activity cost pools. (Round your final answers to 1 decimal place.) Activity Cost Pool Labour related Purchase orders Parts management Board etching General factory Actual Activity per direct labour-hours periorder per part type per board per machine-hours 3. During the year, actual activity was recorded as follows: Activity Cost Pool Labour related Purchase orders) Parts management Board etching General factory Actual Activity 19,900 OLH 1,100 orders 420 part types 2,120 boards 3,00 Determine the amount of manufacturing overhead cost applied to production for the year (Round Intermediate calculations to 1 decimal place and final answers to the nearest whole dollar amount.) Activity Cost Pool Applied Overhead Labour related Purchase orders Parts management Board etching General factory Total

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Working Papers

Authors: John G. Helmkamp

2nd Edition

0471514292, 978-0471514299

More Books

Students also viewed these Accounting questions

Question

b. Where did they come from?

Answered: 1 week ago

Question

c. What were the reasons for their move? Did they come voluntarily?

Answered: 1 week ago

Question

5. How do economic situations affect intergroup relations?

Answered: 1 week ago