Terrific Inc. makes two styles of trophies, basic and deluxe, and operates at capacity. Terrific does large custom orders. Terrific budgets to produce 10,000 basic trophies and 5,000 deluxe trophies Manufacturing takes place in two production departments: forming and assembly. In the forming department, indirect manufacturing costs are accumulated in two cost pools, set up and general overhead. In the assembly department, all indirect manufacturing costs are accumulated in one general overhead cost pool. The basic trophies are formed in batches of 200 units per batch but because of the more intricate detail of the deluxe trophies, they are formed in batches of 50 units per batch. (Click the icon to view budgeted information.) Read the requirements. Requirement 1. Calculate the budgeted unit cost of basic and deluxe trophies based on a single plantwide overhead rate, if total overhead is allocated based on total direct costs. (Don't forget to include direct material and direct manufacturing labor cost in your unit cost calculation.) Start by calculating the total direct costs for the basic and deluxe trophies departments. Direct materials Forming Assembly Total direct materials Direct manufacturing labor Forming Assembly Total direct manufacturing labor Total direct costs Basic K Terrific Inc. makes two styles of trophies, basic and deluxe, and operates at capacity. Terrific does la Manufacturing takes place in two production departments: forming and assembly. In the forming depa overhead. In the assembly department, all indirect manufacturing costs are accumulated in one gene because of the more intricate detail of the deluxe trophies, they are formed in batches of 50 units per (Click the icon to view budgeted information.) Read the requirements. Requirement 1. Calculate the budgeted unit cost of basic and deluxe trophies based on a single plantw include direct material and direct manufacturing labor cost in your unit cost calculation.) Start by calculating the total direct costs for the basic and deluxe trophies departments. Direct materials Forming Assembly Total direct materials Direct manufacturing labor Forming Assembly Total direct manufacturing labor Total direct costs Basic rophies, basic and deluxe, and operates at capacity. Terrific does large custom orders. Terrific budgets to produce 10,000 basic trophies and 5,000 deluxe trophies. production departments: forming and assembly. In the forming department, indirect manufacturing costs are accumulated in two cost pools, set up and general dment all indirect manufacturing costs are accumulated in one general overhead cost.pool. The basic trophies are formed in batches of 200 units per batch but Data table The controller has asked you to compare plantwide, department, and activity-based cost allocation. Terrific Budgeted Information for the Year Ended November 30, 2020 Forming Department rhead is allocated based on total direct costs. (Don't forget to Basic Deluxe Total Direct materials $ 30,800 $ 24,200 $ 55,000 Direct manufacturing labor 30,100 22,400 52.500 Overhead costs: Set up 9,450 Overhead costs: General overhead 16,800 Assembly Department Direct materials Direct manufacturing labor. Basic Deluxe Total $ 5,300 $ 12,700 $ 18,000 15,800 22,200 38,000 Overhead costs: General overheadi 22,800 Print Done makes two styles of trophies, basic and deluxe, and operates at capacity. Terrific does large custom orders. Terrific budgets to prod ng takes place in two production departments: forming and assembly. In the forming department, indirect manufacturing costs are a n the assembly department, all indirect manufacturing costs are accumulated in one general overhead cost pool. The basic trophies the more int the icon to vi requirements ement 1. Calcul e direct material a by calculating the ct materials orming Assembly tal direct materials Direct manufacturing la Forming Assembly Total direct manufactur Total direct costs Requirements 1. Calculate the budgeted unit cost of basic and deluxe trophies based on a single plantwide overhead rate, if total overhead is allocated based on total direct costs. (Don't forget to include direct material and direct manufacturing labor cost in your unit cost calculation.) 2. Calculate the budgeted unit cost of basic and deluxe trophies based on departmental overhead rates, where forming department overhead costs are allocated based on direct manufacturing labor costs of the forming department and assembly department overhead costs are allocated based on total direct manufacturing labor costs of the assembly department. 3. Calculate the budgeted unit cost of basic and deluxe trophies if Terrific allocates overhead costs in each department using activity-based costing, where setup costs are allocated based on number of batches and general overhead costs for each department are allocated based on direct manufacturing labor costs of each department. 4. Explain briefly why plantwide, department, and activity-based costing systems show different costs for the basic and deluxe trophies. Which system would you recommend and why? Print Done - l overhead is alloc Cat mama haln CI