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There is nothing to modify, it is the correct data. The FGF-IMPUT company uses the single rate method to impute its FGFs for the year
There is nothing to modify, it is the correct data.
The FGF-IMPUT company uses the single rate method to impute its FGFs for the year 2011. The imputation key chosen is MOD hours. At the end of this year 2011 and after compiling the actual data, you are asked to proceed with the calculations of the "over or under allocation" of the FGFs. You are given the following information: - Stock of raw materials - at the beginning of the year: $10,000 - at the end of the year: $20,000 - MP injected at the beginning of the process - Inventory of products in progress ohat the beginning of the year (completed to 1/4 ): 20,000 units =$185,000. ohat the end of the year (completed to 1/2 ): 10,000 units. - Number of units completed during the year: 110,000 units. - Stock of finished products ohat the beginning of the year: $125,000. ohat the end of the year: 20,000 units. - Total costs incurred during the year ohdirect labor: $400,000. ohraw material (Purchases): $360,000. ohmanufacturing overhead (actual): $800,000. - Expected manufacturing overhead: $840,000 - Expected MOD Hours: 300,000 hours - Actual MOD Hours: 330,000 hours - Sales during the year: $2,200,000 We ask you: 1. Preliminary calculations: has. Imputation rate used: b. Actual imputation rate (the one we should have used): vS. FGF imputed: d. MOD hours per unit of finished product: e. MOD hours per current unit: 2. Calculate the "over or under allocation" of FGFs for the year 2011 : The FGF-IMPUT company uses the single rate method to impute its FGFs for the year 2011. The imputation key chosen is MOD hours. At the end of this year 2011 and after compiling the actual data, you are asked to proceed with the calculations of the "over or under allocation" of the FGFs. You are given the following information: - Stock of raw materials - at the beginning of the year: $10,000 - at the end of the year: $20,000 - MP injected at the beginning of the process - Inventory of products in progress ohat the beginning of the year (completed to 1/4 ): 20,000 units =$185,000. ohat the end of the year (completed to 1/2 ): 10,000 units. - Number of units completed during the year: 110,000 units. - Stock of finished products ohat the beginning of the year: $125,000. ohat the end of the year: 20,000 units. - Total costs incurred during the year ohdirect labor: $400,000. ohraw material (Purchases): $360,000. ohmanufacturing overhead (actual): $800,000. - Expected manufacturing overhead: $840,000 - Expected MOD Hours: 300,000 hours - Actual MOD Hours: 330,000 hours - Sales during the year: $2,200,000 We ask you: 1. Preliminary calculations: has. Imputation rate used: b. Actual imputation rate (the one we should have used): vS. FGF imputed: d. MOD hours per unit of finished product: e. MOD hours per current unit: 2. Calculate the "over or under allocation" of FGFs for the year 2011Step by Step Solution
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