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Plyler Plastics Company produces a variety of custom plastics products for a worldwide clientele. The company's cost accounting manager, Martha Johns, is beginning to implement an activity-based costing system and has gathered data on the quality inspections activity. She is unsure what the most appropriate driver is for this activity cost pool, but she is considering number of units produced, number of batches produced, machine hours, and direct labor hours. She has gathered weekly information for the past two years and has asked you to help her determine which activity driver to select. Click here to view the data in Excel. (b) Using Excel's CORREL formula, determine the correlation between each activity driver level and the inspections cost. (Round answers to 3 decimal places, e.g. 52.752. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Correlation Units produced Machine hours Batches Direct labor hours G K L M N Problem 7-21 - Comparing traditional and ABC costs onWN- Name: Course: Date: Ellis Perry is an electronics components manufacturer. Information about the company's two products follows: AM-2 FM-9 Units produced Direct labor hours required for production Units per batch Shipping weight per unit 15,000 15,000 3,000 0.5 lbs. 2,000 14,000 50 4 lbs. o N The company incurs $899,000 in overhead per year and has traditionally applied overhead on the basis of direct labor hours. 18 Required a. How much overhead will be allocated to each product using the traditional direct labor hours allocation base? What overhead cost per unit will be allocated to each product? 20 Here's one way you could solve this problem: Overhead Rate Estimated Overhead Estimated Cost Driver [Figure] [Figure] [Formula] AM-2 [Formula] FM-9 [Formula) Total overhead to product Total overhead to product + Number of units produced = Overhead per unit AM-2 [Formula) [Figure] [Formula) FM-Y [Formula) [Figure] [Formula) Or solve your own way: 45 43 b. Assume that Ellis Perry has identified three activity cost pools. 44 Pool Cost Assembly $638,000 121,500 Packaging 139,500 46 Cost Driver Direct labor hours Number of setups (1 per batch) Weight Setup 49 Given these activity pools and cost drivers, how much overhead should be allocated to each product? What overhead cost per unit will be allocated to each product? Solve: 59 c. Explain the change in overhead costs per unit. Answer: Plyler Plastics Company produces a variety of custom plastics products for a worldwide clientele. The company's cost accounting manager, Martha Johns, is beginning to implement an activity-based costing system and has gathered data on the quality inspections activity. She is unsure what the most appropriate driver is for this activity cost pool, but she is considering number of units produced, number of batches produced, machine hours, and direct labor hours. She has gathered weekly information for the past two years and has asked you to help her determine which activity driver to select. Click here to view the data in Excel. (b) Using Excel's CORREL formula, determine the correlation between each activity driver level and the inspections cost. (Round answers to 3 decimal places, e.g. 52.752. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Correlation Units produced Machine hours Batches Direct labor hours G K L M N Problem 7-21 - Comparing traditional and ABC costs onWN- Name: Course: Date: Ellis Perry is an electronics components manufacturer. Information about the company's two products follows: AM-2 FM-9 Units produced Direct labor hours required for production Units per batch Shipping weight per unit 15,000 15,000 3,000 0.5 lbs. 2,000 14,000 50 4 lbs. o N The company incurs $899,000 in overhead per year and has traditionally applied overhead on the basis of direct labor hours. 18 Required a. How much overhead will be allocated to each product using the traditional direct labor hours allocation base? What overhead cost per unit will be allocated to each product? 20 Here's one way you could solve this problem: Overhead Rate Estimated Overhead Estimated Cost Driver [Figure] [Figure] [Formula] AM-2 [Formula] FM-9 [Formula) Total overhead to product Total overhead to product + Number of units produced = Overhead per unit AM-2 [Formula) [Figure] [Formula) FM-Y [Formula) [Figure] [Formula) Or solve your own way: 45 43 b. Assume that Ellis Perry has identified three activity cost pools. 44 Pool Cost Assembly $638,000 121,500 Packaging 139,500 46 Cost Driver Direct labor hours Number of setups (1 per batch) Weight Setup 49 Given these activity pools and cost drivers, how much overhead should be allocated to each product? What overhead cost per unit will be allocated to each product? Solve: 59 c. Explain the change in overhead costs per unit