Voisine Products manufactures to products in two separate departments Machining and Assembly Total manufacturing overhead costs for the year are budgeted at $1,050,000 of this amount, the Machining Department incurs $650.000 (primarily for machine operation and depreciation) whie the Assembly Department incurs $400,000. The company estimates that it will incur 5.000 machine hours (all in the Machining Department) and 10,000 direct labor hours (2,000 in the Machining Department and 8,000 in the Asserably Department) during the year. (Click the loon to view the additional information) Read the requirements Requirement 1. Compute the company's current plantwide overhead rate (Round your answer to the nearest dolar) Begin by determining the formula, the compute the role Panwide overhead role per DL hour Requirement 2. Computere ned departmental overhead rates Oetermining the formula, then computers Rould your answers to the nearest do Departmental overhead rate Machining per mach hou Assembly per DL hour Ranurament which in l.in on Inhas menthemis Fan Voisine Products manufactures its products in two separate departments Machining and Assemby Total manufacturing overhead costs for the year are budte at 1.050.000 of this amount, the Machining Department incurs 5650,000 (primarily for machine operation and depreciation) while the Assembly Department incurs 5400,000. The company estimates that it we incur 5.000 machine hours (all in the Machining Department, and 10,000 direct labor hours (2.000 in the Machining Department and 8,000 in the Assembly Department during the year Click the loon to view the additional information) Read the courements Requirement 3. Which pob Job 600 or Job 501) ter more of the company's resources ? Explain of the company's resources machine hours than the other job. The accounting system should show that one job actually Requirements. Compute the total amount of overhead allocated to each job if the company is its current plantside overhead Job 500 Job 501 Total direct labor hours Plantwide alocation rate Overhead alocation Requirements. Compute the total amount of overheat located to each pb if the company to departmental ortadas the other Choose from any fist or enter number in the input fields and then continue to the next question Voisine Products manufactures is products in two separate departments: Machining and Assembly. Total manufacturing overhead costs for the year are budgeted at $1050,000. Of this amount, the Machining Department incurs $650,000 (primarily for machine operation and depreciation) while the Assembly Department incurs $400.000. The company estimates that wil Incur 5,000 machine hours (all in the Machining Department, and 10,000 direct labor hours (2,000 in the Machining Department and 8,000 in the Assembly Department) during the year. (Click the icon to view the additional information) Read the requirements Requirements. Compute the total amount of overhead allocated to each job if the company uses departmental overhead tates Job 500 Job 501 Overhead allocation. Machining Department Overhead allocation - Assembly Department Total overhead allocation Requirement 6. Do both of the allocation systems accurately reflect the resources cach job used? Explain The single plantwide overhead role assigned of overhead tobom job. The departmental ratonasson used. This seems to Job 501 than Job 500 due to the Requirement 7. Compute the total manufacturing cool and sale price of each job using the company's current plantwide overhead rato Round amounts to the nearest dotat. Enter the porcentage as a whole number) ats 0 Voisine Products manufactures its products in two separate departments Machining and Assembly Total manufacturing overhead costs for the year are budgeted at 51.050.000 of this amount, the Machining Department incurs $650,000 (primarly for machine operation and depreciation) who the Assembly Department incurs $400,000. The company estimates that it will incur 5.000 machine hours (all in the Machining Department) and 10.000 direct labor hours (2,000 in the Machining Department and 8,000 in the Assembly Department) during the year. (Click the icon to view the additional information) Read the requirements Requirement 7 Compute the total manufacturing cost and sales price of each ot using the company's current plannwide overhead rate. Vround amounts to the nearest coher Enter no Job 500 Job 501 Direct materials Direct labor Manufacturing overhead Total manufacturing costs Markup for pricing (%) Sales price how much profit did the company think it earned on each job? Requirement 8. Based on the current plantwide) allocation Calculate the gross profit using the current conting system Read the requirements Requirement 8. Based on the current (plantwide) allocation system how much profit did the company think it earned on each job? Calculate the gross profit using the current conting system Job 500 Job 501 sales price Less: Total manufacturing costs Gross profils Based on the departmental overhead rates and the ses price determined in Requirement 7. how much crot did the company owly warn on each job? Calculate the gross profit using the departmental rate conting system. (Use parts of a minissgn to show losos) Job 500 Job 501 Se price Voisine Products manufactures its products n two separate departments Machining and Assembly. Total manufacturing overhead costs for the year are budgeted at $1,050,000 of this amount the Machining Department incurs $850,000 (primarily for machine operation and depreciation) while the Assembly Department nours $400,000. The company estimates that will incur 5,000 machine hours (all in the Machining Department and 10.000 director hours (2,000 n the Machining Department and 8.000 in the Assembly Department during the year (Click the icon to view the additional information) Read the requirements Job 500 Job 501 Snes price Less: Total manufacturing com Direct materials Direct labor Montacturing overhead Gross proft loss Requirement 9. Compare and comment on the result you obtained in Rocurements 7 and 8 When ublizing a single rate allocation method, Voisine boleves that Whenting a refined costing method, Voltino realizes that o Products manufactures its product the Machining Department incurs 500 machine hours (all in the Mach Data Table ck the icon to the additionat are budgeted at $1,050,000. Of this boo. The company estimates that it will Jembly Department) during the year. Tablements price Total manufacturing costs c materials labor nufacturing overhead prot poss) uirement 9. Compare and commento en utilaing a single rate allocation met en utilizing a refined costing method Voisine Products currently uses a plantwide overhead rate based on direct labor hours to allocate overhead. However, the company is considering refining is overhead location system by using departmental overhead rates. The Machining Department would allocate its overhead using machine hours (MH), but the Assembly Department would allocates overhead using direct labor (DL) hours. The following chart shows the machine hours (MH) and direct labor (DL) hours incurred by Jobs 500 and 50: in each production department Machining Assembly Department Department Job 500 4 MH 10 DL hours 2 DL hours Job 501 8 MH 10 DL hours 2 DL hours Boh Jobs 500 and 501 used $1,000 of direct materials Wages and benefits total $20 per direct labor hour Voisine Products prices its products at 110% of total manufacturing costs Print Done liet