ACCT230-Week 4 Homework

Job 007 requires $10,000 of direct materials, $4,000 of direct labor, 400 tons of material, 200 machine hours, two setups, ten inspection hours, and one design change. The manufacturing overhead cost pools and overhead rates in each pool follow: Cost Pool Overhead Rate Material handling $20/ton of material Machine usage $40/machine hour Machine setups $1,000/set-up Design changes $2,000/design change Inspection $50/inspection hour Determine the cost of Job 007.

Problem Activity Based Costing Zeta company has identified the following overhead costs and cost drivers for the upcoming year Expected Costs Overhead Item Cost Driver Quantity Number of Setup costs $45,000 300 setups Number of Material Handling $90,000 7,500 material moves Number of Quality Cost $150,000 6,000 Inspections Machining Cost $67,500 Machine Hours 900 Total $352,500 The following information was collected on three jobs that were completed during the year Job 201 $6,000 $2,800 Job 202 $12,000 $2,000 Job 203 $8,000 $4,000 Direct materials Direct labor Units completed 30 150 Direct labor-hours 18 22 15 Machine hours 10 50 10 Number of setups 1 4 Number of Inspections 10 30 Number of material 10 50 moves For the year the company budgeted direct labor cost of $100,000, budgeted direct material cost of $280,000, and estimated labor hours of 5,000. Determine the unit cost for each job using Activity Based Costing. (Round amounts to 2 decimal places.) 20 30

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The overhead application rate

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What is the Manufacturing overhead allocated?

How do I calculate the cost of job 845 using a machine our departmental overhead rate for the milling department and then direct labor our overhead rate for the finishing department?

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Honeywell Industries has the following overhead costs and cost drivers. Direct labor hours are estimated at 100,000 for the year. Activity Cost Pool Ordering and Receiving Machine Setup Machining Assembly Inspection $0.22 Cost Driver Orders Setups Machine hours $1.34 $1.86 $0.47 Parts Inspections Estimated Overhead $21,500 $31,100 $46,500 $51,600 $35,400 Cost Driver Activity. 500 orders 450 setups 125,000 hours 1,000,000 parts Overhead is applied using traditional costing based on direct labor hours. What is the overhead application rate? 500 inspections 45

How much overhead should be applied to job

Company LSD LTD has 4 types of overhead . The four categories and expected costs for each category for next year are listed below Company LSD LTD   Activity cost   Setups cost $150,000 Inspection cost $90,000 Maintenance cost $120,000 Material Handling cost $ 82,000 Actual overhead Cost           $30,000   Estimates for the proposed job [Job #23] are as follows Direct Materials $6,000 DL (1000 hours) $10,000 Machine Hours [maintenance cost] 500 # of material moves 12 # of setups 5 # of inspections 10 Units produced 240   The company has been asked to submit a bid for a proposed job. The plant manager thinks getting this job would result in new business in future years.  Usually bids are based upon full manufacturing cost plus 30%.   In the past , full manufacturing cost has been calculated by allocating overhead using volume based cost driver [[DLH]. The plant manager has heard of a new way of…

After reviewing the new activity-based costing system that Nancy Chen has implemented at IVC's CenterPoint manufacturing facility, Tom Spencer, the production supervisor, believes that he can reduce production costs by reducing the time spent on machine setups. He has spent the last month working with employees in the plant to change over the machines more quickly with the same reliability. He plans to produce 109,000 units of the Sport model and 44,500 units of the Pro model in the first quarter. He believes that with his more efficient setup routine, he can reduce the number of setup hours for both the Sport and the Pro products by 34 percent. Cost Drivers and Cost Driver Volumes-CenterPoint Manufacturing Facility Activity Assembly building Assembling Setting up machines Handling material Packaging building Inspecting and packing: Shipping Direct material Direct labor Assembly Packaging. Total direct labor. Direct costs Overhead Assembly building Cost Driver SAREEFFSENEGER…

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