ck here to enter cengagenoV X My Home X * CengageNOWv2 |Online teach X D Target Costing | Formula | Exan X n/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3Dfalse Calculator ACIVITY-Baseu Costing In order to compare WoolCorp's current method with activity-based costing, you interview the production staff and compile the following information, which relates to the costs for raw wool and wool yarn. Type of Cost Activity Base Total Cost Sorting Hours of sorting $25,600 Cleaning Units of cleaning machine power 38,400 Combing Hours of combing machine use 1,400 Raw Wool Wool Yarn Hours of sorting required 800 3,200 Units of cleaning machine power required 1,920 4,480 Hours of combing machine use required 70 30 In the following table, compute and enter the activity rate for each of the three activities. If required, round your answers to the nearest cent. Activity Activity Rate Sorting 40 X per sorting hour Cleaning per unit of cleaning machine power Combing per hour of combing machine use In the following table, allocate the costs of sorting, cleaning, and combing based on the rates of activity consumed by each product's process. When required, round your answers to the nearest dollar. Check My Work 6 more Check My Work uses remaning. 9:27 PM 4/17/2020 F6 F8 F9 F10 F11 F12 Home End Insert

Question

Could I'm ou help me find the activity rates for sorting , cleaning , and combing 

ck here to enter cengagenoV X
My Home
X * CengageNOWv2 |Online teach X
D Target Costing | Formula | Exan X
n/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3Dfalse
Calculator
ACIVITY-Baseu Costing
In order to compare WoolCorp's current method with activity-based costing, you interview the production staff and compile the following information,
which relates to the costs for raw wool and wool yarn.
Type of Cost
Activity Base
Total Cost
Sorting
Hours of sorting
$25,600
Cleaning
Units of cleaning machine power
38,400
Combing
Hours of combing machine use
1,400
Raw Wool
Wool Yarn
Hours of sorting required
800
3,200
Units of cleaning machine power required
1,920
4,480
Hours of combing machine use required
70
30
In the following table, compute and enter the activity rate for each of the three activities. If required, round your answers to the nearest cent.
Activity
Activity Rate
Sorting
40
X per sorting hour
Cleaning
per unit of cleaning machine power
Combing
per hour of combing machine use
In the following table, allocate the costs of sorting, cleaning, and combing based on the rates of activity consumed by each product's process. When
required, round your answers to the nearest dollar.
Check My Work 6 more Check My Work uses remaning.
9:27 PM
4/17/2020
F6
F8
F9
F10
F11
F12
Home
End
Insert
View transcribed image text
Expand

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Business
Accounting

Cost Accounting

Related Accounting Q&A

Find answers to questions asked by students like you.

Q: Costs per Equivalent Unit and Production Costs The following information concerns production in the ...

A: Perpetual inventory system: The method or system of maintaining, recording, and adjusting the invent...

Q: Use the DuPont method of profitability analysis to explain differences in 2017 ROIs between the two ...

A: Return on investment is the measurement of determining the gain earned or the loss incurred from the...

Q: How should managers consider income tax issues when choosing a transfer-pricing method?

A: Managers should consider income tax issues when choosing a transfer pricing method. 

Q: 10   Under the modified accrual basis of accounting, revenues should be recognized when   Multip...

A: The correct answer is Fourth Option.

Q: (a) If Current Ratio is 2:1 state giving reason of the following transactionwould(i) Improve (ii) Re...

A: Current Ratio = Current Asset / Current Liabilities In this question, it is given it is 2:1 Therefor...

Q: Haynes, Inc., obtained 100 percent of Turner Company’s common stock on January 1, 2017, by issuing 9...

A:   1.  

Q: On January 1, 2019, the stockholders’ equity section of Intercontinental Corporation shows: Common s...

A: Solution: Date Particulars Debit Credit March 1 Share capital A/c 660,000       To cash A/c  ...

Q: Malibu Corporation has monthly fixed costs of $192,000. It sells 2 products for which it has provide...

A: A) In order to find out Breakeven sales for relative mix of 40% for product 1 and 60% for product 2,...

Q: The following data refer to Clear Panes, a division of Global Corporation. Clear Panes makes and sel...

A:  

Q: During January, Luxury Cruise Lines incurs employee salaries of $2.9 million. Withholdings in Januar...

A: Payroll Journal entries are the part of payroll account and it include many items such as gross sala...

Q: Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable DVD playe...

A: Definition:   Last-in-First-Out (LIFO): In Last-in-First-Out method, the last purchased items are so...

Q: What are the different types of liquidity ratios in accounting?

A: Liquidity measures: Liquidity measures denote a company’s capacity to meet its current liabilities. ...

Q: Quest Motors, Inc., operates as a decentralized multidivision company. The Vivo division of Quest Mo...

A:  

Q: Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.) $...

A: Rate of interest 12% for one year and 3% for quarterly Hence R = 3% No.of periods = 4

Q: How are Specific donations treated while preparing final accounts of a ‘Not-For-Profit Organisation’...

A: A 'Not-for-Profit Organisation' or NPO are certain organizations that are set up for providing servi...

Q: Use after-tax operating income and the individual cost of capital of each division to calculate resi...

A: Computation is represented as below: Hence, as per the computation, United States is having the hig...

Q: What is one potential limitation of full-cost-based transfer prices?

A: Full cost based transfer pricing means transfer price based on total product cost per unit which wil...

Q: Wonkies, Inc. is a large company that owns fast-food restaurants, has a soft drink division, and a s...

A: Residual income is the income that is generated in excess more than the required rate of return. It ...

Q: Calculate residual income (RI) for each division using operating income as a measure of income and t...

A: Residual income: The remaining income from operations after deducting the desired acceptable income ...

Q: Required: Compute the materials price and quantity variances for the month. EXERCISE 10-8 Direct Mat...

A: Variance: When the actual cost is different from the standard cost, it is called variance. If the ac...

Q: What is the difference between the cash basis and the accrual basis of accounting?

A: Cash basis of accounting is the accounting in which expenses and income are recorded only when they ...

Q: Give two examples of capital receipts which are directly added to the capital fund.

A: Not for profit organizations: The business entities whose motive of business is not to reap economic...

Q: Kavita and Lalit are partners sharing profits in the ratio of 2:1. They decide to admit Mohan with s...

A: Admission of partner: When firm requires additional capital or managerial assistance or both for the...

Q: If a fixed amount is withdrawn on the first day of every quarter, for what period the interest on to...

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions t...

Q: Good afternoon

A: Given Accounts Receivable is $250,000 Estimate of uncollectible receivable is 8% of accounts receiva...

Q: When information about two different enterprises have been prepared presented in a similar manner th...

A: When information of 2 different enterprises have been prepared & presented in a similar manner, ...

Q: What is a management control system?

A: The management control system is a system made to collect information and use that information for t...

Q: 5-10

A: Contribution Margin: The process or theory which is used to judge the benefit given by each unit of...

Q: What is a contingent liability?

A: Liabilities are legitimately restricting commitments that are payable to someone else. In accounting...

Q: Required information [The following information applies to the questions displayed below.] Apple Inc...

A: Introduction: Gift cards or gift certificates are sold by a business to customers to allow them to p...

Q: I am stuck on June 30th. Declared a five percent stock divided on all outstanding shares of common s...

A: Please find below the journal entries which you were doing wrong:

Q: Acme Company recently introduced a new bonus plan for its corporate executives. The company believes...

A: Net Income:   It refers to the remaining money with the company after all operating expenses, intere...

Q: (a) A business has current Ratio of 4:1 & a Quick Ratio of 1.2:1 . Ifworking capital is Rs. 1800...

A: 1) Given, Current Ratio = 4:1 and Quick Ratio = 1.2:1, Working Capital = 180000. Lets solve this sum...

Q: What are the key elements of GPK?

A:  GPK stands for Grezplankostenrechnung   Flexible margin costing or GPK is a time-tested cost accou...

Q: On January 1, a company received advanced membership payments of $300 from a customer for the next 6...

A:  Company's equity is basically utilized in fundamental analysis for deciding the net value of the co...

Q: Radha, Mary and Fatima are partners sharing profits in the ratio of 5:4:1.Fatima is given a guarante...

A: Profit of 35,000 will be distributed to partners in the ratio if 5:4:1. Fatima is guaranteed profit ...

Q: On March 31, the end of the first year of operations, Barnard Inc., manufactured 3,200 units and sol...

A: Cost of goods sold per unit: Formulas;

Q: Comfy Corporation manufactures furniture in several divisions, including the patio furniture divisio...

A: Return on investment (ROI): This financial ratio evaluates how efficiently the assets are used in ea...

Q: Under which head is the ‘Debenture Redemption Reserve’ shown in the Balance Sheet?

A: Balance sheet: Balance Sheet is one of the financial statements that summarize the assets, the liabi...

Q: Tanner-unf corporation acquired as a long-term investment 245 million of 8% bonds, dated July 1, on ...

A: Definition:   Bonds: A bond is a debt instrument, which is repaid along with a specific rate of inte...

Q: The periodic total of sales return journal is posted to :(i) Sales account(ii) Goods account(iii) Pu...

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions t...

Q: Distinguish between ‘Receipts and Payments Account’ and ‘Income and Expenditure Account’ on the basi...

A: Table showing difference between" Receipts and Payment Accounts" and "Income and Expenditure Account...

Q: List any three objectives of financial statements?

A: Objectives of financial statements: The objective of financial statement is to enable the various us...

Q: Anirudh Ltd. Has 4000, 8% debentures of Rs. 100 each due for redemption on March 31,2005. The compan...

A:                                                                             JOURNAL ENTRIES Date ...

Q: Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for prepaid cell phone...

A: Last in First out method Date Purchase Sales Balance   units Cost per unit Total ...

Q: Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item PK95 are as follow...

A: Last-in-First-Out (LIFO): In the Last-in-First-Out method, the last purchased items are sold first. ...

Q: On June 1, Bramble Company borrows $85,500 from First Bank on a 6-month, $85,500, 8% note. 1.Prepare...

A: A note payable is a promissory note issued by the company for raising an amount of money. A fixed ra...

Q: Concord Company borrows $52,800 on July 1 from the bank by signing a $52,800, 12%, one-year note pay...

A: Journal: Journal is the book of original entry. Journal consists of the day-to-day financial transac...

Q: Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item Gidget are as foll...

A: In LIFO method, the goods received last are dispatched first. In perpetual inventory system, the inv...

Q: Equivalent Units of Materials Cost The Rolling Department of Oak Ridge Steel Company had 4,400 tons ...

A: Compute the equivalent units for direct materials.

Transcribed Image Text

ck here to enter cengagenoV X My Home X * CengageNOWv2 |Online teach X D Target Costing | Formula | Exan X n/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3Dfalse Calculator ACIVITY-Baseu Costing In order to compare WoolCorp's current method with activity-based costing, you interview the production staff and compile the following information, which relates to the costs for raw wool and wool yarn. Type of Cost Activity Base Total Cost Sorting Hours of sorting $25,600 Cleaning Units of cleaning machine power 38,400 Combing Hours of combing machine use 1,400 Raw Wool Wool Yarn Hours of sorting required 800 3,200 Units of cleaning machine power required 1,920 4,480 Hours of combing machine use required 70 30 In the following table, compute and enter the activity rate for each of the three activities. If required, round your answers to the nearest cent. Activity Activity Rate Sorting 40 X per sorting hour Cleaning per unit of cleaning machine power Combing per hour of combing machine use In the following table, allocate the costs of sorting, cleaning, and combing based on the rates of activity consumed by each product's process. When required, round your answers to the nearest dollar. Check My Work 6 more Check My Work uses remaning. 9:27 PM 4/17/2020 F6 F8 F9 F10 F11 F12 Home End Insert