IceeBee61 Manufacturers uses activity based costing model to compute product costs. During the coming year the company expects to produce 25000 units of Reg model and 6500 units of Super Model. Data on these products is as follows: Cost Center Cost Driver Level of activity Estimated overheads (K) Reg Super Total   Labour Direct labour hours 8000 2000 10000 80000 Machine setup Number of set ups 500 900 1400 420000 Product testing Number of tests 6400 1600 8000 600000 General factory Machine hours 30000 15000 45000 90000 Total         1190000   In a tabular format, calculate the Overhead absorption rates for each cost center                                                                                               In a tabular format, calculate the total overhead cost assigned to each product                                                                                                    Calculate the overhead cost to be included in the cost of each unit.

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.