Orange County Engine Parts Inc.
Product Costs and Product Profitability Reports, using a Single Plantwide Factory Overhead Rate
Orange County Engine Parts Inc. (OCEP) produces three productsAc€??pistons, valves, and camsAc€??for the heavy equipment industry. OCEP has a very simple production process and product line and uses a single plantwide factory overhead rate to allocate overhead to the three products. The factory overhead rate is based on direct labor hours. Information about the three products for 2014 is as follows:
The estimated direct labor rate is $20 per direct labor hour. Beginning and ending inventories are negligible and are, thus, assumed to be zero. The budgeted factory overhead for OCEP is $184,320.
If required, round all per unit answers to the nearest cent.
a. Determine the plantwide factory overhead rate.
$ per dlh
b. Determine the factory overhead and direct labor cost per unit for each product.
| Â |
Direct Labor
Hours Per Unit |
Factory Overhead
Cost Per Unit |
Direct Labor
Cost Per Unit |
| Pistons |
 |
$ |
$ |
| Valves |
 |
$ |
$ |
| Cams |
 |
$ |
$
|
c. Use the information above to construct a budgeted gross profit report by product line for the year ended December 31, 2014. Include the gross profit as a percent of sales in the last line of your report, rounded to one decimal place. Enter all amounts as positive numbers, except for a negative gross profit/gross profit percentage of sales.
|
Orange County Engine Parts Inc.
|
|
|
Product Line Budgeted Gross Profit Reports
|
|
|
For the Year Ended December 31, 2014
|
|
| Â |
 |
|
 |
|
 |
|
|
|
 |
|
 |
|
 |
|
|
|
 |
|
 |
|
 |
|
|
|
 |
|
 |
|
 |
|
|
|
 |
|
 |
|
 |
|
| Â |
 |
|
 |
|
 |
|
|
|
 |
|
 |
|
 |
|
|
Gross profit percentage of sales
|
|
 |
|
 |
|
 |
|
Â
Answers
Status NEW
Posted 17 Aug 2017 09:08 PM
My Price 13.00
Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll
Not Rated(0)