Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > HR Management Posted 17 Oct 2017 My Price 9.00

Doaktown Products

Doaktown Products manufactures fishing equipment for recreational uses. The Miramichi plant produces the companyA????1s two versions of a special reel used for river fishing. The two models are the M-008, a basic reel, and the M-123, a new and improved version. Cost accountants at company headquarters have prepared costs for the two reels for the most recent period. The plant manager is concerned. The cost report does not coincide with her intuition about the relative costs of the two models. She has asked you to review the cost accounting and help her prepare a response to headquarters.

     Manufacturing overhead is currently assigned to products based on their direct labor costs. For the most recent month, manufacturing overhead was $307,200. During that time, the company produced 12,700 units of the M-008 and 2,600 units of the M-123. The direct costs of production were as follows:
  M-008 M-123 Total    
  Direct materials $ 101,600 $ 104,000 $ 205,600
  Direct labor   101,600   52,000   153,600
 

     Management determined that overhead costs are caused by three cost drivers. These drivers and their costs for last year were as follows:
     

Activity Level

    
  Cost Driver   Costs   M-008   M-123   Total  
  Number of machine-hours $ 134,200   4,700   3,000   7,700  
  Number of production runs   76,000   10   15   25  
  Number of inspections   97,000   15   50   65  
                   
     Total overhead $ 307,200              
                   
 
Requirement 1:
(a)

How much overhead will be assigned to each product if these three cost drivers are used to allocate overhead? (The total of overhead allocated to each department may not be equal to total of overhead assigned to jobs. The minor difference is due to rounding.) (Round your intermediate calculations to two decimal places. Round your answers to the nearest whole dollar amount. Omit the "$" sign in your response.)
     M-008    M-123
  Total overhead $    $   
 
(b)

What is the total cost per unit produced for each product? (Round your intermediate calculations to two decimal places. Round your answers to 2 decimal places. Omit the "$" sign in your response.)
     M-008    M-123
  Total unit cost $    $   
 
Requirement 2:
(a)

How much of the overhead will be assigned to each product if direct labor cost is used to allocate overhead? (Do not round your intermediate calculations. Omit the "$" sign in your response.)
     M-008    M-123
  Total overhead $    $   
 
(b)

What is the total cost per unit produced for each product? (Do not round your intermediate calculations. Round your answers to 2 decimal places. Omit the "$" sign in your response.)
     M-008    M-123
  Total unit cost $    $   

 

Answers

Maurice Tutor
(5)
Status NEW Posted 17 Oct 2017 01:10 PM My Price 9.00

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