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Category > Management Posted 22 Feb 2018 My Price 8.00

Mets Products

Two-Stage Allocation and Product Costing

 

Mets Products produces baseball caps and T-shirts. Most of the production is done by machine. Data on operations and costs for October follow:

 

 

Baseball Caps

T-Shirts

Total

Units produced

10,000

5,000

15,000

Machine-hours used

1,000

800

1,800

Direct labor-hours

200

120

320

Direct materials costs

$12,000

$8,000

$20,000

Direct labor costs

$ 4,000

$2,400

$ 6,400

Manufacturing overhead costs

    

$22,200

 

Management asks the firm’s cost accountant to compute product costs. The accountant first assigns overhead costs to two pools: overhead related to direct materials and overhead related to machine hours. The analysis of overhead accounts by the cost accountant follows:

 

Account

Amount

Related to:

Utilities

$4,000

Machine-hours

Supplies

2,800

Materials

Machine depreciation and maintenance .

8,800

Machine-hours

Purchasing and storing materials

3,200

Materials

Miscellaneous

3,400

Machine-hours

 

Required

 

a. Compute the predetermined overhead rates assuming that Mets Products uses machine-hours to allocate machine-related overhead costs and materials costs to allocate materials-related overhead costs.

 

b. Compute the total costs of production and the cost per unit for each of the two products for October.

 

 

 


Answers

Maurice Tutor
(5)
Status NEW Posted 22 Feb 2018 09:02 PM My Price 8.00

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