ACC 561 Week 4 WileyPLUS Assignment
amyjhon2013ACC 561 Week 4 WileyPLUS Assignment
Exercise 15-5
Duggan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $325,780 for the year, and machine usage is estimated at 125,300 hours.
For the year, $346,819 of overhead costs are incurred and 131,400 hours are used.
Exercise 16-3
The ledger of Custer Company has the following work in process account.
Work in Process—Painting
5/1 Balance 4,310
5/31 Transferred out ?
5/31 Materials 5,980
5/31 Labor 4,100
5/31 Overhead 1,600
5/31 Balance ?
Production records show that there were 470 units in the beginning inventory, 30% complete, 1,560 units started, and 1,440 units transferred out. The beginning work in process had materials cost of $2,610 and conversion costs of $1,700. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.
Exercise 17-1
Wilkins Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of activity-based costing and wants to see how the results would differ if this system were used. Two activity cost pools were developed: machining and machine setup. Presented below is information related to the company’s operations.
Standard Custom
Direct labor costs $54,900 $111,000
Machine hours 1,360 1,160
Setup hours 97 4200
Total estimated overhead costs are $301,200. Overhead cost allocated to the machining activity cost pool is $196,000, and $105,200 is allocated to the machine setup activity cost pool.
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