ACC 561 Week 4 WileyPLUS Assignment

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ACC 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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