ACCT 212 CHAPTER 3 MANAGERIAL PRINCIPLES WILD &SHAW (2024) ALL VERIFIED ANSWERS ALREADY GRADED A+

A company has the following activities and costs: machine setup of $5,000 per setup and factory services of $100 per square foot. If product 1 uses 2 setups and has 10,000 square feet, overhead allocated to product 1 is $ - ANS-1010000 A company uses the departmental overhead rate method. Total overhead costs are $5,000,000. Of this total, the machining department is assigned overhead costs of $4,000,000 and the assembly department is allocated the remainder. The machining department uses machine hours as their allocation base and has 80,000 machine hours. The assembly department uses direct labor hours as their allocation base and has 50,000 direct labor hours. Calculate the overhead rate for the machining department. - ANS-$4,000,000/80,000 = $50 A company uses the departmental overhead rate method. Total overhead costs are $6,000,000. Of this total, the machining department is assigned overhead costs of $4,000,000 and the assembly department is allocated the remainder. The machining department uses machine hours as their allocation base and has 80,000 machine hours. The assembly department uses direct labor hours as their allocation base and has 50,000 direct labor hours. Calculate the overhead rate for the assembly department. - ANS-$40 per direct labor hour A report which focuses on individual customers and shows total profit margin generated by specific customers is known as a ______ profitability report - ANS-customer A report which focuses on providing gross profit margin per customer, is referred to as a - ANScustomer profitability report ABC can be used by service providers who usually classify costs by - ANS-activity level