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A company manufactures two products, X and Y. The following data is available:ProductDirect MaterialsDirect LaborOverhead...

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Accounting

A company manufactures two products, X and Y. The following data is available:

Product

Direct Materials

Direct Labor

Overhead (allocated)

X

$15,000

$10,000

$5,000

Y

$20,000

$12,000

$6,000

Requirements:

(a) Calculate the total cost for each product. (b) Determine the cost per unit if 1,000 units of X and 1,500 units of Y are produced. (c) Compute the overhead allocation rate. (d) Discuss the importance of accurate overhead allocation in cost accounting.

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