Major Instrument, Inc. manufactures two products: missile range instruments and space pressure gauges. During April,...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Major Instrument, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, 47 range instruments and 303 pressure gauges were produced, and overhead costs of $88,004 were estimated. An analysis of estimated overhead costs reveals the following activities. Activity /Cost Driver /Total Cost 1. Materials handling/ Number of requisitions /$35,420 2. Machine setups/ Number of setups/ 30,267 3. Quality inspections/ Number of inspections /22,317 Total=$88,004 The cost driver volume for each product was as follows. Cost Driver/ Instruments /Gauges/ Total Number of requisitions/ 396/ 616/ 1,012 Number of setups/ 202/ 311/ 513 Number of inspections/ 271/ 248 /519 Determine the overhead rate for each activity. Materials handling_____ $ Machine setup______ $ Quality inspections_____ $ Assign the manufacturing overhead costs for April to the two products using activity-based costing. (Round answers to 0 decimal places, e.g. 250.) Instruments per unit____ $ Gauges per unit _____$
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
