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The controller for Wolfe Machining has established the following overhead cost pools and cost drivers:...

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Accounting

The controller for Wolfe Machining has established the following overhead cost pools and cost drivers:

Overhead cost Pool Budgeted overhead cost cost driver
Machine setups $240,000 number of setups
Material Handling 90,000 Units of raw material
Quality control inspection 48,000 Number of inspection
Other overhead costs 160,000 machine hours
total $538,000

Over Head cost pool Budgeted Level for Cost driver Pool Rate
Machine setups 200 setups $1,200 per setup
Material Handling 60,000 units $1.50 per unit
Quality Control 1,200 inspections $40 per inspection
Other overhead 20,000 machine hours $ 8 per machine hour

Order no. 715 has the following production requirements: Machine setups: 5 Raw material: 10,700 units Inspections: 19 Machine hours: 790 a.[10 points] Compute the total overhead that should be assigned to order no. 715 by using activity-based costing.

b. [10 points] Suppose that Wolfe were to use a single, predetermined overhead rate based on machine hours. Compute the rate per hour and the total overhead assigned to order no. 715. .

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