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Problem:
The accountant for Scenic Photographic Supply Company has established the following overhead cost pools and activity drivers.
Overhead Cost Pool
Budgeted Overhead Cost
Activity Driver
Machine set-ups
$100,000
Number of setups
Material handling
$50,000
Weight of raw material
Hazardous waste control
$25,000
Weight of hazardous chemicals used
Quality control inspection
$37,500
Number of inspections
Other overhead costs
Machine hours
Total
$312,500
Budgeted Level for Activity Driver
Overhead Rate
100
$1,000 per setup
50,000 kilos
$1 per kilo
10,000 kilos
$2.50 per kilo
1,000
$37.50 per inspection
20,000
$5 per machine hour
An order for 1,000 boxes of film development chemicals has the following production requirements:
4 Set-ups
Raw material
l0,000 kilos
Hazardous materials
2,000 kilos
Inspections
10 inspections
500 machine hours
Required
A. Calculate the total overhead that should be assigned to the development chemical order.
B. What is the overhead cost per box of chemicals?
C. Suppose Scenic Photographic Supply Company was to use a single, predetermined overhead rate based on machine hours. Calculate the rate per hour.
D. Using the single plantwide overhead rate based on machine hours, what will be the total overhead assigned and the overhead cost per box of chemicals
Additional Information:
This question is basically belongs to Finance and it discusses about computing total overhead to be assigned, the overhead cost, overhead rate based on machine hours and rate per hour.
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