Reference no: EM132515339
Glass Mountain Vases is reviewing two vase product lines, Tall & Short. For these two products they allocate the costs using one single overhead rate based on estimated machine hours.
GMV doesn't believe the tall & short vases are being costed accurately and therefore decides to investigate switching to an Activity Based Costing System. The controller performs significant analysis and determines the following costs activities and cost drivers:
Activity Activity Driver Estimated activity cost Volume of activity measure
Purchasing Quantity bought 225,000 100,000kg
Machine set up Number of set ups 450,000 200 set ups
Oven firing Oven hours 600,000 25,000 hrs
The following data is used for GMV for November
Short Tall
Purchasing materials 2000kg 4000kg
Machine set ups 22 set ups 5 set ups
Oven firings 1000hrs 1000hrs
Question 1: Calculate the budgeted indirect cost rate for the three cost pools
Question 2: Calculate the manufacturing overhead cost for each product
Question 3: Assuming the following additional costs, what is the total cost of the two products
Short Tall
Direct Materials $50 $65
Direct Labour $75 $33
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