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Problem - Activity rates and product costs using activity-based costing
Contemporary Lighting Inc. manufactures entry and dining room lighting fixtures. Five activities are used in manufacturing the fixtures. These activities and their associated budgeted activity costs and activity bases are as follows:
Activity
Budgeted Activity Cost
Activity Base
Casting
$106,400
Machine hours
Assembly
52,800
Direct labor hours
Inspecting
17,080
Number of inspections
Setup
33,600
Number of setups
Materials handling
35,700
Number of loads
Corporate records were obtained to estimate the amount of activity to be used by the two products. The estimated activity-base usage quantities and units produced are provided in the table below.
Entry
Dining
Total
2,600
1,200
3,800
1,000
2,300
3,300
900
320
1,220
180
60
240
600
250
850
Units produced
7,500
3,000
10,500
Required -
a. Determine the activity rate for each activity.
b. Use the activity rates in (a) to determine the total and per-unit activity costs associated with each product.
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