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The annual budgeted production overheads for a factory with two production departments (Machine Shop A and Machine Shop B) and one service department (Stores) are as follows:
Indirect wages and supervision Machine Shop A
£
150,000
Machine Shop B
100,000
Stores
30,000
Indirect materials
280,000
Machine Shop A
50,000
10,000
160,000
Rent
60,000
Light and heat
Insurance for machinery
20,000
550,000
The following information is also available:
Area occupied (sq m)
Book value of machinery (£)
Issues of direct and indirect
Machine Shop A 20,000
Machine Shop B 5,000
5,000
material from stores (£)
Budgeted machine hours
350,000 200,000
Machine Shop A 36,000 machine hours Machine Shop B 9,500 machine hours
You are required to:
(a) Determine the budgeted overhead absorption rate for Machine Shop A.
(b) Determine the budgeted overhead absorption rate for Machine Shop B.
(c) Calculate the production overheads which would be charged to Product X if the product spent 6 hours in Machine Shop A and 3 hours in Machine Shop B.
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