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Question - Outdoor Fun manufactures two products: Monkey Bars and Ride Away.
The company's overhead costs consist of setting up machines, $24,000; machining, $36,000; and inspecting, $18,000. During the year, 5,000 Monkey Bars were produced and 20,000 Ride Aways. Additional information on the two products is:
Monkey Bars
Ride Away
Direct labor hours
8,000
12,000
Machine setups
20
40
Machine hours
2,000
6,000
Inspections
30
Required -
1. How much overhead will be applied to Monkey Bars using traditional costing using direct labor hours as the basis for allocation?
2. How much overhead was applied to Monkey Bars using activity-based costing?
Rundle would like to use those estimates as its target prices and have a profit margin of 30 percent of target prices. What is the target cost for each product?
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