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Wexford plc manufactures highquality wooden toys. Production variesfrom long runs of popular models to short runs of specifically produced expensive toys. The factory is divided into five cost centres for analysis purposes:
Production: Cutting, Assembly, Finishing
Service: Design, Stores.
The company's system for dealing with budgeted factory overheads is as follows:
(i) Where possible budgeted overheads are allocated to the five cost centres above. Any costs which cannot be directly allocated to cost centres are allocated to an overall Factory costcentre and apportioned to the five cost centres according to floor area;
(ii) Budgeted stores overheads are apportioned to the other four cost centres according to the value of materials requisitions;
(iii) Budgeted design overheads are apportioned to the production cost centres in equal proportions;
(iv) Production overheads are charged to production runs on the basis of machine hours in each of the three production cost centres.
Budgeted data for the year ending 31 December 20x2.
Allocated Costs
Cutting
Assembly
Finishing
Design
Stores
Indirect Labour (£)
72,400
83,900
108,600
126,100
18,500
Indirect Materials (£)
1,850
780
12,640
4,650
600
Machine Costs (£)
64,000
56,400
48,900
63,400
2,900
Other Data
Floor Area m2
770
1,080
480
360
Material Requisitions (£)
97,760
109,400
45,000
4,640
-
Material Requisitions (No.)
800
750
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