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Author Question: Millenium Ideas Ltd. manufactures odd size sporting equipment sold over the internet. Two items, ... (Read 56 times)

mrsjacobs44

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on: Jan 4, 2020
Millenium Ideas Ltd. manufactures odd size sporting equipment sold over the internet. Two items, Dive Masks and Fins are manufactured on a common assembly line. Although different direct materials are used, the direct labour cost is the same for each product line.
The plant-wide rate for allocating manufacturing overhead to its products is no longer acceptable. The production manager has heard about activity-based costing and has assembled some information for use in changing the cost system to a cost driver concept.
With the help of the accounting department, the manager has been able to establish the following relationships between production costs and some of the indirect manufacturing activities for August, along with the production data for the two product lines:

Activity   Cost Driver Allocation Rate Dive Masks Fins
Material handling Number of parts $1.00 per part 2,0001,300
MachiningMachine hours $15.00 per hour205300
AssemblyUnits began$1.60 per unit1,0001,300
InspectionNumber tested $2.00 per unit1001,200

Direct costs:
Dive MasksFins
Labour$12,000 $12,000
Materials$5,200 $2,600

Required:
Using activity-based costing determine the total production cost of each of the two product lines for August and the cost per unit assuming all units started were completed.
Managerial Accounting, Canadian Edition ¦ Braun, Tietz, Pyper ¦ 2nd Edition
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Marked as best answer by mrsjacobs44 on Jan 4, 2020

janeli

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Reply #1 on: Jan 4, 2020
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mrsjacobs44

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Reply 2 on: Jan 4, 2020
:D TYSM

dyrone

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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