Edwin Reyes&1 3/1818 4:39 PM ACC 2311/HE22 Cost Acct 1 (Spring 18) Homework: Ass

Question

Edwin Reyes&1 3/1818 4:39 PM ACC 2311/HE22 Cost Acct 1 (Spring 18) Homework: Assignment 6: Chpt 5 ABC Costing core: 0 of 30 pts E5-29 (book/static) Save 6 of 6 (0 complete) Hw Score: 0%, 0 of 100pts , Question Help The job-costing system at Melody's Custom Framing has five indrect cost pools (purchasing, material handing. machine maintenance, product inspection, and packaging). The company is in the process of bidding on two jobs, Job 220, an order of 17 intricate personalized frames, and Job 330, an order of 5 standard personalized frames The controler wants you to compare overhead allocated under the current simple job-costing system and a newly designed adver-based joboosing systern Total budgeled costs n oach nindost pool rd the budgetedquarety ofenny dir r·as ollows (Click the loon to view the cost and driver data)Click the icon to viow the job data ) Read the tequirements Requirement 1. Compute the total overhead allocated to each job under a simple costing system, where overhead is allocated based on machine-hours Begin by calculating the overhead rate under the simple costing system First select the formula, then enter the applicable amounts and caloulate the ahe. (Rlound your answer to the nearest cent Abbreviations used bgt. budgeted, mach machine, mat material, purch. purchase, oty quanity) Budgeted overhead rate Simple costing system Choose from any list or enter any number in the input Selids and then click Check Anewe Clear Al Check Anewer

Explanation / Answer

Overhead allocation using a simple job-costing system, where overhead is allocated based on machine hours: Overhead allocation rate = total cost in indirect cost pool / machine hours = 196200/10,000 machine-hours = $19.62 per mach-hour Job 220 Job 330 Overhead allocated 19.62 per machine-hour × 30 hours 19.62 per machine-hour × 70 hours 588.6 1373.4

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