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Not Secure v2.ce ngagenow.com Irn/takeAssignment/takeAssignment Main.do?invoker= assignments&takeAssignmentSessionLocator;=assignment-take∈ progress-false Chapter 18 Assignment Show Me HowCaloulator Book Product Costs and Product Profitability Reports, using a Single Plantwide Factory Overhead Rate Elliott Engines Inc. produces three products-pistons, valves, and cams-for the heavy equipment industry. Elliott Engines has a very simple production process and product line and uses a single plantwide factory overhead rate to allocate overhead to the three products. The factory overhead rate is based on direct labor hours. Information about the three products for 20Y2 is as follows Budgeted Volume (Units) Direct LaborPrice Per Hours Per Unit Direct Materials Per Unit Unit 6,000 22,000 2,000 0.20 0.15 0.30 Pistons Valves Cams The estimated direct labor rate is $24 per direct labor hour. Beginning and ending inventories are negligible and are, thus, assumed to be zero. The budgeted factory overhead for Elliot Engines is $188,700 If required, round all per unit answers to the nearest cent. a. Determine the plantwide factory overhead rate $42 $20 56 per dih b. Determine the factory overhead and direct labor cost per unit for each product. Factory Overhead Cost Per Unit Direct Labor Direct Labor Hours Per Unit dih dih dih Cost Per Unit Pistons Valves Cams Check My Work Previous Next Assignment Score: 24.8% All work saved. Email Instructor Save and Exit Submit Assignment for Grading

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Volume DLH PU DLH Total DM Cost PU Price Per Unit Pistons 6000 0.20 1200 20.00 42.00 Valves 22000 0.15 3300 3.00 11.00 Cams 2000 0.30 600 24.00 56.00 5100 A Budgeted OH 188700 Total DLH 5100 Plantwide FOH Rate 37.00 Per DLH B DLH PU FOH Cost PU DL Cost PU Pistons 0.20 7.40 4.80 (DLH*24 PH) Valves 0.15 5.55 3.60 (DLH*24 PH) Cams 0.30 11.10 7.20 (DLH*24 PH) C Elliot Engines Inc. Product Line Budgeted GP Reports For the year ended Dec 31, 20Y2 Particulars Pistons Valves Cams Revenue 252000 242000 112000 (Units * Price PU) Product Costs: Direct Material 120000 66000 48000 (Units * DM Cost PU) Direct Labor 28800 79200 14400 (Units * DL Cost PU) Factory OH 44400 122100 22200 (Total DLH*37) Total Product Cost 193200 267300 84600 Gross Profit 58800 -25300 27400 (Revenue- Total Cost) Gross Profit Percentage to Sales 23.33% -10.45% 24.46% (GP/Sales*100)

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