Use data from excel sheets 1&2 to answer excel sheet 3. Show work. File Home Ins

Question

Use data from excel sheets 1&2 to answer excel sheet 3. Show work. File Home Insert r Page Layout Formulas Data G33 2 2018 Projected Production standards Units per P1 4 Direct labor hrs T1 5 Direct labor hrs T2 B Machine hrs 0.14 0 0.01 0 0.35 0.025 $60.00 $50.00 Lbs of Z1 8 Units of Z2 9 Feet of Z3 $2.50 $1.50 $0.60 6 11 P1manufactures 40,000 in 2018 12 P2 manufactures 80,000 in 2018 14 15 16 Basedon your answers provided in Part 1 determine the following amounts 17 needto satisfy production goals for 2018 18 19 The total number of T1labor hours required 5600 20 21 The total number of T2 labor hours required 28000 2400 440000 160000 23 The total number of machine hours required 24 25 The total number of lbs. of input Z1required 27 The total number of units of input 22 required 29 The total number of feet of input 23 required 560000 30 31 What is the budget for T1direct labor (dollars)? 32 $336.000.00 33 What is the budget for T2 direot labor (dollars)? $1400,000.00 $1.736,000.00 35 What is the totallabor budget (dollars)? 36 37 41

Explanation / Answer

Variable facilities overhead assigned to P1=Machine hours*Predetermined overhead rate Machine hours for p1=Units produced*Machine hours per unit=40000*0.01=400 hours Variable facilities overhead assigned to P1=400*55=$22000 Variable facilities overhead assigned to P2=Machine hours*Predetermined overhead rate Machine hours for p2=Units produced*Machine hours per unit=80000*0.025=2000 hours Variable facilities overhead assigned to P2=2000*55=$110000 Variable personnel overhead assigned to P1=Direct labor hours*Predetermined overhead rate Direct labor hours for p1=Units produced*Direct labor hours per unit=40000*0.14=5600 hours Variable personnel overhead assigned to P1=5600*22=$123200 Variable personnel overhead assigned to P2=Direct labor hours*Predetermined overhead rate Direct labor hours for p2=Units produced*Direct labor hours per unit=80000*0.35=28000 hours Variable personnel overhead assigned to P2=28000*22=$616000 Fixed facilities overhead is assigned on the basis of machine hours Machine hours for p1=400 hours Total machine hours=400+2000=2400 hours Fixed facilities overhead assigned to P1=550000*(400/2400)=91667 Fixed facilities overhead is assigned on the basis of machine hours Machine hours for p2=2000 hours Total machine hours=400+2000=2400 hours Fixed facilities overhead assigned to P2=550000*(2000/2400)=458333 Fixed personnel overhead is assigned on the basis of direct labor hours Direct labor hours for p1=5600 hours Total direct labor hours=5600+28000=33600 hours Fixed personnel overhead assigned to P1=750000*(5600/33600)=125000 Fixed personnel overhead is assigned on the basis of direct labor hours Direct labor hours for p2=28000 hours Total direct labor hours=5600+28000=33600 hours Fixed personnel overhead assigned to P2=750000*(28000/33600)=625000 Total amount of overhead assigned: P1 P2 Variable facilities overhead 22000 110000 Variable personel overhead 123200 616000 Fixed facilities overhead 91667 458333 Fixed personel overhead 125000 625000 Total overhead assigned 361867 1809333

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