please Answer, its Urgent. Alloy Plc manufactures 3 products in two production departments, Machine shop...
50.1K
Verified Solution
Question
Accounting
please Answer, its Urgent.
Alloy Plc manufactures 3 products in two production departments, Machine shop and Fitting section. It also has two service departments, a Canteen and a Machine maintenance section. Below are production and manufacturing data for the 3 products:
| Product X | Product Y | Product Z |
Production | 4,200 units | 6,900units | 1,700 units |
Direct materials (N per unit) | 11 | 14 | 17 |
Labour: |
|
|
|
Machine shop ((N per unit) | 12 | 4 | 2 |
Fitting section (N per unit) | 12 | 3 | 21 |
Machine hours per unit (Hours per unit) | 6 | 3 | 4 |
Overheads | Machine shop | Fitting | Canteen | Maintenance |
Book value of equipment | N150,000 | N75,000 | N30,000 | N45,000 |
No. of employees | 18 | 14 | 4 | 4 |
Floor space (m2) | 3,600 | 1,400 | 1,000 | 800 |
Allocated overheads | N27,660 | N19,470 | N16,600 | N26,650 |
Other overheads include:
Rent and rates N10,000 Heat and light N7,000
Insurance of Equipment N5,000 Depreciation N20,000
Canteen overhead expenses are apportioned to all the other units in the ratio of the number of employees while Maintenance section overheads are apportioned 70% and 30% to Machine shop and Fitting section respectively. Required:
- Prepare a statement showing the apportionment of overheads
- Calculate the overhead absorption rates to products for total Machine shop overheads and Fitting section overhead using number of units produced
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.