50.1K

Verified Solution

Link Copied!

Required information [The following information applies to the questions displayed below.] Cary Company manufactures two models of industrial components - a Standard model and an Advanced Model. It has provided the following information with respect to these two products: we company considers all of its manufacturing overhead costs ($1,346.250) to be fixed and it uses plantwide manufacturing overhead cost allocation based on direct labor-hours. Click here to download the Excel template. which you will use to answer the questions that follow. Click here for a a brief tutorialon Charts in Excel. 3. Within tre tab titled "Activity Based Approach," go to the section called "Product Margin Analysis." Create formulas (within ceils B16 through C19) that calculate the amounts of overhead cost that should be allocated from each activity cost pool to each product. Also (in cells B21 through D2i), create the formulas that are needed to compute the product margins for each product and the company as a whole (-iint: assignments). a. What formulas correctly calculate the cost assignments from the Order Processing and Setups activities to the Advanced model? b. How much overhead cost is assigned from each of the four activities to the Standard and Advanced models? c. What is the product margin for the Standard model? The Advanced model? Ipen recovered workbooks? Your recent changes were saved. Do you want to continue working where you Create a formula that calculates the direct labor-hours in the denominator of the create a formula that calculates che plantwide overhead rate (cell F4). What forr What is the plantwide overhead rate? (Round your answer to 2 decimal places. Create the appropriate formulas (within cells B11 through D17) to comp models as well as the company as a whole. What formulas correctly calc manufacturing overhead for the Standard model? What are the gross margins for the Standard model (cell B17) and the A What percent of the total manufacturing overhead cost is allocated to the Advanced model? 2a. Go to the tab titled "Activity Based Approach." Within the Activity Rates section of this tab, cre rates in cells G5,G10,G15, and G20. 2b. What is the activity rate for each of the four activities? (Round your answers to 2 decimal plac What formulas correctly calculate the cost assignmer model? How much overhead cost is assigned from each of the four activitie What is the product margin for the Standard model? The Advar Complete this question by entering your answers in the tabs What percent of each of the four activities is allocated to the Standar Using Charts, create a 100% stacked bar chart that shows the percent of each activity's total cost that is allocat product. (Hint: This chart should refer to the percentages that you computed in cells B2 through C5.) Which of statements is true with respect to the chart? The Assemble and Pack cost allocation percentages match the overhead cost allocation percentages using the plantwide approach. The Machining cost allocation percentages match the overhead cost allocation percentages using the plantwide approach. The Order Processing cost allocation percentages match the overhead cost allocation percentages using the plantwide approach. The Setups cost allocation percentages match the overhead cost allocation percentages using the plantwide approach. How much overhead is allocated to the Standard and Advanced mod much overhead is allocated to the Standard and Advanced models us Based on your completed bar chart, which model is overcosted using the plan Required information [The following information applies to the questions displayed below.] Cary Company manufactures two models of industrial components - a Standard model and an Advanced Model. It has provided the following information with respect to these two products: we company considers all of its manufacturing overhead costs ($1,346.250) to be fixed and it uses plantwide manufacturing overhead cost allocation based on direct labor-hours. Click here to download the Excel template. which you will use to answer the questions that follow. Click here for a a brief tutorialon Charts in Excel. 3. Within tre tab titled "Activity Based Approach," go to the section called "Product Margin Analysis." Create formulas (within ceils B16 through C19) that calculate the amounts of overhead cost that should be allocated from each activity cost pool to each product. Also (in cells B21 through D2i), create the formulas that are needed to compute the product margins for each product and the company as a whole (-iint: assignments). a. What formulas correctly calculate the cost assignments from the Order Processing and Setups activities to the Advanced model? b. How much overhead cost is assigned from each of the four activities to the Standard and Advanced models? c. What is the product margin for the Standard model? The Advanced model? Ipen recovered workbooks? Your recent changes were saved. Do you want to continue working where you Create a formula that calculates the direct labor-hours in the denominator of the create a formula that calculates che plantwide overhead rate (cell F4). What forr What is the plantwide overhead rate? (Round your answer to 2 decimal places. Create the appropriate formulas (within cells B11 through D17) to comp models as well as the company as a whole. What formulas correctly calc manufacturing overhead for the Standard model? What are the gross margins for the Standard model (cell B17) and the A What percent of the total manufacturing overhead cost is allocated to the Advanced model? 2a. Go to the tab titled "Activity Based Approach." Within the Activity Rates section of this tab, cre rates in cells G5,G10,G15, and G20. 2b. What is the activity rate for each of the four activities? (Round your answers to 2 decimal plac What formulas correctly calculate the cost assignmer model? How much overhead cost is assigned from each of the four activitie What is the product margin for the Standard model? The Advar Complete this question by entering your answers in the tabs What percent of each of the four activities is allocated to the Standar Using Charts, create a 100% stacked bar chart that shows the percent of each activity's total cost that is allocat product. (Hint: This chart should refer to the percentages that you computed in cells B2 through C5.) Which of statements is true with respect to the chart? The Assemble and Pack cost allocation percentages match the overhead cost allocation percentages using the plantwide approach. The Machining cost allocation percentages match the overhead cost allocation percentages using the plantwide approach. The Order Processing cost allocation percentages match the overhead cost allocation percentages using the plantwide approach. The Setups cost allocation percentages match the overhead cost allocation percentages using the plantwide approach. How much overhead is allocated to the Standard and Advanced mod much overhead is allocated to the Standard and Advanced models us Based on your completed bar chart, which model is overcosted using the plan

Answer & Explanation Solved by verified expert

See Answer