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Homework assignment from ag. Econ
Typology: Exercises
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Costs of subcontracted work $ Direct staff costs $13, Studio overhead $21, Total cost to January 31 $40,
Cutting Machining Assembly Estimated manufacturing overhead cost
$540,000 (a) $800,000 (c) $100,000 (e)
Estimated direct labor cost
$300,000 (b) $200,000 (d) $400,000 (f)
Predetermined overhead rate
180% (a)/(b) 400% (c)/(d) 24% (e)/(f)
Cutting Machining Assembly Total Applied overhead cost:
($320,000 x 80%)
($210,000 x 400%)
($340,000 x 25%) 1,501, Actual overhead cost $560,000^ $830,000^ $92,000^ $1,482, (Underapplied) / over applied overhead cost
EX300 TX500 Total Sales $1,200,000 $500,000 $1,700, Direct Materials 366,325 162,550 528, Direct Labor 120,000 42,500 162, Manufacturing overhead applied ($3. per direct labor dollar)
Total manufacturing cost 861,925^ 338,075^ 1,200, Product margin $338,075 $161,925 $500,
Disposal fees 420, ($600,000 x 70%)
($600,000 x 0%)
($600,000 x 30%)
($600,000 x 0%) 600,
Equipment depreciation
(80,000 x 50%)
(80,000 x 0%) 32,000^ 8,000^ 80, On-site supplies 33,000^ 9,000^ 12,000^ 6,000^ 60, Office expenses 19,000^ 76,000^ 57,000^ 38,000^ 190, Licensing and insurance 185,000^0 148,000^ 37,000^ 370, Total cost $777,000 $105,000 $499,000 $119,000 $1,500,
Activity Cost Pool (a) Total Cost^ (b) Total Activity^ (a) / (b) Activity Rate Removing Asbestos $777,
500 thousand sq. ft. $1,554 per thousand sq. ft. Estimating and job setup $105,
200 jobs $525 per job
Working on non routine jobs $499,
25 non routine jobs $19,960 per non routine job
Routine 2,000 sq. ft. Job: Removing asbestos ($,554 per thousand square feet x 2 thousand square feet) $3, Estimating and job setup ($525 per job x 1 job) 525 Nonroutine job (not applicable) $3, Acerage cost per thousand square feet ($3,633 / 2,000 sq. ft.) $1,816.
Routine 4,000 sq. ft. Job: Removing asbestos ($1,554 per thousand sq. ft. x 4,000 sq. ft.) $6, Estimating and job setup ($525 per job x 1 job) 525 Nonroutine job (not applicable) 0 Total cost of the job $6, Cost per thousand sq. ft. ($6,741 / 4,000 sq. ft.) $1,685.
Nonroutine 2,000 sq. ft. Job: Removing asbestos $3, Estimating and job setup 525 Non routine job 19, Total cost of the job $23, Cost per thousand square feet $11,796.