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Question
Submitted by solil_ on Wed, 2012-05-16 18:14
due on Tue, 2012-05-15 18:11
answered 1 time(s)
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q3

Question 3

Lewitt PLC has asked for your help in designing their new costing system. You have

ascertained that they have two direct production departments: manufacturing and finishing,

and two production overhead departments: stores and canteen.

The allocated costs in the period are budgeted to be:

Manufacturing £360,000 Stores £120,000

Finishing £320,000 Canteen £30,000

Costs to be apportioned:

Rent on basis of floor area £26,000

Machine depreciation on basis of original cost of machinery £60,000

Management time on basis of time spent in each dept. £120,000

Floor Area Machinery Management

Sq mtrs Original cost Time

Manufacturing 300 £450,000 48%

Finishing 100 £30,000 32%

Stores 50 £5,000 5%

Canteen 70 £15,000 15%

Stores Number of

Requisitions Employees

Manufacturing 150 35

Finishing 10 25

Stores N/A N/A

Canteen 40 N/A

Budgeted machine hours in manufacturing department is 25,183

Budgeted direct labour hours in finishing department is 27,095

Required:

Calculate the overhead absorption rate for the manufacturing and finishing departments.

Answer
Submitted by neel on Thu, 2012-05-17 02:34
teacher rated 536 times
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answer

body preview (3 words)

xxxx xxx xxxxx

file1.xlsx preview (62 words)

xxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
ManufacturingFinishing xxxxxxCanteen
xxxxxx320000 xxxxxx30000
xxxx 150005000 2500xxxx
Depreciation54000 3600 xxx xxxx
Management Timexxxxx38400 6000xxxxx
xxxxxxxxxxx367000xxxxxxxxxxx
Allocation xx xxxxxx to xxxxx Deptt 96825xxxx-12910025820
xxxxx xxxxx Allocation xx Stores583425xxxxxxx xxxxx
Allocation Of Canteen to other Deptt 4615332967 0 -79120
Total After Allocation xx Canteenxxxxxx 406422x x
Machine xxxx25183x0x
Direct xxxxxx Hour 0 xxxxx 0x
xxxxxxxx Absorption rate xxxx 15.0 0.0xxx

xxxxxx

xxxxxx


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