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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 551 times
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answer

body preview (3 words)

xxxx you xxxxx

file1.xlsx preview (44 words)

Sheet1

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Manufacturing xxxxxxxxxStoresxxxxxxx
360000 320000 xxxxxxxxxxx
xxxx xxxxxxxxx xxxx3500
Depreciation 540003600xxx 1800
Management Timexxxxx384006000xxxxx
xxxxx486600xxxxxx 129100 53300
xxxxxxxxxx xx Stores to other Deptt xxxxx6455xxxxxxx25820
Total After xxxxxxxxxx of xxxxxxxxxxxxxxxxxxx xxxxx
xxxxxxxxxx xx xxxxxxx xx other Deptt46153 xxxxxx xxxxxx
xxxxx After xxxxxxxxxx xx xxxxxxxxxxxxx406422 xx
xxxxxxx xxxxxxxxx0 x 0
xxxxxx Labour xxxxx xxxxxx x
xxxxxxxx Absorption xxxx xxxx15.0xxx0.0

Sheet2

xxxxxx


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