Please do not give solution in image format thanku Required 1 Required 2Compute the activity rate for each activity cost pool.Activity RateActivity Cost PoolMachine setupsSpecial processingRequired 1 Required 2Determine the unit product cost of each product according to the ABC system. (Do not round intermediate calculations. Roundyour answers to 2 decimal places.)Direct materialsDirect laborOverheadUnit costHubsper setupper MHSprockets< Required 1Required 2 Fogerty Company makes two products-titanium Hubs and Sprockets. Data regarding the two products follow:DirectLabor-HoursperAnnualUnit Production0.70 14,000 units0.30 46,000 unitsHubsSprocketsAdditional information about the company follows:a. Hubs require $30 in direct materials per unit, and Sprockets require $11.b. The direct labor wage rate is $14 per hour.c. Hubs require special equipment and are more complex to manufacture than Sprockets.d. The ABC system has the following activity cost pools:Activity Cost Pool (Activity Measure)Machine setups (number of setups)Special processing (machine-hours)General factory (organization-sustaining)Estimated:OverheadCost$ 25,875$228,000$272,000ActivityHubs Sprockets Total1152073,8003,800NANARequired:1. Compute the activity rate for each activity cost pool.2. Determine the unit product cost of each product according to the ABC system.920NA

Activity based cost system is a type of costing method in which the costs are determined according…

Fogerty Company makes two products-titanium Hubs and Sprockets. Data regarding the two products follow: Direct Labor- Hours per Unit 0.70 14,000 units 0.30 46,000 units Hubs Sprockets Annual Production Additional information about the company follows: a. Hubs require $30 in direct materials per unit, and Sprockets require $11

Fogerty Company makes two products-titanium Hubs and Sprockets. Data regarding the two products follow: Direct Labor- Hours per Unit 0.70 14,000 units 0.30 46,000 units Hubs Sprockets Annual Production Additional information about the company follows: a. Hubs require $30 in direct materials per unit, and Sprockets require $11

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter10: Short-term Decision Making

Section: Chapter Questions

Problem 12EB: Power Corp. makes 2 products: blades for table saws and blades for handsaws. Each product passes...

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