X Inc has used traditional costing where OH cost is applied based on 15% of Direct Labor cost. DL cost for the period is P 30,000 and direct materials used is 10,000. The company considered using ABC and determined the following:<Refer to image>The total product cost assigned to Product G using ABC is? Activity1Cost rate2 per set upCost DriverNo of set upsNo of unitsproducedNo of ordersFor Product G10 set ups3 per unit3 per order1,000 units20 orders2

Calculation of Total Cost assigned to Product G Product G Total Cost Direct Materials…

X Inc has used traditional costing where OH cost is applied based on 15% of Direct Labor cost. DL cost for the period is P 30,000 and direct materials used is 10,000. The company considered using ABC and determined the following:

X Inc has used traditional costing where OH cost is applied based on 15% of Direct Labor cost. DL cost for the period is P 30,000 and direct materials used is 10,000. The company considered using ABC and determined the following:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

The total product cost assigned to Product G using ABC is?

Activity
1
Cost rate
2 per set up
Cost Driver
No of set ups
No of units
produced
No of orders
For Product G
10 set ups
3 per unit
3 per order
1,000 units
20 orders
2

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