Greife Corporation's Activity-Based Costing System Has Three Activity Cost Pools--Machining

question 380

Essay

Greife Corporation's activity-based costing system has three activity cost pools--Machining, Setting Up, and Other. The company's overhead costs have already been allocated to these cost pools as follows:
Costs in the Machining cost pool are assigned to products based on machine-hours (MHs) and costs in the Setting Up cost pool are assigned to products based on the number of batches. Costs in the Other cost pool are not assigned to products. The following table shows the machine-hours and number of batches associated with each of the company's two products:
Additional data concerning the company's products appears below:
Required:a. Calculate activity rates for each activity cost pool using activity-based costing. (Round your answers to 2 decimal places.) b. Determine the amount of overhead cost that would be assigned to each product using activity-based costing. (Round intermediate calculations to 2 decimal places.) c. Determine the product margins for each product using activity-based costing. (Round intermediate calculations to 2 decimal places.)

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Definitions:

Symbolic Interactionist

A perspective in sociology that focuses on the meanings individuals assign to objects, events, and behaviors, and how these meanings shape social interactions and identities.

Anti-social Behaviours

Actions that harm or lack consideration for the well-being of others and disrupt the social order.

Emotionally Driven Goal

A goal or objective that is pursued primarily due to one's feelings or emotions rather than logical or practical reasons.

Casual Crowd

A chance collection of individuals in the same location at the same time.