A10-5 Factory Overhead Rate Assignment Help

A10-5 Factory Overhead Rate Assignment Help

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Order ID	53563633773
Type	Essay
Writer Level	Masters
Style	APA
Sources/References	4
Perfect Number of Pages to Order	5-10 Pages

Description/Paper Instructions

A10-5 Factory Overhead Rate Assignment Help

A10-5 Factory overhead rate

Fabricator Inc., a specialized equipment manufacturer, uses a job order costing

system. The overhead is allocated to jobs on the basis of direct labor hours. The

overhead rate is now $3,000 per direct labor hour. The design engineer thinks

that this is illogical. The design engineer has stated the following:

Our accounting system doesn’t make any sense to me. It tells me that every labor

hour carries an additional burden of $3,000. This means that while direct labor

makes up only 5% of our total product cost, it drives all our costs. In addition,

these rates give my design engineers incentives to “design out” direct labor by

using machine technology. Yet, over the past years as we have had less and less

direct labor, the overhead rate keeps going up and up. I won’t be surprised if next

year the rate is $4,000 per direct labor hour. I’m also concerned because small

errors in our estimates of the direct labor content can have a large impact on our

estimated costs. Just a 30-minute error in our estimate of assembly time is worth

$1,500. Small mistakes in our direct labor time estimates really swing our bids

around. I think this puts us at a disadvantage when we are going after business.

What is the engineer’s concern about the overhead rate going “up and up”?

What did the engineer mean about the large overhead rate being a disadvantage when placing bids and seeking new business?

What do you think is a possible solution?

A10-6 Classifying costs

With a group of students, visit a local copy and graphics shop or a pizza restau-

rant. As you observe the operation, consider the costs associated with running

the business. As a group, identify as many costs as you can and classify them

according to the following table headings:

Cost Direct Materials Direct Labor Overhead Selling Expense

A10-7 Just-in-time principles

Warm Space Inc. manufactures electric space heaters. While the CEO, Gwen

Willis is visiting the production facility, the following conversation takes place

with the plant manager, Tyra Chastain:

Gwen: As I walk around the facility, I can’t help noticing all the materials in-

inventories. What’s going on?

Tyra: I have found our suppliers to be very unreliable in meeting their delivery

commitments. Thus, I keep a lot of materials on hand so as to not risk running

out and shutting down production.

Gwen: Not only do I see a lot of materials inventory, but there also seems to be

a lot of finished goods inventory on hand. Why is this?

Tyra: As you know, I am evaluated on maintaining a low cost per unit. The

one way that I am able to reduce my unit costs is by producing as many space

heaters as possible. This allows me to spread my fixed costs over a larger base.

When orders are down, the excess production builds up as inventory, as we are

seeing now. But don’t worry—I’m really keeping our unit costs down this way.

Gwen: I’m not so sure. It seems that this inventory must cost us something.

A10-5 Factory Overhead Rate Assignment Help

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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