accounting question!!!!!!!!!!1
Question 3Lewitt PLC has asked for your help in designing their new costing system. You haveascertained 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 £120,000Finishing £320,000 Canteen £30,000Costs to be apportioned:Rent on basis of floor area £26,000Machine depreciation on basis of original cost of machinery £60,000Management time on basis of time spent in each dept. £120,000Floor Area Machinery ManagementSq mtrs Original cost TimeManufacturing 300 £450,000 48%Finishing 100 £30,000 32%Stores 50 £5,000 5%Canteen 70 £15,000 15%Stores Number ofRequisitions EmployeesManufacturing 150 35Finishing 10 25Stores N/A N/ACanteen 40 N/ABudgeted machine hours in manufacturing department is 25,183Budgeted direct labour hours in finishing department is 27,095Required:Calculate the overhead absorption rate for the manufacturing and finishing departments.
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