Question 2 Sea Bhd manufactures three types of scuba diving…

Question 2
Sea Bhd manufactures three types of scuba diving equipment known as Coral, Wave and Reef. Each product is started in the Machining Department and completed in the Finishing Department. It also has a service department, Canteen.

Shown below are next year’s budgeting production data and manufacturing costs for the company.

Budgered overhead   Total   Machining Dept   Finishing Dept   Canteen
Allocated overheads   RM67500    RM30000    RM25000    RM12500
Depreciation of equipment   18,000
Insurance on equipment   10,000
Rent & rates   9,000
Electricity   12,000
Additional information:

Total   Machining Dept   Finishing Dept   Canteen
Book value of equipment   RM180,000    RM120,000    RM45000    RM15000
Floor space occupied   7,800    3,600    2,400    1,800
No. of employees   19    8    6    5
Machine hours   36,900    36,900    –    –
Direct labour costs   RM1,110,000    RM694,000    RM416,000    –
Additional information made available includes:

Coral           wave           Reef
Production – units           2500           1800           1000

Prime cost, per unit:
Direct material (RM)           200           240           320
Direct labour:
Machining Dept(RM)       100           130           210
Finishing Dept(RM)           80           70           90

Machine hour(per unit)       5           8           10
In the Machining Dept

You are required to:

c)   Complete the overhead analysis sheet
d)   Calculate the following budgeted overhead absorption rates:
a.   machine hour rate for the Machining Dept
b.   a rate expressed as a percentage of direct wages for the Finishing Dept
e)   Calculate the production cost/manufacturing cost of one unit of Coral, using the absorption rates as calculated in part II above.

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