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The Tavarez Company uses standard costing in its manufacturing plant for auto parts. The standard cost...
The Lopez Company uses standard costing in its manufacturing plant for auto parts. The standard cost of a particular auto part, based on a denominator level of 4,000 output units per year, included 6 machine-hours of variable manufacturing overhead at $8 per hour and 6 machine-hours of fixed manufacturing overhead at $15 per hour. Actual output produced was 4,400 units. Variable manufacturing overhead incurred was $245,000. Fixed manufacturing overhead incurred was $373,000. Actual machine-hours were 28,400. 1. Prepare an analysis...
The Taravez Company uses standard costing in its manufacturing plant for auto parts. The standard cost of a particular auto part, based on a denominator level of 3,900 output units per year, included 5 machine-hours of variable manufacturing overhead at $7 per hour and 5 machine-hours of fixed manufacturing overhead at $16 per hour. Actual output produced was 4,300 units. Variable manufacturing overhead incurred was $260,000. Fixed manufacturing overhead incurred was $265,000. Actual machine-hours were 30,000. Requirements 1. Prepare an...
The Ramirez Company uses standard costing in its manufacturing plant for auto parts. The standard cost of a particular aut part, based on a denominator level of 4.100 output units per year, included 6 machine-hours of variable manufacturing overhead at $8 per hour and 6 machine-hours of fixed manufacturing overhead at $15 per hour. Actual output produced was 4,500 units. Variable manufacturing overhead incurred was $260,000. Fixed manufacturing overhead incurred was $385,000 Actual machine-hours were 28,500. Read the requirements Journal...
The MartinezMartinez Company uses standard costing in its manufacturing plant for auto parts. The standard cost of a particular auto part, based on a denominator level of 4,500 output units per year, included 5 machine-hours of variable manufacturing overhead at $7 per hour and 5 machine-hours of fixed manufacturing overhead at $15 per hour. Actual output produced was 4,800 units. Variable manufacturing overhead incurred was $ 240,000. Fixed manufacturing overhead incurred was $ 385,000. Actual machine-hours were 29,000. Variable OH...
Prepare an analysis of all variable manufacturing overhead and fixed manufacturing overhead variances, using the 4-variance analysis. 2. Prepare journal entries using the 4-variance analysis. 3. Describe how individual fixed manufacturing overhead items are controlled from day to day. 4. Discuss possible causes of the fixed manufacturing overhead variances. The MartinezMartinez Company uses standard costing in its manufacturing plant for auto parts. The standard cost of a particular auto part, based on a denominator level of 4,500 output units per...
The Indonesia division of a Canadian telecommunications company uses standard costing for its machine-paced production of telephone equipment. Data regarding production during June are as follows: Variable manufacturing overhead costs incurred Variable manufacturing overhead cost rate Fixed manufacturing overhead costs incurred Fixed manufacturing overhead costs budgeted Denominator level in machine-hours Standard machine-hour allowed per unit of output Units of output Actual machine-hours used Ending work-in-process inventory $536,740 $7 per standard machine-hour $145,900 $137,000 68,500 1.2 64,500 75,600 0 Requirement 1....
The Yemen division of a Canadian telecommunications company uses standard costing for its machine-paced production of telephone equipment. Data regarding production during June are as follows: (Click the icon to view data.) Read the requirements Requirement 1. Prepare an analysis of all manufacturing overhead variances. Use the variance analysis framework Begin by calculating the following amounts for the variable overhead Actual Input Actual Costs X Flexible Allocated Incurred Budgeted Rate Budget Overhead Variable OH Variable manufacturing overhead costs incurred Variable...
Fresh, Inc., is a manufacturer of vacuums and uses standard costing, Manufacturing overhead (both variable and fixed) is allocated to products on the basis of budgeted machine-hours. In 2017, budgeted fixed manufacturing overhead cost was $18,000,000. Budgeted variable manufacturing overhead was $10 per machine-hour. The denominator level was 1,000,000 machine-hours. Read the requirements Requirement 1. Prepare a graph for fixed manufacturing overhead. The graph should display how Fresh, Inc.'s fixed manufacturing overhead costs will be depicted for the purposes of...
*can someone please explain/show me the process of this problem? Thanks in advance! Mary Corporation uses standard costing in its manufacturing of tractor parts. The standard cost of a particular part, based on the denominator level of 4,500 output units per year, included 7 machine hours of variable manufacturing overhead at $6.00 per hour, and 7 machine hours of fixed manufacturing overhead at $10.00 per hour. Actual output produced was 4,310 units. Variable manufacturing overhead incurred was $190,000. Fixed manufacturing...
Overhead Application, Overhead Variances, Journal Entries Plimpton Company produces countertop ovens. Plimpton uses a standard costing system. The standard costing system relies on direct labor hours to assign overhead costs to production. The direct labor standard indicates that two direct labor hours should be used for every oven produced. The normal production volume is 100,000 units. The budgeted overhead for the coming year is as follows: Fixed overhead $770,000 Variable overhead 446,000* *At normal volume. Plimpton applies overhead on the...