Homework Answers
Since there are more than 1 question so answering only Qstn 12.
| Predetermined variable OH rate/ Direct Labour hour = Budgeted Variable OH/ Total DL hours as per practical volume | ||||||
| = (4260000 - 994000)/ (3 DL hours per unit * 325000 units) | ||||||
| = (4260000 - 994000)/ (3 DL hours per unit * 325000 units) | ||||||
| = (4260000 - 994000)/ (3 DL hours per unit * 325000 units) | ||||||
| = (4260000-994000) / 975000 Direct labour hours | ||||||
| = (4260000-994000) / 975000 Direct labour hours | ||||||
| = $ 3.35 per direct labour hour | ||||||
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Kris Pty Ltd calculates its predetermined rates using practical volume, which is 325,000 units. The standard...
Kris Company calculates its predetermined rates using practical volume, which is 325,000 units. The standard cost...
Kris Company calculates its predetermined rates using practical volume, which is 325,000 units. The standard cost system allows 3 direct labor hours per unit produced. Overhead is applied using direct labor hours. The total budgeted overhead is $4,260,000, of which $994,000 is fixed overhead. The actual results for the year are as follows: Units produced: 318,000 Direct labor: 965,000 hours @ $12.00/hour Variable overhead: $3,302,000 Fixed overhead: $998,000 Calculate the variable overhead spending variance. a.$69,250 F b.$69,250 U c.$24,000 U...
Kris Company calculates its predetermined rates using practical volume, which is 325,000 units. The standard cost...
Kris Company calculates its predetermined rates using practical volume, which is 325,000 units. The standard cost system allows 3 director hours per unit produced. Overhead is applied using direct labor hours. The total budgeted overhead is 14.260.000, of which 5994.000 is fed overhead The actual results for the year are as follows: Units produced: Direct labor: Variable overhead: Foxed overhead: 318,000 965,000 hours $3,302,000 $998,000 $12.00/hour Round all overhead rates to two decimal places Calculate the variable overhead efficiency variance...
Urbana Company calculates its predetermined manufacturing overhead rates using normal capacity, which is 288,000 units. The...
Urbana Company calculates its predetermined manufacturing overhead rates using normal capacity, which is 288,000 units. The standard cost system allows 2 direct labor hours per unit produced. Manufacturing overhead is applied using direct labor hours. The total budgeted manufacturing overhead is $3,168,000, of which $864,000 is fixed manufacturing overhead. The actual results for the year are as follows. 5. The company's variable manufacturing overhead efficiency (quantity) variance is: $24,000 F. (b) $40,000 U. $40,000 F. $24,000 U. (a) URBANA COMPANY...
Concita Ltd. uses a standard cost system and sets predetermined overhead rates on the basis of...
Concita Ltd. uses a standard cost system and sets predetermined overhead rates on the basis of direct labour hours. The company's budget indicates the following data for the current year. Denominator activity Variable manufacturing overhead (10,000 direct labour hours @$3.42) Fixed manufacturing overhead cost Predetermined overhead rate ($104,200 10,000 direct labour hours) 5,000 units $34,200 $70,000 $10.42 The standard cost card for the company's only product is given below: Standard Quantity Standard price Standard cost or hours Per Unit or...
Use the following information to answer Questions 9 through 13. Urbana Company calculates its predetermined manufacturing...
Use the following information to answer Questions 9 through 13. Urbana Company calculates its predetermined manufacturing overhead rates using normal capacity, which is 288,000 units. The standard cost system allows 2 direct labor hours per unit produced. Manufacturing overhead is applied using direct labor hours. The total budgeted manufacturing overhead is $3,168,000, of which $864,000 is fixed manufacturing overhead. The actual results for the year are as follows. URBANA COMPANY ACTUAL RESULTS FOR PRODUCTION FOR CURRENT YEAR 280,000 Units produced...
answere 7 to 11 7) During June, Bradley Company produced 4,000 units of product. The standard...
answere 7 to 11
7) During June, Bradley Company produced 4,000 units of product. The standard cost card indicates the following labour standards per unit of output: 3.5 hours @ $6 per hour $21. During the month, the company worked 15.000 hours. The standard hours allowed for the month were a) 14,000 hours. b) 15,000 hours. c) 24,000 hours. d) 18,000 hours. 8) Refer to the data in question 17) above. What is the labour efficiency variance for June? a)...
MA Company uses a standard cost system in which manufacturing overhead costs are applied to units...
MA Company uses a standard cost system in which manufacturing overhead costs are applied to units of the company's single product on the basis of direct laborhours (DLHs). The cost information for the product is as follows: Standard Cost per unit of product: Direct Materials, 2 metres at $4 per metre ....................................... $ 8 Direct Labor, 2 DLHs at $10 per DLH .................................................. $20 Variable Manufacturing Overhead, 2 DLHs at $2 per DLH ............ $ 4 Fixed ManufacturingOverhead, 2 DLHs...
2. Different management levels in Echuca Pty Ltd require varying degrees of managerial accounting information. Because...
2. Different management levels in Echuca Pty Ltd require varying degrees of managerial accounting information. Because of the need to comply with the managers' requests, four different variances for manufacturing overhead are computed each month. The information for the September overhead expenditures is as follows: Budgeted output units Budgeted fixed manufacturing overhead Budgeted variable manufacturing overhead Budgeted direct manufacturing labour hours Fixed manufacturing costs incurred Direct manufacturing labour hours used Variable manufacturing costs incurred Actual units manufactured 6400 units $40...
MA Company uses a standard cost system in which manufacturing overhead costs are applied to units of the company's s...
MA Company uses a standard cost system in which manufacturing overhead costs are applied to units of the company's single product on the basis of direct laborhours (DLHs). The cost information for the product is as follows: Standard Cost per unit of product: Direct Materials, 2 metres at $4 per metre ....................................... $ 8 Direct Labor, 2 DLHs at $10 per DLH .................................................. $20 Variable Manufacturing Overhead, 2 DLHs at $2 per DLH ............ $ 4 Fixed ManufacturingOverhead, 2 DLHs...
Flandro Company uses a standard cost system and sets its predetermined overhead rate on the basis of direct labor...
Flandro Company uses a standard cost system and sets its predetermined overhead rate on the basis of direct labor-hours. The following data are taken from the company's planning budget for the current year: Denominator activity (direct labor-hours) Variable manufacturing overhead coat Fixed manufacturing overhead coat $ 4,250 The standard cost card for the company's only product is given below. Standard Inputs Direct materials Direct labor Mutacturing overhead Total standard cost per Standard Quantity Dr Hours yards 2 hours 2 hour...
Kris Company calculates its predetermined rates using practical volume, which is 325,000 units. The standard cost system allows 3 director hours per unit produced. Overhead is applied using direct labor hours. The total budgeted overhead is 14.260.000, of which 5994.000 is fed overhead The actual results for the year are as follows: Units produced: Direct labor: Variable overhead: Foxed overhead: 318,000 965,000 hours $3,302,000 $998,000 $12.00/hour Round all overhead rates to two decimal places Calculate the variable overhead efficiency variance...
Urbana Company calculates its predetermined manufacturing overhead rates using normal capacity, which is 288,000 units. The standard cost system allows 2 direct labor hours per unit produced. Manufacturing overhead is applied using direct labor hours. The total budgeted manufacturing overhead is $3,168,000, of which $864,000 is fixed manufacturing overhead. The actual results for the year are as follows. 5. The company's variable manufacturing overhead efficiency (quantity) variance is: $24,000 F. (b) $40,000 U. $40,000 F. $24,000 U. (a) URBANA COMPANY...
Concita Ltd. uses a standard cost system and sets predetermined overhead rates on the basis of direct labour hours. The company's budget indicates the following data for the current year. Denominator activity Variable manufacturing overhead (10,000 direct labour hours @$3.42) Fixed manufacturing overhead cost Predetermined overhead rate ($104,200 10,000 direct labour hours) 5,000 units $34,200 $70,000 $10.42 The standard cost card for the company's only product is given below: Standard Quantity Standard price Standard cost or hours Per Unit or...
Use the following information to answer Questions 9 through 13. Urbana Company calculates its predetermined manufacturing overhead rates using normal capacity, which is 288,000 units. The standard cost system allows 2 direct labor hours per unit produced. Manufacturing overhead is applied using direct labor hours. The total budgeted manufacturing overhead is $3,168,000, of which $864,000 is fixed manufacturing overhead. The actual results for the year are as follows. URBANA COMPANY ACTUAL RESULTS FOR PRODUCTION FOR CURRENT YEAR 280,000 Units produced...
answere 7 to 11
7) During June, Bradley Company produced 4,000 units of product. The standard cost card indicates the following labour standards per unit of output: 3.5 hours @ $6 per hour $21. During the month, the company worked 15.000 hours. The standard hours allowed for the month were a) 14,000 hours. b) 15,000 hours. c) 24,000 hours. d) 18,000 hours. 8) Refer to the data in question 17) above. What is the labour efficiency variance for June? a)...
2. Different management levels in Echuca Pty Ltd require varying degrees of managerial accounting information. Because of the need to comply with the managers' requests, four different variances for manufacturing overhead are computed each month. The information for the September overhead expenditures is as follows: Budgeted output units Budgeted fixed manufacturing overhead Budgeted variable manufacturing overhead Budgeted direct manufacturing labour hours Fixed manufacturing costs incurred Direct manufacturing labour hours used Variable manufacturing costs incurred Actual units manufactured 6400 units $40...
Flandro Company uses a standard cost system and sets its predetermined overhead rate on the basis of direct labor-hours. The following data are taken from the company's planning budget for the current year: Denominator activity (direct labor-hours) Variable manufacturing overhead coat Fixed manufacturing overhead coat $ 4,250 The standard cost card for the company's only product is given below. Standard Inputs Direct materials Direct labor Mutacturing overhead Total standard cost per Standard Quantity Dr Hours yards 2 hours 2 hour...
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