Homework Answers
| Ans. A | First of all, we will calculate budgeted direct labor hours for the computation of | ||||
| predetermined overhead rate. | |||||
| Budgeted direct labor hours = Direct labor hour per unit * Units produced | |||||
| 1 hour * 125,000 units | |||||
| 125,000 hours | |||||
| Predetermined overhead rate = Budgeted overhead cost / Budgeted Direct labor hours | |||||
| Variable | $500,000 / 125,000 | $4.00 | per direct labor hour | ||
| Fixed | $625,000 / 125,000 | $5.00 | per direct labor hour | ||
| Total predetermined overhead rate = Variable overhead rate + Fixed overhead rate | |||||
| $4.00 + $5.00 | |||||
| $9.00 per hour | |||||
| Ans. B | Overhead applied = Total predetermined overhead rate * Actual direct labor hours | ||||
| $9.00 * 93,500 | |||||
| $841,500 | |||||
| Ans. C | Under applied overhead = Actual overhead - Applied overhead | ||||
| $956,875 - $841,500 | |||||
| $115,375 | |||||
| *Calculations for total actual overhead cost: | |||||
| Variable overhead cost | $201,375 | ||||
| Fixed overhead cost | $755,500 | ||||
| Total overhead cost | $956,875 | ||||
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Exercise 23-12 Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost...
Exercise 23-12
Byrd Company produces one product, a putter called GO-Putter.
Byrd uses a standard cost system and determines that it should take
one hour of direct labor to produce one GO-Putter. The normal
production capacity for this putter is 100,000 units per year. The
total budgeted overhead at normal capacity is $850,000 comprised of
$300,000 of variable costs and $550,000 of fixed costs. Byrd
applies overhead on the basis of direct labor hours.
During the current year, Byrd produced...
Exercise 11-12 (Video) Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard...
Exercise 11-12 (Video) Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 100,000 units per year. The total budgeted overhead at normal capacity is $500,000 comprised of $200,000 of variable costs and $300,000 of fixed costs. Byrd applies overhead on the basis of direct labor hours. During the current year, Byrd...
Exercise 11-12 (Video) Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard...
Exercise 11-12 (Video) Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 100,000 units per year. The total budgeted overhead at normal capacity is $850,000 comprised of $300,000 of variable costs and $550,000 of fixed costs. Byrd applies overhead on the basis of direct labor hours. During the current year, Byrd...
Exercise 11-12 (Video) Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard...
Exercise 11-12 (Video) Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 100,000 units per year. The total budgeted overhead at normal capacity is $850,000 comprised of $300,000 of variable costs and $550,000 of fixed costs. Byrd applies overhead on the basis of direct labor hours. During the current year, Byrd...
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Novak Company produces one product, a putter called GO-Putter. Novak uses a standard cost system and...
Novak Company produces one product, a putter called GO-Putter.
Novak uses a standard cost system and determines that it should
take one hour of direct labor to produce one GO-Putter. The normal
production capacity for this putter is 110,000 units per year. The
total budgeted overhead at normal capacity is $1,045,000 comprised
of $385,000 of variable costs and $660,000 of fixed costs. Novak
applies overhead on the basis of direct labor hours.
During the current year, Novak produced 74,000 putters,...
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Exercise 23-12 Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 115,000 units per year. The total budgeted overhead at normal capacity is $747,500 comprised of $230,000 of variable costs and $517,500 of fixed costs. Byrd applies overhead on the basis of direct labor hours. During the current year, Byrd produced...
Exercise 23-12
Byrd Company produces one product, a putter called GO-Putter.
Byrd uses a standard cost system and determines that it should take
one hour of direct labor to produce one GO-Putter. The normal
production capacity for this putter is 100,000 units per year. The
total budgeted overhead at normal capacity is $850,000 comprised of
$300,000 of variable costs and $550,000 of fixed costs. Byrd
applies overhead on the basis of direct labor hours.
During the current year, Byrd produced...
Exercise 11-12 (Video) Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 100,000 units per year. The total budgeted overhead at normal capacity is $500,000 comprised of $200,000 of variable costs and $300,000 of fixed costs. Byrd applies overhead on the basis of direct labor hours. During the current year, Byrd...
Exercise 11-12 (Video) Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 100,000 units per year. The total budgeted overhead at normal capacity is $850,000 comprised of $300,000 of variable costs and $550,000 of fixed costs. Byrd applies overhead on the basis of direct labor hours. During the current year, Byrd...
Exercise 11-12 (Video) Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 110,000 units per year. The total budgeted overhead at normal capacity is $990,000 comprised of $330,000 of variable costs and $660,000 of fixed costs. Byrd applies overhead on the basis of direct labor hours. During the current year, Byrd...
Novak Company produces one product, a putter called GO-Putter.
Novak uses a standard cost system and determines that it should
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production capacity for this putter is 110,000 units per year. The
total budgeted overhead at normal capacity is $1,045,000 comprised
of $385,000 of variable costs and $660,000 of fixed costs. Novak
applies overhead on the basis of direct labor hours.
During the current year, Novak produced 74,000 putters,...
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