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Draw up a flexible budget for overhead expenses on the basis of the following data at...
Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead varian...
Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, C2 [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (3.0 Ibs. @ $5.00 per Ib.) Direct labor (1.7 hrs. @ $14.00 per hr.) Overhead (1.7 hrs. @ $18.50 per hr.) Total standard cost $15.00 23.80 31.45 $70.25 The predetermined overhead rate ($18.50 per direct...
Blaze Corp, applies overhead on the basis of direct labor hours. For the month of March,...
Blaze Corp, applies overhead on the basis of direct labor hours. For the month of March, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following budget: Operating Levels 808 10,000 30,000 Overhead Budget Production in units Standard direct labor hours Budgeted overhead Variable overhead costo Indirect materials Indirect labor Power Maintenance Total variable costs Fixed overhead costs Rent of factory building Depreciation-Machinery Taxes and insurance Supervisory salaries Total fixed costs...
Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report...
Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, C2 [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (4.0 Ibs. @ $5.00 per Ib.) Direct labor (1.9 hrs. @ $10.00 per hr.) Overhead (1.9 hrs. @ $18.50 per hr.) Total standard cost $20.00 19.00 35.15 $74.15 The predetermined overhead rate ($18.50 per direct...
Montgomery Limited has developed the following flexible budget formulas for its four overhead item Variable rate...
Montgomery Limited has developed the following flexible budget formulas for its four overhead item Variable rate per Overhead item Fixed Cost direct labour hour Maintenance $10,000 $3.00 Power $1,500 $0.30 Indirect labour cost $12.00 Equipment lease $7,000 Total $18,500 $15.30 Montgomery normally produces 15,000 units (each unit requires 0.30 direct labour hours); however this y 19,000 units were produced with the following actual costs: Overhead item Actual costs Maintenance $14,000 $2,200 Indirect labour cost $70,000 Equipment lease $7,000 Total costs...
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press...
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 11,000 hours of productive capacity in the department: Variable overhead cost: Indirect factory labor $104,500 Power and light 3,190 Indirect materials 30,800 Total variable overhead cost $138,490 Fixed overhead cost: Supervisory salaries $48,470 Depreciation of plant and equipment 30,470 Insurance and property taxes 19,390 Total fixed overhead cost 98,330 Total factory...
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press...
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected Department for October of the current year, during which it expected to require 9,000 hours of productive capacity in the department: Variable overhead cost: Indirect factory labor $88,200 Power and light 2,610 Indirect materials 26,100 Total variable overhead cost $116,910 Fixed overhead cost: Supervisory salaries $40,920 Depreciation of plant and equipment 25,720 Insurance...
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press...
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 9,000 hours of productive capacity in the department: Variable overhead cost: Indirect factory labor $71,100 Power and light 3,600 Indirect materials 24,300 Total variable overhead cost $99,000 Fixed overhead cost: Supervisory salaries $34,650 Depreciation of plant and equipment 21,780 Insurance and property taxes 13,860 Total fixed overhead cost 70,290 Total factory...
Webb, Inc. uses a flexible budget for manufacturing overhead based on machine hours. Variable manufacturing overhead...
Webb, Inc. uses a flexible budget for manufacturing overhead based on machine hours. Variable manufacturing overhead costs per machine hour are as follows: $5.00 2.50 Indirect labor Indirect materials Maintenance Utilities .50 .30 Fixed overhead costs per month are: Supervision Insurance Property taxes Depreciation $1,200 400 600 1,800 The company believes it will normally operate in a range of 4,000 to 8,000 machine hours per month. During the month of August, 2019, the company incurs the following manufacturing overhead costs:...
Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report...
Problem 21-3A Flexible budget preparation; computation of
materials, labor, and overhead variances; and overhead variance
report LO P1, P2, P3, C2 [The following information applies to the
questions displayed below.]
Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, C2 [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (3.0 Ibs. @ $6.00 per...
3. The following data are available in a manufacturing company for a yearly period: Particulars Fixed...
3. The following data are available in a manufacturing company for a yearly period: Particulars Fixed expenses: Wages and Salaries 9,50,000 Rent, Rate & Taxes 6,60,000 Depreciation 7,40,000 Sundry Admin Expenses 6,50,000 Semi Variable Expenses at 50% Capacity: Maintenance & Repairs 3.50.000 Indirect Labor 7,90,000 Sales Dept. Salaries etc. 3,80,00 Sundry Admin Salaries 2,80,000 Variable Expenses Material 21,70,000 Labor 20,40,000 Other Expenses 7.90,000 Total 98,00,000 Sales at various levels are: 50% Capacity 60% Capacity 75% Capacity 90% Capacity 100% Capacity...
Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, C2 [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (3.0 Ibs. @ $5.00 per Ib.) Direct labor (1.7 hrs. @ $14.00 per hr.) Overhead (1.7 hrs. @ $18.50 per hr.) Total standard cost $15.00 23.80 31.45 $70.25 The predetermined overhead rate ($18.50 per direct...
Blaze Corp, applies overhead on the basis of direct labor hours. For the month of March, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following budget: Operating Levels 808 10,000 30,000 Overhead Budget Production in units Standard direct labor hours Budgeted overhead Variable overhead costo Indirect materials Indirect labor Power Maintenance Total variable costs Fixed overhead costs Rent of factory building Depreciation-Machinery Taxes and insurance Supervisory salaries Total fixed costs...
Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, C2 [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (4.0 Ibs. @ $5.00 per Ib.) Direct labor (1.9 hrs. @ $10.00 per hr.) Overhead (1.9 hrs. @ $18.50 per hr.) Total standard cost $20.00 19.00 35.15 $74.15 The predetermined overhead rate ($18.50 per direct...
Montgomery Limited has developed the following flexible budget formulas for its four overhead item Variable rate per Overhead item Fixed Cost direct labour hour Maintenance $10,000 $3.00 Power $1,500 $0.30 Indirect labour cost $12.00 Equipment lease $7,000 Total $18,500 $15.30 Montgomery normally produces 15,000 units (each unit requires 0.30 direct labour hours); however this y 19,000 units were produced with the following actual costs: Overhead item Actual costs Maintenance $14,000 $2,200 Indirect labour cost $70,000 Equipment lease $7,000 Total costs...
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected Department for October of the current year, during which it expected to require 9,000 hours of productive capacity in the department: Variable overhead cost: Indirect factory labor $88,200 Power and light 2,610 Indirect materials 26,100 Total variable overhead cost $116,910 Fixed overhead cost: Supervisory salaries $40,920 Depreciation of plant and equipment 25,720 Insurance...
Webb, Inc. uses a flexible budget for manufacturing overhead based on machine hours. Variable manufacturing overhead costs per machine hour are as follows: $5.00 2.50 Indirect labor Indirect materials Maintenance Utilities .50 .30 Fixed overhead costs per month are: Supervision Insurance Property taxes Depreciation $1,200 400 600 1,800 The company believes it will normally operate in a range of 4,000 to 8,000 machine hours per month. During the month of August, 2019, the company incurs the following manufacturing overhead costs:...
Problem 21-3A Flexible budget preparation; computation of
materials, labor, and overhead variances; and overhead variance
report LO P1, P2, P3, C2 [The following information applies to the
questions displayed below.]
Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, C2 [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (3.0 Ibs. @ $6.00 per...
3. The following data are available in a manufacturing company for a yearly period: Particulars Fixed expenses: Wages and Salaries 9,50,000 Rent, Rate & Taxes 6,60,000 Depreciation 7,40,000 Sundry Admin Expenses 6,50,000 Semi Variable Expenses at 50% Capacity: Maintenance & Repairs 3.50.000 Indirect Labor 7,90,000 Sales Dept. Salaries etc. 3,80,00 Sundry Admin Salaries 2,80,000 Variable Expenses Material 21,70,000 Labor 20,40,000 Other Expenses 7.90,000 Total 98,00,000 Sales at various levels are: 50% Capacity 60% Capacity 75% Capacity 90% Capacity 100% Capacity...
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