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1. Predetermined overhead rate computations | ||
Expected volume | 75% | |
Expected total overhead | $ 2,100,000 | |
Expected hours | 375,000 hrs. | |
Variable cost per hour ($1,500,000/ 375,000) | $ 4.00 | |
Fixed cost per hour ($600,000/ 375,000) | $ 1.60 | |
Total cost per hour ($2,100,000/ 375,000) | $ 5.60 | |
2. Variable overhead cost variance | ||
Variable overhead cost incurred [given] | $ 1,375,000 | |
Variable overhead cost applied [350,000 hrs. @ $4.00] | $ 1,400,000 | |
Variable overhead cost variance | $ 25,000 F | |
Fixed overhead cost variance | ||
Fixed overhead cost incurred [given] | $ 628,600 | |
Fixed overhead cost applied [350,000 hrs. @ $1.60] | $ 560,000 | |
Fixed overhead cost variance | $ 68,600 U |
Use the following information for the Exercises below. The following information applies to the questions displayed...
Required Information [The following information applies to the questions displayed below) Sedona Company set the following standard costs for one unit of its product for this year. Direct material (30 lbs. @ $2.00 per Ib.) Direct labor (20 hrs. @ $4.50 per hr.) Variable overhead (20 hrs. @ $2.50 per hr.) Fixed overhead (20 hrs. @ $1.20 per hr.) Total standard cost $ 60.00 90.ee 50.ee 24.ee $224.ee The $3.70 ($2.50 - $1.20) total overhead rate per direct labor hour...
Use the following information for the Exercises below. [The following information applies to the questions displayed below] Sedona Company set the following standard costs for one unit of its product for 2017 Direct material (30 lbs. $2.50 per lb.) Direct labor (20 hrs. @ $4.80 per hr.) Factory variable overhead (20 hrs. @ $2.30 per hr.) Factory fixed overhead (20 hrs.@ $1.20 per hr.) $ 75.00 96.00 46.00 24.00 $241.00 Standard cost The $3.50 ($2.30 $1.20) total overhead rate per...
Use the following information for the Exercises below. [The following information applies to the questions displayed below.) Sedona Company set the following standard costs for one unit of its product for 2017. Direct material (30 lbs. @ $2.50 per lb.) Direct labor (20 hrs. @ $4.80 per hr.) Factory variable overhead (20 hrs. @ $2.30 per hr.) Factory fixed overhead (20 hrs. @ $1.20 per hr.) Standard cost $ 75.00 96.00 46.00 24.00 $241.00 The $3.50 ($2.30 + $1.20) total...
[The following information applies to the questions displayed below.] Sedona Company set the following standard costs for one unit of its product for this year. Direct material (15 Ibs. @ $3.80 per Ib.) Direct labor (10 hrs. @ $9.40 per hr.) Variable overhead (10 hrs. @ $4.20 per hr.) Fixed overhead (10 hrs. @ $2.50 per hr.) Total standard cost $ 57.00 94.00 42.00 25.00 $218.00 The $6.70 ($4.20 + $2.50) total overhead rate per direct labor hour is based...
Required Information The following information applies to the questions displayed below) Sedona Company set the following standard costs for one unit of its product for this year. Direct material (30 Ibs. @ $2.50 per Ib.) Direct labor (20 hrs. @ $4.80 per hr.) Variable overhead (20 hrs. @ $2.30 per hr.) Fixed overhead (20 hrs. $1.20 per nr.) Total standard cost $ 75.00 96.00 46.00 24.00 $241.00 The $3.50 ($2.30 + $1.20) total overhead rate per direct labor hour is...
Required information Use the following information for the Exercises below. The following information applies to the questions displayed below) Sedona Company set the following standard costs for one unit of its product for 2017 Direct material (30 lbs. 52.20 per Ib.) Direct labor (10 hrs. @ $4.60 per hr.) Factory variable overhead (10 hrs. @ $3.00 per hr.) Factory fixed overhead (10 hrs. @ $1.50 per hr.) Standard cost $66.00 46.88 30.00 15.00 $157.ee The $4.50 ($3.00+ $1.50) total overhead...
Required information (The following information applies to the questions displayed below.) Sedona Company set the following standard costs for one unit of its product for this year. Direct material (30 lbs. e $2.50 per Ib.) Direct labor (20 hrs. e $4.80 per hr.) Variable overhead (20 hrs. e $2.30 per hr.) Fixed overhead (20 hrs. $1.20 per hr.) Total standard cost $ 75.00 96.00 46.00 24.00 $241.00 The $3.50 ($2.30 + $1.20) total overhead rate per direct labor hour is...
Required Information [The following information applies to the questions displayed below] Sedona Company set the following standard costs for one unit of its product for this year. Direct material (30 lbs. $2.50 per Ib. ) Direct labor (20 hrs. $4.80 per hr.) Variable overhead (20 hrs. $2.30 per hr.) Fixed overhead (20 hrs. $1.20 per hr.) Total standard cost $75.00 96.00 46.00 24.ee $241.00 The $3.50 ($2.30 + $1.20) total overhead rate per direct labor hour is based on an...
Required information [The following information applies to the questions displayed below.] Sedona Company set the following standard costs for one unit of its product for 2017. Direct material (20 Ibs. @ $3.20 per Ib.) $ 64.00 Direct labor (10 hrs. @ $8.30 per hr.) 83.00 Factory variable overhead (10 hrs. @ $4.70 per hr.) 47.00 Factory fixed overhead (10 hrs. @ $2.30 per hr.) 23.00 Standard cost $ 217.00 The $7.00 ($4.70 + $2.30) total overhead rate per direct labor...
[The following information applies to the questions displayed below. Sedona Company set the following standard costs for one unit of its product for this year. Direct material (15 Ibs. @ $4.20 per Ib.) Direct labor (10 hrs. $6.40 per hr.) Variable overhead (10 hrs. @ $3.70 per hr.) Fixed overhead (10 hrs. $1.50 per hr.) Total standard cost $ 63.00 64.00 37.00 15.00 $179.00 The $5.20 ($3.70 + $1.50) total overhead rate per direct labor hour is based on an...