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2. Wyoming division is responsible for manufacturing costs, and bases its budget on machine-hours....
Standard machine hours per unit of output 4 hours Standard variable-overhead rate per machine hour 8.00...
Standard machine hours per unit of output 4 hours Standard variable-overhead rate per machine hour 8.00 Actual variable-overhead rate per machine hour Actual machine hours per unit of output Budgeted fixed overhead |Actual fixed overhead Budgeted production in units Actual production in units Variable-overhead spending variance Variable-overhead efficiency variance Fixed-overhead budget variance Fixed-overhead volume variance Total actual overhead Total budgeted overhead (flexible budget) Total budgeted overhead (static budget) Total applied overhead 9.00 3 S 50,000 25,000 24,000 72,000 Unfavorable 192,000...
15) At 60,000 machine hours, Norwall Company's static budget for variable overhead costs is $180,000. At...
15) At 60,000 machine hours, Norwall Company's static budget for variable overhead costs is $180,000. At 60,000 machine hours, the company's static budget for fixed overhead costs is $300,000. Machine hours are the cost driver of all overhead costs. The static budget is based on 60,000 machine hours. At 60,000 machine hours, the company produces 40,000 units. The following data is available: Actual units produced and sold Actual machine hours Actual variable overhead costs Actual fixed overhead costs 42,000 64,000...
Lydia Company planned to produce 12,000 units. Processing required 16,000 machine hours at a cost of...
Lydia Company planned to produce 12,000 units. Processing required 16,000 machine hours at a cost of $43,000 + $12 per machine hour. Actual sales were 15,000 units requiring 20,000 machine hours. Actual processing cost was $253,000. _____ is the flexible-budget variance for processing. Group of answer choices $18,000 favorable $30,000 unfavorable $18,000 unfavorable $30,000 favorable
"You work at a manufacturing plant and your supervisor has requested that you review the company’s...
"You work at a manufacturing plant and your supervisor has
requested that you review the company’s costing system because the
company trying to better understand and control their costs. The
schedules below include the cost formulas your company uses to
create their flexible budget and the schedule of March's actual
cost data:" Cost Formulas: Actual Costs in March
Utilities $16,600 plus $0.18 per machine-hour
Utilities $22,360 Maintenance $38,800 plus
$2.00 per machine-hour Maintenance $76,600
Supplies $0.30 per machine-hour Supplies
$6,400...
2. Bondi Corporation makes automotive engines. For the most recent month, budgeted production was 2,700 engines....
2.
Bondi Corporation makes automotive engines. For the most recent month, budgeted production was 2,700 engines. The standard power cost is $1.80 per machine-hour. The company's standards indicate that each engine requires 10.5 machine-hours. Actual production was 3,000 engines. Actual machine-hours were 29,750 machine-hours. Actual power cost totaled $58,537. Required: Determine the rate and efficiency variances for the variable overhead item power cost and indicate whether those variances are unfavorable or favorable. (Indicate the effect of each variance by selecting...
James Corp. applies overhead on the basis of direct labor hours. For the month of May,...
James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following overhead budget: Operating Levels Overhead Budget 80% Production in units 10,000 Standard direct labor hours 25,000 Budgeted overhead Variable overhead costs Indirect materials $ 18,000 Indirect labor 25,000 Power 5,000 Maintenance 2,000 Total variable costs 50,000 Fixed overhead costs Rent of factory building 18,000 Depreciation—Machinery...
Walkenhorst Company's machining department prepared its 2019 budget based on the following data: 40,000 units 2...
Walkenhorst Company's machining department prepared its 2019 budget based on the following data: 40,000 units 2 Practical capacity Standard machine hours per unit Standard variable factory overhead Budgeted fixed factory overhead $3.00 per machine hour $424,000 The department uses machine hours to apply factory overhead to production. In 2019, the department used 85,800 machine hours and incurred $689,000 in total manufacturing overhead cost to manufacture 42,070 units. Actual fixed overhead cost for the year was $437,000. Required: Determine for the...
24) Mongar Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and...
24) Mongar Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhead costs for the most recent month appear below: Original Budget Actual Costs Variable overhead costs: Supplies $ 7,980 $ 8,230 Indirect labor 29,820 29,610 Total variable manufacturing overhead cost $ 37,800 $ 37,840 The original budget was based on 4,200 machine-hours. The company actually worked 4,350 machine-hours during the month and the standard hours allowed for the actual output were 4,190 machine-hours....
Requirement 2. Comment on the results in requirement 1. Please help with choosing the comments based...
Requirement 2. Comment on the results in requirement 1. Please
help with choosing the comments based on the answer above
The total static-budget variance in operating income is $
(number)
There is a(n) (Favorable/Unfavorable)
total flexible-budget
variance and a(n) (Favorable/Unfavorable)
sales-volume variance. The sales-volume variance arises solely
because actual units
manufactured and sold were (less/more)
than the budgeted 3,700 units. The flexible-budget variance in
operating income is due
primarily to the (increase/decrease)
in unit variable costs.
Anderson Enterprises manufactures tires...
Help Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round...
Help Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round "rate per hour" answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Spending Variances Budget Activity Variances Planning Budget Labor-hours (9) 9,610 9,130...
Standard machine hours per unit of output 4 hours Standard variable-overhead rate per machine hour 8.00 Actual variable-overhead rate per machine hour Actual machine hours per unit of output Budgeted fixed overhead |Actual fixed overhead Budgeted production in units Actual production in units Variable-overhead spending variance Variable-overhead efficiency variance Fixed-overhead budget variance Fixed-overhead volume variance Total actual overhead Total budgeted overhead (flexible budget) Total budgeted overhead (static budget) Total applied overhead 9.00 3 S 50,000 25,000 24,000 72,000 Unfavorable 192,000...
15) At 60,000 machine hours, Norwall Company's static budget for variable overhead costs is $180,000. At 60,000 machine hours, the company's static budget for fixed overhead costs is $300,000. Machine hours are the cost driver of all overhead costs. The static budget is based on 60,000 machine hours. At 60,000 machine hours, the company produces 40,000 units. The following data is available: Actual units produced and sold Actual machine hours Actual variable overhead costs Actual fixed overhead costs 42,000 64,000...
"You work at a manufacturing plant and your supervisor has
requested that you review the company’s costing system because the
company trying to better understand and control their costs. The
schedules below include the cost formulas your company uses to
create their flexible budget and the schedule of March's actual
cost data:" Cost Formulas: Actual Costs in March
Utilities $16,600 plus $0.18 per machine-hour
Utilities $22,360 Maintenance $38,800 plus
$2.00 per machine-hour Maintenance $76,600
Supplies $0.30 per machine-hour Supplies
$6,400...
2.
Bondi Corporation makes automotive engines. For the most recent month, budgeted production was 2,700 engines. The standard power cost is $1.80 per machine-hour. The company's standards indicate that each engine requires 10.5 machine-hours. Actual production was 3,000 engines. Actual machine-hours were 29,750 machine-hours. Actual power cost totaled $58,537. Required: Determine the rate and efficiency variances for the variable overhead item power cost and indicate whether those variances are unfavorable or favorable. (Indicate the effect of each variance by selecting...
Walkenhorst Company's machining department prepared its 2019 budget based on the following data: 40,000 units 2 Practical capacity Standard machine hours per unit Standard variable factory overhead Budgeted fixed factory overhead $3.00 per machine hour $424,000 The department uses machine hours to apply factory overhead to production. In 2019, the department used 85,800 machine hours and incurred $689,000 in total manufacturing overhead cost to manufacture 42,070 units. Actual fixed overhead cost for the year was $437,000. Required: Determine for the...
Requirement 2. Comment on the results in requirement 1. Please
help with choosing the comments based on the answer above
The total static-budget variance in operating income is $
(number)
There is a(n) (Favorable/Unfavorable)
total flexible-budget
variance and a(n) (Favorable/Unfavorable)
sales-volume variance. The sales-volume variance arises solely
because actual units
manufactured and sold were (less/more)
than the budgeted 3,700 units. The flexible-budget variance in
operating income is due
primarily to the (increase/decrease)
in unit variable costs.
Anderson Enterprises manufactures tires...
Help Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round "rate per hour" answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Spending Variances Budget Activity Variances Planning Budget Labor-hours (9) 9,610 9,130...
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