Solution:
Fixed overhead spending variance = Budgeted fixed overhead - Actual fixed overhead
= $352,000 - $334,000 = $18,000 F
Fixed overhead volume variance = Fixed overhead applied - Budgeted fixed overhead
= (980000*$0.40) - $352,000
= $40,000 F
Over applied fixed overhead = $18,000 F + $40,000 F = $58,000 F
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Quantity 12 sq ft. 0.25 hr. Standard Price (Rate) Standard Unit Cost $ 0.72 per sq. ft. $8.64 $12.20 per hr. 3.05 Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($378,000 + 900,000 units) 0.25 hr. $ 1.20 per hr. 0.39 0.42 Parker Plastic had the following actual results for the...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $700,000 = 1,000,000 units) Standard Quantity 12 sq ft. 0.6 hr. 0.6 hr. Standard Price (Rate) $ 0.71 per sq. ft. $ 10.50 per hr. $ 1.00 per hr. Standard Unit Cost $ 8.52 6.30 0.60 0.70 Parker Plastic had the following actual results...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $639,200 = 940,000 units) Standard Quantity 10 sq ft. 0.3 hr. 0.3 hr. Standard Price (Rate) $ 1.40 per sq. ft. $13.70 per hr. $ 1.50 per hr. Standard Unit Cost $14.00 4.11 0.45 0.68 Parker Plastic had the following actual results for the...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Quantity 9 sq ft 0.3 hr Standard Unit Cost $ 9.72 Standard Price (Rate) $ 1.08 per sq. ft. 11.30 per hr. 2.80 per hr. Direct materials (plastic) Direct labor 3.39 Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $403,040 916,000 units) 0.3 hr. 0 84 0.44 Parker Plastic had the following actual results for the...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Unit Cost Standard Quantity 13 sq ft 0.3 hr. Standard Price (Rate) $ 1.55 per sq. ft. $12.10 per hr $1.20 per hr. Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $480,480 924,000 units) $20.15 3.63 0.3 hr 0.36 0.52 Parker Plastic had the following actual results for the past year:...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($1,120,000 + 1,120,899 units) Standard Quantity 12 sq ft. 0.9 hr. 0.9 hr. Standard Standard Price (Rate) Unit Cost $ 0.78 per sq. ft. $ 9.36 $10.80 per hr. 9.72 $ 1.30 per hr. 1.17 1.00 Parker Plastic had the following actual results for...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $559,200 - 932,000 units) Standard Quantity 12 sq ft. 0.25 hr. 0.25 hr. Standard Price (Rate) $ 1.00 per sq. ft. $ 12.80 per hr. $ 2.00 per hr. Standard Unit Cost $12.00 3.20 0.50 0.60 Parker Plastic had the following actual results for...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Standard Standard Price (Rate) $ 0.90 per sq. ft $12.60 per hr. Quantity 15 sq ft 0.25 hr Unit Cost Direct materials (plastic) $13.50 3.15 Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $539,400 930,000 units) 0.25 hr $ 1.80 per hr 0.45 0.58 Parker Plastic had the following actual results for the past...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Quantity 12 sq ft. 0.25 hr. 0.25 hr. Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead $559,200 - 932,000 units) Standard Unit Cost $12.00 3.20 Standard Price (Rate) $ 1.00 per sq. ft. $ 12.80 per hr. $ 2.00 per hr. 0.50 0.60 Parker Plastic had the following actual results for...
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead S579,080 = 934,000 units) Standard Quantity 12 sq ft. 0.25 hr. 0.25 hr. Standard Price (Rate) $ 1.10 per sq. ft. $ 13.20 per hr $ 2.20 per hr Standard Unit Cost $13.20 3.30 0.55 0.62 Parker Plastic had the following actual results for...