Question 1: Rhodium Company is planning to produce 5,000,000 speakers for the coming year. Actual production...
Question 1:
Rhodium Company is planning to produce 5,000,000 speakers for the coming year. Actual production was 3,000,000 speakers. Each speaker requires 0.50 direct labor hours per unit. Predetermined overhead rates are calculated using expected production, measured in direct labor hours. The budgeted variable overhead for the coming year is $500,000. The actual variable overhead incurred was $650,000. The applied variable overhead for the year is:
| a. |
$450,000. |
|
| b. |
$725,000. |
|
| c. |
$300,000. |
|
| d. |
$740,000. |
|
| e. |
None of these |
Question 2:
Highland Company's standard cost is $250,000. The allowable deviation is ± 10%. Its actual costs for six months are
|
January |
$235,000 |
|
February |
220,000 |
|
March |
245,000 |
|
April |
265,000 |
|
May |
270,000 |
|
June |
280,000 |
The actual cost which is lower than the lower control limit is
| a. |
$265,000 |
|
| b. |
$280,000 |
|
| c. |
$235,000 |
|
| d. |
$220,000 |
Homework Answers
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Question 1:
Rhodium Company is planning to produce 5,000,000 speakers for
the coming year. Actual production...
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data are computed for the year.
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Supervision
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Indirect labor
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Depreciation
66,000
Indirect materials
60,000
Insurance
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Repairs
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Rent
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Utilities
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Indiana Company incurred the following costs during the past year when planned production and actual production each totaled 20.000 units: Direct materials used Direct labor Variable manufacturing overhead Feud manufacturing overhad Variable selling and administrative costs Fixed selling and administrative costs $280,000 120,000 160,000 100,000 60,000 90,000 If Indiana uses variable costing, the total inventoriable costs for the year would be: Select one a. $400,000 b. 5460,000 O c. 5560,000 d. 5620,000 O e$660,000
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manufacturing overhead costs $3,660,000 Actual machine-hours 196,000 1. Calculate the budgeted manufacturing overhead rate. 2 Calculate the manufacturing overhead allocated during 2017 3. Calculate the amount of under-or overallocated manufacturing overhead. Why do Taylor's managers need to calculate this amount? 4-25 Job costing, accounting for manufacturing overhead, budgeted rates. The Matthew Company uses Seormal job-costing system at its Minneapolis plant. The plant has a machining department and an assem- bly department. Its job-costing system has two direct-cost categories (direct materials...
Problem 22-1A
Bumblebee Company estimates that 300,000 direct labor hours will
be worked during the coming year, 2017, in the Packaging
Department. On this basis, the budgeted manufacturing overhead cost
data are computed for the year.
Fixed Overhead Costs
Variable Overhead Costs
Supervision
$84,000
Indirect labor
$120,000
Depreciation
66,000
Indirect materials
60,000
Insurance
24,000
Repairs
30,000
Rent
18,000
Utilities
45,000
Property taxes
12,000
Lubricants
15,000
$204,000
$270,000
It is estimated that direct labor hours worked each month will
range from...
Bumblebee Company estimates that 366,700 direct labor hours will be worked during the coming year, 2017, in the Packaging Department. On this basis, the budgeted manufacturing overhead cost data are computed for the year. Fixed Overhead Costs Supervision Depreciation Insurance Rent Property taxes $90,000 75,240 31,320 27,000 13,200 $236,760 Variable Overhead Costs Indirect labor $168,682 Indirect materials 102,676 Repairs 73,340 Utilities 55,005 Lubricants 18,335 $418,038 It is estimated that direct labor hours worked each month will range from 29,200 to...
At the beginning of the year, a company estimated that 20,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $140,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of S150 per direct labor-hour. The company incurred actual manufacturing overhead costs of $180,000 and it actually worked 20,000 direct labor hours during the period, Assume that Job X used 20 direct labor-hours. How much manufacturing overhead would be...
Bumblebee Company estimates that 334,400 direct labor hours will be worked during the coming year, 2020, in the Packaging Department on this basis, the following budgeted manufacturing overhead cost data are computed for the year. Fixed Overhead Costs Variable Overhead Costs Supervision S92,760 Indirect labor $140,448 Depreciation 66,280 Insurancs 71.760 Indirect materials 31,080 Repairs 18,940 Utilities 46016 Rent 66,990 Property taxes 17,400 Lubricants 20.064 $231.940 $341.088 It is estimated that direct labor hours worced each month will range from 29,300...
At the beginning of the year, a company estimated that 20,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $140,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $1.50 per direct labor-hour. The company incurred actual manufacturing overhead costs of $180,000 and it actually worked 20,000 direct labor-hours during the period. Assume that Job X used 30 direct labor-hours. How much manufacturing overhead would be applied...
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