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Question 24 Bramble provided the following information from its accounting records for 2020: Expected production Actual...
Marigold Corp. provided the following information from its accounting records for 2019. Expected production 100000 labor...
Marigold Corp. provided the following information from its accounting records for 2019. Expected production 100000 labor hours Actual production 96000 labor hours Budgeted overhead $700000 Actual overhead $670000 How much is the overhead application rate if Marigold Corp. bases the rate on direct labor hours? $6.98 per hour $6.70 per hour $7.29 per hour $7.00 per hour
Jokic Company provided the following information from its accounting records for 2020: Estimated production 63,000 labor...
Jokic Company provided the following information from its accounting records for 2020: Estimated production 63,000 labor hours Actual production 68,000 labor hours Budgeted overhead $1,713,000 Actual overhead $1,741,000 Jokic bases its overhead application rate on direct labor hours. What is the overhead rate per labor hour (to the nearest penny)?
Bramble Manufacturing Company, a small manufacturer of appliance parts, has just completed its first year of...
Bramble Manufacturing Company, a small manufacturer of appliance parts, has just completed its first year of operations. The company's controller, Joseph Moore, has been reviewing the results for the year and is concerned about the application of factory overhead. Trainor is using the following information to assess operations. Bramble uses several machines with a combined cost of $2,260,000 and no residual value. Each machine has an output of 5 units of product per hour and a useful life of 24,000...
Inspired Ltd manufactures spurs. Organisation policy requires factory overhead to be applied to the production of...
Inspired Ltd manufactures spurs. Organisation policy requires factory overhead to be applied to the production of spurs using a predetermined rate based on budgeted direct labour hours. Budgeted cost of production (for 30000 units) for the year was, direct materials 225000, direct labour (6000 hours) 75000, fixed factory overhead 30000. Actual factory overhead incurred in the year was 72000. Actual direct labour hours was 6100. A) Calculate the factory overhead application rate (per direct labour hour) for the year. b)...
drop down menu : favorable, unfavorable and neither Question 12 Pagley Company's standard labour cost of...
drop down menu : favorable, unfavorable and neither
Question 12 Pagley Company's standard labour cost of producing one unit of product DD is 3.75 hours at the rate of $12.30 per hour. During August, 41,580 hours of labour are incurred at a cost of $12.55 per hour to produce 10,800 units of product DD. Calculate the total labour variance. Total labour variance $ LINK TO TEXT Calculate the labour price and quantity variances. Labour price variance: Labour quantity variance: $...
fill in the missing numbers Consider the following data provided for each of the following independent...
fill in the missing numbers
Consider the following data provided for each of the following independent cases. For each case assume that the business uses a standard cost system and a flexible budget to control variable and fixed manufacturing overhead, and applies manufacturing overhead on the basis of direct labour hours. Fill in the blanks for each case, and indicate whether the variances are favourable (F) or unfavourable (U). Phi Company Pho Company Number of labour hours budgeted $10,600 hrs...
Question 24 Rondell Company uses standard cost system. Indirect costs were budgeted at $190,800 plus $13...
Question 24 Rondell Company uses standard cost system. Indirect costs were budgeted at $190,800 plus $13 per direct labour hour. The overhead rate is based on 10,600 hours. Actual results were: Standard direct labour hours allowed Actual direct labour hours Fixed overhead Variable overhead 9,070 10,600 $179,000 $174,400 Calculate the fixed overhead production volume variance. Fixed overhead production volume variance Calculate the variable overhead spending variance. Variable overhead spending variance $ Calculate the variable overhead efficiency variance. Variable overhead efficiency...
You have been given the following information about the production of Gamma Co: Problem 12.40A a-h...
You have been given the following information about the
production of Gamma Co:
Problem 12.40A a-h You have been given the following information about the production of Gamma Co., and are asked to provide the plant manager with information for a meeting with the vice-president of operations: Direct materials (5.00 kg at $3.00 per kilogram) Direct labour (0.50 hours at $4.00) Variable overhead (0.50 hours at $3.00 per hour) Fixed overhead (0.50 hours at $6 per hour) Standard Cost Card...
Raab surgent Clinic provided the following information from its accounting records for 2014: Expected labour operations...
Raab surgent Clinic provided the following information from its accounting records for 2014: Expected labour operations 32,000 labor hours Expected overhead $9,760,000 Labor hour cost $400 a. A Patient who was admitted in June costed $ 2,000 direct material and needed 12 operation hours. Calculate the total cost of that patient if Raab use labor hours as activity base to determine the manufacturing overhead. b. Calculate the total cost of that patient if Raab use labour cost as activity base...
The following data are given for Harry Company: Budgeted production 1,054 units Actual production 937 units...
The following data are given for Harry Company: Budgeted production 1,054 units Actual production 937 units Materials: Standard price per ounce $1.919 Standard ounces per completed unit 11 Actual ounces purchased and used in production 10,616 Actual price paid for materials $21,763 Labor: Standard hourly labor rate $14.76 per hour Standard hours allowed per completed unit 4.3 Actual labor hours worked 4,826 Actual total labor costs $78,423 Overhead: Actual and budgeted fixed overhead $1,025,000 Standard variable overhead rate $24.00 per...
Jokic Company provided the following information from its accounting records for 2020: Estimated production 63,000 labor hours Actual production 68,000 labor hours Budgeted overhead $1,713,000 Actual overhead $1,741,000 Jokic bases its overhead application rate on direct labor hours. What is the overhead rate per labor hour (to the nearest penny)?
Bramble Manufacturing Company, a small manufacturer of appliance parts, has just completed its first year of operations. The company's controller, Joseph Moore, has been reviewing the results for the year and is concerned about the application of factory overhead. Trainor is using the following information to assess operations. Bramble uses several machines with a combined cost of $2,260,000 and no residual value. Each machine has an output of 5 units of product per hour and a useful life of 24,000...
drop down menu : favorable, unfavorable and neither
Question 12 Pagley Company's standard labour cost of producing one unit of product DD is 3.75 hours at the rate of $12.30 per hour. During August, 41,580 hours of labour are incurred at a cost of $12.55 per hour to produce 10,800 units of product DD. Calculate the total labour variance. Total labour variance $ LINK TO TEXT Calculate the labour price and quantity variances. Labour price variance: Labour quantity variance: $...
fill in the missing numbers
Consider the following data provided for each of the following independent cases. For each case assume that the business uses a standard cost system and a flexible budget to control variable and fixed manufacturing overhead, and applies manufacturing overhead on the basis of direct labour hours. Fill in the blanks for each case, and indicate whether the variances are favourable (F) or unfavourable (U). Phi Company Pho Company Number of labour hours budgeted $10,600 hrs...
Question 24 Rondell Company uses standard cost system. Indirect costs were budgeted at $190,800 plus $13 per direct labour hour. The overhead rate is based on 10,600 hours. Actual results were: Standard direct labour hours allowed Actual direct labour hours Fixed overhead Variable overhead 9,070 10,600 $179,000 $174,400 Calculate the fixed overhead production volume variance. Fixed overhead production volume variance Calculate the variable overhead spending variance. Variable overhead spending variance $ Calculate the variable overhead efficiency variance. Variable overhead efficiency...
You have been given the following information about the
production of Gamma Co:
Problem 12.40A a-h You have been given the following information about the production of Gamma Co., and are asked to provide the plant manager with information for a meeting with the vice-president of operations: Direct materials (5.00 kg at $3.00 per kilogram) Direct labour (0.50 hours at $4.00) Variable overhead (0.50 hours at $3.00 per hour) Fixed overhead (0.50 hours at $6 per hour) Standard Cost Card...
Raab surgent Clinic provided the following information from its accounting records for 2014: Expected labour operations 32,000 labor hours Expected overhead $9,760,000 Labor hour cost $400 a. A Patient who was admitted in June costed $ 2,000 direct material and needed 12 operation hours. Calculate the total cost of that patient if Raab use labor hours as activity base to determine the manufacturing overhead. b. Calculate the total cost of that patient if Raab use labour cost as activity base...
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