Homework Answers
Estimated manufacturing overhead = Electricity + maintenance + supervisor salary + indirect material
= ( 200+ 20*3000) + (400+30*3000)+20000+3000*16
= $218600
Option d. is correct answer.
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14) The following cost functions were developed for manufacturing overhead costs: Manufacturing Overhead Cost Sost Function...
The following cost functions were developed for manufacturing overhead costs: Manufacturing Overhead Cost Cost Function Electricity...
The following cost functions were developed for manufacturing overhead costs: Manufacturing Overhead Cost Cost Function Electricity $200 + $20 per direct labor hour Maintenance $400 + $30 per direct labor hour Supervisors' salaries $20,000 per month Indirect materials $16 per direct labor hour If January production is expected to be 2,000 units requiring 3,000 direct labor hours, estimated manufacturing overhead costs would be what?
Montgomery Company has developed the following flexible budget formulas for its four overhead items: ...
Montgomery Company has developed the following flexible budget formulas for its four overhead items: Variable rate per Overhead item Fixed Cost direct labor hour Maintenance $10,000 $ 3.00 Power $ 1,500 $ 0.30 Indirect labor cost $12.00 Equipment lease $ 7,000 Total $18,500 $15.30 Montgomery normally produces 15,000 units (each unit requires 0.30 direct labor hours); however this year 19,000 units were produced with the following actual costs: Overhead item Actual costs Maintenance...
Montgomery Company has developed the following flexible budget formulas for its four overhead items: Fixed Cost...
Montgomery Company has developed the following flexible budget formulas for its four overhead items: Fixed Cost $10,000 $ 1,500 Overhead item Maintenance Power Indirect labor cost Equipment lease Total Variable rate per direct labor hour $ 3.00 $ 0.30 $12.00 $_7,000 $18,500 $15.30 Montgomery normally produces 15,000 units (each unit requires 0.30 direct labor hours); however this year 19,000 units were produced with the following actual costs: Overhead item Maintenance Power Indirect labor cost Equipment lease Total costs Actual costs...
Montgomery Company has developed the following flexible budget formulas for its four overhead items: Variable rate...
Montgomery Company has developed the following flexible budget formulas for its four overhead items: Variable rate per Overhead item Fixed cost direct labor hour Maintenance $10,000 $ 3.00 Power $ 1,500 $ 0.30 Indirect labor cost $12.00 Equipment lease $ 7,000 Total $18,500 $15.30 Montgomery normally produces 15,000 units (each unit requires 0.30 direct labor hours); however, this year, 19,000 units were produced with the following actual costs: Overhead item Actual costs Maintenance $14,000 Power $ 2,200 Indirect labor cost...
Atlanta Company is preparing its manufacturing overhead budget for 2020. Relevant data consist of the following....
Atlanta Company is preparing its manufacturing overhead budget for 2020. Relevant data consist of the following. Units to be produced (by quarters): 10,100, 12, 100, 14,200, 16,700. Direct labor: Time is 1.5 hours per unit. Variable overhead costs per direct labor hour: indirect materials $0.80; indirect labor $1.20; and maintenance $0.60. Fixed overhead costs per quarter: supervisory salaries $38,890; depreciation $19,570; and maintenance $13,090. Prepare the manufacturing overhead budget for the year, showing quarterly data. (Round overhead rate to 2...
The following costs were incurred by Greetings R Us, a firm manufacturing greetings cards for the...
The following costs were incurred by Greetings R Us, a firm manufacturing greetings cards for the last year: Service Department costs (All of the services are provided to manufacturing function) Fringe benefits to Direct laborers in manufacturing function Fringe benefits to Indirect laborers in manufacturing function Fringe benefits for production supervisors Total overtime premiums paid Cost of idle time: Production employees Administrative costs Rental of office space for sales personnel Sales commissions Product promotion costs Direct material Advertising expenses Depreciation...
Atlanta Company is preparing its manufacturing overhead budget for 2020. Relevant data consist of the following...
Atlanta Company is preparing its manufacturing overhead budget for 2020. Relevant data consist of the following Units to be produced (by quarters): 10,400, 12,400, 14,200, 16,600. Direct labor: Time is 1.7 hours per unit. Variable overhead costs per direct labor hour: indirect materials $0.80; indirect labor $1.30; and maintenance $0.70. Fixed overhead costs per quarter: supervisory salaries $36,580, depreciation $17,620; and maintenance $13,700. Prepare the manufacturing overhead budget for the year, showing quarterly data. (Round overhead rate to 2 decimal...
Candle Corp. applies manufacturing overhead costs to products at a budgeted indirect - cost rate of...
Candle Corp. applies manufacturing overhead costs to products at a budgeted indirect - cost rate of $95 per direct manufacturing labor-hour. A retail outlet has requested a bid on a special order of a necklace. Estimates for this order include: Direct materials of $44,000; 250 direct manufacturing labor - hours at $30 per hour, and a 50% markup rate on total manufacturing costs. The bid price for this special order is O A. $77.250 B. $101,625 c. $60,250 OD. $112,875
The following data was reported by the manager at Cost Less Manufacturing: Actual Total manufacturing overhead...
The following data was reported by the manager at Cost Less Manufacturing: Actual Total manufacturing overhead costs: $2,200,000 Total direct manufacturing labor-hours 32,000 Required: Compute the actual manufacturing overhead rate for the single manufacturing overhead cost pool. $68.75 per direct manufacturing labor-hour $50.25 per direct manufacturing labor-hour $25.62 per direct manufacturing labor-hour $78.62 per direct manufacturing labor-hour $72.50 per direct manufacturing labor-hour
14) Switsdorf Company has the following information available for variable overhead costs. Direct labor hours are...
14) Switsdorf Company has the following information available for variable overhead costs. Direct labor hours are the cost driver for variable overhead costs. Actual variable overhead costs Standard variable overhead costs Actual direct labor hours Standard direct labor hours per unit Units produced $5,120 $3.00 per hour 2,000 hours 3 hours 1,000 What is the variable overhead efficiency variance? A) $2,000 Favorable C) $1,000 Favorable B) $3,000 Favorable D) $2,000 Unfavorable
Montgomery Company has developed the following flexible budget formulas for its four overhead items: Fixed Cost $10,000 $ 1,500 Overhead item Maintenance Power Indirect labor cost Equipment lease Total Variable rate per direct labor hour $ 3.00 $ 0.30 $12.00 $_7,000 $18,500 $15.30 Montgomery normally produces 15,000 units (each unit requires 0.30 direct labor hours); however this year 19,000 units were produced with the following actual costs: Overhead item Maintenance Power Indirect labor cost Equipment lease Total costs Actual costs...
Atlanta Company is preparing its manufacturing overhead budget for 2020. Relevant data consist of the following. Units to be produced (by quarters): 10,100, 12, 100, 14,200, 16,700. Direct labor: Time is 1.5 hours per unit. Variable overhead costs per direct labor hour: indirect materials $0.80; indirect labor $1.20; and maintenance $0.60. Fixed overhead costs per quarter: supervisory salaries $38,890; depreciation $19,570; and maintenance $13,090. Prepare the manufacturing overhead budget for the year, showing quarterly data. (Round overhead rate to 2...
The following costs were incurred by Greetings R Us, a firm manufacturing greetings cards for the last year: Service Department costs (All of the services are provided to manufacturing function) Fringe benefits to Direct laborers in manufacturing function Fringe benefits to Indirect laborers in manufacturing function Fringe benefits for production supervisors Total overtime premiums paid Cost of idle time: Production employees Administrative costs Rental of office space for sales personnel Sales commissions Product promotion costs Direct material Advertising expenses Depreciation...
Atlanta Company is preparing its manufacturing overhead budget for 2020. Relevant data consist of the following Units to be produced (by quarters): 10,400, 12,400, 14,200, 16,600. Direct labor: Time is 1.7 hours per unit. Variable overhead costs per direct labor hour: indirect materials $0.80; indirect labor $1.30; and maintenance $0.70. Fixed overhead costs per quarter: supervisory salaries $36,580, depreciation $17,620; and maintenance $13,700. Prepare the manufacturing overhead budget for the year, showing quarterly data. (Round overhead rate to 2 decimal...
Candle Corp. applies manufacturing overhead costs to products at a budgeted indirect - cost rate of $95 per direct manufacturing labor-hour. A retail outlet has requested a bid on a special order of a necklace. Estimates for this order include: Direct materials of $44,000; 250 direct manufacturing labor - hours at $30 per hour, and a 50% markup rate on total manufacturing costs. The bid price for this special order is O A. $77.250 B. $101,625 c. $60,250 OD. $112,875
14) Switsdorf Company has the following information available for variable overhead costs. Direct labor hours are the cost driver for variable overhead costs. Actual variable overhead costs Standard variable overhead costs Actual direct labor hours Standard direct labor hours per unit Units produced $5,120 $3.00 per hour 2,000 hours 3 hours 1,000 What is the variable overhead efficiency variance? A) $2,000 Favorable C) $1,000 Favorable B) $3,000 Favorable D) $2,000 Unfavorable
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