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In addition to other costs, Zachary Telephone Company planned to incur $420,070 of fixed manufacturing overhead...
In addition to other costs, Thornton Telephone Company planned to incur $465,500 of fixed manufacturing overhead...
In addition to other costs, Thornton Telephone Company planned to incur $465,500 of fixed manufacturing overhead in making 350,000 telephones. Thornton actually produced 358,000 telephones, incurring actual overhead costs of $457,500. Thornton establishes its predetermined overhead rate based on the planned volume of production (expected number of telephones). Required: a. Calculate the predetermined overhead rate. (Round your answer to 2 decimal places.) b. Determine the fixed cost spending variance and indicate whether it is favorable (F) or unfavorable (U). (Select...
The following data were drawn from the records of Campbell Corporation. Planned volume for year (static...
The following data were drawn from the records of Campbell Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 4,300 units 3.30 pounds @ $1.10 per pound 4.00 hours @ $3.20 per hour $17,200 4,700 units 2.90 pounds @ $1.60 per...
Zachary Publications established the following standard price and costs for a hardcover picture book that the...
Zachary Publications established the following standard price and costs for a hardcover picture book that the company produces. $ Standard price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative 36.30 8.10 3.50 6.20 7.10 $ 130,000 52,000 Assume that Zachary actually produced and sold 25,000 books. The actual sales price and costs incurred follow: $ Actual price and variable costs Sales price Materials...
The following data were drawn from the records of Solomon Corporation. Planned volume for year (static...
The following data were drawn from the records of Solomon Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 4,100 units 4.00 pounds @ $1.60 per pound 2.10 hours @ $5.00 per hour $ 18,450 4,500 units 3.60 pounds @ $2.00...
Use the following information of Alfred Industries. Standard manufacturing overhead based on normal monthly volume: Fixed...
Use the following information of Alfred Industries. Standard manufacturing overhead based on normal monthly volume: Fixed ($303,900 ÷ 20,000 units) $ 15.20 Variable ($100,000 ÷ 20,000 units) 5.00 $ 20.20 Units actually produced in current month 18,000 units Actual overhead costs incurred (including $300,000 fixed) $ 383,800 Compute the overhead spending variance and the volume variance. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).) Overhead spending...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 4 kg at $9.00 per kg $ 36.00 Direct labour: 3 hours at $12 per hour 36.00 Variable overhead: 3 hours at $8 per hour 24.00 Total standard cost per unit $ 96.00 The company planned to produce and sell 28,000 units in March. However, during March the company actually produced and...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 5 kg at $8.00 per kg $ 40.00 Direct labour: 4 hours at $15 per hour 60.00 Variable overhead: 4 hours at $5 per hour 20.00 Total standard cost per unit $ 120.00 The company planned to produce and sell 21,000 units in March. However, during March the company actually produced and...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct...
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours, and its standard costs per unit are as follows: Direct materials: 5 kg at $10.00 per kg $ 50.00 Direct labour: 3 hours at $14 per hour 42.00 Variable overhead: 3 hours at $4 per hour 12.00 Total standard cost per unit $ 104.00 The company planned to produce and sell 29,000 units in March. However, during March the company actually produced and...
The following data were drawn from the records of Perez Corporation. Planned volume for year (static budget) Standard d...
The following data were drawn from the records of Perez Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 3,400 units 3.50 pounds @ $1.50 per pound 2.30 hours @ $3.30 per hour $14,620 3,900 units 3.10 pounds @ $2.00 per...
Willow Inc. has provided the following information: Standards: Direct materials Direct labor Variable overhead Fixed overhead...
Willow Inc. has provided the following information: Standards: Direct materials Direct labor Variable overhead Fixed overhead Total Per unit 10 lbs @ $2.90/lb $ 29.00 2 hours @ $17.50/hour 35.00 2 hours @ $11/hour 22.00 25.00 $111.00 Budgeted production = 7,300 units 75,050 lbs 14,100 actual hours Actual results Materials Direct labor Variable overhead Fixed overhead Units produced $216,015 $236,815 $ 161,570 $179,860 7,500 units a. Calculate the direct materials price variance. (Do not round your intermediate calculations. Indicate the...
In addition to other costs, Thornton Telephone Company planned to incur $465,500 of fixed manufacturing overhead in making 350,000 telephones. Thornton actually produced 358,000 telephones, incurring actual overhead costs of $457,500. Thornton establishes its predetermined overhead rate based on the planned volume of production (expected number of telephones). Required: a. Calculate the predetermined overhead rate. (Round your answer to 2 decimal places.) b. Determine the fixed cost spending variance and indicate whether it is favorable (F) or unfavorable (U). (Select...
The following data were drawn from the records of Campbell Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 4,300 units 3.30 pounds @ $1.10 per pound 4.00 hours @ $3.20 per hour $17,200 4,700 units 2.90 pounds @ $1.60 per...
Zachary Publications established the following standard price and costs for a hardcover picture book that the company produces. $ Standard price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative 36.30 8.10 3.50 6.20 7.10 $ 130,000 52,000 Assume that Zachary actually produced and sold 25,000 books. The actual sales price and costs incurred follow: $ Actual price and variable costs Sales price Materials...
The following data were drawn from the records of Solomon Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 4,100 units 4.00 pounds @ $1.60 per pound 2.10 hours @ $5.00 per hour $ 18,450 4,500 units 3.60 pounds @ $2.00...
The following data were drawn from the records of Perez Corporation. Planned volume for year (static budget) Standard direct materials cost per unit Standard direct labor cost per unit Total expected fixed overhead costs Actual volume for the year (flexible budget) Actual direct materials cost per unit Actual direct labor cost per unit Total actual fixed overhead costs 3,400 units 3.50 pounds @ $1.50 per pound 2.30 hours @ $3.30 per hour $14,620 3,900 units 3.10 pounds @ $2.00 per...
Willow Inc. has provided the following information: Standards: Direct materials Direct labor Variable overhead Fixed overhead Total Per unit 10 lbs @ $2.90/lb $ 29.00 2 hours @ $17.50/hour 35.00 2 hours @ $11/hour 22.00 25.00 $111.00 Budgeted production = 7,300 units 75,050 lbs 14,100 actual hours Actual results Materials Direct labor Variable overhead Fixed overhead Units produced $216,015 $236,815 $ 161,570 $179,860 7,500 units a. Calculate the direct materials price variance. (Do not round your intermediate calculations. Indicate the...
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