Homework Answers
| Budgeted overhead costs at actual volume: | ||
| Variable | 48000 | =39000/13000*16000 |
| Fixed | 186000 | |
| Total | 234000 | |
| Actual overhead costs | 232600 | |
| Less: Budgeted overhead costs at actual volume | 234000 | |
| Difference between actual and budgeted costs | 1400 | Favorable |
| Option C $1400 favorable is correct |
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Sheffield Corp. uses flexible budgets. At normal capacity of 13000 units, budgeted manufacturing overheatis: 11000 variable...
Question 1 (1 point) Sydney, Inc. uses flexible budgets. At normal capacity of 16,000 units, budgeted...
Question 1 (1 point) Sydney, Inc. uses flexible budgets. At normal capacity of 16,000 units, budgeted manufacturing overhead is $128,000 variable and $360,000 fixed. If Sydney had actual overhead costs of $500,000 for 18,000 units produced, what is the difference between actual and budgeted costs? a) $16,000 favorable b) $4,000 unfavorable c) $12,000 unfavorable TY d) $4,000 favorable
1) Marigold Corp. uses flexible budgets. At normal capacity of 15,000 units, budgeted manufacturing overhead is...
1) Marigold Corp. uses flexible budgets. At normal capacity of 15,000 units, budgeted manufacturing overhead is $120000 variable and 360000 fixed. If Marigold had actual overhead costs of $504000 for 20000 units produced, what is the difference between actual and budgeted costs? A.16,000 F B.40,000 F C. 24,000 U D. 16,000 U 2) accompanies past experience indicates that 60% of its credit sales are collected the month of sale, 30% in the next month, and 5% in the second month...
The normal capacity in your company is of 8,000 units, budgeted manufacturing overhead is: SR48,000 variable...
The normal capacity in your company is of 8,000 units, budgeted manufacturing overhead is: SR48,000 variable and SR135,000 fixed. If the company had actual overhead costs of SR187,500 for 9,000 units produced, the difference between actual and budgeted costs is SR4,500 unfavorable and requires corrective actions. Opinion Justification
Question 3 (2 points) When budgeted and actual results are not the same amount, there is...
Question 3 (2 points) When budgeted and actual results are not the same amount, there is a budget Question 13 (3 points) Stone Industries uses flexible budgets. At normal capacity of 8,000 units, budgeted manufacturing overhead is $64,000 variable and $180,000 fixed. If Stone had actual manufacturing overhead costs of $250,000 for 9,000 units produced, what is the difference between actual and budgeted costs? A) $2,000 favorable B) $8,000 favorable C) $2,000 unfavorable D) $6,000 unfavorable
Exercise 25-04 a-b Sheffield Company uses a flexible budget for manufacturing overhead based on direct labor...
Exercise 25-04 a-b Sheffield Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor $1.30 Indirect materials 0.80 Utilities 0.30 Fixed overhead costs per month are Supervision $4,300, Depreciation $2,000, and Property Taxes $600. The company believes it will normally operate in a range of 6,100–10,000 direct labor hours per month. Assume that in July 2020, Sheffield Company incurs the following manufacturing overhead costs....
at normal capacity of 6000 units, budget manufacturing overhead is $18,000 vatiable and $270,000 fixed. if...
at normal capacity of 6000 units, budget manufacturing overhead is $18,000 vatiable and $270,000 fixed. if crane company had actual overheaf costs of $292,400 for 8,000 units produced ehat is the difference between actual and budget costs? 1. 6400 favorable 2. 1600 favorable 3. 1600 unfavorable 4. 4800 unfavorable
Lancelot Corporation manufactures tennis gear and uses budgeted machine - hours to allocate variable manufacturing over...
Lancelot Corporation manufactures tennis gear and uses budgeted machine - hours to allocate variable manufacturing overhead. The following information relates to the company's manufacturing overhead data: Budgeted output units Budgeted machine - hours Budgeted variable manufacturing overhead costs for 3,000 units 3,000 units 15,000 hours $172,500 Actual output units produced Actual machine - hours used Actual variable manufacturing overhead costs 3,250 units 14,500 hours $230,000 What is the flexible - budget variance for variable manufacturing overhead? O A. $43,125 favorable...
In the Assembly Department of Sheffield Company, budgeted and actual manufacturing overhead costs for the month...
In the Assembly Department of Sheffield Company, budgeted and
actual manufacturing overhead costs for the month of April 2020
were as follows.
Budget
Actual
Indirect materials
$15,900
$15,100
Indirect labor
19,800
20,400
Utilities
11,200
11,800
Supervision
4,400
4,400
All costs are controllable by the department manager.
Prepare a responsibility report for April for the cost
center.
SHEFFIELD COMPANY
Assembly Department
Manufacturing Overhead Cost Responsibility Report
For the Month Ended April 30, 2020
Difference
Controllable Cost
Budget
Actual
Favorable
Unfavorable
Neither...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor $1.10 Indirect materials 0.80 Utilities 0.40 Fixed overhead costs per month are Supervision $4,000, Depreciation $1,300, and Property Taxes $800. The company believes it will normally operate in a range of 7,600–10,600 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Variable Costs Fixed...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor $1.00 Indirect materials 0.70 Utilities 0.40 Fixed overhead costs per month are Supervision $4,200, Depreciation $1,800, and Property Taxes $600. The company believes it will normally operate in a range of 7,000–13,000 direct labor hours per month. Assume that in July 2017, Myers Company incurs the following manufacturing overhead costs. Variable Costs Fixed...
Question 1 (1 point) Sydney, Inc. uses flexible budgets. At normal capacity of 16,000 units, budgeted manufacturing overhead is $128,000 variable and $360,000 fixed. If Sydney had actual overhead costs of $500,000 for 18,000 units produced, what is the difference between actual and budgeted costs? a) $16,000 favorable b) $4,000 unfavorable c) $12,000 unfavorable TY d) $4,000 favorable
Question 3 (2 points) When budgeted and actual results are not the same amount, there is a budget Question 13 (3 points) Stone Industries uses flexible budgets. At normal capacity of 8,000 units, budgeted manufacturing overhead is $64,000 variable and $180,000 fixed. If Stone had actual manufacturing overhead costs of $250,000 for 9,000 units produced, what is the difference between actual and budgeted costs? A) $2,000 favorable B) $8,000 favorable C) $2,000 unfavorable D) $6,000 unfavorable
Lancelot Corporation manufactures tennis gear and uses budgeted machine - hours to allocate variable manufacturing overhead. The following information relates to the company's manufacturing overhead data: Budgeted output units Budgeted machine - hours Budgeted variable manufacturing overhead costs for 3,000 units 3,000 units 15,000 hours $172,500 Actual output units produced Actual machine - hours used Actual variable manufacturing overhead costs 3,250 units 14,500 hours $230,000 What is the flexible - budget variance for variable manufacturing overhead? O A. $43,125 favorable...
In the Assembly Department of Sheffield Company, budgeted and
actual manufacturing overhead costs for the month of April 2020
were as follows.
Budget
Actual
Indirect materials
$15,900
$15,100
Indirect labor
19,800
20,400
Utilities
11,200
11,800
Supervision
4,400
4,400
All costs are controllable by the department manager.
Prepare a responsibility report for April for the cost
center.
SHEFFIELD COMPANY
Assembly Department
Manufacturing Overhead Cost Responsibility Report
For the Month Ended April 30, 2020
Difference
Controllable Cost
Budget
Actual
Favorable
Unfavorable
Neither...
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