Tiara Industries has the following information about its standards and production activity for December: Actual manufacturing...
Tiara Industries has the following information about its standards and production activity for December:
Actual manufacturing overhead cost incurred, $89,000
Variable manufacturing overhead cost @ $ 4.00 per unit produced
Fixed manufacturing overhead cost @$ 1.00 per unit produced ($19,000/19,000 budgeted units) Actual units produced, 5,500 Assume the allocation base for fixed overhead costs is the number of units to be produced. How much are the standard overhead costs allocated to actual production?
a. $76,000
B. $95,000
C. $89,000
D. $ 27,500
Homework Answers
Correct answer--------------------(D) $27,500
Working
| Variable Manufacturing overhead (5500 x 4) | $ 22,000.00 |
| Fixed manufacturing overhead (5500 x 1) | $ 5,500.00 |
| Total standard overhead cost | $ 27,500.00 |
Add Answer to:
Tiara Industries has the following information about its
standards and production activity for December:
Actual manufacturing...
Yummy-Tummy Foods has the following information about its standards and production activity for November Actual manufacturing...
Yummy-Tummy Foods has the following information about its standards and production activity for November Actual manufacturing overhead cost incurred, $89,000 Standard manufacturing overhead: Variable manufacturing overhead cost @ $4.00 per unit produced Fixed manufacturing overhead cost @ $7.30 per unit produced ($80,300/11,000 budgeted units) Actual units produced, 13,000 Assume the allocation base for fixed overhead costs is the number of units to be produced. How much are the standard overhead costs allocated to actual production? O $124,300 O $44,000 O...
The following information was taken from the annual manufacturing overhead cost budget of Waterway Industries. Variable...
The following information was taken from the annual manufacturing overhead cost budget of Waterway Industries. Variable manufacturing overhead costs $52800 Fixed manufacturing overhead costs $26400 Normal production level in labor hours 22000 Normal production level in units 5500 Standard labor hours per unit 4 During the year, 5325 units were produced, 17240 hours were worked, and the actual manufacturing overhead was $78600. Actual fixed manufacturing overhead costs equaled budgeted fixed manufacturing overhead costs. Overhead is applied on the basis of...
Clayton Industries has gathered the following information about the actual sales revenues and expenses for its...
Clayton Industries has gathered the following information about the actual sales revenues and expenses for its pharmaceuticals segment for the most recent year. (Click the icon to view the actual data.) Budgeted data for the same time period for the pharmaceutical segment are as follows (al data is in milions): Click the icon to view the budgeted data.) Prepare a segment margin performance report for the pharmaceutical segment. Calculate a variance and a variance percentage for each line in the...
Marge Manufacturing has the following information available for the month: • Budgeted production is 400,000 units...
Marge Manufacturing has the following information available for
the month: • Budgeted production is 400,000 units and the firm’s
selling price per unit is $25. • Each unit produced is budgeted to
require 2 ounces of material B at a cost of $2 per ounce and 0.25
direct labor hours at a cost of $30 per hour
Instead of just giving an answer, it would be great if
you can explain how to do it/why
b. How many ounces of...
standard of 1.5 direct labor hours por unit. in May actual production was 2.800 units and...
standard of 1.5 direct labor hours por unit. in May actual production was 2.800 units and actual fixed manufacturing overhoad csts were $19,000 What was Nexus fixed manufacturing overhoad budget variance in May? O A $3,330 favorable O B. $6,530 unfavorable O C. $3,330 unfavorable O D. $6,530 favorable uring costs to its was 2,600 units and actual fixed manufacturing overhead costs were $19,000 process. In May, Nexus anticipated producing 2,300 units with fixed overhead costs allocated at $7.40 per...
The following information describes production activities of Mercer Manufacturing for the year 16,000 lbs. at $4.05...
The following information describes production activities of Mercer Manufacturing for the year 16,000 lbs. at $4.05 per lb. 5,545 hours for a total of $105,355 30,000 Actual direct materials used Actual direct labor used Actual units produced Budgeted standards for each unit produced are 0.50 pounds of direct material at $4.00 per pound and 10 minutes of direct labor at $20 per hour (1) Compute the direct materials price and quantity variances. Actual Cost Standard Cost (2) Compute the direct...
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 needs grading. Grade: of 1 ptSubmit Grade Crandell Industries has gathered the following information about...
Question needs grading. Grade: of 1 ptSubmit Grade Crandell Industries has gathered the following information about the actual sales revenues and expenses for its pharmaceuticals segment for the most recent year. Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $828,000 Variable Cost of Goods Sold . . . . . . . . . . ....
Woodland Industries manufactures and sells custom-made windows. Its job costing system was designed using an activity-based...
Woodland Industries manufactures and sells custom-made windows. Its job costing system was designed using an activity-based costing approach. Direct materials and direct labor costs are accumulated separately, along with information concerning three manufacturing overhead cost drivers (activities). Assume that the direct labor rate is $11 per hour and that there were no beginning inventories. The following information was available for 2019, based on an expected production level of 52,500 units for the year, which will require 227,000 direct labor hours:...
Woodland Industries manufactures and sells custom-made windows. Its job costing system was designed using an activity-based...
Woodland Industries manufactures and sells custom-made windows. Its job costing system was designed using an activity-based costing approach. Direct materials and direct labor costs are accumulated separately, along with information concerning three manufacturing overhead cost drivers (activities). Assume that the direct labor rate is $15 per hour and that there were no beginning inventories. The following information was available for 2016, based on an expected production level of 47,900 units for the year, which will require 220,000 direct labor hours:...
Yummy-Tummy Foods has the following information about its standards and production activity for November Actual manufacturing overhead cost incurred, $89,000 Standard manufacturing overhead: Variable manufacturing overhead cost @ $4.00 per unit produced Fixed manufacturing overhead cost @ $7.30 per unit produced ($80,300/11,000 budgeted units) Actual units produced, 13,000 Assume the allocation base for fixed overhead costs is the number of units to be produced. How much are the standard overhead costs allocated to actual production? O $124,300 O $44,000 O...
Clayton Industries has gathered the following information about the actual sales revenues and expenses for its pharmaceuticals segment for the most recent year. (Click the icon to view the actual data.) Budgeted data for the same time period for the pharmaceutical segment are as follows (al data is in milions): Click the icon to view the budgeted data.) Prepare a segment margin performance report for the pharmaceutical segment. Calculate a variance and a variance percentage for each line in the...
Marge Manufacturing has the following information available for
the month: • Budgeted production is 400,000 units and the firm’s
selling price per unit is $25. • Each unit produced is budgeted to
require 2 ounces of material B at a cost of $2 per ounce and 0.25
direct labor hours at a cost of $30 per hour
Instead of just giving an answer, it would be great if
you can explain how to do it/why
b. How many ounces of...
standard of 1.5 direct labor hours por unit. in May actual production was 2.800 units and actual fixed manufacturing overhoad csts were $19,000 What was Nexus fixed manufacturing overhoad budget variance in May? O A $3,330 favorable O B. $6,530 unfavorable O C. $3,330 unfavorable O D. $6,530 favorable uring costs to its was 2,600 units and actual fixed manufacturing overhead costs were $19,000 process. In May, Nexus anticipated producing 2,300 units with fixed overhead costs allocated at $7.40 per...
The following information describes production activities of Mercer Manufacturing for the year 16,000 lbs. at $4.05 per lb. 5,545 hours for a total of $105,355 30,000 Actual direct materials used Actual direct labor used Actual units produced Budgeted standards for each unit produced are 0.50 pounds of direct material at $4.00 per pound and 10 minutes of direct labor at $20 per hour (1) Compute the direct materials price and quantity variances. Actual Cost Standard Cost (2) Compute the direct...
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...
Woodland Industries manufactures and sells custom-made windows. Its job costing system was designed using an activity-based costing approach. Direct materials and direct labor costs are accumulated separately, along with information concerning three manufacturing overhead cost drivers (activities). Assume that the direct labor rate is $11 per hour and that there were no beginning inventories. The following information was available for 2019, based on an expected production level of 52,500 units for the year, which will require 227,000 direct labor hours:...
Most questions answered within 3 hours.
-
a) summarize the challenges facing New Britain today
b) identify some of its strengths
c) suggest...
asked 4 minutes ago -
The Cost of Equity and
Flotation Costs
Messman Manufacturing
will issue common stock to the public...
asked 3 minutes ago -
**86 at 40 not 88. please show how got Tr in calculations thank
you
2) The...
asked 5 minutes ago -
McGlaun Company pays its employees every two weeks. The firm
last paid its employees on September...
asked 19 minutes ago -
You have been gifted a Mogwai as a pet and decide to do a little
online...
asked 23 minutes ago -
given the standard of 200 mg/dl and the absorbance of that
standard is 0.640. What is...
asked 26 minutes ago -
Exercise 8-51 Algo
An accounting professor is notorious for being stingy in giving
out good letter...
asked 34 minutes ago -
month
total distribution cost
level of activity (unit produced)
july
230.000
3500
august
250.000
3750
september...
asked 35 minutes ago -
A smoke detector system uses two devices, A and B. If smoke is
present, the probability...
asked 1 hour ago -
Your division head has assigned another important project to you
and your team. This project is...
asked 48 minutes ago -
Under normal use conditions, the Mean Time To Failure of a
heating coil can be modeled...
asked 1 hour ago -
Consider the probability that fewer than 34 out of 116 CDs will
be defective. Assume the...
asked 1 hour ago