1) | |||||||||
predetermined overhead rate | 9.2 | ||||||||
variable rate | 2.6 | ||||||||
fixed rate (495000/75000) | 6.6 | ||||||||
2) | |||||||||
Direct materials | 4 | pounds at | 4.5 | per pound | 18 | ||||
Direct labor | 1.5 | DLH'S | 12.3 | per DLH | 18.45 | ||||
Variable overhead | 1.5 | DLH'S at | 2.6 | per DLH | 3.9 | ||||
Fixed overhead | 1.5 | DLH'Sat | 6.6 | per DLH | 9.9 | ||||
Standard cost per unit | 50.25 | ||||||||
3) | |||||||||
Standard direct labor hours allowed for the years production= | |||||||||
Actual units produced *Direct labor hr per unit | |||||||||
60000*1.5 | |||||||||
90000 | |||||||||
3b) | |||||||||
Manufacturing overhead T-Account | |||||||||
Actual costs | 702000 | Applied costs (90000*9.2) | 828000 | ||||||
overhead overapplied | 126000 | ||||||||
4) | |||||||||
Variable overhead rate variance = (AR- Std rate)*AH | |||||||||
=(165,750 -97500*2.6) | |||||||||
87750 | F | ||||||||
Variable overhead efficiency variance = (AH-SH)*SR | |||||||||
= | (97500-90000)*2.6 | ||||||||
19500 | U | ||||||||
Fixed overhead budget variance = actual overhead - budgeted oveerhead | |||||||||
536250-495000 | |||||||||
41250 | U | ||||||||
fixed overhead volume variance= actual output*fixed overhead rate per unit-budgeted overhead | |||||||||
60000*6.6-495000 | |||||||||
99,000 | F | ||||||||
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted varlable manufacturing over...
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted variable manufacturing overhead is $5.40 per direct labor-hour and the budgeted fixed manufacturing overhead is $2,679,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $11.50 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $13.70 per...
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted variable manufacturing overhead is $5.60 per direct labor-hour and the budgeted fixed manufacturing overhead is $2,880,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $12.00 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $13.80 per...
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted variable manufacturing overhead is $5.00 per direct labor-hour and the budgeted fixed manufacturing overhead is $2,295,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $10.50 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $13.50 per...
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted variable manufacturing overhead is $2.20 per direct labor-hour and the budgeted fixed Emanufacturing overhead is $279,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $3.50 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $12.10 per...
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted variable manufacturing overhead is $5.40 per direct labor-hour and the budgeted fixed manufacturing overhead is $2.679,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $11.50 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $13.70 per...
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted variable manufacturing overhead is $4.40 per direct labor-hour and the budgeted fixed manufacturing overhead is $1,764,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $9.00 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $13.20 per...
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Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted variable manufacturing overhead is $2.60 per direct labor-hour and the budgeted fixed manufacturing overhead is $495,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $4.50 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $12.30 per...
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted variable manufacturing overhead is $5.60 per direct labor-hour and the budgeted fixed manufacturing overhead is $2,880,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $12.00 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $13.80 per...
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted variable manufacturing overhead is $5.00 per direct labor-hour and the budgeted fixed manufacturing overhead is $2,295,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $10.50 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $13.50 per...