Concord Company produces one product, a putter called GO-Putter. Concord uses a standard cost system and determines that...
Concord Company produces one product, a putter called GO-Putter. Concord uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 120,000 units per year. The total budgeted overhead at normal capacity is $1,080,000 comprised of $420,000 of variable costs and $660,000 of fixed costs. Concord applies overhead on the basis of direct labor hours. During the current year, Concord produced 75,300 putters, worked 87,600 direct labor hours, and incurred variable overhead costs of $169,425 and fixed overhead costs of $624,700. Compute the predetermined variable overhead rate and the predetermined fixed overhead rate. (Round answers to 2 decimal places, e.g. 2.75.) Variable Fixed Predetermined Overhead Rate $ $ Compute the applied overhead for Concord for the year. Overhead Applied $ Compute the total overhead variance. Total Overhead Variance $
Homework Answers
a. The predetermined variable overhead rate = $420,000 /120,000 = $3.50 per DLH
The predetermined fixed overhead rate = $660,000 /120,000 = $5.50 per DLH
b. Standard Direct Labor for manufacturing 75300 units = 75300*1 = 75300 Hour
The total predetermined overhead rate for the year = 3.50 + 5.50 = $9
The applied total overhead for the year = 75300 * 9 = $677,700
c. Total Overhead Variance = Actual Overhead - Standard Overhead applied
Total Overhead Variance = 169425+624700-677700 = $116,425 Unfavorable
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Concord Company produces one product, a putter called GO-Putter. Concord uses a standard cost system and determines that...
Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and...
Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 120,000 units per year. The total budgeted overhead at normal capacity is $720,000 comprised of $240,000 of variable costs and $480,000 of fixed costs. Byrd applies overhead on the basis of direct labor hours. During the current year, Byrd produced 77,100 putters,...
Novak Company produces one product, a putter called GO-Putter. Novak uses a standard cost system and...
Novak Company produces one product, a putter called GO-Putter.
Novak uses a standard cost system and determines that it should
take one hour of direct labor to produce one GO-Putter. The normal
production capacity for this putter is 110,000 units per year. The
total budgeted overhead at normal capacity is $1,045,000 comprised
of $385,000 of variable costs and $660,000 of fixed costs. Novak
applies overhead on the basis of direct labor hours.
During the current year, Novak produced 74,000 putters,...
Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and...
Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 145,000 units per year. The total budgeted overhead at normal capacity is $942,500 comprised of $290,000 of variable costs and $652,500 of fixed costs. Byrd applies overhead on the basis of direct labor hours. During the current year, Byrd produced 81,600 putters,...
Splish Company produces one product, a putter called GO-Putter. Splish uses a standard cost system and...
Splish Company produces one product, a putter called GO-Putter.
Splish uses a standard cost system and determines that it should
take one hour of direct labor to produce one GO-Putter. The normal
production capacity for this putter is 145,000 units per year. The
total budgeted overhead at normal capacity is $942,500 comprised of
$290,000 of variable costs and $652,500 of fixed costs. Splish
applies overhead on the basis of direct labor hours.
During the current year, Splish produced 81,600 putters,...
Exercise 15-12 Flint Company produces one product, a putter called GO-Putter. Flint uses a standard cost...
Exercise 15-12 Flint Company produces one product, a putter called GO-Putter. Flint uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 125,000 units per year. The total budgeted overhead at normal capacity is $1,062,500 comprised of $437,500 of variable costs and $625,000 of fixed costs. Flint applies overhead on the basis of direct labor hours. During the current year, Flint produced...
Exercise 24-12 Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost...
Exercise 24-12 Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 120,000 units per year. The total budgeted overhead at normal capacity is $840,000 comprised of $360,000 of variable costs and $480,000 of fixed costs. Byrd applies overhead on the basis of direct labor hours. During the current year, Byrd produced...
Exercise 24-12 Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost...
Exercise 24-12 Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter $525,000 of fixed costs. Byrd applies overhead on the basis of direct labor hours. 105,000 units per year. The total budgeted overhead at normal capacity is $945,000 comprised of $420,000 of variable costs and During the current year, Byrd produced 80,100...
Platt Company produces one product, a putter called PAR-putter. Platt uses a standard cost system and...
Platt Company produces one product, a putter called PAR-putter. Platt uses a standard cost system and determines that it should take one hour of direct labor to produce one PAR-putter. Th The total budgeted overhead at normal capacity is $500,000 comprised of $200,000 of variable costs and $300,000 of fixed costs. Platt applies overhead on the basis of direct labor hours. e normal production capacity for this putter is 100,000 units per year. During the current year, Platt produced 85,000...
Exercise 23-12 Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and deter...
Exercise 23-12 Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 115,000 units per year. The total budgeted overhead at normal capacity is $747,500 comprised of $230,000 of variable costs and $517,500 of fixed costs. Byrd applies overhead on the basis of direct labor hours. During the current year, Byrd produced...
Exercise 11-12 (Video) Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard...
Exercise 11-12 (Video) Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 110,000 units per year. The total budgeted overhead at normal capacity is $990,000 comprised of $330,000 of variable costs and $660,000 of fixed costs. Byrd applies overhead on the basis of direct labor hours. During the current year, Byrd...
Novak Company produces one product, a putter called GO-Putter.
Novak uses a standard cost system and determines that it should
take one hour of direct labor to produce one GO-Putter. The normal
production capacity for this putter is 110,000 units per year. The
total budgeted overhead at normal capacity is $1,045,000 comprised
of $385,000 of variable costs and $660,000 of fixed costs. Novak
applies overhead on the basis of direct labor hours.
During the current year, Novak produced 74,000 putters,...
Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 145,000 units per year. The total budgeted overhead at normal capacity is $942,500 comprised of $290,000 of variable costs and $652,500 of fixed costs. Byrd applies overhead on the basis of direct labor hours. During the current year, Byrd produced 81,600 putters,...
Splish Company produces one product, a putter called GO-Putter.
Splish uses a standard cost system and determines that it should
take one hour of direct labor to produce one GO-Putter. The normal
production capacity for this putter is 145,000 units per year. The
total budgeted overhead at normal capacity is $942,500 comprised of
$290,000 of variable costs and $652,500 of fixed costs. Splish
applies overhead on the basis of direct labor hours.
During the current year, Splish produced 81,600 putters,...
Exercise 15-12 Flint Company produces one product, a putter called GO-Putter. Flint uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 125,000 units per year. The total budgeted overhead at normal capacity is $1,062,500 comprised of $437,500 of variable costs and $625,000 of fixed costs. Flint applies overhead on the basis of direct labor hours. During the current year, Flint produced...
Exercise 24-12 Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 120,000 units per year. The total budgeted overhead at normal capacity is $840,000 comprised of $360,000 of variable costs and $480,000 of fixed costs. Byrd applies overhead on the basis of direct labor hours. During the current year, Byrd produced...
Exercise 24-12 Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter $525,000 of fixed costs. Byrd applies overhead on the basis of direct labor hours. 105,000 units per year. The total budgeted overhead at normal capacity is $945,000 comprised of $420,000 of variable costs and During the current year, Byrd produced 80,100...
Platt Company produces one product, a putter called PAR-putter. Platt uses a standard cost system and determines that it should take one hour of direct labor to produce one PAR-putter. Th The total budgeted overhead at normal capacity is $500,000 comprised of $200,000 of variable costs and $300,000 of fixed costs. Platt applies overhead on the basis of direct labor hours. e normal production capacity for this putter is 100,000 units per year. During the current year, Platt produced 85,000...
Exercise 23-12 Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 115,000 units per year. The total budgeted overhead at normal capacity is $747,500 comprised of $230,000 of variable costs and $517,500 of fixed costs. Byrd applies overhead on the basis of direct labor hours. During the current year, Byrd produced...
Exercise 11-12 (Video) Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 110,000 units per year. The total budgeted overhead at normal capacity is $990,000 comprised of $330,000 of variable costs and $660,000 of fixed costs. Byrd applies overhead on the basis of direct labor hours. During the current year, Byrd...
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