Answered: Static budget variable overhead $7,800…

Name: Computing standard overhead allocation ratesThe following information
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Description: Computing standard overhead allocation ratesThe following information relates to Morgan, Inc.’s overhead costs for the month:Morgan allocates manufacturing overhead to production based on standard direct labor hours. Compute the standard variable ove

Business

Accounting

Static budget variable overhead $7,800 $3,900 Static budget fixed overhead Static budget direct labor hours 1,300 hours 5,200 units Static budget number of units

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter9: Profit Planning And Flexible Budgets

Section: Chapter Questions

Problem 33BEA: Flexible Budget with Different Levels of Production Bowling Company budgeted the following amounts:...

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Flexible Budget with Different Levels of Production Bowling Company budgeted the following amounts: Required: Prepare a flexible budget for 2,500 units, 3,000 units, and 3,500 units.
Requirements 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. Explain why the variances are favorable or unfavorable. 2. Requirement 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, foxed overhead cost variance, and foxed overhead volume variance. Begin by selecting the formulas needed to compute the variable overhead (VOH) and fioxed overhead (FOH) variances, and then compute each variance amount. Actual overhead - (Actual hours x Standard price) (Actual hours - Standard hours allowed) x Standard price Actual overhead - Budgeted overhead Budgeted overhead - Allocated overhead = VOH cost variance %3D Data Table = VOH efficiency variance %3D |= FOH cost variance = FOH volume variance
Static budget variable overhead $7,500 Static budget fixed overhead $3,000 Static budget direct labor hours 1,500 hours Static budget number of units 7,500 units Longman allocates manufacturing overhead to production based on standard direct labor hours. Last month, Longman reported the following actual results: actual variable overhead, $10,200; actual fixed overhead, $2,820; actual production of 6,900 units at 0.25 direct labor hours per unit. The standard direct labor time is 0.2 direct labor hours per unit (1,500 static direct labor hours / 7,500 static units). 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. 2. Explain why the variances are favorable or unfavorable.
Static budget variable overhead $8,000 Static budget fixed overhead $3,200 Static budget direct labor hours 1,600 hours Static budget number of units 4,000 units Jackson allocates manufacturing overhead to production based on standard direct labor hours. Last month, Jackson reported the following actual results: actual variable overhead, $10,700; actual fixed overhead, $2,810; actual production of 7,400 units at 0.20 direct labor hours per unit. The standard direct labor time is 0.4 direct labor hours per unit (1,600 static direct labor hours / 4,000 static units). Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance.
Budgeted overheads $690,480 Budgeted machine hours 15,344 Actual machine hours 14,128 Actual overheads $679,550 Based on the data above, what is the machine hour absorption rate (to the nearest $)?
Budgeted overhead £100,000 Actual overhead £90,000 Budgeted labour hours 20,000 Actual labour hours 21,000 Calculate the amount of under/over recovery of overheads. A Over absorption £15,000 B Over absorption £5,000 C Under absorption £15,000 D Under absorption £5,000
Budgeted overheads $690,480 Budgeted machine hours 15,344 Actual machine hours 14,128 Actual overheads $679,550 Based on the data above, what is the machine hour absorption rate (to the nearest $)? A 44 per machine hour B 45 per machine hour C 48 per machine hour D 49 per machine hour
Flexible Budget for Various Levels of Production Budgeted amounts for the year: Materials Labor VOH FOH 2 leather strips @ $7.00 1.5 hr. $18.00 1.5 hr. @ $1.20 $6,800 Required: 1. Prepare a flexible budget for 3,500, 4,000, and 4,500 units. Flexible Budget Direct materials Direct labor Variable overhead Fixed overhead Total Variable Cost per Unit 3,500 units $ 4,000 units 4,500 units 5 2. CONCEPTUAL CONNECTION Calculate the unit cost at 3,500, 4,000, and 4,500 units. (Note: Round unit costs to the nearest cent.)
AirPro Corporation reports the following for this period. Actual total overhead $ 28,575 Standard overhead applied $ 32,860 Budgeted (flexible) variable overhead rate $ 2.10 per unit Budgeted fixed overhead $ 12,900 Predicted activity level 12,900 units Actual activity level 10,600 units
Question Content Area Given the following information, determine the activity rate for setups. Activity Total Activity-Base Usage Budgeted Activity Cost Setups 10,100 $63,200 Inspections 24,100 $137,300 Assembly (dlh) 72,000 $400,600
Budgeted overhead cost = $82,000 Underapplied overhead = $6,860 Budgeted activity = 5,000 hours Actual overhead cost = $70,000 Determine the actual activity: _______________ hours