Homework Answers
1. Since 588 units were budgeted and planned allocation was 3,
budgeted number of machine hours planned=588*3=1764.
2. Budgeted FMOH= 343980. Planned machine hours=1764. So,
Budgeted FMOH costs per machine hour=343980/1764=195.
3. Static budgeted VMOH 72324
Budgeted VMOH costs per machine hour= 72324/1764=41.
4. Applied VMOH= 79950
Budgeted VMOH costs per machine hour=41
Budgeted number of machine hours allowed for actual
production=79950/41=1950
5. Budgeted number of machine hours allowed for
actual production=1950
Budgeted machine hours per unit=3
Actual number of output units=1950/3=650.
6. Actual number of machine hours used during
2017=1170
Actual number of output units=650
Actual number of machine hours used per processor=1170/650=1.8
Add Answer to:
CIIULIU 8-35 Comprehensive variance analysis. Chef Whiz manufactures premium food processors. The follow- ing are some...
GadgetGadget Whiz manufactures premium food processors. The following are some manufacturing overhead data for GadgetGadget Whiz...
GadgetGadget Whiz manufactures premium food processors. The following are some manufacturing overhead data for GadgetGadget Whiz for the year ended December 31, 20172017: LOADING... (Click the icon to view the overhead data.) Manufacturing Overhead Actual Results Flexible Budget Allocated Amount Variable $61,236 $75,816 $75,816 Fixed 350,225 345,744 376,310 Budgeted number of output units: 882882 Planned allocation rate: 22 machine-hours per unit Actual number of machine-hours used: 1 comma 4581,458 Static-budget variable manufacturing overhead costs: $ 68 comma 796 here are...
x Data Table Actual Results 966 Flexible Budget Static Budget 885 Allocated Amount 1,449 1,932 1,770...
x Data Table Actual Results 966 Flexible Budget Static Budget 885 Allocated Amount 1,449 1,932 1,770 Output units Machine-hours Machine-hours per output unit Variable MOH costs Variable MOH costs per machine-hour Fixed MOH costs Fixed MOH costs per machine-hour 1.50 $ 68,103 $ 85,008 $ $ $ 350,235 $ 341,610 $ 2.00 77,880 $ 85,008 44.00 $ 376,400 193.00 Print Done Chef Whiz manufactures premium food processors. The following are some manufacturing overhead data for Chef Whiz for the year...
A variance analysis question for cost accounting that I am struggling with. I have parts of...
A variance analysis question for cost
accounting that I am struggling with. I have parts of it completed,
but there are some parts that I did not really understand. Could
you please take a look and help me? I really appreciate it! Thank
you very much! You may need to zoom in to see the numbers and
information for this question
Part 1: Calculate direct materials price and efficiency variances. Actual Costs Incurred Flexible Budget Budgeted Input Qt. Alloved for...
Standard machine hours per unit of output 4 hours Standard variable-overhead rate per machine hour 8.00...
Standard machine hours per unit of output 4 hours Standard variable-overhead rate per machine hour 8.00 Actual variable-overhead rate per machine hour Actual machine hours per unit of output Budgeted fixed overhead |Actual fixed overhead Budgeted production in units Actual production in units Variable-overhead spending variance Variable-overhead efficiency variance Fixed-overhead budget variance Fixed-overhead volume variance Total actual overhead Total budgeted overhead (flexible budget) Total budgeted overhead (static budget) Total applied overhead 9.00 3 S 50,000 25,000 24,000 72,000 Unfavorable 192,000...
Practice Exam 3 Cost Accounting XYZ Company manufactures and sells patio chairs. For the year 2016,...
Practice Exam 3 Cost Accounting XYZ Company manufactures and sells patio chairs. For the year 2016, XYZ prepared its master budget on the basis of 4,000 units produced and sold. However, in 2016, because of acute competition in the industry, XYZ was only able to produce and sell 3,000 units. Table 1 provides XYZ Company's static budget and actual results using a contribution margin income statement. Table 1 Flexible-Budget Variances (2) (1)-(3) Sales Volume Variances (4)=(3)-(5) Flexible Budget (3) Actual...
Arca Incorporated makes a single product--a critical part used in commercial airline seats. The company has...
Arca Incorporated makes a single product--a critical part used in commercial airline seats. The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Budgeted (Planned) Overhead: Budgeted variable manufacturing overhead $ 38,700 Budgeted fixed manufacturing overhead 170,700 Total budgeted manufacturing overhead $ 209,400 Budgeted production (a) 20,000 units Standard hours per unit (b) 1.50...
8-38 Overhead variance, missing information. Consider the following two situations—cases A and B independently. Data refer...
8-38 Overhead variance, missing information. Consider the following two situations—cases A and B independently. Data refer to operations for April 2017. For each situation, assume standard costing. Also assume the use of a flexible budget for control of variable and fixed manufacturing overhead based on machine-hours. Cases A B (1) Fixed manufacturing overhead incurred $ 84,920 $23,180 (2) Variable manufacturing overhead incurred $120,400 (3) Denominator level in machine-hours 1,000 (4) Standard machine-hours allowed for actual output achieved 6,200 (5) Fixed...
Oakly Variance Case manufactures a single product, XR2. Oakly uses budgets and standards and control functions....
Oakly Variance Case manufactures a single product, XR2. Oakly uses budgets and standards and control functions. Oakly makes use of its standards in order to budgeted cost per unit. For example, Exhibit A provides information on the budgeted variable costs per unit. When determining direct material costs for the planning (master) budget income statement, the $11.48 budgeted material cost per unit of XR2 would be used in the calculation. Exhibit A Budgeted (Standard) Variable Costs Per Unit of XR2 Raw...
Problem 9A-8 Applying Overhead; Overhead Vorlonces [LO9-6, LO9-7) Lane Company manufactures a single product and applies...
Problem 9A-8 Applying Overhead; Overhead Vorlonces [LO9-6, LO9-7) Lane Company manufactures a single product and applies overhead cost to that product using 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 15 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...
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 $3.20 per direct labor-hour and the budgeted fixed manufacturing overhead is $864,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $6.00 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $12.60 per...
x Data Table Actual Results 966 Flexible Budget Static Budget 885 Allocated Amount 1,449 1,932 1,770 Output units Machine-hours Machine-hours per output unit Variable MOH costs Variable MOH costs per machine-hour Fixed MOH costs Fixed MOH costs per machine-hour 1.50 $ 68,103 $ 85,008 $ $ $ 350,235 $ 341,610 $ 2.00 77,880 $ 85,008 44.00 $ 376,400 193.00 Print Done Chef Whiz manufactures premium food processors. The following are some manufacturing overhead data for Chef Whiz for the year...
A variance analysis question for cost
accounting that I am struggling with. I have parts of it completed,
but there are some parts that I did not really understand. Could
you please take a look and help me? I really appreciate it! Thank
you very much! You may need to zoom in to see the numbers and
information for this question
Part 1: Calculate direct materials price and efficiency variances. Actual Costs Incurred Flexible Budget Budgeted Input Qt. Alloved for...
Standard machine hours per unit of output 4 hours Standard variable-overhead rate per machine hour 8.00 Actual variable-overhead rate per machine hour Actual machine hours per unit of output Budgeted fixed overhead |Actual fixed overhead Budgeted production in units Actual production in units Variable-overhead spending variance Variable-overhead efficiency variance Fixed-overhead budget variance Fixed-overhead volume variance Total actual overhead Total budgeted overhead (flexible budget) Total budgeted overhead (static budget) Total applied overhead 9.00 3 S 50,000 25,000 24,000 72,000 Unfavorable 192,000...
Practice Exam 3 Cost Accounting XYZ Company manufactures and sells patio chairs. For the year 2016, XYZ prepared its master budget on the basis of 4,000 units produced and sold. However, in 2016, because of acute competition in the industry, XYZ was only able to produce and sell 3,000 units. Table 1 provides XYZ Company's static budget and actual results using a contribution margin income statement. Table 1 Flexible-Budget Variances (2) (1)-(3) Sales Volume Variances (4)=(3)-(5) Flexible Budget (3) Actual...
8-38 Overhead variance, missing information. Consider the following two situations—cases A and B independently. Data refer to operations for April 2017. For each situation, assume standard costing. Also assume the use of a flexible budget for control of variable and fixed manufacturing overhead based on machine-hours. Cases A B (1) Fixed manufacturing overhead incurred $ 84,920 $23,180 (2) Variable manufacturing overhead incurred $120,400 (3) Denominator level in machine-hours 1,000 (4) Standard machine-hours allowed for actual output achieved 6,200 (5) Fixed...
Oakly Variance Case manufactures a single product, XR2. Oakly uses budgets and standards and control functions. Oakly makes use of its standards in order to budgeted cost per unit. For example, Exhibit A provides information on the budgeted variable costs per unit. When determining direct material costs for the planning (master) budget income statement, the $11.48 budgeted material cost per unit of XR2 would be used in the calculation. Exhibit A Budgeted (Standard) Variable Costs Per Unit of XR2 Raw...
Problem 9A-8 Applying Overhead; Overhead Vorlonces [LO9-6, LO9-7) Lane Company manufactures a single product and applies overhead cost to that product using 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 15 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 $3.20 per direct labor-hour and the budgeted fixed manufacturing overhead is $864,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $6.00 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $12.60 per...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 10 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 10 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 10 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 10 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 10 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 10 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 10 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 10 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 10 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 10 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 10 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 10 months ago