Homework Answers
Requirement a
Predetermined overhead application rate = Standard fixed overhead / Standard machine hours
Predetermined overhead application rate = $33,930/ (0.25 hrs x 39,000 units) = $3.48
Requirement b
Number of machine hours allowed for actual production = Standard machine hour per unit x Actual production
Number of machine hours allowed for actual production = 0.25 hrs x 35,180 = 8,795 hours
Requirement c
Fixed overhead applied to work in process during march = Predetermined overhead application rate x Actual units produced
Fixed overhead applied to work in process during march =$3.48 x 8,795 hours = $30,606.60
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2 Silverstone's production budget for March caled for making 39,000 units of a single product. The...
2 Silverstone's production budget for March called for making 39,000 units of a single product. The...
2 Silverstone's production budget for March called for making 39,000 units of a single product. The firm's production standards allow one-quarter of a machine hour per unit produced. The fixed overhead budget for March was $33,930. Silverstone uses an absorption costing system. Actual activity and costs for March were: 0.5 points Units produced Fixed overhead costs incurred 35,180 37,900 $ 8 01:17:30 Required: a. Calculate the predetermined fixed overhead application rate that would be used in March. (Round your answer...
Radon Corporation manufactured 37,500 units during March. The following foed overhead data pertain to Marche Production...
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Acme Company's production budget for August is 18,000 units and includes the following component unit costs:...
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Radon Corporation manufactured 42,000 grooming kits for horses during March. The following fixed overhead data pertain to March: Actual Static budget Production 42,000 units 39,000 units Machine hours 15,700 hours 15,600 hours fixed overhead costs for March $336,800 $327,600 What is the fixed overhead production-volume variance?
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Waterways Corporation is continuing its budget preparations. Waterways had the following static budget and actual overhead...
Waterways Corporation is continuing its budget preparations. Waterways had the following static budget and actual overhead costs for March. WATERWAYS CORPORATION Manufacturing Overhead Budget (Static) For the Month of March Budgeted production in units 124,000 Budgeted costs Indirect materials $6,200 Indirect labor 13,640 Utilities 12,400 Maintenance 8,680 Salaries 44,700 Depreciation 17,100 Property taxes 3,300 Insurance 1,300 Janitorial 1,400 Total budgeted costs $108,720 WATERWAYS CORPORATION Manufacturing Overhead Costs (Actual) For the Month of March Production in units 125,000 Costs Indirect materials...
Waterways Corporation is continuing its budget preparations. Waterways had the following static budget and actual overhead...
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2 Silverstone's production budget for March called for making 39,000 units of a single product. The firm's production standards allow one-quarter of a machine hour per unit produced. The fixed overhead budget for March was $33,930. Silverstone uses an absorption costing system. Actual activity and costs for March were: 0.5 points Units produced Fixed overhead costs incurred 35,180 37,900 $ 8 01:17:30 Required: a. Calculate the predetermined fixed overhead application rate that would be used in March. (Round your answer...
Radon Corporation manufactured 37,500 units during March. The following foed overhead data pertain to Marche Production Machine-hours Foed overhead costs for March Actual 37,500 units 10,375 hours $233,400 Static Budget 34,000 units 10,200 hours $224,400 What is the fixed overhead production - volume variance? O A. $23,100 unfavorable O B. $9,000 favorable O c. $23,100 favorable OD. $9,000 unfavorable
Acme Company's production budget for August is 18,000 units and includes the following component unit costs: direct materials, $8.0; direct labor, $10.5; variable overhead, $6.4. Budgeted fixed overhead is $37,000. Actual production in August was 19,950 units. Actual unit component costs incurred during August include direct materials, $8.70; direct labor, $9.90; variable overhead, $7.30. Actual fixed overhead was $39,000. The standard fixed overhead application rate per unit consists of $2 per machine hour and each unit is allowed a standard...
Acme Company's production budget for August is 18,000 units and includes the following component unit costs: direct materials. 58.0 direct labor, 510.5, variable overhead, $6.4. Budgeted fixed overhead is $37,000. Actual production in August was 19.950 units. Actual unit component costs incurred during August include direct materials, $8.70; direct labor, $9.90: variable overhead, 5730. Actual fixed overhead was $39.000. The standard variable overhead rate per unit consists of $6.4 per machine hour and each unit is allowed a standard of...
Waterways Corporation is continuing its budget preparations. Waterways had the following static budget and actual overhead costs for March. WATERWAYS CORPORATION Manufacturing Overhead Budget (Static) For the Month of March Budgeted production in units 114,000 Budgeted costs Indirect materials $5.700 Indirect labor 13.680 Utilities 11.400 Maintenance 6,840 Salaries 45,500 Depreciation 15.900 Property taxes 3.000 Insurance 1,100 Janitorial 1.700 Total budgeted costs $104.820 WATERWAYS CORPORATION Manufacturing Overhead Costs (Actual) For the Month of March Production in units 115.000 Costs Indirect materials...
Waterways Corporation is continuing its budget preparations. Waterways had the following static budget and actual overhead costs for March. WATERWAYS CORPORATION Manufacturing Overhead Budget (Static) For the Month of March Budgeted production in units 114,000 Budgeted costs Indirect materials $5.700 Indirect labor 13.680 Utilities 11.400 Maintenance 6,840 Salaries 45,500 Depreciation 15.900 Property taxes 3.000 Insurance 1,100 Janitorial 1.700 Total budgeted costs $104.820 WATERWAYS CORPORATION Manufacturing Overhead Costs (Actual) For the Month of March Production in units 115.000 Costs Indirect materials...
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