Jenner, Inc. and Kardash, Inc. are two companies in the same industry. Both companies estimate total...
Jenner, Inc. and Kardash, Inc. are two companies in the same industry. Both companies estimate total fixed and variable overhead costs based on direct labor hours.
Required
a. Assumer that Jenner, Inc. estimated its total overhead at $400,000, the variable overhead per direct labor hour at $8, and the activity level at 30,000 direct labor hours. Determine fixed overhead.
b. Assume that Kardash, Inc. uses a predetermined overhead rate of $15, based on 40,000 direct labor hours. The predetermined variable overhead rate is $12 per direct labor hour. Determine the budgeted variable overhead and the budgeted fixed overhead.
Show all work.
Homework Answers
A)
Total OH = 400,000
variable overhead per direct labor = 8
the activity level at 30,000 direct labor hours
Therefore total variable OH = 8x30,000
= 240,000
Total OH = Fixed OH + variable OH
400,000 = F OH + 240,000
Therefore
Fixed OH = 400,000- 240,000
= 160,000
B)
Predetermined overhead rate =15
Budgeted direct lobour hour = 40,000
Predetermined variable overhead rate is =12 / direct labor hour
Therefore
budgeted total variable OH = 12 x 40,000
= 480,000
Bugted total fixed OH = (15-12) x 40,000
= 3 x 40,000
= 120,000
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