Question: Reagan Products Ltd an Australian company has the following cost

Reagan Products Ltd., an Australian company, has the following cost formulas (expressed in Australian dollars) for variable overhead costs in one of its machine shops:
The flexible budget amounts for fixed overhead costs in July are as follows:
During July, the machine shop was scheduled to work 5,600 machine-hours and to produce 28,000 units of product. The standard machine time per unit of product is 0.2 hours. A severe storm during the month forced the company to close for several days, which reduced the level of output for the month. Actual results for July were as follows:
Actual machine-hours worked . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,700
Actual number of units produced . . . . . . . . . . . . . . . . . . . . . . . . . 24,500
Actual costs for July were as follows:
Required:
Prepare an overhead performance report including both variable and fixed overhead for the machine shop for July. Use column headings in your report as shown below:

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  • CreatedJuly 08, 2015
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