For each of the following independent Cases A and B, fill in the missing information. The company
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For each of the following independent Cases A and B, fill in the missing information. The company budgets and applies production overhead costs on the basis of direct-labor hours. (U denotes unfavorable variance; F denotes favorable variance.)
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Case A S2.50 per hour per hour ?per hour ?per hour $90,000 210J00 Case B 1. Standard variable-overhead rate 2. Standard fixed-overhead rate 3. Total standard overhead rate 4. Flexible budget for variable overhead 5. Flexible budget for fixed overhead 6. Actual variable overhead 7. Actual fixed overhead 8. Variable-overhead spending variance 9. Variable-overhead efficiency variance 10. Fixed-overhead budget variance 11. Fixed-overhead volume variance 12. Under-(or over- applied variable overhead 13. Under-(or over- applied fixed overhead 14. Budgeted production (in units) 15. Standard direct-labor hours per unit 16. Actual production (in units) 17. Standard direct-labor hours allowed, given actual production 8. Actual direct-labor hours 19. Applied variable overhead 20. Applied fixed overhead ? per hour $13.00 per hour 207,000 $5,550 U $2,000 U $400 F $1,080 U $3,600 U 5,000 units hours per unit 2 hours per unit 36,000 hours 1,600 hours 7,000 hours 1,500 hours
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Missing amounts for case A 2 700a per hour 3 950b per hour 6 98050 c 9 2500 U d 10 3000 F e 11 42000 Negative f The negative sign means that applied fixed overhead exceeded budgeted fixed overhead 12 ...View the full answer
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Related Book For
Managerial Accounting Creating Value in a Dynamic Business Environment
ISBN: 978-1259569562
11th edition
Authors: Ronald W. Hilton
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