Chelsea Fabricating applies variable overhead to products on the basis of standard direct labor hours. Presented is
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Question:
Chelsea Fabricating applies variable overhead to products on the basis of standard direct labor hours. Presented is selected information for last month when 10,000 units were produced.
Required
Solve for items "a" through "h."
Direct labor | Variable overhead | |||
---|---|---|---|---|
Actual | 230400 (WRONG)?? | 93600 (WRONG)?? | ||
Standard hours/unit | .25 | .25 | ||
Actual hours (total) | 6,400 | 6,400 | ||
Standard rate/hour | $36.00 | $24.00 | ||
Actual rate | $37.80 | |||
Flexible budget | $90,000 | $60,000 | ||
Labor rate or variable overhead spending variance | 11520 | AnswerUF | 94200 (WRONG)??) | AnswerUF |
Efficiency variances | Answer | AnswerUF | ??? | AnswerUF |
Total flexible budget variance | Answer | AnswerUF | $3,500 | F |
Related Book For
Managerial Accounting Tools for business decision making
ISBN: 978-1118096895
6th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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