Question: for the T char please pick a label from the 3 names listed. this applies to the first 3 rows in the first column (the
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted variable manufacturing overhead is $3.80 per direct labor-hour and the budgeted fixed manufacturing overhead is $1,287,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $7.50 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $12.90 per hour The company planned to operate at a denominator activity level of 165,000 direct labor-hours and to produce 110,000 units of product during the most recent year. Actual activity and costs for the year were as follows: Actual number of units produced 132,000 214,500 $ 493,350 Actual direct labor-hours worked Actual variable manufacturing overhead cost incurred Actual fixed manufacturing overhead cost incurred $1,320,000 3b. Complete the following Manufacturing Overhead T-account for the year. Req 3B Complete the following Manufacturing Overhead T-account for the year. Manufacturing Overhead danntn Actual costs Applied costs Req 3A Req 4 Standard costs
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