Question: if possible please answer the question in the same format as given in the excel (use the same vocabulary and order of the excel and

if possible please answer the question in the same format as given in the excel (use the same vocabulary and order of the excel and format, answer the gray shaded cells) thankyou  if possible please answer the question in the same format as
given in the excel (use the same vocabulary and order of the
excel and format, answer the gray shaded cells) thankyou Plimpton Company produces

Plimpton Company produces countertop ovens. Plimpton uses a standard costing system. The standard costing system relies on direct labor hours to assign overhead costs to production. The direct labor standard indicates that two direct labor hours should be used for every oven produced. The normal production volume is 100,000 units. The budgeted overhead for the coming year is as follows: Fixed overhead $770,000 Variable 444,000 * overhead Plimpton applies overhead on the basis of direct labor hours. During the year, Plimpton produced 97,000 units, worked 196,000 direct labor hours, and incurred actual fixed overhead costs of $780,000 and actual variable overhead costs of $435,600. Overhead Rates Standard fixed overhead rate = Budgeted fixed overhead Projected volume x Hours per unit per DLH Standard variable overhead rate = Budgeted variable overhead Projected volume x Hours per unit per DLH Applied Overhead Applied fixed overhead Units produced DLR/unit Fixed OH rate X = Applied variable overhead = Units produced DLR/unit Var OH rate Total fixed overhead variance = Actual fixed OH Applied fixed OH Total variable overhead variance Actual variable OH Applied variable OH Fixed Overhead Variances: Actual Fixed Overhead DH X SFOR SH X SFOR Spending Volume Variable Overhead Variances: Actual Variable Overhead AH X SVOR SH X SVOR Spending Efficiency Three-Variance Analysis Volume variance: Variable OH efficiency variance: Spending variance: Journal Entries Debit Credit | 1

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

\f