Problem 21-4B Computing materials, labor, and overhead variances P3 P4 Kryll Company set the following standard...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Problem 21-4B Computing materials, labor, and overhead variances P3 P4 Kryll Company set the following standard costs per unit for its single product. Direct materials (25 lbs. @ $4 per lb.)... Direct labor (6 hrs. @ $8 per hr.). Variable overhead (6 hrs. @ $5 per hr.).. Fixed overhead (6 hrs. @ $7 per hr.). Standard cost per unit. $100 48 30 42 $220 Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 60,000 units per quarter. The following additional information is available. Capacity Level 70% Production (in units) ... 42,000 units Standard direct labor hours (6 DLH/unit) ... 252,000 hrs. Budgeted overhead (flexible budget) 80% 48,000 units 288,000 hrs. 90% 54,000 units 324,000 hrs. Fixed overhead Variable overhead $2,016,000 $2,016,000 $2,016,000 $1,260,000 $1,440,000 $1,620,000 During the current quarter, the company operated at 70% of capacity and produced 42,000 units; direct labor hours worked were 250,000. Units produced were assigned the following standard costs. Actual costs incurred during the current quarter follow. Direct materials (1,050,000 lbs. @ $4 per lb.) Direct labor (252,000 hrs. @ $8 per hr.). Overhead (252,000 hrs. @ $12 per hr.) Standard (budgeted) cost.. $4,200,000 2,016,000 3,024,000 $9,240,000 Problem 21-4B Computing materials, labor, and overhead variances P3 P4 Kryll Company set the following standard costs per unit for its single product. Direct materials (25 lbs. @ $4 per lb.)... Direct labor (6 hrs. @ $8 per hr.). Variable overhead (6 hrs. @ $5 per hr.).. Fixed overhead (6 hrs. @ $7 per hr.). Standard cost per unit. $100 48 30 42 $220 Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 60,000 units per quarter. The following additional information is available. Capacity Level 70% Production (in units) ... 42,000 units Standard direct labor hours (6 DLH/unit) ... 252,000 hrs. Budgeted overhead (flexible budget) 80% 48,000 units 288,000 hrs. 90% 54,000 units 324,000 hrs. Fixed overhead Variable overhead $2,016,000 $2,016,000 $2,016,000 $1,260,000 $1,440,000 $1,620,000 During the current quarter, the company operated at 70% of capacity and produced 42,000 units; direct labor hours worked were 250,000. Units produced were assigned the following standard costs. Actual costs incurred during the current quarter follow. Direct materials (1,050,000 lbs. @ $4 per lb.) Direct labor (252,000 hrs. @ $8 per hr.). Overhead (252,000 hrs. @ $12 per hr.) Standard (budgeted) cost.. $4,200,000 2,016,000 3,024,000 $9,240,000
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Explain the benefits of graphs over tables in presenting data.
-
As the cost accounting manager at McKinley Industries (MI), you are responsible for compiling and reporting various performance measures to the senior managers. MI instituted many efficiency...
-
In each of the following examples, explain whether the decision is rational or irrational. Describe the type of behavior exhibited. a. Kookie's best friend likes to give her gift cards that Kookie...
-
What circumstances might influence the growth or shrinkage of the nonprofit sector?
-
Assume that interest rate parity holds. In both the spot market and the 90-day forward market 1 Japanese yen equals 0.0086 dollar. The 90-day risk-free securities yield 4.6 percent in Japan. What is...
-
bending in beam elemel For the two-bar truss shown in the figure 3(b), determine the displacements of 'node 1 and the stress in element 1-3. Take E=70GPa, A = 200mm. 12 kN 500 mm 300 mm 400 mm Figure...
-
What is the future value of $646 invested for 19 years at 16.0 percent compounded annually? Do not round intermediate calculations. Round your answer to the nearest cent.
-
Three point-like charges are placed at the following points on the x-y system coordinates (q1 is fixed at x = -1.00 cm, 92 is fixed at y = +1.00 cm, and q3 is fixed at x = +3.00 cm. Find the...
-
A horizontal meter stick with a scale that increases from left to right has a clamp at the 0.370 m mark (the 37.0 cm mark) from which a mass hanger with a weight is hung. The clamp has a mass of...
-
Identify which of the spectra, a ) , ?b ) ?or c ) ?relate to each of the three kinds of change in operating conditions and explain the physical processes leading to these modifications in the spectra...
-
1. An 80 kg man is running east at 15 m/s. What is his momentum? 2. An 8 kg box is moving along a frictionless, horizontal floor. At some point, the box experiences a steady 5 N force that is applied...
-
complete the following problems Do not rename provided data files or edit them in any way. Do not use global paths in your script. Instead, use setwd ( ) interactively in the console, but do not...
-
Prepare the following Ratios for January 2018 and include formula and calculation : Current Ratio Acid-Test Ratio Working Capital Days sales in inventory Be Prepared Adjusted Trial Balance January...
-
1. Below is depicted a graph G constructed by joining two opposite vertices of C12. Some authors call this a "theta graph" because it resembles the Greek letter 0. a. What is the total degree of this...
-
Milford Pump Company's income statement has been prepared for November of the current year. Instructions: 1. Prepare Milford Pump Companys November income statement reporting contribution margin. 2....
-
Dennis Williams is projecting the coming years net income potential for Williams Paint. The paint is sold for \($15.00\) a gallon. Variable costs per gallon are \($10.00\), and annual fixed costs are...
-
Farris Electronics is considering expanding its product line to include portable radios. Management projects that radios would sell for \($60.00\) each. Variable costs are projected to be \($25.00\)...
Study smarter with the SolutionInn App