The Protocols Corporation is a manufacturer of centrifuges. Fixed and variable manufacturing overheads are allocated to...
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The Protocols Corporation is a manufacturer of centrifuges. Fixed and variable manufacturing overheads are allocated to each centrifuge using budgeted assembly-hours. Budgeted assembly time is 2 hours per unit. The following table shows the budgeted amounts and actual results related to overhead for June 2017. EEE (Click the icon to view the table.) Read the requirements. Requirement 1. Prepare an analysis of all variable manufacturing overhead and fixed manufacturing overhead variances. Begin by calculating the following amounts for the variable overhead. Actual Input Variable OH Data table Actual Costs Incurred X Budgeted Rate The Protocols Corporation (June 2017) Number of centrifuges assembled and sold Hours of assembly time Flexible Budget Variable manufacturing overhead cost per hour of assembly time Variable manufacturing overhead costs Fixed manufacturing overhead costs $ $ Actual Results Allocated Overhead 225 360 $ 11,216 17,700 S Static Budget 170 30.00 16,320 X Requirements 1. Prepare an analysis of all variable manufacturing overhead and fixed manufacturing overhead variances. 2. Prepare journal entries for Protocols' June 2017 variable and fixed manufacturing overhead costs and variances; write off these variances to Cost of Goods Sold for the quarter ending June 30, 2017. 3. How does the planning and control of variable manufacturing overhead costs differ from the planning and control of fixed manufacturing overhead costs? Print Done The Protocols Corporation is a manufacturer of centrifuges. Fixed and variable manufacturing overheads are allocated to each centrifuge using budgeted assembly-hours. Budgeted assembly time is 2 hours per unit. The following table shows the budgeted amounts and actual results related to overhead for June 2017. EEE (Click the icon to view the table.) Read the requirements. Requirement 1. Prepare an analysis of all variable manufacturing overhead and fixed manufacturing overhead variances. Begin by calculating the following amounts for the variable overhead. Actual Input Variable OH Data table Actual Costs Incurred X Budgeted Rate The Protocols Corporation (June 2017) Number of centrifuges assembled and sold Hours of assembly time Flexible Budget Variable manufacturing overhead cost per hour of assembly time Variable manufacturing overhead costs Fixed manufacturing overhead costs $ $ Actual Results Allocated Overhead 225 360 $ 11,216 17,700 S Static Budget 170 30.00 16,320 X Requirements 1. Prepare an analysis of all variable manufacturing overhead and fixed manufacturing overhead variances. 2. Prepare journal entries for Protocols' June 2017 variable and fixed manufacturing overhead costs and variances; write off these variances to Cost of Goods Sold for the quarter ending June 30, 2017. 3. How does the planning and control of variable manufacturing overhead costs differ from the planning and control of fixed manufacturing overhead costs? Print Done
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