Thompson Products uses standard costing. It allocates manufacturing overhead (both variable and fixed) to products on...
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Thompson Products uses standard costing. It allocates manufacturing overhead (both variable and fixed) to products on the basis of standard direct manufacturing labor-hours (DLH). A (Click the icon to view additional information.) The actual costs, compared with the annual budget and 1/12 of the annual budget, are as folows: E (Cick the icon to view the data.) Read the requirement. 1. Calculate total manufacturing overhead costs allocated. Begin by computing the budgeted hours per unit. Determine the formula, then compute the amount. More Info Data Table Thompson Products develops its manufacturing overhead rate from the current annual budget. The manufacturing overhead budget for 2017 is based on budgeted output of 708,000 units, requiring 3,540,000 DLH. The company is able to schedule production uniformly thorughout the year. A total of 70,000 output units requiring 322,000 DLH was produced during May 2017. Manufacturing overhead (MOH) costs incurred for May amounted to $333,050. calculatie Annual Manufacturing Overhead Budget 2017 H costs Per Per DLH Monthly Actual MOH Total Output Input MOH Budget Costs for Complete Amount Unit Unit May 2017 May 2017 Variable MOH Print Done Indirect manufacturing labor $ 354,00o s 0.50 S 0.10 S 29,500 S 29,500 Supplies 708,000 1.00 0.20 59,000 112,000 Requirement Fixed MOH Supervision 601,800 0.85 0.17 50,150 48,000 Utilities 566,400 0.80 0.16 47,200 58,000 Calculate the following amounts for Thompson Products for May 2017: 1. Total manufacturing overhead costs allocated 2. Variable manufacturing overhead spending variance 3. Fixed manufacturing overhead spending variance 4. Variable manufacturing overhead efficiency variance 1,026,600 1.45 0.29 85,550 85,550 Depreciation $ 3,256,800 $ 4.60 $ 0.92 $ 271,400 S 333,050 Total Print Done 5. Production-volume variance e as fa Be sure to identify each variance as favorable (F) or unfavorable (U) Choose from any list or enter any number in the input fields and then continue to the next question. Print Done Thompson Products uses standard costing. It allocates manufacturing overhead (both variable and fixed) to products on the basis of standard direct manufacturing labor-hours (DLH). A (Click the icon to view additional information.) The actual costs, compared with the annual budget and 1/12 of the annual budget, are as folows: E (Cick the icon to view the data.) Read the requirement. 1. Calculate total manufacturing overhead costs allocated. Begin by computing the budgeted hours per unit. Determine the formula, then compute the amount. More Info Data Table Thompson Products develops its manufacturing overhead rate from the current annual budget. The manufacturing overhead budget for 2017 is based on budgeted output of 708,000 units, requiring 3,540,000 DLH. The company is able to schedule production uniformly thorughout the year. A total of 70,000 output units requiring 322,000 DLH was produced during May 2017. Manufacturing overhead (MOH) costs incurred for May amounted to $333,050. calculatie Annual Manufacturing Overhead Budget 2017 H costs Per Per DLH Monthly Actual MOH Total Output Input MOH Budget Costs for Complete Amount Unit Unit May 2017 May 2017 Variable MOH Print Done Indirect manufacturing labor $ 354,00o s 0.50 S 0.10 S 29,500 S 29,500 Supplies 708,000 1.00 0.20 59,000 112,000 Requirement Fixed MOH Supervision 601,800 0.85 0.17 50,150 48,000 Utilities 566,400 0.80 0.16 47,200 58,000 Calculate the following amounts for Thompson Products for May 2017: 1. Total manufacturing overhead costs allocated 2. Variable manufacturing overhead spending variance 3. Fixed manufacturing overhead spending variance 4. Variable manufacturing overhead efficiency variance 1,026,600 1.45 0.29 85,550 85,550 Depreciation $ 3,256,800 $ 4.60 $ 0.92 $ 271,400 S 333,050 Total Print Done 5. Production-volume variance e as fa Be sure to identify each variance as favorable (F) or unfavorable (U) Choose from any list or enter any number in the input fields and then continue to the next question. Print Done
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Cost Accounting A Managerial Emphasis
ISBN: 978-0136126638
13th Edition
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
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