43. Crawford Company's standard fixed overhead cost is $6.00 per direct labor hour based onbudgeted fixed costs of $600,000. The standard allows 1 direct labor hours per unit. During2011, Crawford produced 110,000 units of product, incurred $630,000 of fixed overhead costs,and recorded 212,000 actual hours of direct labor.What is the activity level on which Crawford based its fixed overhead rate? *110,000 direct labor hoursO 105,000 direct labor hours50,000 direct labor hours100,000 direct labor hours

Formula: Standard Fixed Overhead Rate= Budgeted CostBudgeted Labor Hours

Answered: 43. Crawford Company's standard fixed…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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I need all parts of this question answered Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 66,000 labor-hours. The estimated variable manufacturing overhead was $8.41 per labor-hour and the estimated total fixed manufacturing overhead was $1,533,180. The actual labor-hours for the year turned out to be 68,400 labor-hours. Required: Compute the company's predetermined overhead rate for the recently completed year.
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 38,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $529,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $751,561 and its actual total direct labor was 38,500 hours. Required: Compute the company's plantwide predetermined overhead rate for the year. Note: Round your answer to 2 decimal places.
The following Informetlon relates to a company with a relevant range of activity from 10,000 units to 15,000 unlts. They are currently producing and selling 12,000 units. The average cost per unit is $7.40 for direct materlals; $4.00 for direct labor, and $4.00 for varlable manufacturing overhead. The average fixed cost per unit is $14.20 for fixed manufacturing overhead; $2.70 for fixed selling expenses and $1.80 for fixed administrative expenses. Variable selling expenses are $.60 per unit and varlable administrative expenses are $.50 per unit. Required: (For questlons a. - d. assume that 14,000 units are produced and sold.) a. Calculate the total amount of varlable cost for the units sold. b. Calculate the varlable cost per unit sold. (Round "Per unit" answer to 2 decimal places.) c. Calculate the total amount of fixed manufacturing costs. d. Calculate the average fixed manufacturing cost per unit produced. (Round "Per unit" answer to 2 decimal places.) e. Calculate the Incremental…
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Kingsley Products estimated that direct labor for the year would be 64,320 hours. The company also estimated that the fixed overhead cost for the year would be $160,800. They further estimated the variable overhead cost to be $4.00 per direct labor-hour. All overhead at Kingsley Products is applied on the basis of direct labor-hours. During the year, fixed overhead costs were exactly as planned ($160,800). Variable overhead was incurred at $4.50 per direct labor-hour. Underapplied overhead for the year was calculated as $18,600.

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