, 44:13 Blaze Corporation allocates overhead on the basis of DLH and the standard amount per allocation base is 3.20 DLH per unit. For March, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following budget. The company actually operated at 90% capacity (11,250 units) in March and incurred actual total overhead costs of $148,175. Overhead Budget Production in units Budgeted variable overhead Budgeted fixed overhead 80% Operating Levels 10,000 $ 64,000 $ 80,000 1. Compute the standard overhead rate. Hint Standard allocation base at 80% capacity is 32,000 DLH, computed as 10,000 units 3.20 DLH per unit. 2. Compute the total overhead variance. 3. Compute the overhead controllable variance. 4. Compute the overhead volume variance. neware in the tabe holow

, 44:13 Blaze Corporation allocates overhead on the basis of DLH and the standard amount per allocation base is 3.20 DLH per unit. For March, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following budget. The company actually operated at 90% capacity (11,250 units) in March and incurred actual total overhead costs of $148,175. Overhead Budget Production in units Budgeted variable overhead Budgeted fixed overhead 80% Operating Levels 10,000 $ 64,000 $ 80,000 1. Compute the standard overhead rate. Hint Standard allocation base at 80% capacity is 32,000 DLH, computed as 10,000 units 3.20 DLH per unit. 2. Compute the total overhead variance. 3. Compute the overhead controllable variance. 4. Compute the overhead volume variance. neware in the tabe holow

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Description: 44:13Blaze Corporation allocates overhead on the basis of DLH and the standard amount per allocation base is 3.20 DLH per unit. ForMarch, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared th

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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Acme Company's production budget for August is 19,300 units and includes the following component unit costs: direct materials, $9.0; direct labor, $11.8; variable overhead, $5.8. Budgeted fixed overhead is $50,000. Actual production in August was 21,870 units. Actual unit component costs incurred during August include direct materials, $10.00; direct labor, $11.20; variable overhead, $7.00. Actual fixed overhead was $53,300. The standard fixed overhead application rate per unit consists of $2.4 per machine hour and each unit is allowed a standard of 1 hour of machine time. Required: Calculate the fixed overhead budget variance and the fixed overhead volume variance. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Fixed overhead budget variance Fixed overhead volume variance $ 15,309 U U
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The following data pertains to the month of October for Elm. Co. when production was budgeted to be 5,000 units of P90. P90 has standard costs per unit of: 3 lbs of Direct Materials at a cost of $7.00 per lb; .20 hours of Direct Labor at $18.00 per hour, and variable overhead assigned on the basis of 0.05 machine hours at a rate of $50 per machine hour. In October the productio of P90 was 4,600 units, using 15,100 lbs of material costing a total of $107,778. A.Determine the direct materials price variance. (negative numbers indicate a favorable variance)
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Monthly budgeted fixed overhead cost?
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