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a, b, & c

a, b, & c

FINANCIAL ACCOUNTING
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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a, b, & c

of 15,000 units in 5,000 standard direct labor hours. Actual production of 16,200 Variable and fixed overhead variances-various issues Presented here are Inc. Piccolo's managers relate overhead to direct labor hours for planning, control, the original overhead budget and the actual costs incurred during April for Piccolo, and product costing purposes. The original budget is based on budgeted production variginal overhead budget and the actual costs incurred during April for Piccolo, me Piccolo's managers relate overhead to direct labor hours for planning, control, units required 5,600 actual direct labor hours Original Budget Actual Costs Variable overhead . .... Fixed overhead . .. .. $21,000 $23,600 32,000 33,200 Required: . Calculate the flexed budget allowances for variable and fixed overhead for April.
Transcribed Image Text:of 15,000 units in 5,000 standard direct labor hours. Actual production of 16,200 Variable and fixed overhead variances-various issues Presented here are Inc. Piccolo's managers relate overhead to direct labor hours for planning, control, the original overhead budget and the actual costs incurred during April for Piccolo, and product costing purposes. The original budget is based on budgeted production variginal overhead budget and the actual costs incurred during April for Piccolo, me Piccolo's managers relate overhead to direct labor hours for planning, control, units required 5,600 actual direct labor hours Original Budget Actual Costs Variable overhead . .... Fixed overhead . .. .. $21,000 $23,600 32,000 33,200 Required: . Calculate the flexed budget allowances for variable and fixed overhead for April.
b. Calculate the direct labor efficiency variance for April expressed in terms of direct labor hours. c. Calculate the predetermined overhead application rate for both variable and fixed overhead for April. d. Calculate the fixed and variable overhead applied to production during April if overhead is applied on the basis of standard hours allowed for actual production achieved. e. Calculate the fixed overhead budget and volume variances for April. f. Calculate the over- or underapplied fixed overhead for April.
Transcribed Image Text:b. Calculate the direct labor efficiency variance for April expressed in terms of direct labor hours. c. Calculate the predetermined overhead application rate for both variable and fixed overhead for April. d. Calculate the fixed and variable overhead applied to production during April if overhead is applied on the basis of standard hours allowed for actual production achieved. e. Calculate the fixed overhead budget and volume variances for April. f. Calculate the over- or underapplied fixed overhead for April.
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