ariable manufacturing overhead costs Fixed manufacturing overhead costs Normal production level in labour hours Normal production level in units Standard labour hours per unit $47,000 $21,620 18,800 4,700 2

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Calculate the total, fixed, and variable predetermined manufacturing overhead rates. (Round answers to 2 decimal places, e.g.
15.25.)
Variable manufacturing overhead $
Fixed manufacturing overhead
Total manufacturing overhead
$
Total overhead variance
Budget overhead variance
Volume overhead variance
Rate
Calculate the total, budget, and volume overhead variances.
Transcribed Image Text:Calculate the total, fixed, and variable predetermined manufacturing overhead rates. (Round answers to 2 decimal places, e.g. 15.25.) Variable manufacturing overhead $ Fixed manufacturing overhead Total manufacturing overhead $ Total overhead variance Budget overhead variance Volume overhead variance Rate Calculate the total, budget, and volume overhead variances.
The following information was taken from the annual manufacturing overhead cost budget of Sheffield Company:
Variable manufacturing overhead costs
Fixed manufacturing overhead costs
Normal production level in labour hours
Normal production level in units
Standard labour hours per unit
$47,000
$21,620
18,800
During the year. 4,200 units were produced, 17,000 hours were worked, and the actual manufacturing overhead was $64,020. Actual
fixed manufacturing overhead costs equalled the budgeted fixed manufacturing overhead costs. Overhead is applied based on direct
labour hours.
Variable manufacturing overhead $
4,700
Calculate the total, fixed, and variable predetermined manufacturing overhead rates. (Round answers to 2 decimal places, eg
15.25.)
Fixed manufacturing overhead
Rate
Transcribed Image Text:The following information was taken from the annual manufacturing overhead cost budget of Sheffield Company: Variable manufacturing overhead costs Fixed manufacturing overhead costs Normal production level in labour hours Normal production level in units Standard labour hours per unit $47,000 $21,620 18,800 During the year. 4,200 units were produced, 17,000 hours were worked, and the actual manufacturing overhead was $64,020. Actual fixed manufacturing overhead costs equalled the budgeted fixed manufacturing overhead costs. Overhead is applied based on direct labour hours. Variable manufacturing overhead $ 4,700 Calculate the total, fixed, and variable predetermined manufacturing overhead rates. (Round answers to 2 decimal places, eg 15.25.) Fixed manufacturing overhead Rate
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