Bonita Corporation accumulates the following data relative to jobs started and finished during the month of June 2022.Costs and Production DataActualStandardRaw materials unit cost$2.20$2Raw materials units11,30010,900Direct labor payroll$166,500$159,600Direct labor hours15,00015,200Manufacturing overhead incurred$210,420Manufacturing overhead applied$214,320Machine hours expected to be used at normal capacity43,500Budgeted fixed overhead for June$73,950Variable overhead rate per machine hour$3.00Fixed overhead rate per machine hour$1.70Overhead is applied on the basis of standard machine hours. Three hours of machine time are required for each direct labor hour. Thejobs were sold for $473,000. Selling and administrative expenses were $44,400. Assume that the amount of raw materials purchasedequaled the amount used.Compute the total overhead variance.Total overhead variance$

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Description: Bonita Corporation accumulates the following data relative to jobs started and finished during the month of June 2022.Costs and Production DataActualStandardRaw materials unit cost$2.20$2Raw materials units11,30010,900Direct labor payroll$166,500$15

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Bonita Corporation accumulates the following data relative to jobs started and finished during the month of June 2022. Costs and Production Data Actual Standard Raw materials unit cost $2.20 $2 Raw materials units 11,300 10,900 Direct labor payroll $166,500 $159,600 Direct labor hours 15,000 15,200 Manufacturing overhead incurred $210,420 Manufacturing overhead applied $214,320 Machine hours expected to be used at normal capacity 43,500 Rudgeted fived overkhead fer Jun $73 950

Bonita Corporation accumulates the following data relative to jobs started and finished during the month of June 2022. Costs and Production Data Actual Standard Raw materials unit cost $2.20 $2 Raw materials units 11,300 10,900 Direct labor payroll $166,500 $159,600 Direct labor hours 15,000 15,200 Manufacturing overhead incurred $210,420 Manufacturing overhead applied $214,320 Machine hours expected to be used at normal capacity 43,500 Rudgeted fived overkhead fer Jun $73 950

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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