Homework Help is Here – Start Your Trial Now!
Business
Accounting
Buis Corporation, which makes landing gears, has provided the following data for a recent month: Budgeted production 1,200 gears Standard machine hours per gear Budgeted supplies cost 5.9 machine-hours $6.50 per machine-hour Actual production Actual machine hours Actual supplies cost (total) 1,300 gears 7,950 machine-hours $ 49,742 Determine the rate and efficiency variances for the variable overhead item supplies and indicate whether those variables are favorable or unfavorable. Yogi Company expects to produce 2,080 units in January which will require 10,400 hours of direct labor and 2,210 units in February which will require 11,050 hours of direct labor. Yogi budgets $9 per unit for variable manufacturing overhead; $1,900 per month for depreciation; and $75,320 per month for other fixed manufacturing overhead costs. Prepare Yogi's manufacturing overhead budget for January and February, including the predetermined overhead allocation rate using direct labor hours as the allocation base.

Buis Corporation, which makes landing gears, has provided the following data for a recent month: Budgeted production 1,200 gears Standard machine hours per gear Budgeted supplies cost 5.9 machine-hours $6.50 per machine-hour Actual production Actual machine hours Actual supplies cost (total) 1,300 gears 7,950 machine-hours $ 49,742 Determine the rate and efficiency variances for the variable overhead item supplies and indicate whether those variables are favorable or unfavorable. Yogi Company expects to produce 2,080 units in January which will require 10,400 hours of direct labor and 2,210 units in February which will require 11,050 hours of direct labor. Yogi budgets $9 per unit for variable manufacturing overhead; $1,900 per month for depreciation; and $75,320 per month for other fixed manufacturing overhead costs. Prepare Yogi's manufacturing overhead budget for January and February, including the predetermined overhead allocation rate using direct labor hours as the allocation base.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

tutor pleassse solve

Buis Corporation, which makes landing gears, has provided the following data for a recent month: Budgeted production 1,200 gears Standard machine hours per gear Budgeted supplies cost 5.9 machine-hours $6.50 per machine-hour Actual production Actual machine hours Actual supplies cost (total) 1,300 gears 7,950 machine-hours $ 49,742 Determine the rate and efficiency variances for the variable overhead item supplies and indicate whether those variables are favorable or unfavorable. Yogi Company expects to produce 2,080 units in January which will require 10,400 hours of direct labor and 2,210 units in February which will require 11,050 hours of direct labor. Yogi budgets $9 per unit for variable manufacturing overhead; $1,900 per month for depreciation; and $75,320 per month for other fixed manufacturing overhead costs. Prepare Yogi's manufacturing overhead budget for January and February, including the predetermined overhead allocation rate using direct labor hours as the allocation base.
Transcribed Image Text:Buis Corporation, which makes landing gears, has provided the following data for a recent month: Budgeted production 1,200 gears Standard machine hours per gear Budgeted supplies cost 5.9 machine-hours $6.50 per machine-hour Actual production Actual machine hours Actual supplies cost (total) 1,300 gears 7,950 machine-hours $ 49,742 Determine the rate and efficiency variances for the variable overhead item supplies and indicate whether those variables are favorable or unfavorable. Yogi Company expects to produce 2,080 units in January which will require 10,400 hours of direct labor and 2,210 units in February which will require 11,050 hours of direct labor. Yogi budgets $9 per unit for variable manufacturing overhead; $1,900 per month for depreciation; and $75,320 per month for other fixed manufacturing overhead costs. Prepare Yogi's manufacturing overhead budget for January and February, including the predetermined overhead allocation rate using direct labor hours as the allocation base.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS