Company applies following available for November: Standard: Direct labor hours (DLH) per unit Variable overhead per DLH Fixed overhead per DLH (based on 8,900 DLH) Actual Units produced Direct labor hours Variable overhead 1,800 8,900 $6,400 5 $0.75 $1.90

Company applies following available for November: Standard: Direct labor hours (DLH) per unit Variable overhead per DLH Fixed overhead per DLH (based on 8,900 DLH) Actual Units produced Direct labor hours Variable overhead 1,800 8,900 $6,400 5 $0.75 $1.90

Name: Selena Company applies overhead based on direct labor hours and has t
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Description: Selena Company applies overhead based on direct labor hours and has thefollowing available for November:Standard:Direct labor hours (DLH) per unitVariable overhead per DLHFixed overhead per DLH (based on 8,900 DLH)ActualUnits producedDirect labor ho

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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Green and White Company reported the following monthly data: Units produced Sales price Direct materials Direct labor Variable overhead Fixed overhead What is Green and White's contribution margin for this month if 1,090 units were sold? Multiple Choice O $74,400 $26,160 $32,700 3,100 units $ 30 per unit $ 1 per unit $ 2 per unit $ 3 per unit $ 12,400 in total $93,000
Standard Actual Variable overhead rate $3.35 Fixed overhead rate $1.80 Hours 18,900 17,955* Fixed overhead $46,000 Actual variable overhead $67,430 Total factory overhead $101,450 *Actual hours are equal to standard hours for units produced. The fixed factory overhead volume variance is
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If estimated annual factory overhead is $980,500; overhead is applied using direct labor hours; estimated annual direct labor hours are 265,000; actual March factory overhead is $88,800; and actual March direct labor hours are 23,500; then overhead is: Multiple Choice $1,450 overapplied. $850 overapplied. $1,450 underapplied. $850 underapplied. $1,850 underapplied.
- ok k int ences w 3 E Overhead information for Cran-Mar Company for October follows: Total factory overhead cost incurred Budgeted fixed factory overhead cost Total standard overhead rate per machine hour (MH) D Standard variable factory overhead rate per MH Standard MHS allowed for the units manufactured here to search Required: 1. What is the standard fixed factory overhead rate per machine hour (MH)? 2. What is the denominator activity level that was used to establish the fixed factory overhead application rate? 3. Two-way analysis (breakdown) of the total factory overhead cost variance: calculate the following factory overhead cost variances for October and indicate whether each variance is favorable (F) or unfavorable (U). a. Total flexible-budget variance. b. Production volume variance. c. Total overhead cost variance. 4. Calculate the production volume variance and indicate whether the variance is favorable (F) or unfavorable (U). Complete this question by entering your answers…
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ator=&inpr... 18 R Print Item Calculating Departmental Overhead Rates and Applying Overhead to Production At the beginning of the year, Glaser Company estimated the following: Assembly Testing Department Department Total Overhead $364,000 $371,280 $735,280 Direct labor hours 157,500 118,125 275,625 Machine hours 50,500 54,540 105,040 Glaser uses departmental overhead rates. In the assembly department, overhead is applied on the basis of direct labor hours. In the testing department, overhead is applied on the basis of machine hours. Actual data for the month of March are as follows: Assembly Testing Department Department Total Overhead $43,680 $44,554 $88,234 Direct labor hours 18,900 14,175 33,075 Machine hours 6,060 6,545 12,605 Required: 1. Calculate the predetermined overhead rates for the assembly and testing departments. Round your answers to the nearest cent. Assembly department overhead rate per direct labor hour Testing department overhead rate per machine hour Check My Work 4…
iven a predetermined overhead rate of $1.60 per direct labor hour, a capacity of 50,000 hours and 42,000 actual hours, the cost of unused capacity is
Income Statements under Absorption Costing and Variable Costing Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for July: Sales (4,000 units) $2,600,000 Production costs (4,350 units): Direct materials Direct labor Variable factory overhead Fixed factory overhead Selling and administrative expenses: Variable selling and administrative expenses Fixed selling and administrative expenses Sales a. Prepare an income statement according to the absorption costing concept. Gallatin County Motors Inc. Absorption Costing Income Statement For the Month Ended July 31 $ 2,600,000 Cost of goods sold Gross profit 1,800,000 $1,218,000 522,000 87,000 130,500 1,957,500 $ 800,000 $60,000 25,000 85,000
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A company uses direct labor costs to apply overhead. Its production costs for the period are: direct materials, $45,000; direct labor, $35,000; and overhead applied, $38,500. What is its predetermined overhead rate?