Cooper Corporation produces decorator wall coverings. Budgeted production is 240,000 square feet per month, and the standard direct labor requirement to make this amount is 6,000 hours. All overhead is allocated based on direct labor hours. The following information is available: Budgeted Amounts Actual Results 300,000 7,500 Production in units Total labor hours 240,000 6,000 Total variable overhead $9,000 $ 11,200 Total fixed overhead $ 4,500 $ 4,800 Total overhead $ 13,500 $ 16,000 The journal entry to apply overhead to Work in Process Inventory for the month included:

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Cooper Corporation produces decorator wall coverings. Budgeted production is 240,000 square feet per month, and the standard direct labor
requirement to make this amount is 6,000 hours. All overhead is allocated based on direct labor hours. The following information is available:
Budgeted
Amounts
240,000
Actual
Results
300,000
Production in units
Total labor hours
6,000
7,500
Total variable overhead
$9,000
$ 11, 200
Total fixed overhead
$4,500
$ 4,800
Total overhead
$ 13,500 $ 16,000
The journal entry to apply overhead to Work in Process Inventory for the month included:
Transcribed Image Text:Cooper Corporation produces decorator wall coverings. Budgeted production is 240,000 square feet per month, and the standard direct labor requirement to make this amount is 6,000 hours. All overhead is allocated based on direct labor hours. The following information is available: Budgeted Amounts 240,000 Actual Results 300,000 Production in units Total labor hours 6,000 7,500 Total variable overhead $9,000 $ 11, 200 Total fixed overhead $4,500 $ 4,800 Total overhead $ 13,500 $ 16,000 The journal entry to apply overhead to Work in Process Inventory for the month included:
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