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D13 X✓ fx per hour A 1 Problem 3: Overhead Costs Variances 2 B لا Alignment Ty Number D LZ 3 Jailene Inc allocates overhead costs using the direct labor hour as the allocation base. It has provided the following manufacturing overhead data: 4 5 Data 6 Number of production units 7 Direct labor hour (DLH)* per unit 8 Total direct labor hours 9 VMOH 10 FMOH 11 Total MOH 12 Standard VMOH rate per hour 13 Standard FMOH rate per hour 14 MOH rate per hour 15 16 Actual Budgeted or Standard 53,000 50000 units 0.55 29,150 $145,000 0.72 DLH per unit 36,000 DLH $144,000 $65,000 210,000 $72,000 216,000 $4.00 per hour $2.00 per hour $6.00 per hour Formulae: Styles E Cells E F H I Editing Sensitivity Add-ins L M N 0 17 Required: 18 A. Calculate Variable MOH flexible budget cost variance. 19 B. Calculate Fixed MOH volume variance. 20 C. Calculate the total MOH variance. 21 22 Solution: 23 A. Variable MOH flexible budget cost variance = Actual Variable MOH costs - Budgeted Variable MOH costs 24 Actual Variable MOH costs 25 Budgeted Variable MOH costs 26 Variable MOH flexible budget cost variance: 27 28 B. Fixed MOH Volume variance = Budgeted FMOH costs for Planned Production - Budgeted FMOH cost applied to Actual Production 29 Budgeted FMOH costs for Planned Production 30 Budgeted FMOH cost applied to Actual Production Variable MOH Flexible budget cost variance = Actual Variable MOH costs - Budgeted Variable MOH costs Budgeted Variable MOH costs = Standard Variable MOH rate x Standard hours for Actual Production Fixed MOH Volume Variance = Budgeted FMOH costs for Planned Production - Budgeted FMOH cost applied to Actual Production 31 Fixed MOH Volume variance 32 33 34 35 36 37 38 39 40

D13 X✓ fx per hour A 1 Problem 3: Overhead Costs Variances 2 B لا Alignment Ty Number D LZ 3 Jailene Inc allocates overhead costs using the direct labor hour as the allocation base. It has provided the following manufacturing overhead data: 4 5 Data 6 Number of production units 7 Direct labor hour (DLH)* per unit 8 Total direct labor hours 9 VMOH 10 FMOH 11 Total MOH 12 Standard VMOH rate per hour 13 Standard FMOH rate per hour 14 MOH rate per hour 15 16 Actual Budgeted or Standard 53,000 50000 units 0.55 29,150 $145,000 0.72 DLH per unit 36,000 DLH $144,000 $65,000 210,000 $72,000 216,000 $4.00 per hour $2.00 per hour $6.00 per hour Formulae: Styles E Cells E F H I Editing Sensitivity Add-ins L M N 0 17 Required: 18 A. Calculate Variable MOH flexible budget cost variance. 19 B. Calculate Fixed MOH volume variance. 20 C. Calculate the total MOH variance. 21 22 Solution: 23 A. Variable MOH flexible budget cost variance = Actual Variable MOH costs - Budgeted Variable MOH costs 24 Actual Variable MOH costs 25 Budgeted Variable MOH costs 26 Variable MOH flexible budget cost variance: 27 28 B. Fixed MOH Volume variance = Budgeted FMOH costs for Planned Production - Budgeted FMOH cost applied to Actual Production 29 Budgeted FMOH costs for Planned Production 30 Budgeted FMOH cost applied to Actual Production Variable MOH Flexible budget cost variance = Actual Variable MOH costs - Budgeted Variable MOH costs Budgeted Variable MOH costs = Standard Variable MOH rate x Standard hours for Actual Production Fixed MOH Volume Variance = Budgeted FMOH costs for Planned Production - Budgeted FMOH cost applied to Actual Production 31 Fixed MOH Volume variance 32 33 34 35 36 37 38 39 40

FINANCIAL ACCOUNTING
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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D13 X✓ fx per hour A 1 Problem 3: Overhead Costs Variances 2 B لا Alignment Ty Number D LZ 3 Jailene Inc allocates overhead costs using the direct labor hour as the allocation base. It has provided the following manufacturing overhead data: 4 5 Data 6 Number of production units 7 Direct labor hour (DLH)* per unit 8 Total direct labor hours 9 VMOH 10 FMOH 11 Total MOH 12 Standard VMOH rate per hour 13 Standard FMOH rate per hour 14 MOH rate per hour 15 16 Actual Budgeted or Standard 53,000 50000 units 0.55 29,150 $145,000 0.72 DLH per unit 36,000 DLH $144,000 $65,000 210,000 $72,000 216,000 $4.00 per hour $2.00 per hour $6.00 per hour Formulae: Styles E Cells E F H I Editing Sensitivity Add-ins L M N 0 17 Required: 18 A. Calculate Variable MOH flexible budget cost variance. 19 B. Calculate Fixed MOH volume variance. 20 C. Calculate the total MOH variance. 21 22 Solution: 23 A. Variable MOH flexible budget cost variance = Actual Variable MOH costs - Budgeted Variable MOH costs 24 Actual Variable MOH costs 25 Budgeted Variable MOH costs 26 Variable MOH flexible budget cost variance: 27 28 B. Fixed MOH Volume variance = Budgeted FMOH costs for Planned Production - Budgeted FMOH cost applied to Actual Production 29 Budgeted FMOH costs for Planned Production 30 Budgeted FMOH cost applied to Actual Production Variable MOH Flexible budget cost variance = Actual Variable MOH costs - Budgeted Variable MOH costs Budgeted Variable MOH costs = Standard Variable MOH rate x Standard hours for Actual Production Fixed MOH Volume Variance = Budgeted FMOH costs for Planned Production - Budgeted FMOH cost applied to Actual Production 31 Fixed MOH Volume variance 32 33 34 35 36 37 38 39 40
Transcribed Image Text:D13 X✓ fx per hour A 1 Problem 3: Overhead Costs Variances 2 B لا Alignment Ty Number D LZ 3 Jailene Inc allocates overhead costs using the direct labor hour as the allocation base. It has provided the following manufacturing overhead data: 4 5 Data 6 Number of production units 7 Direct labor hour (DLH)* per unit 8 Total direct labor hours 9 VMOH 10 FMOH 11 Total MOH 12 Standard VMOH rate per hour 13 Standard FMOH rate per hour 14 MOH rate per hour 15 16 Actual Budgeted or Standard 53,000 50000 units 0.55 29,150 $145,000 0.72 DLH per unit 36,000 DLH $144,000 $65,000 210,000 $72,000 216,000 $4.00 per hour $2.00 per hour $6.00 per hour Formulae: Styles E Cells E F H I Editing Sensitivity Add-ins L M N 0 17 Required: 18 A. Calculate Variable MOH flexible budget cost variance. 19 B. Calculate Fixed MOH volume variance. 20 C. Calculate the total MOH variance. 21 22 Solution: 23 A. Variable MOH flexible budget cost variance = Actual Variable MOH costs - Budgeted Variable MOH costs 24 Actual Variable MOH costs 25 Budgeted Variable MOH costs 26 Variable MOH flexible budget cost variance: 27 28 B. Fixed MOH Volume variance = Budgeted FMOH costs for Planned Production - Budgeted FMOH cost applied to Actual Production 29 Budgeted FMOH costs for Planned Production 30 Budgeted FMOH cost applied to Actual Production Variable MOH Flexible budget cost variance = Actual Variable MOH costs - Budgeted Variable MOH costs Budgeted Variable MOH costs = Standard Variable MOH rate x Standard hours for Actual Production Fixed MOH Volume Variance = Budgeted FMOH costs for Planned Production - Budgeted FMOH cost applied to Actual Production 31 Fixed MOH Volume variance 32 33 34 35 36 37 38 39 40
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