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Direct materials-1 pound plastic at $7 per pound Direct labor-2.0 hours at $12.50 per hour Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit Direct materials (4,980 pounds) Direct labor (9.410 hours) Variable overhead Fixed overhead Tabela $35,856 The predetermined manufacturing overhead rate is $16 per direct labor hour ($32.00 +2.0). It was computed from a master manufacturing overhead budget based on normal production of 12.000 direct labor hours (6,000 units) for the month. The master budget showed total variable overhead costs of $66,000 ($5.50 per hour) and total foxed overhead costs of $126,000 ($10.50 per hour). Actual costs for October in producing 4,800 units were as follows. 119.507 107,520 48,280 $7,00 25.00 653 165 11.00 21.00 $64.00

Direct materials-1 pound plastic at $7 per pound Direct labor-2.0 hours at $12.50 per hour Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit Direct materials (4,980 pounds) Direct labor (9.410 hours) Variable overhead Fixed overhead Tabela $35,856 The predetermined manufacturing overhead rate is $16 per direct labor hour ($32.00 +2.0). It was computed from a master manufacturing overhead budget based on normal production of 12.000 direct labor hours (6,000 units) for the month. The master budget showed total variable overhead costs of $66,000 ($5.50 per hour) and total foxed overhead costs of $126,000 ($10.50 per hour). Actual costs for October in producing 4,800 units were as follows. 119.507 107,520 48,280 $7,00 25.00 653 165 11.00 21.00 $64.00

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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Direct materials-1 pound plastic at $7 per pound Direct labor-2.0 hours at $12.50 per hour res a single product. The standard cost per unit of product is shown below. Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit Direct materials (4,980 pounds) Direct labor (9.410 hours) Variable overhead Fixed overhead Total manufacturing costs The predetermined manufacturing overhead rate is $16 per direct labor hour ($32.00 +2.0). It was computed from a master manufacturing overhead budget based on normal production of 12,000 direct labor hours (6,000 units) for the month. The master budget showed total variable overhead costs of $66,000 ($5.50 per hour) and total fixed overhead costs of $126,000 ($10.50 per hour). Actual costs for October in producing 4,800 units were as follows. $35,856 119.507 107,520 $7.00 25,00 11.00 48,280 $311.163 21.00 $64.00
Transcribed Image Text:Direct materials-1 pound plastic at $7 per pound Direct labor-2.0 hours at $12.50 per hour res a single product. The standard cost per unit of product is shown below. Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit Direct materials (4,980 pounds) Direct labor (9.410 hours) Variable overhead Fixed overhead Total manufacturing costs The predetermined manufacturing overhead rate is $16 per direct labor hour ($32.00 +2.0). It was computed from a master manufacturing overhead budget based on normal production of 12,000 direct labor hours (6,000 units) for the month. The master budget showed total variable overhead costs of $66,000 ($5.50 per hour) and total fixed overhead costs of $126,000 ($10.50 per hour). Actual costs for October in producing 4,800 units were as follows. $35,856 119.507 107,520 $7.00 25,00 11.00 48,280 $311.163 21.00 $64.00
Direct materials (4,980 pounds) Direct labor (9.410 hours) Variable overhead i Fixed overhead Total manufacturing costs $ 35,856 119,507 Overhead volume variance 107,520 $311,163 The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, therefore, can be ignored. Compute the overhead controllable variance and the overhead volume variance. Overhead controllable variance $ 48,280 $
Transcribed Image Text:Direct materials (4,980 pounds) Direct labor (9.410 hours) Variable overhead i Fixed overhead Total manufacturing costs $ 35,856 119,507 Overhead volume variance 107,520 $311,163 The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, therefore, can be ignored. Compute the overhead controllable variance and the overhead volume variance. Overhead controllable variance $ 48,280 $
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