ig over Variable costs Indirect materials Indirect labor Maintenance expense Manufacturing supplies Total variable Variable costs Indirect materials Indirect labor Maintenance expense Manufacturing supplies $21.120 Total variable 11.520 9,600 5,760 $48,000 $21,600 13,000 The budget was based on an estimated 1,920 units being produced. During the past month, 1,440 units were produced, and the following costs incurred. 7,900 4,800 Company contains the following items. $47,300 Fixed costs Supervision Inspection costs Insurance expense Depreciation Total fixed Fixed costs $16,300 1,000 Supervision Inspection costs Insurance expense Depreciation Total fixed 1,900 14,400 $33,600 $17,700 1,200 2,100 14,100 $35,100

ig over Variable costs Indirect materials Indirect labor Maintenance expense Manufacturing supplies Total variable Variable costs Indirect materials Indirect labor Maintenance expense Manufacturing supplies $21.120 Total variable 11.520 9,600 5,760 $48,000 $21,600 13,000 The budget was based on an estimated 1,920 units being produced. During the past month, 1,440 units were produced, and the following costs incurred. 7,900 4,800 Company contains the following items. $47,300 Fixed costs Supervision Inspection costs Insurance expense Depreciation Total fixed Fixed costs $16,300 1,000 Supervision Inspection costs Insurance expense Depreciation Total fixed 1,900 14,400 $33,600 $17,700 1,200 2,100 14,100 $35,100

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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Difference A company has numerous products and currently absorbs its production overheads based on labour hours; it has the following information: G H All products Budget (units) 2,400 3,000 Labour hours (£10/ hour) 1 hour 0.2 hours 1,000,000 Material cost / unit £2.00 £3.50 Material requisitions 4 8 4,000 Number of batches 6 3 10,000 Overheads are budgeted as £2,500,000 for production set-up related and £1,200,000 for materials handling and storage related. Required: Calculate the unit cost for products G and H if the company was to adopt activity based costing and comment on the difference.
Budgeted variable factory overhead costs: $354,000 Budgeted production in units: 60,000 units Budgeted time: 2 direct labor hours per unit Allocation base: direct labor hours Actual production in units: 58,600 units Actual variable factory overhead costs incurred: $338,500 Actual direct labor hours used: 119,000 hours CALCULATE VARIABLE FACTORY OVERHEAD ALLOCATED: Allocated: $__________ CALCULATE VARIABLE FACTORY OVERHEAD SPENDING (PRICE) VARIANCE :…
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Dog Subject: acounting
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