Can you help me with this task, please? Operating at a normal level ofunits of product each period. The direct labour wage rate is £6 per hour. Two-and-a-half metresof direct materials go into each unit of product; the material costs £8.60 per metre. The flexiblebudget used to plan and control manufacturing overhead costs is given below (in condensedform):direct labour-hours, Lasser Company produces 10,000Direct labour hoursCost formulaOverhead costs(per direct labour-hour)000'0r000'oɛ000'orVariable costs£38,000£76,000Fixed costs168,000Total overhead cost£ 225,000£ 244,000Required1- Using 30,000 direct labour-hours as the denominator activity, compute thepredetermined overhead rate and break it down into variable and fixed elements.2- Complete the standard cost card below for one unit of product:Direct materials, 2.5 metres at £ 8.60 £ 21.50Direct labour, ?Variable overhead, ?Fixed overhead, ?Total standard cost per unitVariable overhead per unit /30000 DFixed overhead per unit/30000Hours unitperDirect materialsDirect labourVariable overheadsFixed overheads

Predetermined Overhead Rate per labor hour=Total Overhead CostTotal labor hours

inect labour-hours, Lasser Company produces 10,000 units of product each period. The direct labour wage rate is £6 per hour. Two-and-a-half metres of direct materials go into each unit of product; the material costs £8.60 per metre. The flexible budget used to plan and control manufacturing overhead costs is given below (in condensed form): Direct labour hours Cost formula Overhead costs (per direct labour-hour) 20,000 000'08 £ 57,000 000'ov Variable costs £190 £38,000 000'9L 3 Fixed costs 168,000 000'891 Total overhead cost £206,000 £ 225,000 £244,000 Required 1- Using 30,000 direct labour-hours as the denominator activity, compute the predetermined overhead rate and break it down into variable and fixed elements. 2- Complete the standard cost card below for one unit of product: Direct materials, 2.5 metres at £ 8.60 £ 21.50 Direct labour, ? Variable overhead, ? Fixed overhead, ? Total standard cost per unit Variable overhead per unit /30000 = Fixed overhead per unit = 0000E/ Hours per unit Direct materials Direct labour Yariahle oyerheads

inect labour-hours, Lasser Company produces 10,000 units of product each period. The direct labour wage rate is £6 per hour. Two-and-a-half metres of direct materials go into each unit of product; the material costs £8.60 per metre. The flexible budget used to plan and control manufacturing overhead costs is given below (in condensed form): Direct labour hours Cost formula Overhead costs (per direct labour-hour) 20,000 000'08 £ 57,000 000'ov Variable costs £190 £38,000 000'9L 3 Fixed costs 168,000 000'891 Total overhead cost £206,000 £ 225,000 £244,000 Required 1- Using 30,000 direct labour-hours as the denominator activity, compute the predetermined overhead rate and break it down into variable and fixed elements. 2- Complete the standard cost card below for one unit of product: Direct materials, 2.5 metres at £ 8.60 £ 21.50 Direct labour, ? Variable overhead, ? Fixed overhead, ? Total standard cost per unit Variable overhead per unit /30000 = Fixed overhead per unit = 0000E/ Hours per unit Direct materials Direct labour Yariahle oyerheads

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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