Krump Corporation's cost formula for its manufacturing overhead is $30,600 per month plus $64 per machine-hour. For the month of March, the company planned for activity of 7,900 machine-hours, but the actual level of activity was 7,880 machine- hours. The actual manufacturing overhead for the month was $558,610. The activity variance for manufacturing overhead in March would be closest to: O $22,410 U O $22.410 F O $1,280 F O $1,280 U

Krump Corporation's cost formula for its manufacturing overhead is $30,600 per month plus $64 per machine-hour. For the month of March, the company planned for activity of 7,900 machine-hours, but the actual level of activity was 7,880 machine- hours. The actual manufacturing overhead for the month was $558,610. The activity variance for manufacturing overhead in March would be closest to: O $22,410 U O $22.410 F O $1,280 F O $1,280 U

Name: Krump Corporation's cost formula for its manufacturing overhead is $3
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Krump Corporation's cost formula for its manufacturing overhead is $30,600 per month plus $64 per machine-hour. For themonth of March, the company planned for activity of 7,900 machine-hours, but the actual level of activity was 7,880 machine-hours.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Stuart Corporation expects to incur indirect overhead costs of $102,000 per month and direct manufacturing costs of $13 per unit. The expected production activity for the first four months of the year are as follows. Estimated production in units Required a. Calculate a predetermined overhead rate based on the number of units of product expected to be made during the first four months of the year. b. Allocate overhead costs to each month using the overhead rate computed in Requirement a. c. Calculate the total cost per unit for each month using the overhead allocated in Requirement b. Required A Required B Complete this question by entering your answers in the tabs below. January February March 4,500 8,200 5,000 Required C Predetermined overhead rate $ Answer is complete but not entirely correct. Calculate a predetermined overhead rate based on the number of units of product expected to be made during the first four months of the year. April 6,300 4 X per unit Required A Required B >
Metlock Company applies overhead based on direct labour hours. Two direct labour hours are required for each unit of product. Planned production for the period was set at 9,000 units. Manufacturing overhead is budgeted at $126,000 for the period (20% of this cost is fixed). The 16,830 hours worked during the period resulted in the production of 8,230 units. The variable manufacturing overhead cost incurred was $102,300 and the fixed manufacturing overhead cost was $28,100. please complete answer
A company estimates its manufacturing overhead will be $630,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? When required, round your answers to nearest cent. A. Budgeted direct labor hours: 72,000 $______ per direct labor hour B. Budgeted direct labor expense: $1,800,000 $_____ per direct labor dollar C. Estimated machine hours: 120,000 $_____ per machine hour
In October, Blue Spruce Inc. reports 42,200 actual direct labor hours and incurs $198,000 of manufacturing overhead costs. Standard hours allowed for the month's production is 40,600 hours. Blue Spruce's predetermined overhead rate is $5.04 per direct labor hour. The flexible manufacturing overhead budget shows that budgeted costs are $3.80 variable per direct labor hour and $62,000 fixed. Compute the manufacturing overhead volume variance. Normal capacity was 50,000 direct labor hours. Identify whether the variance is favorable or unfavorable. Total manufacturing overhead volume variance $
Petrus Framing's cost formula for its supplies cost is $1,790 per month plus $10 per frame. For the month of March, the company planned for activity of 619 frames, but the actual level of activity was 624 frames. The actual supplies cost for the month was $8,500. The activity variance for supplies cost in March would be closest to:
Dubberly Corporation's cost formula for its manufacturing overhead is $32,300 per month plus $52 per machine-hour. For the month of March, the company planned for activity of 7,860 machine-hours, but the actual level of activity was 7,780 machine-hours. The actual manufacturing overhead for the month was $465,470. The activity variance for manufacturing overhead in March would be closest to: Multiple Choice $24,450 U $4,160 F $4,160 U $24,450 F
Dubberly Corporation's cost formula for its manufacturing overhead is $32,100 per month plus $64 per machine-hour. For the month of March, the company planned for activity of 7,820 machine-hours, but the actual level of activity was 7,760 machine-hours. The actual manufacturing overhead for the month was $556,790. The activity variance for manufacturing overhead in March would be closest to: Multiple Cholce $24,210 U $24,210 F $3,840 F $3,840 U
Cholla Company’s standard fixed overhead rate is based on budgeted fixed manufacturing overhead of $10,800 and budgeted production of 36,000 units. Actual results for the month of October reveal that Cholla produced 31,000 units and spent $10,500 on fixed manufacturing overhead costs.
The following labor standards have been established for a particular product: Standard labor-hours per unit of output 8.7 hours Standard labor rate $12.50 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 6,500 hours Actual total labor cost $78,650 Actual output 900 units What is the labor efficiency variance for the month? Multinl e CholcA
Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 34,000 direct labor - hours would be required for the period's estimated level of production. The company also estimated $583,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 per direct labor - hour. Harris's actual manufacturing overhead cost for the year was $714, 049 and its actual total direct labor was 34, 500 hours. Required: Compute the company's plantwide predetermined overhead rate for the year.
Chhom Corporation makes a product whose direct labor standards are 0.8 hours per unit and $31 per hour. In November the company produced 7,500 units using 5,500 direct labor-hours. The actual direct labor cost was $115,500. The labor efficiency variance for November is:
The standard cost of product 5252 includes 1.9 hours of direct labor at $12.00 per hour. The predetermined overhead rate is $22 per direct labor hour. During July, the company incurred 4,000 hours of direct labor at an average rate of $12.30 per hour and $80,700 of manufacturing overhead costs. It produced 2,000 units. (a) Compute the total, price, and quantity variances for labor. Total labor variance 3160 Unfavorable Labor price variance 800 Unfavorable Labor quantity variance $ 2360 Unfavorable (b) Compute the total overhead variance. Total overhead variance $ 7300 Favorable