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Lansing Mfg. prepared the following annual abbreviated flexible budget for different levels of machine hours: 10,400 8,000 8,800 9,600 $17,600 $19,200 Variable manufacturing overhead $16,000 $20,800 Fixed manufacturing overhead 65,000 65,000 65,000 65,000 Each product requires four hours of machine time and the company expects to produce 2,000 units for the year. Assume that Lansing. Mfg. has decided to use units of production to apply overhead to production. In April of the current year, the company produced 180 units and incurred $1,500 and $5,300 of variable and fixed overhead, respectively. a. What amount of variable manufacturing overhead should be applied to production in April? Applied VOH? b. What amount of fixed manufacturing overhead should be applied to production in April? Applied FOH? c. Calculate the under- or overapplied variable and fixed overhead for April. Note: Do not use negative signs with your answers. Variable OH Fixed OH

Lansing Mfg. prepared the following annual abbreviated flexible budget for different levels of machine hours: 10,400 8,000 8,800 9,600 $17,600 $19,200 Variable manufacturing overhead $16,000 $20,800 Fixed manufacturing overhead 65,000 65,000 65,000 65,000 Each product requires four hours of machine time and the company expects to produce 2,000 units for the year. Assume that Lansing. Mfg. has decided to use units of production to apply overhead to production. In April of the current year, the company produced 180 units and incurred $1,500 and $5,300 of variable and fixed overhead, respectively. a. What amount of variable manufacturing overhead should be applied to production in April? Applied VOH? b. What amount of fixed manufacturing overhead should be applied to production in April? Applied FOH? c. Calculate the under- or overapplied variable and fixed overhead for April. Note: Do not use negative signs with your answers. Variable OH Fixed OH

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Lansing Mfg. prepared the following annual abbreviated flexible budget for different levels of machine hours: 8,000 8,800 Variable manufacturing overhead $16,000 $17,600 $19,200 Fixed manufacturing overhead 65.000 65,000 65,000 Each product requires four hours of machine time and the company expects to produce 2,000 units for the year. Assume that Lansing Mfg. has decided to use units of production to apply overhead to production. In April of the current year, the company produced 180 units and incurred $1,500 and $5,300 of variable and fixed overhead, respectively. 9,600 10,400 $20,800 a. What amount of variable manufacturing overhead should be applied to production in April? Applied VOH? Variable OH 65,000 b. What amount of fixed manufacturing overhead should be applied to production in April? Applied FOH? Fixed OH c. Calculate the under- or overapplied variable and fixed overhead for April. Note: Do not use negative signs with your answers.
Transcribed Image Text:Lansing Mfg. prepared the following annual abbreviated flexible budget for different levels of machine hours: 8,000 8,800 Variable manufacturing overhead $16,000 $17,600 $19,200 Fixed manufacturing overhead 65.000 65,000 65,000 Each product requires four hours of machine time and the company expects to produce 2,000 units for the year. Assume that Lansing Mfg. has decided to use units of production to apply overhead to production. In April of the current year, the company produced 180 units and incurred $1,500 and $5,300 of variable and fixed overhead, respectively. 9,600 10,400 $20,800 a. What amount of variable manufacturing overhead should be applied to production in April? Applied VOH? Variable OH 65,000 b. What amount of fixed manufacturing overhead should be applied to production in April? Applied FOH? Fixed OH c. Calculate the under- or overapplied variable and fixed overhead for April. Note: Do not use negative signs with your answers.
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