Percent of capacity 90% 100% 110% Direct labor hours 3,600 4,000 4,400 Units of output 900 1,000 1,100         Variable overhead $3,600 $4,000 $4,400 Fixed overhead 5,200 5,200 5,200 Total overhead $8,800 $9,200 $9,600 Normal capacity = 100% and overhead is applied based on direct labor hours Standard overhead rate = $9,200/4,000 = $2.30 per direct labor hour Direct materials are $69.00 per unit. Direct labor is $21.50 per hour. Prepare a flexible budget for overhead based on the above data.   Flexible Budget   900 1,000 1,100 Direct Material $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Direct Labor fill in the blank 4 fill in the blank 5 fill in the blank 6 Variable Overhead fill in the blank 7 fill in the blank 8 fill in the blank 9 Fixed Overhead fill in the blank 10 fill in the blank 11 fill in the blank 12 Total $fill in the blank 13 $fill in the blank 14 $fill in the blank 15

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter5: Process Costing
Section: Chapter Questions
Problem 10MC: Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the...
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Percent of capacity 90% 100% 110%
Direct labor hours 3,600 4,000 4,400
Units of output 900 1,000 1,100
       
Variable overhead $3,600 $4,000 $4,400
Fixed overhead 5,200 5,200 5,200
Total overhead $8,800 $9,200 $9,600

Normal capacity = 100% and overhead is applied based on direct labor hours

Standard overhead rate = $9,200/4,000 = $2.30 per direct labor hour

Direct materials are $69.00 per unit.

Direct labor is $21.50 per hour.

Prepare a flexible budget for overhead based on the above data.

  Flexible Budget

  900 1,000 1,100
Direct Material $fill in the blank 1 $fill in the blank 2 $fill in the blank 3
Direct Labor fill in the blank 4 fill in the blank 5 fill in the blank 6
Variable Overhead fill in the blank 7 fill in the blank 8 fill in the blank 9
Fixed Overhead fill in the blank 10 fill in the blank 11 fill in the blank 12
Total $fill in the blank 13 $fill in the blank 14 $fill in the blank 15

 

 

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ISBN:
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OpenStax
Publisher:
OpenStax College