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

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...

See similar textbooks

Question Content Area

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

Definition Definition Indirect costs incurred while producing goods or services. Overhead costs cannot be directly attributed to products or services. Overhead includes indirect material cost, indirect labor cost, rent, utilities expenses, and depreciation. Since these costs directly affect the profitability of a company, managing overhead becomes an important task for management.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

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 5,600 5,600 5,600 Total overhead $9,200 $9,600 $10,000 Normal capacity = 100% and overhead is applied based on direct labor hours Standard overhead rate = $9,600/4,000 = $2.40 per direct labor hour Direct materials are $68.00 per unit. Direct labor is $25.00 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
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 $2,880 $3,200 $3,520 Fixed overhead 5,600 5,600 5,600 Total overhead $8,480 $8,800 $9,120 Normal capacity = 100% and overhead is applied based on direct labor hours Standard overhead rate = $8,800/4,000 = $2.20 per direct labor hour Direct materials are $66.50 per unit. Direct labor is $24.50 per hour. Prepare a flexible budget for overhead based on the above data. Flexible Budget 900 1,000 1,100 Direct Material Direct Labor Variable Overhead Fixed Overhead Total
Shore Company reports the following information regarding its production cost. Units produced 29,000 units Direct labor $ 24 per unit Direct materials $ 25 per unit 10 per unit $95,920 in total Variable overhead $ Fixed overhead Compute product cost per unit under absorption costing. Multiple Choice $62.31 $59.00 $49.00 (O $25.00
Question Content Area Compute conversion costs given the following data: direct materials, $376,200; direct labor, $200,400; factory overhead, $179,400 and selling expenses, $48,400. a. $555,600 b. $131,000 c. $756,000 d. $379,800
A5
Belle Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year. Units produced this year Units sold this year Direct materials Direct labor Variable overhead Fixed overhead Given Belle Company's data, compute cost per unit of finished goods under absorption costing. Multiple Choice O $30.00 $43.33 $35.00 30,000 units 18,000 units $ 14 per unit $ 16 per unit $ 3 per unit $ 150,000 in total $33.00
Total Manufacturing Overhead Prime Conversion Cost Direct Materials Direct Labor Manufacturing Cost Case Cost A $ 2,120 $ 1,130 $ 3,670 6,990 11,660 2,100 6,770 8,020 1,420 3,090 9,440 1,980 3,010 5,930 E 11,610 20,630 3,470
Per Unit Total\\nDirect materials $ 5.00 \\nDirect labor 2.00 \\nSupervision 1.90 $ 123,500\\nDepreciation 1.40 $ 91,000\\nVariable manufacturing overhead 0.60 \\nRent 0.60 $ 39,000\\nTotal product cost $ 11.50 \\n \\n\\nIf Futura decides to make the starters, a supervisor would have to be hired (at a salary of $123,500) to oversee production. However, the company has sufficient idle tools and machinery such that no new equipment would have to be purchased. The rent charge above is based on space utilized in the plant. The total rent on the plant is $81,000 per period. Depreciation is due to obsolescence rather than wear and tear.\\n\\n \\n\\nRequired:\\n\\nWhat is the financial advantage (disadvantage) of making the 65,000 starters instead of buying them from an outside supplier?
View Policies Current Attempt in Progress A company expected its annual overhead costs to be $692920 and machine hours to equal 101900 hours. Actual overhead was $744100, and actual machine hours totalled 97400 hours. How much is the company's predetermined overhead rate to the nearest cent, assuming overhead is applied based on machine hours? O $7.30 O $6.80 O $7.64 O $7.11 e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
Data for the past two years for Behavior Corp. are: 20A 20B Units produced 10,000 11,000 Overhead applied per unit P15 P15 Actual overhead: Fixed 50,000 55,000 Variable 95,000 150,000 Estimated overhead: Fixed 50,000 56,000 Variable 130,000 142,000 The company determines overhead rates based on estimated units to be produced. Required: Determine the estimated units of production used to obtain the overhead allocation rates in 20A and 20B. Determine the over- or underapplied factory overhead for each of the two years.
cost account solution want asap
ok t For each of the following independent cases (A to E), compute the missing values in the table: Case A C D E Prime Conversion Cost Cost $ 9,560 $ 16,470 $ 57,300 110,600 48,750 Direct Materials 3,950 10,130 41,500 20,500 Direct Manufacturing Labor Overhead 7,400 12,650 14,400 $ 10,860 25,200 24,300 Total Manufacturing Cost 42,730 69,250 57,500