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

Direct labor 17 per unit 11 per unit 2$ Direct materials 24 Overhead Total variable overhead Total fixed overhead Expected units to be produced $ 30,000 $100, e00 50,e00 units Product cost per unit under absorption costing
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
Direct labor Direct materials Overhead Total variable overhead Total fixed overhead Expected units to be produced Product cost per unit under absorption costing $ SA GA $ 17 per unit 11 per unit $30,000 $100,000 50,000 units
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
What should the "Direct Labor" be?
Particulars Standard Actual Output in units 1,200 units 1,100 units Variable overheads $6,000 $7,000 Labor hours 12,000 hours 18,000 hours Calculate Variable overhead expenditure variance Choose option: A) 2,000 (F) B) 2,000 (A) C) 9,000 (A) D) 9,000 (F)
Overheads cost analysisRProduction 4 400 000Materials handling 1 000 000Set-up 1 050 000Quality control 1 900 000Materials procurement 400 000Cost driver analysisCost drivers Product A Product B TotalDirect labour hours 320 000 180 000 500 000Number of set-ups 420 280 700Materials movements 700 300 1 000Number of orders 1 300 700 2 000Number of inspections 1 140 760 1 900 Annual outputProduct A 200 000 unitsProduct B 100 000 units Use the information provided below to calculate the overhead cost per product using the followingcosting systems: Traditional Absorption Costing, using direct labour hours as the basis for allocation.…
A5
Planned amount A - 100 units, planned amount B - 160 units Actual amoint A - 80 units, actual amount B - 200 units Fixed overhead costs 60000$ Fixed overhead costs for the actual volume of product B ?
6
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