PR 11-8 (LO 11.1, 11.2, 11.3, 11.5, 11.6) You are the cost accountant for... You are the cost accountant for Porch Perfection, a fictious company, that manufactures porch swings. You have summarized the following manufacturing overhead data for the last period. Actual Costs Incurred Variable Overhead $ 93,500 Flexible Budget $ 92,000 Cost Allocation Fixed Overhead $ 355,000 $ 350,000 $ 90,000 $ 355,000 1,400 1.50 Budgeted Number of Output Units Planned Allocation Rate (machine hours per unit) Actual Number of Machine Hours Used Static-budget Variable Manufacturing Overhead Costs Required: Calculate each of the following items. a. Budgeted Machine Hours b. Budgeted Fixed Manufacturing overhead costs per swing 2,450 $ 92,000 c. Budgeted variable Manufacturing overhead costs per swing Note: Round your answer to 2 decimal places. d. Actual number of swings produced e. Budgeted number of machine-hours allocated for actual number of swings produced f. Actual number of machine-hours per swing Note: Round your answer to 2 decimal places. machine-hours swings machine-hours machine-hours
PR 11-8 (LO 11.1, 11.2, 11.3, 11.5, 11.6) You are the cost accountant for... You are the cost accountant for Porch Perfection, a fictious company, that manufactures porch swings. You have summarized the following manufacturing overhead data for the last period. Actual Costs Incurred Variable Overhead $ 93,500 Flexible Budget $ 92,000 Cost Allocation Fixed Overhead $ 355,000 $ 350,000 $ 90,000 $ 355,000 1,400 1.50 Budgeted Number of Output Units Planned Allocation Rate (machine hours per unit) Actual Number of Machine Hours Used Static-budget Variable Manufacturing Overhead Costs Required: Calculate each of the following items. a. Budgeted Machine Hours b. Budgeted Fixed Manufacturing overhead costs per swing 2,450 $ 92,000 c. Budgeted variable Manufacturing overhead costs per swing Note: Round your answer to 2 decimal places. d. Actual number of swings produced e. Budgeted number of machine-hours allocated for actual number of swings produced f. Actual number of machine-hours per swing Note: Round your answer to 2 decimal places. machine-hours swings machine-hours machine-hours
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Vishnu
Transcribed Image Text:PR 11-8 (LO 11.1, 11.2, 11.3, 11.5, 11.6) You are the cost accountant for...
You are the cost accountant for Porch Perfection, a fictious company, that manufactures porch swings. You have summarized the
following manufacturing overhead data for the last period.
Actual Costs Incurred
Variable Overhead
$ 93,500
Flexible Budget
$ 92,000
Cost Allocation
Fixed Overhead
$ 355,000
$ 350,000
$ 90,000
$ 355,000
1,400
1.50
Budgeted Number of Output Units
Planned Allocation Rate (machine hours per unit)
Actual Number of Machine Hours Used
Static-budget Variable Manufacturing Overhead Costs
Required:
Calculate each of the following items.
a. Budgeted Machine Hours
b. Budgeted Fixed Manufacturing overhead costs per swing
2,450
$ 92,000
c. Budgeted variable Manufacturing overhead costs per swing Note: Round your answer to 2
decimal places.
d. Actual number of swings produced
e. Budgeted number of machine-hours allocated for actual number of swings produced
f. Actual number of machine-hours per swing Note: Round your answer to 2 decimal places.
machine-hours
swings
machine-hours
machine-hours
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