Q3. Consider the following data for two independent cases. Data refers to the month of November. Data provided below assumes standard costing as well as the use of a flexible budget for control of variable and fixed manufacturing overhead based on machine-hours. Case A Case B Fixed manufacturing OH incurred $27,000 $132,900 Variable manufacturing OH incurred $10,511 Denominator level in machine-hours 5,500 45,000 Standard machine-hours allowed for actual output achieved 4,700 ? Fixed manufacturing OH per standard machine-hour ? Flexible-Budget Data: Variable manufacturing OH per standard machine-hour $2.10 Budgeted Fixed manufacturing OH $23,375 $130,500 Budgeted Variable manufacturing OH for standard machine-hours allowed for actual output produced Total budgeted manufacturing OH for standard machine-hours allowed for actual output produced 33,715 Additional Data: Standard variable manufacturing OH allocated $10,340 Standard fixed manufacturing OH allocated $19,975 Production-volume variance $3,400 S580 F Variable manufacturing OH spending variance S457 U $1,490 F Variable manufacturing OH efficiency variance $1,680 F Fixed manufacturing OH spending variance $3,625 U* Actual machine-hours uses Required: You are required to fill in the blanks. For each blank you filled, you must provide supporting calculations.
Q3. Consider the following data for two independent cases. Data refers to the month of November. Data provided below assumes standard costing as well as the use of a flexible budget for control of variable and fixed manufacturing overhead based on machine-hours. Case A Case B Fixed manufacturing OH incurred $27,000 $132,900 Variable manufacturing OH incurred $10,511 Denominator level in machine-hours 5,500 45,000 Standard machine-hours allowed for actual output achieved 4,700 ? Fixed manufacturing OH per standard machine-hour ? Flexible-Budget Data: Variable manufacturing OH per standard machine-hour $2.10 Budgeted Fixed manufacturing OH $23,375 $130,500 Budgeted Variable manufacturing OH for standard machine-hours allowed for actual output produced Total budgeted manufacturing OH for standard machine-hours allowed for actual output produced 33,715 Additional Data: Standard variable manufacturing OH allocated $10,340 Standard fixed manufacturing OH allocated $19,975 Production-volume variance $3,400 S580 F Variable manufacturing OH spending variance S457 U $1,490 F Variable manufacturing OH efficiency variance $1,680 F Fixed manufacturing OH spending variance $3,625 U* Actual machine-hours uses Required: You are required to fill in the blanks. For each blank you filled, you must provide supporting calculations.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Q3. Consider the following data for two independent cases. Data refers to the month of November. Data provided below assumes standard costing
as well as the use of a flexible budget for control of variable and fixed manufacturing overhead based on machine-hours.
Case A
Case B
Fixed manufacturing OH incurred
$27,000
$132,900
Variable manufacturing OH incurred
$10,511
Denominator level in machine-hours
5,500
45,000
Standard machine-hours allowed for actual output achieved
4,700
Fixed manufacturing OH per standard machine-hour
?
Flexible-Budget Data:
Variable manufacturing OH per standard machine-hour
?
$2.10
Budgeted Fixed manufacturing OH
$23,375
$130,500
Budgeted Variable manufacturing OH for standard machine-hours
allowed for actual output produced
Total budgeted manufacturing OH for standard machine-hours
allowed for actual output produced
33,715"
?
Additional Data:
Standard variable manufacturing OH allocated
$10,340
Standard fixed manufacturing OH allocated
$19,975
Production-volume variance
$3,400*
$580 F
Variable manufacturing OH spending variance
$457 U
$1,490 F
Variable manufacturing OH efficiency variance
?
$1,680 F
Fixed manufacturing OH spending variance
$3,625
U*
Actual machine-hours uses
?
Required:
You are required to fill in the blanks. For each blank you filled, you must provide supporting calculations.
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