Radiant Systems allocates manufacturing overhead based on machine hours. Each connector should require 13 machine hours. According to the static budget, Radiant expected to incurthe following(Click the icon to view the static budget Information.)During August, Radiant actually used 400 machihe hours to make 130 connectors and spent $5,500 in variable manufacturing costs and $9,100 in fixed manufacturing overhead costs.Calculate the variable overhead cost variance for RadiantOA. $2,850 FOB. $6,450 FData tableOc. $9,950 FOD. $3,500 U1,300 machine hours per month (100 connectors x 13 machine hours perconnector$6,500 in variable manufacturing overhead costs$7,535 in fixed manufacturing overhead costsPrintDone- X

Step 1:Understanding of variable overhead cost variance:- Variable overhead cost variance is a…

Answered: Radiant Systems allocates manufacturing…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

( Robinwood Fixtures manufactures two products, K4 and X7. The company prepares its master budget on the basis of standard costs. The following data are for September: Standards Direct materials Direct labor Variable overhead (per direct labor-hour) Fixed overhead (per month) Expected activity (direct labor-hours) Actual results Direct material (purchased and used) Direct labor Variable overhead Fixed overhead Units produced (actual) Direct materials Direct labor Variable overhead Fixed overhead Price Variance $ 20.60 $415,680 17,320 0.75 pounds at $7.40 per pound. 1.25 hours at $25.40 per hour $ 319,060 $ 383,740 K4 10,000 pounds at $6.80 per pound 14,770 hours at $25.70 per hour K4 12,140 units Required: a. Prepare a variance analysis for each variable cost for each product. b. Prepare a fixed overhead variance analysis for each product. Note: For all requirements, Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for…
Please help me
Geovanni Inc. uses standard costs to prepare its flexible budget. Standard and actual costs data for manufacturing overhead for producing 5,000 units of product are as follows: Standard and actual costs data for manufacturing overhead Costs Rate Allocation base per unit Variable overhead $8 per direct labor hour 2 hours Fixed overhead (based on 12,000 hours at 100% capacity) $3 per direct labor hour 2 hours Actual total overhead costs are as follows: Actual Total Overhead Costs Costs Amounts Total variable overhead costs $58,000 Total fixed overhead costs $20,000 Compute the fixed overhead cost variance. Group of answer choices -$7,000 favorable $10,000 unfavorable -$10,000 favorable $18,000 unfavorable
Your answer is partially correct. Indigo Company uses a flexible budget for manufacturing overhead based on direct labor hours. Budgeted variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities $1.10 0.80 0.50 Budgeted fixed overhead costs per month are Supervision $4,800, Depreciation $1,440, and Property Taxes $960. The company believes it will normally operate in a range of 8,400-12,000 direct labor hours per month. Prepare a monthly manufacturing overhead flexible budget for 2022 for the expected range of activity, using increments of 1,200 direct labor hours. (List variable costs before fixed costs.)
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows: Indirect labor Indirect materials Utilities $1.00 0.70 0.40 Fixed overhead costs per month are Supervision $4,000, Depreciation $1,200, and Property Taxes $800. The company believes it will normally operate in a range of 7,000-10.000 direct labor hours per month. Prepare a monthly manufacturing overhead flexible budget for 2020 for the expected range of activity, using increments of 1.000 direct labor hours. (List variable costs before fixed costs)
Kerekes Manufacturing Corporation has prepared the following overhead budget for next month. Activity level 2,200 machine-hours Variable overhead costs: Supplies Indirect labor Fixed overhead costs: Supervision Utilities Depreciation Total overhead cost Multiple Choice The company's variable overhead costs are driven by machine-hours. What would be the total budgeted overhead cost for next month if the activity level is 2,100 machine-hours rather than 2,200 machine-hours? (Round your intermediate calculations to 2 decimal places.) O $54,560 $53,330 $52,770 $ 9,240 17,820 $52,080 15,300 5,600 6,600 $ 54,560
Light It Up, Inc. manufactures lamps. The production budget shows that Light It Up plans to produce 3,600 lamps in June and 2,800 lamps in July. Each lamp requires 0.50 direct labor hours in its production. Light It Up has a direct labor rate of $19 per direct labor hour. What is the total combined direct labor cost that Light It Up should budget for June and July? $60,800 $13,300 $30,400 $17,100
Please help me. Thankyou.
Becker Bikes manufactures tricycles. The company expects to sell 380 units in May and 510 units in June. Beginning and ending finished goods for May are expected to be 110 and 75 units, respectively. June's ending finished goods are expected to be 85 units. The company's variable overhead is $4.00 per unit produced and its fixed overhead is $4,500 per month. Compute Becker's manufacturing overhead budget for May and June. Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. Budgeted manufacturing overhead May June
Petrus Framing's cost formula for its supplies cost is $1,790 per month plus $10 per frame. For the month of March, the company planned for activity of 619 frames, but the actual level of activity was 624 frames. The actual supplies cost for the month was $8,500. The activity variance for supplies cost in March would be closest to:
Thornton Hats Corporation manufactures three different models of hats: Vogue, Beauty, and Glamour. Thornton expects to incur $648,000 of overhead cost during the next fiscal year. Other budget information follows. Vogue Beauty Glamour 5,000 1,300 Total Direct labor hours Machine hours 7,000 6,000 18,000 1,800 1,400 4,500 Required a. Use direct labor hours as the cost driver to compute the allocation rate and the budgeted overhead cost for each product. b. Use machine hours as the cost driver to compute the allocation rate and the budgeted overhead cost for each product.
Solomon Hats Corporation manufactures three different models of hats: Vogue, Beauty, and Glamour. Solomon expects to incur $640,000 of overhead cost during the next fiscal year. Other budget information follows. Vogue Beauty Glamour Total Direct labor hours 4,600 6,600 4,800 16,000 Machine hours 1,200 2,300 2,900 6,400 Use direct labor hours as the cost driver to compute the allocation rate and the budgeted overhead cost for each product. Use machine hours as the cost driver to compute the allocation rate and the budgeted overhead cost for each product.

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS