Required: Complete the Production Department's Flexible Budget Performance Report. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Round "rate per hour" answers to 2 decimal places.)
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- please answer do not image format and working noteI. Krueger Corporation in Washington, D.C., U.S., recently implemented a standard cost system. The company's cost accountant has gathered the following information needed to perform a variance analysis at the end of the month: Standard Cost Information Direct materials.... Quantity allowed per unit . Direct labor rate..... Hours allowed per unit .. Fixed overhead budgeted . Normal level of production .. Variable overhead application rate . Fixed overhead application rate ($12,000 _ 1,200 units)... 10.00 per unit Total overhead application rate.. $5 per pound .100 pounds per unit $20.00 per hour 2 hours per unit $12,000 per month . 1,200 units $ 2.00 per unit $12.00 per unit Actual Cost Information Cost of materials purchased and used ... Pounds of materials purchased and used . Cost of direct labor .... $468,000 .104,000 pounds $46,480 2,240 hours Hours of direct labor.. arre$2,352 .$12,850 Cost of variable overhead . Cost of fixed overhead . Volume of production ..1,000 units…DO NOT GIVE ANSWER IN IMAGE FORMAT
- Krueger Corporation in Washington, D.C., U.S., recently implemented a standard cost system. The company's cost accountant has gathered the following information needed to perform a variance analysis at the end of the month: Standard Cost Information Direct materials.... Quantity allowed per unit . Direct labor rate .... Hours allowed per unit.. Fixed overhead budgeted Normal level of production Variable overhead application rate Fixed overhead application rate ($12,000 _ 1,200 units) . .. 10.00 per unit Total overhead application rate.. $5 per pound .100 pounds per unit $20.00 per hour 2 hours per unit $12,000 per month . 1,200 units $ 2.00 per unit $12.00 per unit Actual Cost Information Cost of materials purchased and used .... Pounds of materials purchased and used. Cost of direct labor.... $468,000 .104,000 pounds $46,480 2,240 hours Hours of direct labor . anr$2,352 .$12,850 .1,000 units Cost of variable overhead . Cost of fixed overhead . Volume of production . Instructions 1.…Information on Grixdale Partner's fixed overhead costs follows: Overhead applied $ 1,227,800 Actual overhead 1,153,200 Budgeted overhead 1,207,000 Required: What are the fixed overhead price and production volume variances? Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.Primara Corporation has a standard costing system in which it applies overhead to products on the basis of the standard direct labour- hours allowed for the actual output of the period. Data concerning the most recent year appear below: Total budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted standard direct labour-hours (denominator level of activity) Actual direct labour-hours Standard direct labour-hours allowed for the actual output $ 500,000 $ 508,000 50,000 54,000 52,000 Required: 1. Compute the fixed portion of the predetermined overhead rate for the year. Predetermined overhead rate per DLH
- Please answer step by step with full explanation.Required: 2. Complete the performance report that will help Mr. Weston's superiors assess how well costs were controlled in machinin- department. (Round your intermediate calculations to 2 decimal places. Indicate the effect of each variance by ting "F" favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive value Freemont Corporation-Machining Department Flexible Budget Performance Report For the Month Ended June 30 Revenue and Spending Variances Actual Flexible Activity Variances Planning Budget Results Budget Machine-hours 42,000 42,000 40,000 Direct labor wages $ 85,700 F 2$ 83,200 Supplies 26,800 1,180 U 25,620 24,400 Maintenance 25,200 22,380 22,100 Utilities 22,900 1,650 U 21,250 20,900 Supervision 52,000 O None 52,000 None 52,000 Depreciation 89,000 O None O None 89,000 Total $ 301,600 $ 291,600Following information has been obtained from the records of a manufacturing organisation using the standard costing system. Standard Actual Production (units) Working days Fixed overheads ($) Variable overheads ($) 4,000 3,800 20 21 40,000 39,000 12,000 12,000 You are required to calculate the following overhead variances : (1) (1I) Fixed overhead variances : (a) Expenditure variances; (b) Volume Variances; (c) Efficiency variances; (d) Calendar variances. Variable overheads variance;
- The following information is available for Sheridan's Hot Dogs: Actual production Budgeted production Standard direct labor hours Actual direct labor hours Standard variable overhead rate Actual variable overhead costs 12,270 packages 12,500 packages 1.2 Variable overhead spending variance 15,776 $54,264 Variable overhead efficiency variance $4 per direct labor hour Calculate the variable overhead spending and efficiency variances. (Round answers to O decimal places, e.g. 125. If variance is zero, select "Not Applicable" and enter O for the amounts.) direct labor hours per package tA tAFor each of the following independent cases, fill in the missing amounts: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your per unit rates to 2 decimal places. Round your other final answers to the nearest whole numbers. Units produced Standard hours per unit Standard hours Standard rate per hour Actual hours worked Actual labor cost Direct labor rate variance Direct labor efficiency variance Casey Company 2,800 5.10 $ $ 31.70 13,500 5,200 F Kevin, Incorporated $ $ 1.70 2,890 3,005 2,900 F 1,518 U $ $ $ Jess Company 200 660 10.00 6,500 200 U Valerie, Incorporated $ 1,000 10.00 15,200 $ 140,000 $ 5,800 URequired information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs per unit for its product. Direct materials (3.0 pounds @ $4.00 per pound) Direct labor (1.8 hours @ $12.00 per hour) $ 12.00 21.60 33.30 Overhead (1.8 hours @ $18.50 per hour) Standard cost per unit $ 66.90 The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials $ 15,000 Indirect labor 75,000 Power 15,000 Maintenance 30,000 135,000 Total variable overhead costs Fixed overhead costs Depreciation-Building 24,000 70,000 Depreciation-Machinery Taxes and insurance 16,000 Supervisory salaries 254,500 Total fixed overhead costs 364,500