Required information [The following information applies to the questions displayed below.] Manuel Company predicts it will operate at 80% of its productive capacity. Its overhead allocation base is DLH and its standard amount per allocation base is 0.5 DLH per unit. The company reports the following for this period. Production (in units). Overhead. Variable overhead Fixed overhead Total overhead Flexible Budget at 80% Capacity 52,750 $ 290, 125 52,750 $ 342,875 Standard overhead rate. 2. Standard overhead applied 3. Overhead variance Actual Results 48,400 $341,300 1. Compute the standard overhead rate. Hint: Standard allocation base at 80% capacity is 26,375 DLH, computed as 52,750 units x 0.5 DLH per unit. 2. Compute the standard overhead applied. 3. Compute the total overhead variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.)

Required information [The following information applies to the questions displayed below.] Manuel Company predicts it will operate at 80% of its productive capacity. Its overhead allocation base is DLH and its standard amount per allocation base is 0.5 DLH per unit. The company reports the following for this period. Production (in units). Overhead. Variable overhead Fixed overhead Total overhead Flexible Budget at 80% Capacity 52,750 $ 290, 125 52,750 $ 342,875 Standard overhead rate. 2. Standard overhead applied 3. Overhead variance Actual Results 48,400 $341,300 1. Compute the standard overhead rate. Hint: Standard allocation base at 80% capacity is 26,375 DLH, computed as 52,750 units x 0.5 DLH per unit. 2. Compute the standard overhead applied. 3. Compute the total overhead variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.)

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Description: Required information[The following information applies to the questions displayed below.]Manuel Company predicts it will operate at 80% of its productive capacity. Its overhead allocation base is DLH and itsstandard amount per allocation base is 0.5

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Manuel Company predicts it will operate at 80% of its productive capacity. Its overhead allocation base is DLH and its standard amount per allocation base is 0.5 DLH per unit. The company reports the following for this period. Flexible Budget at 80% Capacity Actual Results Production (in units) 54,750 51,600 Overhead Variable overhead $ 301,125 Fixed overhead 54,750 Total overhead $ 355,875 $ 367,700 1. Compute the standard overhead rate. Hint: Standard allocation base at 80% capacity is 27,375 DLH, computed as 54,750 units × 0.5 DLH per unit.2. Compute the standard overhead applied.3. Compute the total overhead variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.)
! Required information [The following information applies to the questions displayed below.] Manuel Company predicts it will operate at 80% of its productive capacity. Its overhead allocation base is DLH and its standard amount per allocation base is 0.5 DLH per unit. The company reports the following for this period. Production (in units) Overhead Variable overhead Fixed overhead Total overhead Flexible Budget at 80% Capacity 54,750 $ 301,125 54,750 $ 355,875 Actual Results 51,600 $ 367,700 (1) Compute the overhead volume variance. Indicate variance as favorable or unfavorable. (2) Compute the overhead controllable variance. Indicate variance as favorable or unfavorable. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the overhead volume variance. Indicate variance as favorable or unfavorable. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Volume Variance Volume variance
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Q1. Prepare a Flexible budget for overheads on the basis of the following data. Ascertain the overhead rates at 70% and 80% capacity. Variable Overheads (60% capacity) Indirect Material = Rs. 6,000 Labour Rs. 18,000 Semi-variable overheads: Electricity (40% fixed) = Rs. 40,000 Repairs (80% fixed) = Rs. 2,400 Fixed Overheads: Depreciation Rs. 16,500 Insurance Rs. 4,500 Salaries= Rs. 20,000 Estimated Labour Hours 15,000 hrs H =
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View Policies Current Attempt in Progress The predetermined overhead rate for Crane Company is $4, comprised of a variable overhead rate of $2 and a fixed rate of $2. The amount of budgeted overhead costs at normal capacity of $120000 was divided by normal capacity of 30000 direct labor hours, to arrive at the predetermined overhead rate of $4. Actual overhead for June was $8600 variable and $5900 fixed, and 2000 units were produced. The direct labor standard is 2 hours per unit produced. The total overhead variance is $2000 F. $1500 F. $1500 U. $2000 U.
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0 Required information [The following information applies to the questions displayed below] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct materials: 5 pounds at $11 per pound Direct labor: 3 hours at $12 per hour $ 55 36 Variable overhead: 3 hours at $7 per hour 21 Total standard cost per unit $ 112 The planning budget for March was based on producing and selling 21,000 units. However, during March the company actually produced and sold 26,600 units and incurred the following costs: a. Purchased 154,000 pounds of raw materials at a cost of $9.50 per pound. All of this material was used in production. b. Direct laborers worked 63,000 hours at a rate of $13 per hour. c. Total variable manufacturing overhead for the month was $510,930. 5. If Preble had purchased 178,000 pounds of materials at $9.50 per pound and used 154,000 pounds in production,…
Paragraph Styles Question 1: WPC Company's Budget and actual costs per unit are provided below for the most recent period. During this period, 700 units were actually produced. Product Product Standard Cost Actual Cost Materials Unit Price Per Metre $2.00 $2.20 Metres Standard $10.00 Actual 5.2 $11.44 Direct labour Hours Hourly Rate $50 $5.50 Standard 3. $15.00 Actual 3.2 $17.60 Variable overhead Hours Hourly Rate Standard 4 $3.00 $12.00 $3.10 $13.02 Actual 4.2 Total unit cost $37.00 $42.06 Required: Given the information above, compute the following variances. Also indicate if the variances are favorable or unfavorable.
[The following information applies to the questions displayed below.] Manuel Company predicts it will operate at 80% of its productive capacity. Its overhead allocation base is DLH and its standard amount per allocation base is 0.5 DLH per unit. The company reports the following for this period. Production (in units) Overhead Variable overhead Fixed overhead Total overhead Flexible Budget at 80% Capacity 51,000 Required 1 Required 2 $ 280,500 51,000 $ 331,500 Actual Results (1) Compute the overhead volume variance. Indicate variance as favorable or unfavorable. Volume variance 45,600 (2) Compute the overhead controllable variance. Indicate variance as favorable or unfavorable. $ 318,200 Complete this question by entering your answers in the tabs below. Volume Variance Compute the overhead volume variance. Indicate variance as favorable or unfavorable. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no vari
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