Selena Company applies overhead based on direct labor hours and has the ollowing available for November: Standard: Direct labor hours (DLH) per unit Variable overhead per DLH Fixed overhead per DLH (based on 8,900 DLH) Actual Units produced Direct labor hours Variable overhead 1,800 8,900 $6,400 5 $0.75 $1.9⁹0

Selena Company applies overhead based on direct labor hours and has the ollowing available for November: Standard: Direct labor hours (DLH) per unit Variable overhead per DLH Fixed overhead per DLH (based on 8,900 DLH) Actual Units produced Direct labor hours Variable overhead 1,800 8,900 $6,400 5 $0.75 $1.9⁹0

Name: Selena Company applies overhead based on direct labor hours and has t
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Description: Selena Company applies overhead based on direct labor hours and has thefollowing available for November:Standard:Direct labor hours (DLH) per unitVariable overhead per DLHFixed overhead per DLH (based on 8,900 DLH)ActualUnits producedDirect labor ho

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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Marco Company shows the following costs for three jobs worked on in April. Job 306 $ 29,000 20,000 10,000 Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Predetermined overhead rate Overhead applied Required: 1. Determine the amount of overhead applied to each job in April. 306 135,000 85,000 ? 0.50 Finished (sold) 307 0.50 Job 307 Additional Information a. Raw Materials Inventory has a March 31 balance of $80,000. b. Raw materials purchases in April are $500,000, and total factory payroll cost in April is $363,000. c. Actual overhead costs incurred in April are indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, $19,000; and factory equipment depreciation, $51,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $635,000 cash in April. 308 $ 35,000 18,000…
A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. The company bases its variable manufacturing overhead standards on direct labor-hours. Standard hours per unit of output Standard variable overhead rate 4.90 DLHS $11.55 per DLH The following data pertain to operations for the last month: Actual direct labor-hours Actual total variable manufacturing overhead cost Actual output 8,400 DLHS $95,960 1,600 units What is the variable overhead efficiency variance for the month? Multiple Cholce S6,468 U $6.773 F ( Prev 10 of 10 IMc Graw Hill 10:56 AM 92 F AQI 61 10/5/2021 Type here to search DELL PgDn Home F12 PrtScr Insert Delete F9 F10 F11 F7 F8 F2 F3 F4 F5 F6 F1 Lock Backspace
/ext/map/index.html?_con=con&external_browser=0&launchU Direct materials (30 pounds @ $5.10 per pound) Direct labor (4 hours @ $15 per hour) Variable overhead (4 hours @ $6 per hour) Fixed overhead (4 hours $11 per hour) Standard cost per unit $ 153.00 60.00 24.00 44.00 $ 281.00 Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 68,000 units per quarter. The following additional information is available. Production (in units) Budgeted overhead (flexible budget) Standard direct labor hours (4 DLH per unit) Fixed overhead Variable overhead Operating Levels 70% 80% 98% 47,600 190,400 54,400 217,600 61,200 244,800 $ 2,393,600 $ 2,393,600 $2,393,600 $ 1,142,400 $ 1,305,600 $ 1,468,800 During the current quarter, the company operated at 90% of capacity and produced 61,200 units; actual direct labor totaled 239,800 hours. Units produced were assigned the following standard costs. Direct materials…
Acme Company uses a job-order costing system with a single plantwide predetermined overhead rate based on machine- hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Recently, Job T687 was completed with the following characteristics: Number of units in the job Total machine-hours Direct materials Direct labor cost 10 40 $710 $ 1,420 32,500 $ 455,000 $5
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Help Kunkel Company makes two products and uses a conventional costing system in which a single plantwide predetermined overhead rate is computed based on direct labor-hours. Data for the two products for the upcoming year follow: Mercon Wurcon Direct materials cost per unit $ 10.00 $ 8.00 Direct labor cost per unit $ 3.00 $ 3.75 Direct labor-hours per unit 0.20 0.25 Number of units produced 10,000 40,000 These products are customized to some degree for specific customers. Required: 1. The company's manufacturing overhead costs for the year are expected to be $336,000. Using the company's conventional costing system, compute the unit product costs for the two products. 2. Management is considering an activity-based costing system in which half of the overhead would continue to be allocated on the basis of direct labor-hours and half would be allocated on the basis of engineering design time. This time is expected to be distributed as…
Test yourself ABC Company is producing three products, A, B and C in Direct labor hours their unit. A В C 10,000 15,000 25,000 Number of orders 15 25 10 placed During the year 2019,the total overhead expenses Machine set up hours 150 300 50 are; Requirement 1. Calculated pre-determined overhead rate if overhead is applied based on the direct labor hours .Compute overhead rates using activity based costing. Determine the difference in the amount of overhead allocated to each Procurement cost RO200,000 Machine set up cost RO100,000 product between the two methods.
Direct labor 17 per unit 11 per unit 2$ Direct materials 24 Overhead Total variable overhead Total fixed overhead Expected units to be produced $ 30,000 $100, e00 50,e00 units Product cost per unit under absorption costing
COTB MC Qu. 10-69 (Algo) Assume the following information appears in... Assume the following information appears in the standard cost card for a company that makes only one product: Standard Quantity or Hours Standard Price or Rate 5 pounds $11.00 per pound 2 hours $17.00 per hour 2 hours. $ 3.00 per hour Direct materials Direct labor Variable manufacturing overhead During the most recent period, the following additional information was available: 20,800 pounds of material was purchased at a cost of $10.50 per pound. . All of the material that was purchased was used to produce 3,900 units. . • 8,000 direct labor-hours were recorded at a total cost of $132,000. . What is the direct materials price variance? Multiple Choice $10,400 F $9,750 F $9,750 U $10,400 U Standard Cost $ 55.00 $ 34.00 $ 6.00
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2. The following information relates to the manufacturing operations of Delicious Co. during the month of January. The company uses job order costing. Please do the following journal entries. a) Purchases of direct materials on account during the month amount to $45000 Debit Credit Db Cr www b) Materials used by the Production Department during the month total $40000 Debit Credit Db Cr c) Time cards of direct workers show 1200 hours worked on various jobs during the month for $20 per hour Calculations: Debit Credit Db Cr d) Direct workers were paid $20000 in January Debit Credit Db Cr