Spree Party Lights overhead expenses are:Indirect material, pounds per unitIndirect material, cost per poundIndirect labor hoursIndirect labor rate per hourVariable maintenance per unitVariable utilities per unitSupervisor salariesMaintenance salariesInsuranceDepreciationUnits to ProduceVariable CostsIndirect MaterialIndirect LaborMaintenancePrepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,400, 3,100, and 2,800, respectively.Spree Party LightsManufacturing Overhead BudgetFor the Quarter Ending January - MarchJanuaryFebruary2,4003,100UtilitiesTotal Variable Manufacturing CostsFixed Costs0.30Supervisory SalariesMaintenance SalariesInsuranceDepreciationTotal Fixed Manufacturing CoatsTotal Manufacturing Overhead$2$16.50$0.75$0.20$11,000$9,000$3,000$1,6001,44030,5001.190011,0005,0003,0001,50024,60067,0201,86051,15062053,95511,0009,0003,0001,00024,40010,355March2,18001,08046,2002,10050,54011,0009,0003,0001,00024,60075.050

Name: Spree Party Lights overhead expenses are:Indirect material, pounds pe
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Spree Party Lights overhead expenses are:Indirect material, pounds per unitIndirect material, cost per poundIndirect labor hoursIndirect labor rate per hourVariable maintenance per unitVariable utilities per unitSupervisor salariesMaintenance salari

VARIABLE COST Variable Cost is a cost that varies with the level of output. variable costs include…

Business

Accounting

Spree Party Lights overhead expenses are: Indirect material, pounds per unit Indirect material, cost per pound Indirect labor hours Indirect labor rate per hour Variable maintenance per unit Variabletti per unit Supervisor salaries Maintenance salaries Insurance Depreciation Units to Produce Variable Costs Indirect Material Total Variable Manufacturing Costs Fixed Costs Prepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,400, 3,100, and 2,500, respectively. Spree Party Lights Manufacturing Overhead Budget For the Quarter Ending January - March Maintenance Salaries 0.30 $2 Depreciation Total Fixed Manufacturing Costs Total Manufacturing Overhead 1 $16.50 $0.75 $0.20 $11,000 $9,000 $3,000 $1,000 January February March 2.400 3,100 90000 30,000 1.300 11,000 SUKID 3,000 1000 24,000 1,860 31,150 2.325 11,000 9,000 3,000 24,600 0,555 2.300 46.200 2.300 SGD 11.000 SLADD 3.000 1000 24.000 750150

Spree Party Lights overhead expenses are: Indirect material, pounds per unit Indirect material, cost per pound Indirect labor hours Indirect labor rate per hour Variable maintenance per unit Variabletti per unit Supervisor salaries Maintenance salaries Insurance Depreciation Units to Produce Variable Costs Indirect Material Total Variable Manufacturing Costs Fixed Costs Prepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,400, 3,100, and 2,500, respectively. Spree Party Lights Manufacturing Overhead Budget For the Quarter Ending January - March Maintenance Salaries 0.30 $2 Depreciation Total Fixed Manufacturing Costs Total Manufacturing Overhead 1 $16.50 $0.75 $0.20 $11,000 $9,000 $3,000 $1,000 January February March 2.400 3,100 90000 30,000 1.300 11,000 SUKID 3,000 1000 24,000 1,860 31,150 2.325 11,000 9,000 3,000 24,600 0,555 2.300 46.200 2.300 SGD 11.000 SLADD 3.000 1000 24.000 750150

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

Miguez Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 2.3 liters $ 7.00 per liter $ 16.10 Direct labor 0.7 hours $ 22.00 per hour $ 15.40 Variable overhead 0.7 hours $ 2.00 per hour $ 1.40 The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours to produce this output. The company purchased 5,800 liters of the direct material at $7.20 per liter. The actual direct labor rate was $24.10 per hour and the actual variable overhead rate was $1.90 per hour. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The labor rate variance for September is: Multiple Choice $3,675 F $3,528 U $3,528 F $3,675 U
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- $ 22.60 hour) Fixed overhead (per month) Expected activity (direct labor-hours) Actual resulta Direct material (purchased and used) Direct labor Variable overhead Fixed overhead Units produced (actual) pounds at 0.75 $9.40 per pound hours at 1.25 $27.40 per hour K4 $ 418,080 17,420 pounds at 11,000 $8.80 per pound hours at 14,870 $27.70 per hour $ 359,060 $ 393,740 12,340 units X7 pound at 1 $10.00 per pound 1.50 $24.40 $ 494,970 23,570 hours at $30 per hour pounds at 14,270 $10.30 per pound hours at 22,370 $34.00 per hour $ 471,212 $ 491,960 14,570 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…
The measure of activity in the standard costing system used at Esta GmbH is machining hours. The company's flexible manufacturing overhead budget and then data regarding the most recent period's operations are given below: Flexible Budget: Budgeted Level of Activity: 6,600 machining hours Overhead costs at the Budgeted activity level: Variable Overhead Cost: $17,226 Fixed Overhead Cost: $13,992 Most Recent period's operations: Actual level of activity: 7,200 machining hours Standard level of activity for output: 7,140 machining hours Actual total variable overhead cost: $17,856 Actual total fixed overhead cost: $14,256 PART A What is the variable overhead rate variance? (936 favorable, 481 unfavorable, 630 unfavorable, 779 favorable, OR 2,267 favorable) PART B What is the variable overhead efficiency variance? (157 unfavorable, 1409 unfavorable, 1566 unfavorable, 1488 unfavorable, OR 149 unfavorable) PART C What is the fixed overhead budget variance? (264 unfavorable, 1272…
hh
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)
The following information relates to Modern, Inc.'s overhead costs for the month: Time Runn Attempt due 2 Hours, & Static budget variable overhead $8,000 24/7 Pro Static budget fixed overhead $4,000 Static budget direct labor hours 1,300 R Liv Static budget number of units to be produced 5,000 Modern allocates manufacturing overhead to production based on standard direct labor hours. Last month, Modern reported the following actual results: actual variable overhead $11,000 actual fixed overhead $3,000 actual direct labor hours 1,400 actual number of units produced 7,000 For the month, Modern's variable overhead efficiency variance is (Round your answer to the nearest whole dollar.)
Factory Overhead Cost Budget Sweet Tooth Candy Company budgeted the following costs for anticipated production for August: Advertising expenses Manufacturing supplies Power and light Sales commissions Factory insurance Production supervisor wages Production control wages Executive officer salaries Materials management wages Factory depreciation Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only fixed factory costs. $297,290 16,290 48,600 328,580 28,300 142,930 37,160 303,010 40,880 23,150 Sweet Tooth Candy Company Factory Overhead Cost Budget For the Month Ending August 31 Variable factory overhead costs: Total variable factory overhead costs Fixed factory overhead costs: Total fixed factory overhead costs Total factory overhead costs
Miguez Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 4.0 liters 0.7 hours 0.7 hours Standard Price or Rate $ 8.70 per liter $ 39.00 per hour $ 3.70 per hour Standard Cost Per Unit $ 34.80 $ 27.30 $ 2.59 The company budgeted for production of 4,300 units in September, but actual production was 4,200 units. The company used 7,140 liters of direct material and 1,850 direct labor-hours to produce this output. The company purchased 7,500 liters of the direct material at $8.90 per liter. The actual direct labor rate was $41.10 per hour and the actual variable overhead rate was $3.60 per hour. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead rate variance for September is: Multiple Choice О $294 F О О о $185 U $185 F $294 U
Bugaboo Co. manufactures three types of cookies: Fluffs, Crinkles, and Snaps. The production process is relatively simple, and factory overhead costs are allocated to products using a single plantwide factory overhead rate based on direct labor hours. Information for the month of May, Bugaboo's first month of operations, follows: BudgetedUnit Volume Direct LaborHours Per Unit Fluffs 80,000 boxes 0.10 Crinkles 60,000 boxes 0.20 Snaps 20,000 boxes 0.50 Bugaboo has budgeted direct labor costs for May at $8.50 per hour. Budgeted direct materials costs for May are: Fluffs, $0.75/unit; Crinkles $0.40/unit; and Snaps $0.30/unit. Bugaboo's budgeted overhead costs for May are: Indirect labor $280,000 Utilities 65,000 Supplies 45,000 Depreciation 30,000 Total $420,000 i need to find the plantwide factory overhead rate per direct labor hour, the product cost for each cookie type
Tharaldson Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 7.1 ounces 0.2 hours 0.2 hours Standard Price or Rate Standard Cost Per Unit $ 28.40 $ 4.00 per ounce $ 11.00 per hour $ 2.20 $ 4.00 per hour $ 0.80 The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production 2,500 units 3,000 units 21,500 ounces Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 22,500 ounces 560 hours $ 45,100 $ 12,500 $ 3,250 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The labor rate variance for June is: Multiple Choice $306 F $6.340 U $306 U $6,340 F
rpóration makes a product with the following standards for direct labor and variable overhead: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct labor 0.3 hours $ 14.00 per hour $ 5.00 per hour $ 4.20 $ 1.50 Variable overhead 0.3 hours In November the company's budgeted production was 5,300 units, but the actual production was 5,100 units. The company used 1,650 direct labor-hours to produce this output. The actual variable overhead cost was $7,590. The company applies variable overhead on the basis of direct labor-hours. The variable overhead efficiency variance for November is: Multiple Choice $552 F $600 U $552 U $600 F
The following information relates to Steele Manufacturing's overhead costs for the month: Static budget variable overhead $35,900 Static budget fixed overhead $15,600 Static budget direct labor hours 15,400 hours Static budget number of units 5,500 units Steele allocates variable manufacturing overhead to production based on standard direct labor hours. Steele reported the following actual results for last month: actual variable overhead, $35,400;actual fixed overhead, $15,400; actual production of 5,400 units at 2.4 direct labor hours per unit. The standard direct labor time is 2.8 direct labor hours per unit. Compute the variable overhead efficiency variance. (Round the answer to the nearest dollar.) A. $4,474 U B. $5,033 U C. $4,474 F D. $5,033 F