Spree Party Lights overhead expenses are: Indirect material, pounds per unit 0.25 Indirect material, cost per pound $2 Indirect labor hours 1 Indirect labor rate per hour $16.00 Variable maintenance per unit $0.70 Variable utilities per unit $0.20 Supervisor salaries $10,000 Maintenance salaries $9,000 Insurance $4,000 Depreciation $1,500 Prepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,400, 2,900, and 2,700, respectively. Spree Party Lights Manufacturing Overhead Budget For the Quarter Ending January - March January February March Units to Produce fill in the blank 1 fill in the blank 2 fill in the blank 3 Variable Costs Indirect Material $fill in the blank 5 $fill in the blank 6 $fill in the blank 7 Indirect Labor fill in the blank 9 fill in the blank 10 fill in the blank 11 Maintenance fill in the blank 13 fill in the blank 14 fill in the blank 15 Utilities fill in the blank 17 fill in the blank 18 fill in the blank 19 Total Variable Manufacturing Costs $fill in the blank 20 $fill in the blank 21 $fill in the blank 22 Fixed Costs Supervisory Salaries $fill in the blank 24 $fill in the blank 25 $fill in the blank 26 Maintenance Salaries fill in the blank 28 fill in the blank 29 fill in the blank 30 Insurance fill in the blank 32 fill in the blank 33 fill in the blank 34 Depreciation fill in the blank 36 fill in the blank 37 fill in the blank 38 Total Fixed Manufacturing Costs $fill in the blank 39 $fill in the blank 40 $fill in the blank 41 Total Manufacturing Overhead $fill in the blank 42 $fill in the blank 43 $fill in the blank 44
Spree Party Lights overhead expenses are: Indirect material, pounds per unit 0.25 Indirect material, cost per pound $2 Indirect labor hours 1 Indirect labor rate per hour $16.00 Variable maintenance per unit $0.70 Variable utilities per unit $0.20 Supervisor salaries $10,000 Maintenance salaries $9,000 Insurance $4,000 Depreciation $1,500 Prepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,400, 2,900, and 2,700, respectively. Spree Party Lights Manufacturing Overhead Budget For the Quarter Ending January - March January February March Units to Produce fill in the blank 1 fill in the blank 2 fill in the blank 3 Variable Costs Indirect Material $fill in the blank 5 $fill in the blank 6 $fill in the blank 7 Indirect Labor fill in the blank 9 fill in the blank 10 fill in the blank 11 Maintenance fill in the blank 13 fill in the blank 14 fill in the blank 15 Utilities fill in the blank 17 fill in the blank 18 fill in the blank 19 Total Variable Manufacturing Costs $fill in the blank 20 $fill in the blank 21 $fill in the blank 22 Fixed Costs Supervisory Salaries $fill in the blank 24 $fill in the blank 25 $fill in the blank 26 Maintenance Salaries fill in the blank 28 fill in the blank 29 fill in the blank 30 Insurance fill in the blank 32 fill in the blank 33 fill in the blank 34 Depreciation fill in the blank 36 fill in the blank 37 fill in the blank 38 Total Fixed Manufacturing Costs $fill in the blank 39 $fill in the blank 40 $fill in the blank 41 Total Manufacturing Overhead $fill in the blank 42 $fill in the blank 43 $fill in the blank 44
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Spree Party Lights
overhead expenses are:Indirect material, pounds per unit 0.25 Indirect material, cost per pound $2 Indirect labor hours 1 Indirect labor rate per hour $16.00 Variable maintenance per unit $0.70 Variable utilities per unit $0.20 Supervisor salaries $10,000 Maintenance salaries $9,000 Insurance $4,000 Depreciation $1,500 Prepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,400, 2,900, and 2,700, respectively.
Spree Party Lights Manufacturing Overhead Budget For the Quarter Ending January - March January February March Units to Produce fill in the blank 1 fill in the blank 2 fill in the blank 3 Variable Costs Indirect Material $fill in the blank 5 $fill in the blank 6 $fill in the blank 7 Indirect Labor fill in the blank 9 fill in the blank 10 fill in the blank 11 Maintenance fill in the blank 13 fill in the blank 14 fill in the blank 15 Utilities fill in the blank 17 fill in the blank 18 fill in the blank 19 Total Variable Manufacturing Costs $fill in the blank 20 $fill in the blank 21 $fill in the blank 22 Fixed Costs Supervisory Salaries $fill in the blank 24 $fill in the blank 25 $fill in the blank 26 Maintenance Salaries fill in the blank 28 fill in the blank 29 fill in the blank 30 Insurance fill in the blank 32 fill in the blank 33 fill in the blank 34 Depreciation fill in the blank 36 fill in the blank 37 fill in the blank 38 Total Fixed Manufacturing Costs $fill in the blank 39 $fill in the blank 40 $fill in the blank 41 Total Manufacturing Overhead $fill in the blank 42 $fill in the blank 43 $fill in the blank 44
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