Do fast answer of this accounting questions Summit Manufacturing has the following results for the current period:•Budget Fixed Overhead: $180,000• Actual Fixed Overhead: $178,500•••Budgeted Units: 8,000Actual Units: 120,000Budgeted Direct Labor Hours: 16,000• Actual Direct Labor Hours: 96,000••Fixed Overhead Rate: $14 per DLHVariable Overhead Rate: $32 per DLH⚫ Standard Hours per Unit: 2 DLH⚫ Actual Variable Overhead: $420,000Which of the following amounts represents the variable overhead spending variance?a. -$2,652,000b. $2,652,000c. -$1,875,000d. $1,875,000

Step 1: Definition of Variable Overhead Spending VarianceThe Variable Overhead Spending Variance is…

Answered: Summit Manufacturing has the following…

Principles of Accounting Volume 2

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Chapter4: Job Order Costing

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Problem 7EB: A company estimates its manufacturing overhead will be $840,000 for the next year. What is the...

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A company estimates its manufacturing overhead will be $840,000 for the next year. What is the predetermined overhead rate given each of the following Independent allocation bases? Budgeted direct labor hours: 90,615 Budgeted direct labor expense: $750000 Estimated machine hours: 150,000
A company estimates its manufacturing overhead will be $750,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? Budgeted direct labor hours: 60,000 Budgeted direct labor expense: $1,500,000 Estimated machine hours: 100,000
Assume that the inspection activity has an expected cost of 120,000. Expected direct labor hours are 3,000, and expected number of inspections is 600. The best activity rate for inspection is as follows: a. 40 per inspection b. 40 per hour c. 200 per inspection d. 200 per hour
Nashler Company has the following budgeted variable costs per unit produced: Budgeted fixed overhead costs per month include supervision of 98,000, depreciation of 76,000, and other overhead of 245,000. Required: 1. Prepare a flexible budget for all costs of production for the following levels of production: 160,000 units, 170,000 units, and 175,000 units. 2. What is the per-unit total product cost for each of the production levels from Requirement 1? (Round each unit cost to the nearest cent.) 3. What if Nashler Companys cost of maintenance rose to 0.22 per unit? How would that affect the unit product costs calculated in Requirement 2?
Steeler Towel Company estimates its overhead to be $250,000. It expects to have 100,000 direct labor hours costing $2,500,000 in labor and utilizing 12,500 machine hours. Calculate the predetermined overhead rate using: A. Direct labor hours B. Direct labor dollars C. Machine hours
Crystal Pools estimates overhead will utilize 250,000 machine hours and cost $750,000. It takes 2 machine hours per unit, direct material cost of $14 per unit, and direct labor of $20 per unit. What is the cost of each unit produced?
Green Bay Cheese Company estimates its overhead to be $375,000. It expects to have 125,000 direct labor hours costing $1,500,000 in labor and utilizing 15,000 machine hours. Calculate the predetermined overhead rate using: A. Direct labor hours B. Direct labor dollars C. Machine hours
A company estimates its manufacturing overhead will be $630,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? When required, round your answers to nearest cent. A. Budgeted direct labor hours: 72,000 $______ per direct labor hour B. Budgeted direct labor expense: $1,800,000 $_____ per direct labor dollar C. Estimated machine hours: 120,000 $_____ per machine hour
A company estimates its manufacturing overhead will be $1,080,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? When required, round your answers to nearest cent. A. Budgeted direct labor hours: 72,000 $fill in the blank 1 per direct labor hour B. Budgeted direct labor expense: $1,800,000 $fill in the blank 2 per direct labor dollar C. Estimated machine hours: 120,000 $fill in the blank 3 per machine hour
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! 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 1. Standard overhead rate 2. Standard overhead applied 3. Overhead variance Actual Results 51,600 $367,700 1. Compute the standard overhead rate. Hint: Standard allocation base at 80% capacity is 27,375 DLH, computed as 54,750 units x 0.5 DLH per unit. 2. Compute the standard overhead applied. 3. Compute the total overhead variance. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.

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