The condensed form of Nordstrop Company's flexible budget for manufacturing overhead follows: Overhead Costs Variable cost Fixed cost Total overhead cost Cost Formula (per machine- hour) $1.70 5,000 Machine-Hours 6,000 7,000 $ 8,500 $10,200 $ 11,980 13,500 13,500 13,580 $ 22,000 $23,780 $25,480 The following information is available for a recent period: a. The denominator activity of 5,000 machine-hours was chosen to compute the predetermined overhead rate. b. At the 5,000 standard machine-hours level of activity, the company should produce 1,000 units of product. c. The company's actual operating results were as follows: Number of units produced 1,300

The condensed form of Nordstrop Company's flexible budget for manufacturing overhead follows: Overhead Costs Variable cost Fixed cost Total overhead cost Cost Formula (per machine- hour) $1.70 5,000 Machine-Hours 6,000 7,000 $ 8,500 $10,200 $ 11,980 13,500 13,500 13,580 $ 22,000 $23,780 $25,480 The following information is available for a recent period: a. The denominator activity of 5,000 machine-hours was chosen to compute the predetermined overhead rate. b. At the 5,000 standard machine-hours level of activity, the company should produce 1,000 units of product. c. The company's actual operating results were as follows: Number of units produced 1,300

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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