The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerniıng budgeted direct labor-hours: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 10,800 Budgeted direct labor-hours 9,600 9,900 10,700 The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $5.50 per direct labor-hour and its total fixed manufacturing overhead is $76,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $19,000 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year.

The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerniıng budgeted direct labor-hours: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 10,800 Budgeted direct labor-hours 9,600 9,900 10,700 The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $5.50 per direct labor-hour and its total fixed manufacturing overhead is $76,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $19,000 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year.

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

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-hour) Fixed overhead (per month) Expected activity (direct labor-hours) Actual results Direct material (purchased and used) Direct labor Variable overhead Fixed overhead Units produced (actual) K4 0.75 pounds at $8.00 per pound 1.25 hours at $26.00 per hour $21.20 $ 416,400 17,350 10,300 pounds at $7.40 per pound. 14,800 hours at $26.30 per hour $ 331,060 $ 386,740 12,200 units 1 pound at $8.60 per pound 1.50 hours at $30 per hour $ 23.00 $493,500 23,500 X7 14,200 pounds at $8.90 per pound 22,300 hours at $32.60 per hour $ 464,212 $ 490,840 14,500 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…
Aspen Technologies has the following budget data: Estimated direct labor hours 8,800 Estimated direct labor dollars $68,500 Estimated factory overhead costs $153,700 If factory overhead is to be applied based on direct labor hours, the predetermined overhead rate is a.$17.47 b.$20.96 c.$26.20 d.$13.97
Primara Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Total budgeted fixed overhead cost for the year $ 433,100 Actual fixed overhead cost for the year $ 425,000 Budgeted direct labor-hours (denominator level of activity) 61,000 Actual direct labor-hours 62,000 Standard direct labor-hours allowed for the actual output 59,000 Required: 1. Compute the fixed portion of the predetermined overhead rate for the year. (Round Fixed portion of the predetermined overhead rate to 2 decimal places.) 2. Compute the fixed overhead budget variance and volume variance. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.). Input all amounts as positive values.)
Elroy Corporation bases its manufacturing overhead budget on budgeted direct labor-hours. The variable overhead rate is $2.90 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $198,560 per month, which includes depreciation of $28,970. All other fixed manufacturing overhead costs represent current cash flows. The July direct labor budget indicates that 9,800 direct labor-hours will be required in that month. Required: SHOW YOUR WORK in budget format a. Determine the cash disbursements for manufacturing overhead in good form, including heading, for January 2024b. Determine the predetermined overhead rate for July. (Round your answer to 2 decimal places.)
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 Activity Level Depreciation Fixed overhead costs per month are Supervision $3,600, Depreciation $1,300, and Property Taxes $800. The company believes it will normally operate in a range of 7,100-11,000 direct labor hours per month. Direct Labor Hours Fixed Costs $1.20 Prepare a monthly manufacturing overhead flexible budget for 2020 for the expected range of activity, using increments of 1,300 direct labor hours. (List variable costs before fixed costs.) Indirect Labor Indirect Materials Property Taxes Supervision 0.70 Total Costs Total Fixed Costs Total Variable Costs Utilities Variable Costs 0.20 LA MYERS COMPANY Monthly Manufacturing Overhead Flexible Budget For the Year 2020 LA tA tA
Novak 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: $1.10, Indirect materials: 0.80, Utilities 0.50. Fbed 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 2022 for the expected range of activity, using increments of 1, 000 direct labor hours. (List variable costs before fixed costs)
Calculate the total, fixed, and variable predetermined manufacturing overhead rates. (Round answers to 2 decimal places, e.g. 15.25.) Variable manufacturing overhead $ Fixed manufacturing overhead Total manufacturing overhead $ Total overhead variance Budget overhead variance Volume overhead variance Rate Calculate the total, budget, and volume overhead variances.
hsl.7
Please help me with show all calculation thanku
The following information is available for the Danske Company: Denominator hours for May 17,000 Actual hours worked during May 17,200 Standard hours allowed for May Flexible budget fixed overhead cost Actual fixed overhead costs for May 13,600 $85,000 $88,000 Danske Company had total underapplied overhead of $16,600. Additional information is as follows: Variable Overhead: Applied based on standard direct labor hours allowed Budgeted based on standard direct labor hours $58,000 39,600 Fixed Overhead: Applied based on standard direct labor hours allowed $46,000 Budgeted based on standard direct labor hours 28,600 What is the production volume variance for May? Multiple Choice $17,000 $10,800 O $3,600 $3,400
The following information is available for the Danske Company: Denominator hours for May 20,000 Actual hours worked during May 19,000 Standard hours allowed for May 17,000 Flexible budget fixed overhead cost $ 60,000 Actual fixed overhead costs for May $ 64,000 Danske Company had total underapplied overhead of $20,000. Additional information is as follows: Variable Overhead: Applied based on standard direct labor hours allowed $ 52,000 Budgeted based on standard direct labor hours 43,000 Fixed Overhead: Applied based on standard direct labor hours allowed $ 40,000 Budgeted based on standard direct labor hours 32,000 What is the actual total overhead for the period?
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 $1.30 0.80 0.30 Fixed overhead costs per month are Supervision $4,100, Depreciation $1,100, and Property Taxes $800. The company believes it will normally operate in a range of 7,100-11.300 direct labor hours per month. Prepare a monthly manufacturing overhead flexible budget for 2020 for the expected range of activity, using increments of 1,400 direct labor hours. (List variable costs before fixed costs) MYERS COMPANY Monthly Manufacturing Overhead Flexible Budget For the Year 2020