The following budget data are available for Sharp Company:Estimated direct labor hours12,000Estimated direct labor dollars$90,000Estimated factory overhead costs$179,000Actual direct labor hours11,500Actual direct labor dollars$92,000Actual factory overhead costs$180,000If factory overhead is to be applied based on direct labor dollars, the predetermined factoryoverhead rate isa. $15.65b. 196%d. 199%

A predetermined overhead rate is used to calculate the estimated overhead. It shows the rate at…

The following budget data are available for Sharp Company: Estimated direct labor hours Estimated direct labor dollars Estimated factory overhead costs Actual direct labor hours Actual direct labor dollars Actual factory overhead costs If factory overhead is to be applied based on direct labor dollars, the predetermined factory overhead rate is a. $15.65 b. 196% 12,000 $90,000 $179,000 11,500 $92,000 $180,000 d. 199%

The following budget data are available for Sharp Company: Estimated direct labor hours Estimated direct labor dollars Estimated factory overhead costs Actual direct labor hours Actual direct labor dollars Actual factory overhead costs If factory overhead is to be applied based on direct labor dollars, the predetermined factory overhead rate is a. $15.65 b. 196% 12,000 $90,000 $179,000 11,500 $92,000 $180,000 d. 199%

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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The following data pertain to the Oneida Restaurant Supply Company for the year just ended. Budgeted sales revenue Actual manufacturing overhead Budgeted machine hours (based on practical capacity) Budgeted direct-labor hours (based on practical capacity) Budgeted direct-labor rate Budgeted manufacturing overhead Actual machine hours Actual direct-labor hours Actual direct-labor rate $ 205,000 338,000 8,000 20,000 $ 14 S 364,000 11,000 18,000 $ 16 EX 3-35 (Algo) Part 1 Compute the firm's predetermined overhead rate... Required: 1. Compute the firm's predetermined overhead rate for the year using each of the following common cost drivers: (a) machine hours, (b) direct-labor hours, and (c) direct-labor dollars. Note: Round your answers to 2 decimal places.
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Pendennis plc had the following budget and actual figures for Product ZN6 during April: Output Sales revenue Raw materials Labour Fixed overheads Profit Budget A. £12,500 favourable B. £13,000 adverse C. £13,000 favourable D. £12,500 adverse 2,200 units £ 205,000 (98,800) 28,000 metres (65,000) 13,000 hours (21,400) 19,800 What is the direct labour rate variance for Product ZN6 for the month of April? Actual £ 176,000 (77,000) 22,000 metres (66,000) 11,000 hours (24,200) 8,800 2,500 units
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The Illustrative Corporation recorded the following budgeted and actual information relating to fixed overhead costs for its Z-Line of products Standard fixed overhead per direct labor hour Standard direct labor hours per unit Budgeted production Budgeted fixed overhead costs $3 0.75 3,400 $7.650.00 Actual production in units Actual fixed overhead costs incurred What is Illustrative's fixed manufacturing overhead volume variance? A. $2.025.00 favorable OB. $4.950.00 favorable OC. $2,025.00 unfavorable D. $4.950.00 unfavorable 4,300 $2.700.00
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Required information Use the following information for the Quick Studies below. (Algo) Rafner Manufacturing has the following budgeted data for its two production departments. Budgeted Data Overhead cost Direct labor hours Machine hours $ 1,358,900 Assembly 12,700 direct labor hours. 6,700 machine hours The departmental overhead rate for Assembly QS 17-7 (Algo) Computing departmental overhead rates LO P2 What is the Assembly department overhead rate using direct labor hours? What is the Finishing department overhead rate using machine hours? The departmental overhead rate for Finishing $ 1,068,800 Finishing 20,700 direct labor ho 16,700 machine hours