Wineman Incorporated makes a single product-an electrical motor used in many long-haul trucks. The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Budgeted (Planned) Overhead: Budgeted variable manufacturing overhead Budgeted fixed manufacturing overhead Total budgeted manufacturing overhead Budgeted production (a) Standard hours per unit (b) Budgeted hours (a) x (b) Applying Overhead: Actual production (a) Standard hours per unit (b) $12 231 1 Standard hours allowed for the actual production (a) x (b) Actual Overhead and Hours: Actual variable manufacturing overhead Actual fixed manufacturing overhead Total actual manufacturing overhead The fixed overhead budget variance is: Multiple Choice $16,000 U $16,000 F $12,234 F Actual hours $ 153,425 352,925 $ 506,350 25,000 1.90 47,500 23,000 1.90 43,700 $ 107,000 336,925 $ 443,925 42.800 units machine-hours machine-hours units machine-hours machine-hours machine-hours
Wineman Incorporated makes a single product-an electrical motor used in many long-haul trucks. The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Budgeted (Planned) Overhead: Budgeted variable manufacturing overhead Budgeted fixed manufacturing overhead Total budgeted manufacturing overhead Budgeted production (a) Standard hours per unit (b) Budgeted hours (a) x (b) Applying Overhead: Actual production (a) Standard hours per unit (b) $12 231 1 Standard hours allowed for the actual production (a) x (b) Actual Overhead and Hours: Actual variable manufacturing overhead Actual fixed manufacturing overhead Total actual manufacturing overhead The fixed overhead budget variance is: Multiple Choice $16,000 U $16,000 F $12,234 F Actual hours $ 153,425 352,925 $ 506,350 25,000 1.90 47,500 23,000 1.90 43,700 $ 107,000 336,925 $ 443,925 42.800 units machine-hours machine-hours units machine-hours machine-hours machine-hours
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Wineman Incorporated makes a single product-an electrical motor used in many long-haul trucks. The company has a standard cost
system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data
concerning the most recent year appear below:
Budgeted (Planned) Overhead:
Budgeted variable manufacturing overhead
Budgeted fixed manufacturing overhead
Total budgeted manufacturing overhead
Budgeted production (a)
Standard hours per unit (b)
Budgeted hours (a) x (b)
Applying Overhead:
Actual production (a)
Standard hours per unit (b)
Standard hours allowed for the actual production (a) x (b)
Actual Overhead and Hours:
Actual variable manufacturing overhead
Actual fixed manufacturing overhead
Total actual manufacturing overhead
The fixed overhead budget variance is:
Multiple Choice
$16,000 U
$16,000 F
$12,234 F
$12,234 U
Actual hours
$ 153,425
352,925
$ 506,350
25,000
1.90
47,500
23,000
1.90
43,700
$ 107,000
336,925
$ 443,925
42,800
units
machine-hours
machine-hours
units
machine-hours
machine-hours
machine-hours](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F24de9d49-6070-4d88-ab58-a37c20172dbc%2Fe38a559f-14eb-4496-a7f1-e3d9524f3507%2F9kddqls_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Wineman Incorporated makes a single product-an electrical motor used in many long-haul trucks. The company has a standard cost
system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data
concerning the most recent year appear below:
Budgeted (Planned) Overhead:
Budgeted variable manufacturing overhead
Budgeted fixed manufacturing overhead
Total budgeted manufacturing overhead
Budgeted production (a)
Standard hours per unit (b)
Budgeted hours (a) x (b)
Applying Overhead:
Actual production (a)
Standard hours per unit (b)
Standard hours allowed for the actual production (a) x (b)
Actual Overhead and Hours:
Actual variable manufacturing overhead
Actual fixed manufacturing overhead
Total actual manufacturing overhead
The fixed overhead budget variance is:
Multiple Choice
$16,000 U
$16,000 F
$12,234 F
$12,234 U
Actual hours
$ 153,425
352,925
$ 506,350
25,000
1.90
47,500
23,000
1.90
43,700
$ 107,000
336,925
$ 443,925
42,800
units
machine-hours
machine-hours
units
machine-hours
machine-hours
machine-hours
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