Zitrik Corporation manufactured 130,000 buckets during February. The variable overhead cost-allocation base is $5.30 per machine-hour. The following variable overhead data pertain to February: Production Machine-hours Variable overhead cost per machine-hour What is the variable overhead efficiency variance? Actual 130,000 units 9,500 hours $5.35 Budgeted 130,000 units 9,000 hours $5.30

Zitrik Corporation manufactured 130,000 buckets during February. The variable overhead cost-allocation base is $5.30 per machine-hour. The following variable overhead data pertain to February: Production Machine-hours Variable overhead cost per machine-hour What is the variable overhead efficiency variance? Actual 130,000 units 9,500 hours $5.35 Budgeted 130,000 units 9,000 hours $5.30

Name: Zitrik Corporation manufactured 130,000 buckets during February. The
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Description: Zitrik Corporation manufactured 130,000 buckets during February. The variable overheadcost-allocation base is $5.30 per machine-hour. The following variable overhead datapertain to February:ProductionMachine-hoursVariable overhead cost per machine-h

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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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 $1.30 Indirect materials 0.60 Utilities 0.20 Fixed overhead costs per month are Supervision $4,000, Depreciation $1,600, and Property Taxes $700. The company believes it will normally operate in a range of 8,100–11,700 direct labor hours per month.Prepare a monthly manufacturing overhead flexible budget for 2020 for the expected range of activity, using increments of 1,200 direct labor hours. (List variable costs before fixed costs.)
Belinda Company has the following budgeted variable costs per unit produced: Direct materials $ 7.50 Direct labour 2.24 Variable overhead: Supplies 0.33 Maintenance 0.17 Power 0.18 Budgeted fixed overhead costs per month include supervision of $68,000, depreciation of $71,000, and other overhead of $205,000. Required: 1. Prepare a flexible budget for all costs of production for the following levels of production: 120,000 units, 130,000 units, and 145,000 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.)
Current Attempt in Progress In October, Carla Vista Company reports 20,000 actual direct labor hours, and it incurs $255,000 of manufacturing overhead costs. Standard hours allowed for the work done is 25,500 hours. The predetermined overhead rate is $10.25 per direct labor hour. In addition, the flexible manufacturing overhead budget shows that budgeted costs are $8.11 variable per direct labor hour and $53,500 fixed. Compute the overhead volume variance. Normal capacity was 25,000 direct labor hours. Overhead Volume Variance LA
Gus Corporation manufactured 10,000 golf bags during April. The fixed overhead cost-allocation rate is $40.00 per machine-hour. The following is the fixed overhead data: Actual Static Budget Production 10,000 units 12,000 units Machine-hours 5,100 hours 6,000 hours Fixed overhead cost $244,000 $240,000 What is the flexible-budget amount? A) $200,000 B) $204,000 C) $240,000 D) $244,000 What is the amount of fixed overhead allocated to production (Actual Qty x Bud Price column)? A) $200,000 B) $204,000 C) $240,000 D) $244,000 The total Fixed overhead variance is: A) overallocated by $4,000 B) underallocated by $4,000 C) overallocated by $44,000 D) underallocated by $44,000
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1. The following summary data are from a performance report for Smudge Company for August, during which 8,300 units were produced. The budget reflects the company's normal capacity of 9,000 units. Actual Costs Budget Variance (8,300 units) (9,000 units) S (F Direct material $105,750 $108,000 $2,250) (F Direct labor $216,475 $220,500 $4,025 Variable overhead $83,630 $89,370 $5,740 (U Fixed overhead $51,200 $50,000 ($1,200) ) (F Total $457,055 $467,870 $10,815 ) Revise the performance report using flexible budgeting and comment on the general implications of the revised report.
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Kerekes Manufacturing Corporation has prepared the following overhead budget for next month. Activity level 2,200 machine-hours Variable overhead costs: Supplies Indirect labor Fixed overhead costs: Supervision Utilities Depreciation Total overhead cost Multiple Choice The company's variable overhead costs are driven by machine-hours. What would be the total budgeted overhead cost for next month if the activity level is 2,100 machine-hours rather than 2,200 machine-hours? (Round your intermediate calculations to 2 decimal places.) O $54,560 $53,330 $52,770 $ 9,240 17,820 $52,080 15,300 5,600 6,600 $ 54,560
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Pittman Framing's cost formula for its supplies cost is $1,120 per month plus $12 per frame. For the month of November, the company planned for activity of 610 frames, but the actual level of activity was 602 frames. The actual supplies cost for the month was $8,600. The spending variance for supplies cost in November would be closest to: Multiple Choice O $160 U $256 F $256 U $160 F