Question

Question 22 options: Everjoice Company makes clocks. The budgeted fixed overhead costs for 2012 totaled $720,000....

Question 22 options:

Everjoice Company makes clocks. The budgeted fixed overhead costs for 2012 totaled $720,000. The company uses direct labor hours to allocated fixed overhead and it takes 0.5 direct labor hours per clock. The budgeted quantity of clocks (output) planned for the year was 480,000 units. During the year, 504,000 clocks were produced and $780,000 was spent on fixed overhead.

A. What is the fixed overhead rate (FOH rate) for 2012 based on direct labor hours?

B. The production volume variance for 2012 is (include the amount and write out favorable or unfavorable):

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Everjoice Company makes clocks. The budgeted fixed overhead costs for 2012 totaled $720,000. The company uses direct labor hours to allocated fixed overhead and it takes 0.5 direct labor hours per clock.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Assume that $102,000 is budgeted for fixed overhead. $95,000 was actually spent on fixed overhead. Fixed...
Assume that $102,000 is budgeted for fixed overhead. $95,000 was actually spent on fixed overhead. Fixed overhead is applied to production at $10 per labor hour, and the achieved output was 5,000 units. The standard labor hours are 2 hours per unit. The total fixed overhead variance is $2,000 favorable. All of these choices are correct. The fixed overhead spending variance is $7,000 favorable. The fixed overhead volume variance is $5,000 unfavorable.
Direct Materials, Direct Labor, and Reports budgeted and actual costs for variable and fixed factory overhead...
Direct Materials, Direct Labor, and Reports budgeted and actual costs for variable and fixed factory overhead along with the related controllable and volume variances.Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. A detailed estimate of what a product should cost.Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 6,800 units of product were as follows: Standard Costs Actual Costs Direct materials 8,800 lb. at $4.90 8,700...
The following information applies to questions 1-3: Actual fixed overhead cost: $35,200 Budgeted fixed overhead cost:...
The following information applies to questions 1-3: Actual fixed overhead cost: $35,200 Budgeted fixed overhead cost: $35,000 Budgeted fixed overhead rate, based on 10,000 machine hours: $3.50 Standard machine hours per unit: 1/2 hour Actual units produced: 17,600 1.          Compute the fixed overhead budget variance: a. $4,400 favorable              c. $4,200 favorable b. $200 unfavorable              d. $200 favorable 2.          Compute the fixed overhead volume variance: a. $200 unfavorable             c. $200 favorable b. $4,400 favorable               d. $4,200 unfavorable...
The following information relating to a company's overhead costs is available. Budgeted fixed overhead rate per...
The following information relating to a company's overhead costs is available. Budgeted fixed overhead rate per machine hour $ 0.50 Actual variable overhead $ 73,000 Budgeted variable overhead rate per machine hour $ 2.50 Actual fixed overhead $ 17,000 Budgeted hours allowed for actual output achieved 32,000 Based on this information, the total overhead variance is: Multiple Choice $6,000 favorable. $1,000 favorable. $7,000 favorable. $6,000 unfavorable. $1,000 unfavorable.
GreatGreat Fender allocates manufacturing overhead to production based on standard direct labor hours. GreatGreat Fender reported...
GreatGreat Fender allocates manufacturing overhead to production based on standard direct labor hours. GreatGreat Fender reported the following actual results for 2016​: actual number of fenders​ produced ,20,000​; actual variable​ overhead,$5,300​; actual fixed​ overhead,$27,000​; actual direct labor​ hours,370. Read the requirements . Requirement 1. Compute the overhead variances for the​ year: variable overhead cost​ variance, variable overhead efficiency​ variance, fixed overhead cost​ variance, and fixed overhead volume variance. Begin with the variable overhead cost and efficiency variances. Select the required​...
GreatGreat Fender allocates manufacturing overhead to production based on standard direct labor hours. GreatGreat Fender reported...
GreatGreat Fender allocates manufacturing overhead to production based on standard direct labor hours. GreatGreat Fender reported the following actual results for 2016​: actual number of fenders​ produced ,20,000​; actual variable​ overhead,$5,300​; actual fixed​ overhead,$27,000​; actual direct labor​ hours,370. Read the requirements . Requirement 1. Compute the overhead variances for the​ year: variable overhead cost​ variance, variable overhead efficiency​ variance, fixed overhead cost​ variance, and fixed overhead volume variance. Begin with the variable overhead cost and efficiency variances. Select the required​...
A company uses the following standard costs to produce a single unit of output. Direct materials...
A company uses the following standard costs to produce a single unit of output. Direct materials 6 pounds at $0.90 per pound = $5.40 Direct labor 0.5 hour at $12.00 per hour = $6.00 Manufacturing overhead 0.5 hour at $4.80 per hour = $2.40 During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $56,350 based...
Pratt, Inc., uses a standard costing system and develops its predetermined overhead rate from the annual...
Pratt, Inc., uses a standard costing system and develops its predetermined overhead rate from the annual flexible budget. The budget is based on an expected annual output of 40,000 units requiring total 160,000 budgeted direct labor hours. The company applied overhead based on direct labor hours. Annual budgeted overhead costs totaal $1,280,000of which $480,000 is variable overhead. A total of 30,000 units were produced during the year, using 100,000direct labor hours. Actual overhead costs incurred for the year were total...
Producto Corp. is preparing its overhead budget. Budgeted fixed overhead amounts to $1,620,000. Budgeted variable overhead...
Producto Corp. is preparing its overhead budget. Budgeted fixed overhead amounts to $1,620,000. Budgeted variable overhead rate is $10 per direct labor hour. The company estimates 20,000 direct labor hours and direct labor cost of $925,000. Producto's total overhead budget is: a.$2,500,000. b.$1,820,000. c.$1,600,000. d.$2,475,000. Please show work and include explanations. Thank you!
Single Plantwide Factory Overhead Rate The total factory overhead for Bardot Marine Company is budgeted for...
Single Plantwide Factory Overhead Rate The total factory overhead for Bardot Marine Company is budgeted for the year at $1,890,000. Bardot Marine manufactures two types of boats: speedboats and bass boats. The speedboat and bass boat each require six direct labor hours for manufacture. Each product is budgeted for 7,500 units of production for the year. When required, round all per unit answers to the nearest cent. a. Determine the total number of budgeted direct labor hours for the year....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT