Direct laborDirect materialsOverheadTotal variable overheadTotal fixed overheadExpected units to be producedProduct cost per unit under absorption costing$SA GA$17 per unit11 per unit$30,000$100,00050,000 units

Name: Direct laborDirect materialsOverheadTotal variable overheadTotal fixe
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Description: Direct laborDirect materialsOverheadTotal variable overheadTotal fixed overheadExpected units to be producedProduct cost per unit under absorption costing$SA GA$17 per unit11 per unit$30,000$100,00050,000 units

Absorption costing also known as full costing, takes into consideration all the fixed and variable…

Answered: Direct labor Direct materials Overhead…

Business

Accounting

Direct labor Direct materials Overhead Total variable overhead Total fixed overhead Expected units to be produced SS $ 17 per unit 11 per unit $ $ 30,000 $100,000 50,000 units

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 12E

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A company estimates its manufacturing overhead will be $750,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? Budgeted direct labor hours: 60,000 Budgeted direct labor expense: $1,500,000 Estimated machine hours: 100,000
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What is the cost of direct labor f the conversion costs are $330.000 and manufacturing overhead is $275,000? $55,000 $275,000 $330,000 $605,000
What is the conversion cost to manufacture insulated travel cups if the costs are: direct materials, $17,000; direct labor, $33,000; and manufacturing overhead, $70,000? A. $16,000 B. $50,000 C. $103,000 D. $120000
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Question Content Area Percent of capacity 90% 100% 110% Direct labor hours 3,600 4,000 4,400 Units of output 900 1,000 1,100 Variable overhead $3,600 $4,000 $4,400 Fixed overhead 5,200 5,200 5,200 Total overhead $8,800 $9,200 $9,600 Normal capacity = 100% and overhead is applied based on direct labor hours Standard overhead rate = $9,200/4,000 = $2.30 per direct labor hour Direct materials are $69.00 per unit. Direct labor is $21.50 per hour. Prepare a flexible budget for overhead based on the above data. Flexible Budget 900 1,000 1,100 Direct Material $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Direct Labor fill in the blank 4 fill in the blank 5 fill in the blank 6 Variable Overhead fill in the blank 7 fill in the blank 8 fill in the blank 9 Fixed Overhead fill in the blank 10 fill in the blank 11 fill in the blank 12 Total $fill in the blank 13 $fill in the blank 14 $fill in the blank 15
Percent of capacity 90% 100% 110% Direct labor hours 3,600 4,000 4,400 Units of output 900 1,000 1,100 Variable overhead $2,880 $3,200 $3,520 Fixed overhead 5,600 5,600 5,600 Total overhead $8,480 $8,800 $9,120 Normal capacity = 100% and overhead is applied based on direct labor hours Standard overhead rate = $8,800/4,000 = $2.20 per direct labor hour Direct materials are $66.50 per unit. Direct labor is $24.50 per hour. Prepare a flexible budget for overhead based on the above data. Flexible Budget 900 1,000 1,100 Direct Material Direct Labor Variable Overhead Fixed Overhead Total
Percent of capacity 90% 100% 110% Direct labor hours 3,600 4,000 4,400 Units of output 900 1,000 1,100 Variable overhead $3,600 $4,000 $4,400 Fixed overhead 5,600 5,600 5,600 Total overhead $9,200 $9,600 $10,000 Normal capacity = 100% and overhead is applied based on direct labor hours Standard overhead rate = $9,600/4,000 = $2.40 per direct labor hour Direct materials are $68.00 per unit. Direct labor is $25.00 per hour. Prepare a flexible budget for overhead based on the above data. Flexible Budget 900 1,000 1,100 Direct Material $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 Direct Labor fill in the blank 4 fill in the blank 5 fill in the blank 6 Variable Overhead fill in the blank 7 fill in the blank 8 fill in the blank 9 Fixed Overhead fill in the blank 10 fill in the blank 11 fill in the blank 12 Total $fill in the blank 13 $fill in the blank 14 $fill in the blank 15
Direct materials issued to production $170,000Indirect materials issued to production $45,000Other manufacturing overhead $255,000Overhead allocated $240,000Direct labour costs $80,000 Is the manufacturing overhead under- or over-applied? By how much?