Luna Company calculates its predetermined rates using practical volume, which is 288,000 units. The standard cost system allows 2 direct labor hours per unit produced. Overhead is applied using direct labor hours. The total budgeted overhead is P3,168,000, of which P864,000 is fixed overhead. The actual results for the year are as follows:

Q: Franklin manufactures pipes and applies manufacturing overhead costs to production at a budgeted…

A: The amount of manufacturing overhead allocated to all the jobs during June 2020 is $72000

Q: Aneto productions uses a predetermined overhead recovery rate based on hours. A summary of the…

A: This question deals with the calculation of budgeted level of machine hour. We have been given…

Q: The following information relates to the Finishing department of Tom company for the fourth quarter:…

A: The question is based on the concept of Cost Accounting.

Q: The company budgeted for production of 2,600 units in September, but actual production was 2,500…

A: Labor rate variance = (Standard rate - Actual rate) * Actual hours

Q: Vin Diesel Company uses a standard costing system in which it applies manufacturing overhead to…

A: Total budgeted fixed factory overhead = Total applied factory overhead - Total Variable factory…

Q: XYZ Corporation uses a predetermined overhead application rate of P.30 per direct labor hour. During…

A: The predetermined overhead rate is calculated as estimated overhead cost divided by budgeted…

Q: Mona moobl3 Ltd operates a standard costing system and absorbs overheads on the basis of standard…

A: Option b is correct.

Q: Botosan Factory has budgeted factory overhead for the year at $666,573, and budgeted direct labor…

A: Overhead allocation refers to the distribution of the indirect costs for the produced goods and in…

Q: Antuan Company set the following standard costs per unit for its product. $ 12.00 Direct materials…

A: When the actual price is higher than the standard price the price variance is unfavorable .…

Q: World Company expects to operate at 80% of its productive capacity of 50,000 units per month. At…

A: Overheads Volume Variance = Applied Fixed Overhead - Budgeted Fixed Overhead Overhead Controllable…

Q: Avery Company uses a predetermined overhead rate based on direct labor hours. For the month of…

A: Manufacturing overhead: It is the indirect cost incurred as a part of manufacturing the products.…

Q: egan, Incorporated uses the following standard costs per unit for one of its products: Direct labor…

A: The difference between the actual amount of an expense and the expected (or budgeted) amount of an…

Q: Vin Diesel Company uses a standard costing system in which it applies manufacturing overhead to…

A: Formula: Total budgeted fixed factory overhead = Total applied factory overhead - Total Variable…

Q: herokee Company applies factory overhead on the basis of direct labor hours. Budget and actual data…

A: Budgeted Factory overhead cost per unit = Budgeted Factory overhead cost / Budgeted Direct labor…

Q: Newark Plastics Corporation developed its overhead application rate from the annual budget. The…

A: The question is based on the concept of Cost Accounting. As per the Bartleby guidelines we are…

Q: The data below relate to the month of November for Badong, Inc. which uses a standard cost system:…

A: Labor usage variance= Actual hours * Standard rate per hour - Actual hours * Actual rate per hou

Q: NEW JERSEY CORP. uses a standard cost system in which manufacturing overhead is applied to units of…

A: Denominator level of activity is calculated by dividing the total budgeted overhead with the…

Q: XYZ Corporation uses a predetermined overhead application rate of P.30 per direct labor hour. During…

A: Actual hours = applied overhead / predetermined overhead application rate  = P363,000 /0.30 =…

Q: Dubberly Corporation's cost formula for its manufacturing overhead is $32,400 per month plus $54 per…

A: Formulas; Budgeted Manufacturing Overhead = Manufacturing overhead + (Rate per Machine hours x…

Q: Acme Company's production budget for August is 19,100 units and includes the following component…

A: The variation between actual results and the budget or standard is referred as variance.

Q: Newbill Enterprises recently used 34,000 labor hours to produce 11,200 completed units. According to…

A: Variance refers to a change between the expected value and the actual result. This term is usually…

Q: World Company expects to operate at 80% of its productive capacity of 50,000 units per month. At…

A:

Q: Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current…

A: Variance is the difference between the actual and budgeted figures. These can be both Favorable (F)…

Q: Oerstman, Inc. uses a standard costing system and develops its overhead rates from the current…

A: 1. Compute fixed overhead spending variance: Fixed overhead spending variance = Actual fixed…

Q: Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current…

A: Fixed overhead Spending variance = Budgeted Fixed overhead - Actual Fixed Overhead   Fixed overhead…

Q: During the year, 5,600 units were produced, 18,340 hours were worked, and the actual manufacturing…

A: Variable manufacturing overhead rate = Budgeted variable manufacturing overhead / Budgeted hours =…

Q: Antuan Company set the following standard costs per unit for its product. Direct materials (6 pounds…

A: Calculation of Direct labor rate variance :- Direct labor rate variance = (Standard rate - Actual…

Q: The following data pertains to the month of October for Elm. Co. when production was budgeted to be…

A: Direct material quantity variance is calculated by taking the difference between actual quantity at…

Q: In October, Pine Company reports 20,600 actual direct labor hours, and it incurs $257,000 of…

A: overhead volume  variance  =  Standard hours  - normal hours) × fixed overhead  rate

Q: The following data pertains to the month of October for ElmCo. when production was budgeted to be…

A: Direct Material Quantity Variance It's the variance which occurs due to the change in the quantity…

Q: World Company expects to operate at 80% of its productive capacity of 50,000 units per month. At…

A: Fixed overhead per labor hour=$50,00025,000=$2

Q: Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for…

A: Favorable variance means the actual expenditure are lower than the budgeted expenditure.

Q: Zepol Company is planning to produce 600,000 power drills for the coming year. The company uses…

A: Overhead rates in the given case needs to be determined  based on budgeted direct labor hours.

Q: Mona moobl3 Ltd operates a standard costing system and absorbs overheads on the basis of standard…

A: Overheads are the indirect costs related with the production and manufacturing. These costs can not…

Q: Langley Manufacturing Ltd. has budgeted fixed manufacturing overhead at $100,000 and per unit…

A: The question is based on the concept of Cost Accounting.

Q: Acme Company's production budget for August is 23,000 units and includes the following component…

A: The variance is the difference between the actual data and standard data.

Q: The following information relates to the Finishing department of Tom company for the fourth quarter:…

A:

Q: Vin Diesel Company uses a standard costing system in which it applies manufacturing overhead to…

A: Total budgeted fixed factory overhead = Total applied factory overhead - Total Variable factory…

Q: Justine Company budgeted total variable overhead costs at P180,000 for the current period. In…

A: Formula: Overhead rate per hour = Total estimated overhead / Total estimated Machine hours

Q: Are the answers correct?

A: Variances are computed by subtracting the budgeted costs from actual costs. When actual…

Q: Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current…

A: Actual overhead = $241,400 + $556,200 = $797600 Budgeted Fixed Overhead = Standard variable overhead…

Q: Acme Company's production budget for August is 17,500 units and includes the following component…

A: Formula: Variable overhead spending variance =  (Standard variable overhead rate per hour - Actual…

Q: The Ring The Bells, Co. collected the following data regarding production of one of its products.…

A: Variable overhead cost variance  = Actual variable overhead - standard overhead for actual output

Q: At the beginning of the year, Smith Company budgeted overhead of $129,600 as well as 13,500direct…

A: As per the honor code, we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit…

Q: The data below relate to the month of November for Badong, Inc. which uses a standard cost system:…

A: Two-way analysis takes into account two variances: Overhead controllable variance and overhead…

Q: Zepol Company is planning to produce 600,000 power drills for the coming year. The company uses…

A: Overhead refers to the ongoing costs to operate a business but excludes the direct costs associated…

Q: Ribo Company’s budgeted total variable overhead is at P180,000 for the current period.  In addition,…

A: SOLUTION-   OVERHEAD RATE =  TOTAL VARIABLE OVERHEADS +FACTORY RENT +DEPRECIATION ON FACTORY…

Q: Overhead rate is 42 per machine hour based on budgeted OH of 745,000. During the period, direct…

A: