Shane Industries prepared a fixed budget of 60,000 direct labor hours, with estimated overhead costs of $300,000 for variable overhead and $90,000 for fixed overhead. Shane then prepared a flexible budget at 57,000 labor hours. How much is total overhead costs at this level of activity? Group of answer choices $285,000 $370,500 $375,000 $390,000

Q: rico Company set the following standard unit costs for its single product.         Direct materials…

A: Solution a: Variable Overhead Cost Variance Actual Cost     Standard cost for actual quantity…

Q: the actual amount was $350,000. Actual production for July was 25,000 units, and actual…

A:

Q: FrontGrade Systems allocates manufacturing overhead based on machine hours. Each connector should…

A: Variable Overhead Cost Variance: The overhead cost which varies with the level of activity is called…

Q: Tanya Inc.’s static budget for 10,000 units of production includes P60,000 for direct materials,…

A: A flexible budget is prepared by modifying the static budget according to a different volume or…

Q: Presented here are the original overhead budget and the actual costs incurred during April for…

A: 1. To calculate flexed budget allowances for variable and fixed overhead for April: Flexed variable…

Q: FrontGrade Systems allocates manufacturing overhead based on machine hours. Each connector should…

A: This contain Two question  In Question related to Front Grade system the requirement of question is…

Q: FrontGrade Systems allocates manufacturing overhead based on machine hours. Each connector should…

A: Variable overhead efficiency variance = (standard machine hours allowed - actual machine…

Q: Barker Company produces and sells a single product with budgeted or standard costs as follows:…

A: A cash budget is an estimate of a company's cash inflows and outflows for a given time span, such as…

Q: Carlos Consulting Inc. provides financial consulting and has collected the following data for the…

A: Supply's clerk wages = $18,000 Fringe benefits = $4,000 Related overhead = $20,000 Material overhead…

Q: FrontGrade Systems allocates manufacturing overhead based on machine hours. Each connector should…

A: Standard variable overhead rate per hour = Expected variable manufacturing overhead costs / Expected…

Q: Barker Company produces and sells a single product with budgeted or standard costs as follows:…

A: ''Since you have posted a question with multiple parts, we will solve the first three sub-parts for…

Q: The following information relates to Modern, Inc.'s overhead costs for the month: Static budget…

A: Variance is a result of the difference between the actual and the planned results. Volume variance…

Q: Cold Products Corporation manufactured​ 27,000 ice chests during September. The variable overhead​…

A: Budgeted variable overhead cost = Budgeted Variable overhead cost per​ machine-hour x Budgeted…

Q: Miller and Sons' static budget for 10,000 units of production includes $50,000 for direct materials,…

A: Answer and calculations are given below

Q: Laurie Inc.’s static budget for 10,000 units of production includes $60,000 for direct materials,…

A: A flexible budget is that budget which includes all the flexibility and change in the output. In…

Q: Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory…

A: Manufacturing overhead cost or Factory overhead cost: the factory overhead is the some other direct…

Q: Delaware Corp. prepared a master budget that included $22140 for direct materials, $28,000 for…

A: The fixed cost for flexible budget is similar to flexible cost for master budget.

Q: Miller and Sons' static budget for 10,500 units of production includes $44,700 for direct materials,…

A:

Q: At 18,000 direct labor hours, the flexible budget for indirect materials is $36,000. If $37,400 are…

A: Definition:   Variance Analysis: Variance analysis is the process of evaluating the differences…

Q: Barker Company produces and sells a single product with budgeted or standard costs as follows:…

A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…

Q: Sales budget for February, including net sales dollars. Production Budget, i.e., units to be…

A: “Since you have asked multiple question, we will solve the first question for you. If youwant any…

Q: Barker Company produces and sells a single product with budgeted or standard costs as follows:…

A: Part (9) Budgeted Factory Overhead cost for February    Particulars  Amount ($) Variable…

Q: FrontGrade Systems allocates manufacturing overhead based on machine hours. Each connector should…

A: Standard hours allowed for 110 connectors = 110 connectors × 11 machine hours per connector…

Q: Prepare a Flexible budget for overheads on the basis of the following data. Ascertain the overhead…

A: In budgetary control, various budgets are prepared namely, purchase budget, sales budget, cash…

Q: Miller and Sons' static budget for 9,800 units of production includes $40,400 for direct materials,…

A: Flexible budget: It implies to a financial plan that shows the estimated expenses and revenue at the…

Q: Miller and Sons' static budget for 10,100 units of production includes $38,300 for direct materials,…

A: The correct answer is Option (b).

Q: K Company created a set budget of 50,000 direct labour hours, with variable overhead expenses of…

A: The variable costs are changed with the level of production and fixed costs remains constant for…

Q: Puyallup Corporation developed the following budgeted and actual overhead costs for the current…

A: This question deal with the calculation of various variances. Lets discuss each one by one. (1)…

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: Draw up a flexible budget for overhead expenses on the basis of the following data and determine the…

A: Here in this question, we are required to prepare flexible budget. Flexible budget is prepared by…

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: A company set the total budgeted direct labor cost at P75,000 for the month for producing 5,000…

A: Direct labor efficiency variance = (Actual hours worked × standard rate) - (Standard hours×standard…

Q: Belinda Company has the following budgeted variable costs per unit produced:   Direct materials $…

A: Flexible budget helps in estimating the forecasted expenses and outcome based on different activity…

Q: Toot Sweet Company budgeted the following costs for anticipated production for August: Advertising…

A: Note: Advertising expense, sales commission and Executive officer salaries are not the factory…

Q: Barker Company produces and sells a single product with budgeted or standard costs as follows:…

A: 1. Deals spending plan fr Feb 1200 unts. Net $ deals = units * revnue pr unt = 1200 * $1000 =…

Q: Carlos Consulting Inc. provides financial consulting and has collected the following data for the…

A: Material Loading Charge = Total estimated material costs*Profit margin on materials + Supply clerk’s…

Q: Ferguson Farrar Limited is a manufacturing company. For the month of April 20X3 it budgeted for 4000…

A: Variance is the difference between the actual result from the expected result. Expected result is…

Q: Delaware Corp. prepared a master budget that included $24,360 for direct materials, $28,100 for…

A: Flexible overhead budget: A flexible overhead budget is referred to as a thorough plan for…

Q: Presented here are the original overhead budget and the actual costs incurred during April for…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: FrontGrade Systems allocates manufacturing overhead based on machine hours. Each connector should…

A:

Q: FrontGrade Systems allocates manufacturing overhead based on machine hours. Each connector should…

A: Given information is: FrontGrade Systems allocates manufacturing overhead based on machine hours.…

Q: At the beginning of the period, the Cutting Department budgeted direct labor of $139,000, direct…

A: Given data Budgeted direct labor = $139,000 Budgeted direct materials = $169,000 Fixed factory…

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: Melissa Jones is manager of a production department of Seal Company. Her department makes one…

A: Flexible budget (material cost)=Direct material (Static)×Static unitsActual…

Q: James Corporation is using the following flexible-budget formula for annual indirect labor cost:…

A: Here in this question, we are required to calculate total indirect cost for the month of June. There…

Q: FrontGrade Systems allocates manufacturing overhead based on machine hours. Each connector should…

A: The person most probably responsible for direct labor efficiency variance is the production manager…

Q: After selling 4,320 units during the period, Dole Corp. prepared a flexible budget that included…

A: The master budget incorporates all lower-level budgets developed by a company's numerous functional…

Q: Q11 M Company prepared a static budget of 50,000 direct labor hours, with estimated overhead costs…

A: The variable costs are changed with the level of production and fixed costs remains constant for…

Q: Miller and Sons' static budget for 10,300 units of production includes $36,400 for direct materials,…

A: Flexible budget = (static budget/static budget units)*flexible budget units

Q: Trico Company set the following standard unit costs for its single product.         Direct…

A: Solution 1:                         Direct Material Cost Variance Actual Cost     Standard cost…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.