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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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Bulger Company provided the following data:

Chapter 10, Problem 41BEB, Bulger Company provided the following data: Required: 1. Calculate the standard hours allowed for

Required:

  1. 1. Calculate the standard hours allowed for actual production.
  2. 2. Calculate the applied fixed overhead.
  3. 3. Calculate the total fixed overhead variance.

1.

To determine

Compute the standard direct labor hours for the actual production.

Explanation

Standard Labor Hours Allowed:

The labor hours which are required to produce the actual amount of production output is known as standard hours allowed.

Use the following formula to calculate the amount of standard labor hours:

Standard Hours=Unit Labor Standard×Actual Output

Substitute 6 hours for unit labor standard and 20,000 for actual output in the above formula

2.

To determine

Compute the amount of applied fixed overhead.

3.

To determine

Compute the amount of total fixed overhead variance.

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