Compute predetermined overhead rate and fixed overhead and variable overhead if company has 30,000 direct labor hours. Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

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Answer 1

Question

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Chapter 10A, Problem 10A.12P

1.

To determine

Compute predetermined overhead rate and fixed overhead and variable overhead if company has 30,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

2.

To determine

Compute predetermined overhead rate and fixed overhead and variable overhead if company has 40,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

3.

To determine

Compute two standard cost having activity of 30,000 direct labor hours and 40,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

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Students have asked these similar questions

the following details are available regarding three products X Y Z $ $ $ selling price 200 300 400 direct materials 20 112 90 ($4 per kg) direct labour 80 44 120 variable overheads 40 22 60 variable overheads are recovered at the rate of $4 per hour. Total fixed overheads are $120,000. You are required to show the priority ranking of the products if labour hours is the limiting factor.

Company XYZ uses machine hours to allocate its manufacturing overhead. The company estimates that total machine hours to be operated next year are 190,000 hours. The estimat variable overhead is $9 per hour and the estimated fixed overhead costs are $152,000. Calculate the predetermined overhead rate. Select one: O a. $10.80 Ob. $9.80

Kirchoff, Inc., manufactures a product with the following costs: Direct materials Per Unit Per Year P18.00 Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable SG&A expenses P11.90 P2.10 P1,422,000 P3.60 Fixed SG&A expenses The pricing calculations are based on budgeted production and sales P1,540,500

Answer 2

Question

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Chapter 10A, Problem 10A.12P

1.

To determine

Compute predetermined overhead rate and fixed overhead and variable overhead if company has 30,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

2.

To determine

Compute predetermined overhead rate and fixed overhead and variable overhead if company has 40,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

3.

To determine

Compute two standard cost having activity of 30,000 direct labor hours and 40,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

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Answer 3

Question

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Chapter 10A, Problem 10A.12P

1.

To determine

Compute predetermined overhead rate and fixed overhead and variable overhead if company has 30,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

2.

To determine

Compute predetermined overhead rate and fixed overhead and variable overhead if company has 40,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

3.

To determine

Compute two standard cost having activity of 30,000 direct labor hours and 40,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

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Answer 4

Question

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Chapter 10A, Problem 10A.12P

1.

To determine

Compute predetermined overhead rate and fixed overhead and variable overhead if company has 30,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

2.

To determine

Compute predetermined overhead rate and fixed overhead and variable overhead if company has 40,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

3.

To determine

Compute two standard cost having activity of 30,000 direct labor hours and 40,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

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Answer 5

Chapter 10A, Problem 10A.12P

1.

To determine

Compute predetermined overhead rate and fixed overhead and variable overhead if company has 30,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

2.

To determine

Compute predetermined overhead rate and fixed overhead and variable overhead if company has 40,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

3.

To determine

Compute two standard cost having activity of 30,000 direct labor hours and 40,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

Answer 6

Chapter 10A, Problem 10A.12P

1.

To determine

Compute predetermined overhead rate and fixed overhead and variable overhead if company has 30,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

Answer 7

Chapter 10A, Problem 10A.12P

1.

To determine

Compute predetermined overhead rate and fixed overhead and variable overhead if company has 30,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

Answer 8

2.

To determine

Compute predetermined overhead rate and fixed overhead and variable overhead if company has 40,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

Answer 9

2.

To determine

Compute predetermined overhead rate and fixed overhead and variable overhead if company has 40,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

Answer 10

3.

To determine

Compute two standard cost having activity of 30,000 direct labor hours and 40,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

Answer 11

3.

To determine

Compute two standard cost having activity of 30,000 direct labor hours and 40,000 direct labor hours.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 10A - Fixed Overhead Variances LO10â€”4 Primara...Ch. 10A - Prob. 10A.2E Ch. 10A - Prob. 10A.3E Ch. 10A - Prob. 10A.4E Ch. 10A - Prob. 10A.5E Ch. 10A - Prob. 10A.6E Ch. 10A - Prob. 10A.7E Ch. 10A - Applying Overhead; Overhead Variances LO10â€”3,...Ch. 10A - Prob. 10A.9P Ch. 10A - Comprehensive Standard Cost Variances LO10â€”1,...

Solution Summary: The author explains that standard costing is used by manufacturers to identify variances or difference that occur in cost.

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