Question
In: Accounting
Colusa Company makes galvanized steel feed buckets for farmers and uses standard costing in order to...
Colusa Company makes galvanized steel feed buckets for farmers and uses standard costing in order to control its costs. The following are standard costs for a steel feed bucket:
DM (2 lb. of steel at 4$ per lb.) $8
DL (.75 hours at $16 an hour) 12
Variable overhead (0.75 hr at $20 an hr.) 15
Standard Variable cost per unit 35
The following data applies to November during wich 6,000 buckets were produced and sold:
DM(11,900 lbs.) $45,220
DL(4,600 hours) $69,000
VOH $94,300
Compute materials, labor and variable overhead variances.
Solutions
ekkarill92 answered 2 years agoRelated Solutions
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During the year, a large quantity of furniture on the market
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Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system...
Luzadis Company makes furniture using the latest automated
technology. The company uses a job-order costing system and applies
manufacturing overhead cost to products on the basis of
machine-hours. The predetermined overhead rate was based on a cost
formula that estimates $1,207,000 of total manufacturing overhead
for an estimated activity level of 71,000 machine-hours.
During the year, a large quantity of furniture on the market
resulted in cutting back production and a buildup of furniture in
the company’s warehouse. The company’s...
Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system...
Luzadis Company makes furniture using the latest automated
technology. The company uses a job-order costing system and applies
manufacturing overhead cost to products on the basis of
machine-hours. The predetermined overhead rate was based on a cost
formula that estimates $1,615,000 of total manufacturing overhead
for an estimated activity level of 85,000 machine-hours.
During the year, a large quantity of furniture on the market
resulted in cutting back production and a buildup of furniture in
the company’s warehouse. The company’s...
Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system...
Luzadis Company makes furniture using the latest automated
technology. The company uses a job-order costing system and applies
manufacturing overhead cost to products on the basis of
machine-hours. The predetermined overhead rate was based on a cost
formula that estimates $1,068,000 of total manufacturing overhead
for an estimated activity level of 89,000 machine-hours.
During the year, a large quantity of furniture on the market
resulted in cutting back production and a buildup of furniture in
the company’s warehouse. The company’s...
Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system...
Luzadis Company makes furniture using the latest automated
technology. The company uses a job-order costing system and applies
manufacturing overhead cost to products on the basis of
machine-hours. The predetermined overhead rate was based on a cost
formula that estimates $1,066,000 of total manufacturing overhead
for an estimated activity level of 82,000 machine-hours.
During the year, a large quantity of furniture on the market
resulted in cutting back production and a buildup of furniture in
the company’s warehouse. The company’s...
Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system...
Luzadis Company makes furniture using the latest automated
technology. The company uses a job-order costing system and applies
manufacturing overhead cost to products on the basis of
machine-hours. The predetermined overhead rate was based on a cost
formula that estimates $1,207,000 of total manufacturing overhead
for an estimated activity level of 71,000 machine-hours.
During the year, a large quantity of furniture on the market
resulted in cutting back production and a buildup of furniture in
the company’s warehouse. The company’s...
Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system...
Luzadis Company makes
furniture using the latest automated technology. The company uses a
job-order costing system and applies manufacturing overhead cost to
products on the basis of machine-hours. The predetermined overhead
rate was based on a cost formula that estimates $980,000 of total
manufacturing overhead for an estimated activity level of 98,000
machine-hours.
During the year, a
large quantity of furniture on the market resulted in cutting back
production and a buildup of furniture in the company’s warehouse.
The company’s...
Luzadis Company makes furniture using the latest automated technology. The company uses job-order costing system and...
Luzadis Company makes furniture using the latest automated
technology. The company uses job-order costing system and applies
manufacturing overhead cost to products on the basis of
machine-hours. The following estimates were used in preparing the
predetermined overhead rate at the beginning of the year.
Machine Hours: 75,000
Fixed Manufacturing overhead Cost $795,000
Variable manufacturing overhead per
computer-hour $1.40
During the year, a glut of furniture on the market resulted in
cutting back production and a buildup of furniture in the...
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