Question
In: Accounting
Holl Corporation has provided the following data for November. Denominator level of activity 4900 machine-hours Budgeted...
Holl Corporation has provided the following data for November.
|
Denominator level of activity |
4900 |
machine-hours |
|
|
Budgeted fixed manufacturing overhead costs |
$ |
58,310 |
|
|
Standard machine-hours allowed for the actual output |
5200 |
machine-hours |
|
|
Actual fixed manufacturing overhead costs |
$ |
57,330 |
Required:
Calculate the following. Input all amounts as positive values
|
FOH Budget Variance |
$ |
|
FOH Volume Variance |
$ |
Solutions
Expert Solution
|
FOH Budget Variance |
$ 980 Favourable |
|
FOH Volume Variance |
$ 3,570 Favourable |
- Working
|
Fixed Overhead Production Budget Variance |
||||||
|
( |
Budgeted Fixed Overhead |
- |
Actual Fixed Overhead incurred |
) |
||
|
( |
$ 58,310.00 |
- |
$ 57,330.00 |
) |
||
|
980 |
||||||
|
Variance |
$ 980.00 |
Favourable-F |
||||
|
Fixed Overhead Production Volume Variance |
||||||
|
( |
Standard Fixed Overhead or Fixed Overhead absorbed = ($58310 / 4900 MHs) x 5200 MHs |
- |
Budgeted Fixed Overhead |
) |
||
|
( |
$ 61,880.00 |
- |
$ 58,310.00 |
) |
||
|
3570 |
||||||
|
Variance |
$ 3,570.00 |
Favourable-F |
||||
ekkarill92 answered 11 months agoRelated Solutions
1. Holl Corporation has provided the following data for November. Denominator level of activity 5,700 machine-hours...
1. Holl Corporation has provided the following data for
November.
Denominator level of activity
5,700
machine-hours
Budgeted fixed manufacturing overhead costs
$
72,390
Standard machine-hours allowed for the actual output
6,000
machine-hours
Actual fixed manufacturing overhead costs
$
71,250
Required:
a. Compute the budget variance for November.
b. Compute the volume variance for November.
(Indicate the effect of each variance by selecting "F"
for favorable, "U" for unfavorable, and "None" for no effect (i.e.,
zero variance). Input all amounts as...
Kerekes Manufacturing Corporation has prepared the following overhead budget for next month. Activity level 3,100 machine-hours...
Kerekes Manufacturing Corporation has prepared the following
overhead budget for next month. Activity level 3,100 machine-hours
Variable overhead costs: Supplies $ 15,810 Indirect labor 27,900
Fixed overhead costs: Supervision 17,000 Utilities 6,500
Depreciation 7,500 Total overhead cost $ 74,710 The company's
variable overhead costs are driven by machine-hours. What would be
the total budgeted overhead cost for next month if the activity
level is 3,000 machine-hours rather than 3,100 machine-hours?
Multiple Choice $72,650 $72,300 $73,300 $74,710
Martinez Corporation applies overhead based upon machine-hours. Budgeted factory overhead was $362,000 and budgeted machine-hours were...
Martinez Corporation applies overhead based upon machine-hours.
Budgeted factory overhead was $362,000 and budgeted machine-hours
were 24,000. Actual factory overhead was $393,000 and actual
machine-hours were 27,000. Before disposition of under/overapplied
overhead, the cost of goods sold was $610,000 and ending
inventories were as follows:
Direct
materials $
80,000
WIP 200,000
Finished
goods 270,000
Total $550,000
Required:
a. Determine the budgeted factory overhead rate
per machine-hour.
b. Compute the over/underapplied overhead.
c. Prepare the journal entry to dispose of the
variance using the write-off to cost of...
Schulz Corporation applies overhead based upon machine-hours. Budgeted factory overhead was $266,400 and budgeted machine-hours were...
Schulz Corporation applies overhead based upon machine-hours.
Budgeted factory overhead was $266,400 and budgeted machine-hours
were 18,500. Actual factory overhead was $287,920 and actual
machine-hours were 19,050. Before disposition of under/overapplied
overhead, the cost of goods sold was $560,000 and ending
inventories were as follows:
Direct Materials: $60,000
WIP: 190,000
Finished Goods: 250,000
Total: $500,000
1) Determine the budgeted factor
overhead rate per machine-hour.
2) Compute the over/underapplied
overhead.
3) Select the journal entry to dispose of the variance
using...
Millner Corporation has provided the following data from its activity-based costing accounting system:Millner Corporation has provided...
Millner Corporation has provided the following data from its activity-based costing accounting system:Millner Corporation has provided the following data from its activity-based costing accounting system:
ACTIVITY COST POOLS TOTAL COST TOTAL ACTIVITY
DESIGNING PRODUCTS $1,372,4478 7,798 PRODUCT DESIGN HOURS
SETTING UP BATCHES 33,300 740 BATCH SET UP
ASSEMBLING PRODUCTS 126,160 6,640 ASSEBLY HOURS
The activity rate for the "designing products" activity cost pool is closest to
Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials...
Bledsoe Corporation has provided the following data for the
month of November:
Beginning
Ending
Raw
materials
$
26,800
$
22,800
Work in
process
$
18,800
$
11,800
Finished
Goods
$
49,800
$
57,800
Additional information:
Raw materials
purchases
$
73,800
Direct labor
cost
$
93,800
Manufacturing
overhead cost incurred
$
43,980
Indirect
materials included in manufacturing overhead cost incurred
$
4,180
Manufacturing
overhead cost applied to Work in Process
$
42,800
Any underapplied or overapplied manufacturing overhead is closed
out...
PROBLEM. 1) Bledsoe Corporation has provided the following data for the month of November: Inventories: Beginning...
PROBLEM. 1) Bledsoe Corporation has provided the following data
for the month of November: Inventories: Beginning Ending Raw
materials $ 26,100 $ 22,100 Work in process $ 18,100 $ 11,100
Finished Goods $ 49,100 $ 57,100 Additional information: Raw
materials purchases $ 73,100 Direct labor cost $ 93,100
Manufacturing overhead cost incurred $ 43,210 Indirect materials
included in manufacturing overhead cost incurred $ 4,110
Manufacturing overhead cost applied to Work in Process $ 42,100 Any
underapplied or overapplied manufacturing overhead...
Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials...
Bledsoe Corporation has provided the following data for the
month of November:
Beginning
Ending
Raw materials
$
26,500
$
22,500
Work in process
$
18,500
$
11,500
Finished Goods
$
49,500
$
57,500
Additional information:
Raw materials purchases
$
73,500
Direct labor cost
$
93,500
Manufacturing overhead cost incurred
$
43,650
Indirect materials included in manufacturing overhead cost
incurred
$
4,150
Manufacturing overhead cost applied to Work in Process
$
42,500
Any underapplied or overapplied manufacturing overhead is closed
out...
Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials...
Bledsoe Corporation has provided the following data for the
month of November:
Beginning
Ending
Raw materials
$
26,800
$
22,800
Work in process
$
18,800
$
11,800
Finished Goods
$
49,800
$
57,800
Additional information:
Raw materials purchases
$
73,800
Direct labor cost
$
93,800
Manufacturing overhead cost incurred
$
43,980
Indirect materials included in manufacturing overhead cost
incurred
$
4,180
Manufacturing overhead cost applied to Work in Process
$
42,800
Any underapplied or overapplied manufacturing overhead is closed
out...
Bledsoe Corporation has provided the following data for the month of November: Beginning Ending Raw materials...
Bledsoe Corporation has provided the following data for the
month of November:
Beginning
Ending
Raw materials
$
25,800
$
21,800
Work in process
$
17,800
$
10,800
Finished Goods
$
48,800
$
56,800
Additional information:
Raw materials purchases
$
72,800
Direct labor cost
$
92,800
Manufacturing overhead cost incurred
$
42,880
Indirect materials included in manufacturing overhead cost
incurred
$
4,080
Manufacturing overhead cost applied to Work in Process
$
41,800
Any underapplied or overapplied manufacturing overhead is closed
out...
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