Cherokee Company applies factory overhead on the basis of direct labor hours. Budget and actual data for direct labor and overhead for the year are as follows:                                                      Budget           Actual  Direct labor hours                         600,000       650,000 Budget Factory Overhead Costs   720,000       760,000 What is the budgeted, standard and actual rate?

Q: Franklin manufactures pipes and applies manufacturing overhead costs to production at a budgeted…

A: The amount of manufacturing overhead allocated to all the jobs during June 2020 is $72000

Q: Aneto productions uses a predetermined overhead recovery rate based on hours. A summary of the…

A: This question deals with the calculation of budgeted level of machine hour. We have been given…

Q: Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory…

A:

Q: Botosan Factory has budgeted factory overhead for the year at $666,573, and budgeted direct labor…

A: Overhead allocation refers to the distribution of the indirect costs for the produced goods and in…

Q: GB Corporation has a standard cost system in which it applies manufacturing overhead to products on…

A: Fixed overhead budget variance = Budgeted fixed manufacturing overhead cost - Actual fixed…

Q: The total factory overhead for Big Light Company is budgeted for the year at $1,610,700. Big Light…

A: Solution a: Total nos of budgeted direct labor hours = (14900*2) + (17600*3) = 29800  +52800 = 82600…

Q: Electric Car Company listed the following data for the current year: Budgeted factory overhead…

A: Overhead is applied on predetermined overhead rate here based on direct labor hours. Then apply…

Q: Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for…

A: Variable cost: It is the cost that changes with the change in level of output. e.g., Direct…

Q: The Botosan Factory has determined that its budgeted factory overhead budget for the year is…

A: Manufacturing overhead costs: The expenses that are not directly related to the manufacturing…

Q: Kerekes Manufacturing Corporation has prepared the following overhead budget for next month.…

A: There are two types of costs - Fixed cost and variable cost.   Fixed cost will not change according…

Q: eall Corporation has a standard cost system in which it applies manufacturing overhead to products…

A: Particulars Amount ($) Budgeted Fixed Manufacturing Overhead (FMO) Cost (A) 70000 Budgeted Level…

Q: From the following details provided by​ Joey, Inc., what is the budgeted manufacturing overhead…

A: Budgeted manufacturing overhead cost is the sum of  Variable manufacturing overhead cost and Fixed…

Q: Leno Manufacturing Company prepared the following factory overhead cost budget for the Press…

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

Q: Kecilyn Manufacturing uses the direct labor cost method for applying factory overhead to production.…

A: Predetermined factory Overhead rate = Budgeted factory overhead cost / Budgeted direct labor costs

Q: Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current…

A: Standard fixed cost=Budgeted fixed overheadUnits Budgeted

Q: ard machine-hours (MHs). The company has provided the following data for the most recent month:

A: The total cost of production of a good comprises of the total fixed cost of production and the total…

Q: The Finishing Department of Pinnacle Manufacturing Co. prepared the following factory overhead cost…

A: Idea hours = 10000 -9000 =1000 hours

Q: Ravine Ltd determines the price of jobs using time and material pricing. Budgeted information…

A: It is assumed that  Material handling and storage overhead is allocated on the basis of material…

Q: Schneider inc. had the following information relating to year 1:  Budgeted manufacturing overhead…

A: Overheads are considered as fixed and common expenses that should be allocated to the products on…

Q: The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following…

A:

Q: Below are the actual overhead and actual activities for the three (3) production departments at…

A: Overheads are operating costs of a business which can not be directly traced to a particular unit of…

Q: Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for…

A: Variances refer to the difference between the actuals and standard parameters relating to…

Q: If factory overhead is to be applied based on direct labor hours, the predetermined overhead rate is…

A: Predetermined overhead rate Predetermined overhead rate is an allocation rate that applies a certain…

Q: he total factory overhead for Diva-nation is budgeted for the year at $180,000, divided into four…

A: Factory Overhead: These are the manufacturing expenditure incurred in the production of goods that…

Q: Wadding Corporation applies manufacturing overhead to products on the basis of standard…

A: Total budgeted variable overhead costs = supplies + indirect labor = $12880+49000 = $61,880 Stnadrad…

Q: Kecilyn Manufacturing uses the direct labor cost method for applying factory overhead to production.…

A: Overhead rate = Budgeted factory overhead cost / Budgeted direct labor costs =800000/1000000 = P0.80

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: The following budget data are available for Sharp Company: Estimated direct labor hours 12,000…

A: Predetermined overhead rate is used to calculate the estimated overhead. It shows the rate at which…

Q: Ripley, Inc., costs products using a normal costing system. The following data are available forlast…

A: The predetermined overhead rate is used for determining the standard cost of a product.

Q: The following information was gathered for Larsen Corp. for the year ending 20xx.   Budgeted…

A: Direct Labors are those labors which are directly involved in a company's workforce for production…

Q: Ripley, Inc., costs products using a normal costing system. The following data are available for…

A: Predetermined overhead rate = Budgeted overhead/Budgeted  direct labor hours

Q: Kerekes Manufacturing Corporation has prepared the following overhead budget for next month.…

A: The total variable cost changes with change in activity level, but total fixed cost remains constant…

Q: Kerekes Manufacturing Corporation has prepared the following overhead budget for next month.…

A: Total overhead cost=Variable overhead costs+Fixed overhead costs

Q: A company uses normal costing. It allocates manufacturing overhead costs using a budgeted rate per…

A: Budgeted manufacturing overhead rate per machine hour = Budgeted manufacturing overhead costs /…

Q: Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for…

A: Favorable variance means the actual expenditure are lower than the budgeted expenditure.

Q: Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for…

A:

Q: Topeka Plastics Inc. prepared the following factory overhead cost budget for the Trim Department for…

A: SOLUTION- FACTORY OVERHEAD COST- IT IS THE COST INCURRED DURING THE MANUFACTURING PROCESS , NOT…

Q: Mountain Peaks applies overhead on the basis of machine hours and reports the following information:…

A: PREDETERMINED OVERHEAD RATE :  = BUDGETED OVERHEAD / BUDGETED HOURS  = $450,000 / $50,000 = $9

Q: ABC Company listed the following data for the current year:             Budgeted factory overhead…

A: As per the given information: Computation of Predetermined overhead rate based on direct labor…

Q: iger Equipment Inc., a manufacturer of construction equipment, prepared the following factory…

A: Tiger Equipment Inc. Factory Overhead Cost Variance Report—Welding Department For the Month Ended…

Q: Rafner Manufacturing identified the following budgeted data in its two production departments.…

A: The overhead rate is a cost allocated to the production of a product or service. Overhead costs are…

Q: Use the budget data shown below for Sharp Company to answer the question that follow: Estimated…

A: Overhead applied = Overhead rate based on direct labor hour  * Actual labor hour

Q: The Finishing Department of Pinnacle Manufacturing Co. prepared the following factory overhead cost…

A:

Q: Woodman Company applies factory overhead on the basis of direct labor hours. Budget and actual data…

A: Factory Overheads are the indirect costs and expenses related to manufacturing and production of…

Q: Are the answers correct?

A: Variances are computed by subtracting the budgeted costs from actual costs. When actual…

Q: Mountain Peaks applies overhead on the basis of machine hours and reports the following information:…

A: A. Predetermined overhead rate = Budgetd overhead / Budgeted machine hours = $420000/70000 hours =…

Q: Kerekes Manufacturing Corporation has prepared the following overhead budget for next month.…

A: Total Budgeted overhead: The amount of overhead expense that has been budgeted for a time or phase,…

Q: The Pipe Company manufactured two products A and B during the first year of its operations. For…

A:

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.