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- Ripley, Inc., costs products using a normal costing system. The following data are available for last year: Overhead is applied on the basis of direct labor hours. Required: 1. What was the predetermined overhead rate? 2. What was the applied overhead for last year? 3. Was overhead over- or underapplied, and by how much? 4. What was the total cost per unit produced (carry your answer to four significant digits)?COTB MC Qu. 10-69 (Algo) Assume the following information appears in... Assume the following information appears in the standard cost card for a company that makes only one product: Standard Quantity or Hours Standard Price or Rate 5 pounds $11.00 per pound 2 hours $17.00 per hour 2 hours. $ 3.00 per hour Direct materials Direct labor Variable manufacturing overhead During the most recent period, the following additional information was available: 20,800 pounds of material was purchased at a cost of $10.50 per pound. . All of the material that was purchased was used to produce 3,900 units. . • 8,000 direct labor-hours were recorded at a total cost of $132,000. . What is the direct materials price variance? Multiple Choice $10,400 F $9,750 F $9,750 U $10,400 U Standard Cost $ 55.00 $ 34.00 $ 6.00How can I resolved this problem Puvo, Incorporated, manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct labor-hours. The company uses a standard cost system and has established the following standards for one unit of product: Standard Quantity Standard Price or Rate Standard Cost Direct materials 7.0 pounds $ .80 per pound $ 5.60 Direct labor 0.7 hours $ 45.50 per hour $ 31.85 Variable manufacturing overhead 0.7 hours $ 9.70 per hour $ 6.79 During March, the following activity was recorded by the company: The company produced 3,600 units during the month. A total of 20,600 pounds of material were purchased at a cost of $14,780. There was no beginning inventory of materials on hand to start the month; at the end of the month, 4,820 pounds of material remained in the warehouse. During March, 1,210 direct labor-hours were worked at a rate of $42.50 per hour. Variable manufacturing overhead costs during…
- A Company establishes the following standards for the costs of one unit of its product. The standard production overhead costs per unit are bascd on direct-labor hours. Calculation for standard per unit cost is as follows: Std Cost Std Qty 3.00 kg | Direct Material Direct Labor Variable Overhead Fixed Overhead* |Total *based on practical capacity of 20,000 direct-labor hour per month Std Price/Rate $ 8.25 per kg $ 10.00 per hour $ 10.00 per hour $ 7.50 per hour 24.75 $ 20.00 2.00 hour $ 20.00 2.00 hour 15.00 2.00 hour 79.75 During December 2020, the Company purchased 30,000 kg of direct material at a total cost of $246,000. The total wages for December were $260,000, 75% of which were for direct labor. The Company manufactured 9,500 units of product during December 2020, using 28,400 kg of the direct material purchased in December and 18,900 direct-labor hours. Actual variable and fixed overhead cost were $200,000 and $150,000, respectively. The scheduled production for the month was…Required information [The following information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct materials: 5 pounds at $8.00 per pound Direct labor: 2 hours at $14 per hour Variable overhead: 2 hours at $5 per hour Total standard cost per unit $ 40.00 28.00 10.00 $78.00 The planning budget for March was based on producing and selling 25,000 units. However, during March the company actually produced and sold 30,000 units and incurred the following costs: a. Purchased 160,000 pounds of raw materials at a cost of $7.50 per pound. All of this material was used in production. b. Direct laborers worked 55,000 hours at a rate of $15.00 per hour. c. Total variable manufacturing overhead for the month was $280,500. 8. What direct labor cost would be included in the company's flexible budget for March? Direct labor…Required information [The following information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: $ 55.00 Direct material: 5 pounds at $11.00 per pound Direct labor: 3 hours at $12 per hour Variable overhead: 3 hours at $7 per hour 36.00 21.00 Total standard variable cost per unit $112.00 The company also established the following cost formulas for its selling expenses: Variable Cost per Unit Sold Fixed Cost Advertising Sales salaries and commissions Shipping expenses per Month $ 280,000 $ 260,000 $ 20.00 $ 11.00 The planning budget for March was based on producing and selling 21,000 units. However, during March the company actually produced and sold 26,600 units and incurred the following costs: a. Purchased 154,000 pounds of raw materials at a cost of $9.50 per pound. All of this material was used in production.…
- World Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Inputs Direct materials Direct labor Variable manufacturing overhead Standard Quantity or Hours per Unit of Output O 24.979 grams O 28,980 grams O 26,900 grams O 26,910 grams 6.9 grams 0.90 hours 0.90 hours Standard Price or Rate S 9.20 per gram S 21.20 per hour S 3.60 per hour The actual output for the period was 3,900 units. The standard amount of materials allowed for the actual output is closest to:Required information [The following information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct material: 4 pounds at $10.00 per pound $ 40.00 Direct labor: 2 hours at $16 per hour 32.00 Variable overhead: 2 hours at $6 per hour 12.00 Total standard variable cost per unit $ 84.00 The company also established the following cost formulas for its selling expenses: Fixed Cost per Month Variable Cost per Unit Sold Advertising $ 270,000 Sales salaries and commissions $ 240,000 $ 19.00 Shipping expenses $ 10.00 The planning budget for March was based on producing and selling 30,000 units. However, during March the company actually produced and sold 34,500 units and incurred the following costs: Purchased 150,000 pounds of raw…Data for the past two years for Behavior Corp. are: 20A 20B Units produced 10,000 11,000 Overhead applied per unit P15 P15 Actual overhead: Fixed 50,000 55,000 Variable 95,000 150,000 Estimated overhead: Fixed 50,000 56,000 Variable 130,000 142,000 The company determines overhead rates based on estimated units to be produced. Required: Determine the estimated units of production used to obtain the overhead allocation rates in 20A and 20B. Determine the over- or underapplied factory overhead for each of the two years.
- Use the following information to answer items #31-#34:Standard Company has developed standard manufacturing overhead costs based on a capacity of 180,000 direct labor-hours (DLHS) as follows: Standard overhead costs per unit: Variable portion (2 DLH @ P3.00/DLH Fixed portion (2 DLH @ P5.00/DLH 10.00 The following data pertain to operations in April: Actual Output P 6.00 80,000 units Actual direct labor cost P 644.000 Actual direct labor hours worked 165,000 DLHS P 518,000 P 860,000 Variable overhead cost incurred Fixed overhead cost incurred 31. The variable overhead spending variance for April was:Required information [The following information applies to the questions displayed below.] Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $4.40 per pound) Direct labor (6 hours @ $14 per hour) Variable overhead (6 hours @ $9 per hour) Fixed overhead (6 hours @ $12 per hour) Standard cost per unit Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 55,000 units per quarter. The following additional information is available. Operating Levels Production (in units) Standard direct labor hours (6 DLH/unit) Budgeted overhead (flexible budget) Fixed overhead Variable overhead $ 132.00 84.00 54.00 72.00 $342.00 Direct materials (1,485,000 pounds @ $4.40 per pound) Direct labor (297,000 hours @ $14 per hour) Overhead (297,000 hours @ $21 per hour) Standard (budgeted) cost Actual costs incurred during the current quarter follow. Direct…Following data relate to the fixed factory overhead of Cendant Corporation: Actual fixed factory overheads Fixed factory overhead rate Productive capacity at 100% level (in hours) Standard hours for actual units produced Determine the fixed factory overhead volume variance. a. $0 b. $6,000 Favorable c. $8,000 Favorable d. $6,000 Unfavorable Answer U $90,000 $6.00 per hour 15,000 hours 14,000 hours