The Principles Corporation is a manufacturer of centrifuges. Fixed and variable manufacturing overheads are allocated to each centrifuge using budgeted assembly-hours. Budgeted assembly time is 2 hours per unit. The following table showsthe budgeted amounts and actual results related to overhead for June 2020.E (Click the icon to view the table.)RequirementsRead the requirements.Requirement 1. Prepare an analysis of all variable manufacturing overhead and fixed manufacturing overhead variances.1.Prepare an analysis of all variable manufacturing overhead and fixedmanufacturing overhead variances.Begin by calculating the following amounts for the variable overhead (OH).2. Prepare journal entries for Principles' June 2020 variable and fixedmanufacturing overhead costs and variances; write off these variances toCost of Goods Sold for the quarter ending June 30, 2020.Actual InputActual CostsFlexibleAllocated3.How does the planning and control of variable manufacturing overhead costsdiffer from the planning and control of fixed manufacturing overhead costs?IncurredBudgeted RateBudgetOverheadVariable OHPrintDoneData TableActualStaticThe Principles Corporation (June 2020)ResultsBudgetNumber of centrifuges assembled and sold124135Hours of assembly time220Variable manufacturing overhead cost per hour of assembly time$31Variable manufacturing overhead costs$7,280Fixed manufacturing overhead costs$13,250 $12,150Enter any number in the edit fields and then click Check Answer.PrintDone13 partsremainingClear AllCheck Answer

Name: The Principles Corporation is a manufacturer of centrifuges. Fixed an
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Description: The Principles Corporation is a manufacturer of centrifuges. Fixed and variable manufacturing overheads are allocated to each centrifuge using budgeted assembly-hours. Budgeted assembly time is 2 hours per unit. The following table showsthe budgeted

Variable cost includes all costs that vary directly with the volume of output. That is, variable…

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Prepare an analysis of all variable manufacturing overhead and manufacturing overhead variances. Prepare journal entries for Principles' June 2020 variable and fix

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead

Section: Chapter Questions

Problem 21E: Georgia Gasket Co. budgets 8,000 direct labor hours for the year. The total overhead budget is...

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