Edmonton Pools manufactures swimming pool equipment. Edmonton has estimated the following manufacturing overhead rates using different independent situations: (Click the icon to view the rates.) Read the requirements. 1. Determine the total manufacturing overhead allocated to Edmonton's manufacturing jobs assuming that the company actually used 51,700 direct labor hours. Enter the formula and compute the total manufacturing overhead allocated to Edmonton's manufacturing jobs. Actual direct labor hours Requirements 3. 4. Predetermined overhead rate Determine the total manufacturing overhead allocated to Edmonton's manufacturing jobs in the following independent situations. 1. Assume that the company actually used 51,700 direct labor hours. 2. Assume that the company actually incurred $1,020,000 of direct labor cost. Assume that the company actually ran the machines 39,500 hours. Briefly explain what you have learned about the total manufacturing overhead allocated to production. X Manufacturing = overhead allocated = $ 1,447,600 Data table Direct labor hours Direct labor dollars Machine hours Estimated manufacturing overhead costs $ $ $ 1,400,000 1,400,000 1,400,000 Estimated quantity of allocation base $ 50,000 1,000,000 40,000 Predetermined overhead rate $28.00 per DL hour 140% of DL cost $35.00 per MH

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Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.