Langley Manufacturing Ltd. has budgeted fixed manufacturing overhead at $100,000 and per unit variable costs of $3.50 for Direct Materials; $8.95 for Direct Labourand $4.10 for Variable Overhead. With a relevant range of 10,000 to 15,000 units what are the total costs for activity levels of 10,000 units and 14,000 units, respectively?

Langley Manufacturing Ltd. has budgeted fixed manufacturing overhead at $100,000 and per unit variable costs of $3.50 for Direct Materials; $8.95 for Direct Labourand $4.10 for Variable Overhead. With a relevant range of 10,000 to 15,000 units what are the total costs for activity levels of 10,000 units and 14,000 units, respectively?

Name: Langley Manufacturing Ltd. has budgeted fixed manufacturing overhead
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Langley Manufacturing Ltd. has budgeted fixed manufacturing overhead at $100,000 and per unit variable costs of$3.50 for Direct Materials; $8.95 for Direct Labourand $4.10 for Variable Overhead. With a relevant range of 10,000 to15,000 units what ar

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows: Indirect labor Indirect materials Utilities Activity Level Depreciation Fixed overhead costs per month are Supervision $3,600, Depreciation $1,300, and Property Taxes $800. The company believes it will normally operate in a range of 7,100-11,000 direct labor hours per month. Direct Labor Hours Fixed Costs $1.20 Prepare a monthly manufacturing overhead flexible budget for 2020 for the expected range of activity, using increments of 1,300 direct labor hours. (List variable costs before fixed costs.) Indirect Labor Indirect Materials Property Taxes Supervision 0.70 Total Costs Total Fixed Costs Total Variable Costs Utilities Variable Costs 0.20 LA MYERS COMPANY Monthly Manufacturing Overhead Flexible Budget For the Year 2020 LA tA tA
Novak Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows: Indirect labor: $1.10, Indirect materials: 0.80, Utilities 0.50. Fbed overhead costs per month are Supervision $4,000, Depreciation $1, 200, and Property Taxes $800. The company believes it will normally operate in a range of 7, 000-10,000 direct labor hours per month. Prepare a monthly manufacturing overhead flexible budget for 2022 for the expected range of activity, using increments of 1, 000 direct labor hours. (List variable costs before fixed costs)
Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost is applied on the basis of standard direct labor-hours. The budgeted variable manufacturing overhead is $5.00 per direct labor-hour and the budgeted fixed manufacturing overhead is $2,295,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $10.50 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $13.50 per hour. The company planned to operate at a denominator activity level of 255,000 direct labor-hours and to produce 170,000 units of product during the most recent year. Actual activity and costs for the year were as follows: Actual number of units produced 204,000 Actual direct labor-hours worked 331,500 Actual variable manufacturing overhead cost incurred $ 961,350 Actual fixed manufacturing overhead cost incurred $ 2,652,000 Required: 1. Compute the predetermined overhead rate…
< Deluxe, Inc. uses a standard cost system and provides the following information. (Click the icon to view the information.) Deluxe allocates manufacturing overhead to production based on standard direct labor hours. Deluxe reported the following actual results for 2024: actual number of units produced, 1,000, actual variable overhead, $5,000, actual fixed overhead, $3,200; actual direct labor hours, 1,400. Read the requirements Data table Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units Standard direct labor hours Print The fixed overhead cost variance is The fixed overhead volume variance is $2,100 $2,800 1,400 hours 700 units 2 hours per unit Done Requirements 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. 2. Explain why the variances are favorable or unfavorable irect labor hour was sed Print Done because the total fixed overhead cost was because…
A company has two products: A and B. It uses activity-based costing and has prepared the following analysis showing budgeted cost and activity for each of its three activity cost pools: Activity Cost Pool Activity 1 3,000 2,800 Activity 2 4,500 5,500 Activity 3 2,500 5,250 Annual production and sales level of Product A is 34,300 units, and the annual production and sales level of Product B is 69,550 units. What is the approximate overhead cost per unit of Product B under activity-based costing? O $10.28 O $3.00 $2.33 $2.00 O $15.00 Budgeted Activity Budgeted Cost $87,000 $62,000 $93,000 Product A Product B
Ut Ultrasonic manufactures three ultrasound imaging systems: Avex, AvexII, and Mel. Overhead is allocated to each system based on standard direct material dollars in each system. The firm uses a flexible overhead budget to calculate the overhead rate for the coming year, where budgeted volume is based on expected (projected) direct material dollars. The following table summarizes operations for the year: Selling price Projected production (units) Standard direct labor per unit Standard direct materials per unit Actual units produced Total direct materials actually used Avex $7,800 1,200 $150 $2,600 1,400 $3,967,600 Avexl $10,700 650 $200 $3,300 530 $1,679,040 Mel $15,750 350 $420 $4,800 410 $2,027,040 Fixed manufacturing overhead was budgeted at $7.5 million, and variable overhead was budgeted at $0.30 per direct material dollar. In other words, each dollar spent on direct materials is expected to generate $0.30 of variable manufacturing overhead. Actual overhead incurred during the…
Provide the Correct answer
Compute the predetermined variable overhead rate and the predetermined fixed overhead rate Stevens door mat. Stevens uses a standard cost system and determines that it should take one hour of direct labor to produce one door mat. The normal production capacity for this mat is 125,000 units per year. The total budgeted overhead at normal capacity is 1,062,500 comprised of 437,500 of variable costs and 625,000 of fixed costs. It applies overhead on the basis of direct labor hours. During the current year, produced 73,100 mats, worked 86,700 direct labor hours, and incurred variable overhead costs of 186,405 and fixed overhead costs of 562,350.
Which one is the correct answer?
Which one is the correct answer?
Dineshbhai
Boston Ltd makes a single product and provides the following detail for its activities and its product at the start of the period: Budgeted overhead = £400,000 Budgeted output in units = 25,000 units Bentley’s actual results at the end of the period were: Actual overhead = £380,000 Actual output = 24,500 units If Boston absorbs overheads based on the number of units produced, the business will have under/over-absorbed overheads by how much at the end of the period?