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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)?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…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 $ 6.00
- 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…How 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…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: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 hoursRequired 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…