Performance Report Based on Actual Production Cerium Inc. produces a variety of household cleaning products. Cerium's controller has developed standard costs for the following four overhead items: Variable Rate per Direct Labor Hour $0.20 Overhead Total Fixed Item Maintenance Cost $ 113,000 Power Indirect 140,000 labor 35,000 Rent Assume that actual production required 60,000 direct labor hours at standard. The actual overhead costs incurred were as follows: $126,800 40,300 361,400 35,000 Maintenance Power Indirect labor Rent Required: Prepare a performance report for the period based on actual production. If an amount box does not require an entry, enter "0". Enter all values as a positiv amount, including variances. If an amount is zero, enter "0" and choose "Not applicable", otherwise choose favorable or unfavorable from the drop down list. Direct labor hours based on actual Overhead: 0.68 3.70 Maintenance Power Indirect labor Rent Total overhead Performance Report Actual Budgeted* Variance $
Performance Report Based on Actual Production Cerium Inc. produces a variety of household cleaning products. Cerium's controller has developed standard costs for the following four overhead items: Variable Rate per Direct Labor Hour $0.20 Overhead Total Fixed Item Maintenance Cost $ 113,000 Power Indirect 140,000 labor 35,000 Rent Assume that actual production required 60,000 direct labor hours at standard. The actual overhead costs incurred were as follows: $126,800 40,300 361,400 35,000 Maintenance Power Indirect labor Rent Required: Prepare a performance report for the period based on actual production. If an amount box does not require an entry, enter "0". Enter all values as a positiv amount, including variances. If an amount is zero, enter "0" and choose "Not applicable", otherwise choose favorable or unfavorable from the drop down list. Direct labor hours based on actual Overhead: 0.68 3.70 Maintenance Power Indirect labor Rent Total overhead Performance Report Actual Budgeted* Variance $
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter9: Profit Planning And Flexible Budgets
Section: Chapter Questions
Problem 64E: Use the following information for Exercises 9-63 and 9-64: Palladium Inc. produces a variety of...
Related questions
Question
don't give answer in image format
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,