Business, 13.04.2021 01:00 aylinkayla

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. Variable manufacturing overhead should be $5.40 per standard direct labor-hour and fixed manufacturing overhead should be $2,679,000 per year. The company’s product requires 4 pounds of material that has a standard cost of $11.50 per pound and 1.5 hours of direct labor time that has a standard rate of $13.70 per hour. The company planned to operate at a denominator activity level of 285,000 direct labor-hours and to produce 190,000 units of product during the most recent year. Actual activity and costs for the year were as follows: Number of units produced 228,000
Actual direct labor-hours worked 370,500
Actual variable manufacturing overhead cost incurred $ 1,148,550
Actual fixed manufacturing overhead cost incurred $ 2,964,000
Required:
1. Compute the predetermined overhead rate for the year. Break the rate down into variable and fixed elements. (Round your answers to 2 decimal places.)
Predetermined overhead rate ? per DLH
Variable rate ? per DLH
Fixed rate ? per DLH
2. Prepare a standard cost card for the company’s product. (Round your answers to 2 decimal places.)
Direct materials ? pounds at ? per pound $0.00
Direct labor ? DLHs at ? per DLH 0.00
Variable overhead ? DLHs at ? per DLH 0.00
Fixed overhead ? DLHs at ? per DLH 0.00
Standard cost per unit $0.00
3a. Compute the standard direct labor-hours allowed for the year’s production.
Standard direct labor hours ?
3b. Complete the following Manufacturing Overhead T-account for the year:
Manufacturing Overhead
Actual costs ? ? Applied costs
? ? ? ?
? ? ? ?
? 0 Overapplied overhead
4.
Determine the reason for the underapplied or overapplied overhead from (3) above by computing the variable overhead rate and efficiency variances and the fixed overhead budget and volume variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i. e., zero variance).)
Variable overhead rate variance ? F
Variable overhead efficiency variance ? U
Fixed overhead budget variance ? U
Fixed overhead volume variance ? F

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 15:00

He cornerstone of arsoac, the is organized into four like battalions and provides nighttime, all-weather, medium range insertion, extraction, and resupply capability in hostile or denied areas.

Answers: 2

Answer

Business, 22.06.2019 01:30

Suppose the following items were taken from the balance sheet of nike, inc. (all dollars are in millions.) 1. cash $ 2,316.7 7. inventory $ 2,245.6 2. accounts receivable 2,786.2 8. income taxes payable 80.3 3. common stock 2,841.1 9. equipment 1,783.8 4. notes payable 291.2 10. retained earnings 6,162.5 5. buildings 3,959.7 11. accounts payable 2,624.6 6. mortgage payable 1,092.3 perform each of the following. classify each of these items as an asset, liability, or stockholdersâ€™ equity, and determine the total dollar amount for each classification. (enter amounts in millions up to 1 decimal place, e.g. 45.5 million.) cash accounts receivable common stock notes payable buildings mortgage payable inventory income taxes payable equipment retained earnings accounts payable assets $ 13092 liability $ 4088.4 stockholdersâ€™ equity $ 9003.6 etextbook and media determine nikeâ€™s accounting equation by calculating the value of total assets, total liabilities, and total stockholdersâ€™ equity. (enter amounts in millions up to 1 decimal place, e.g. 45.5 million.) total assets = total liabilities + total stockholdersâ€™ equity

Answers: 3

Answer

Business, 22.06.2019 07:10

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u.s. parent on bank deposits held in london d. interest received by a u.s. parent on a loan to a subsidiary in mexico e. principal repayment received by u.s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u.s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation

Answers: 2

Answer

Business, 22.06.2019 09:00

Drag the tiles to the correct boxes to complete the pairs.(there's not just one answer)match each online banking security practice with the pci security requirement that mandates it.1. encrypting transfer of card data2. installing a firewall3. installing antivirus software4. assigning unique ids and user namesa. vulnerability management programb. credit card data protectionc. strong access controlsd. secure network

Answers: 3

Answer

You know the right answer?

Lane Company manufactures a single product that requires a great deal of hand labor. Overhead cost i...

Questions