Answered step by step
Verified Expert Solution
Question
1 Approved Answer
10-Great Lokes Company (GLC) manufactures high-end custom couches. GLC usually Oses a manufacturing overhead by applying a traditional predetermined manufacturing overhead based on direct labor
10-Great Lokes Company (GLC) manufactures high-end custom couches. GLC usually Oses a manufacturing overhead by applying a traditional predetermined manufacturing overhead based on direct labor hours, this year is predetermined to be $25DLH. The new controller is evaluating the use of activity-based driver rates to apply manufacturing overhead costs and has assembled the following budgeted amounts and actual activity required to produce Job #343. 11- Cabinet Co. has the following per-unit standards for its cabinets: 8ft2 of direct materials at $4.00 per ft2. Last month, 8,000ft2 of materials were purchased for $37,800. What is the direct materials price variance for last month? Is it favorable or unfavorable? What is the direct materials price variance for last month if the materials were purchased for $31,000 instead? 12-For 2022, Blue Co. estimates manufacturing overhead of $350,000, and applies overhead to units produced based on 180,000 machine hours. During 2022, Blue Co. used 175,210 machine hours and incurred manufacturing overhead of $359,134. Was manufacturing overheard underopplied or overapplied? For how much
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started