Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3. During May, the company operated at 88% of machine-hour capacity. Actual manufacturing overhead costs incurred during the month were as follows Utilities 27,940 Supplies

image text in transcribed
image text in transcribed
3. During May, the company operated at 88% of machine-hour capacity. Actual manufacturing overhead costs incurred during the month were as follows Utilities 27,940 Supplies 11,410 Indirect labour 15,330 Maintenance 40,210 16,000 Supervision Total actual manufacturing overhead cost $110,890 Fixed costs had no budget variances Prepare an overhead performance report for May Include both fixed and variable costs in your report (n separate sections) Structure your report so that it shows only a spending variance for variable overhead. The company originally budgeted to work 44 800 machine-hours during the month standard hours allowed for the month production totaled 45 800 machine hours (ndicate the effect of each variance by selecting "F" for favorable, for unfavorable, and None tor no effect (i e.. zero variance) Round "Cost Formula per MH" answers to 2 decimal places.) lexible Formula Actual Cost Budget per 49,280 MH 49,280 MH Overhead Costs Spending Variance Variable overhead costs Utilities Supplies Indirect labour Maintenance Supervision Total variable overhead cost 0 00 Fixed overhead costs Maintenance Supervision 3. During May, the company operated at 88% of machine-hour capacity. Actual manufacturing overhead costs incurred during the month were as follows Utilities 27,940 Supplies 11,410 Indirect labour 15,330 Maintenance 40,210 16,000 Supervision Total actual manufacturing overhead cost $110,890 Fixed costs had no budget variances Prepare an overhead performance report for May Include both fixed and variable costs in your report (n separate sections) Structure your report so that it shows only a spending variance for variable overhead. The company originally budgeted to work 44 800 machine-hours during the month standard hours allowed for the month production totaled 45 800 machine hours (ndicate the effect of each variance by selecting "F" for favorable, for unfavorable, and None tor no effect (i e.. zero variance) Round "Cost Formula per MH" answers to 2 decimal places.) lexible Formula Actual Cost Budget per 49,280 MH 49,280 MH Overhead Costs Spending Variance Variable overhead costs Utilities Supplies Indirect labour Maintenance Supervision Total variable overhead cost 0 00 Fixed overhead costs Maintenance Supervision

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions