5, E11-29A (similar to) Part 5 of 10 HW Score: 53.01%, 3.18 of 6 points Points: 0.32 of 1 Save Watson Foods processes bags of organic frozen fruits sold at specialty grocery stores. (Click the icon to view additional information.) Read the requirements. Requirement 1. How much variable overhead would have been allocated to production? How much fixed Clear all Final check More info The company allocates manufacturing overhead based on direct labor hours. Watson has budgeted fixed manufacturing overhead for the year to be $628,000. The predetermined fixed manufacturing overhead rate is $16.80 per direct labor hour, while the standard variable manufacturing overhead rate is $1.00 per direct labor hour. The direct labor standard for each case is one-quarter (0.25) of an hour. The company actually processed 152,000 cases of frozen organic fruits during the year and incurred $694,530 of manufacturing overhead. Of this amount, $646,000 Print Done ie More info Watson has budgeted fixed manufacturing overhead for the year to be $628,000. The predetermined fixed manufacturing overhead rate is $16.80 per direct labor hour, while the standard variable manufacturing overhead rate is $1.00 per direct labor hour. The direct labor standard for each case is one-quarter (0.25) of an hour. I The company actually processed 152,000 cases of frozen organic fruits during the year and incurred $694,530 of manufacturing overhead. Of this amount, $646,000 was fixed. The company also incurred a total of 42,200 direct labor hours. Print Done - Requirements 1. How much variable overhead would have been allocated to production? How much fixed overhead would have been allocated to production? 2. Compute the variable MOH rate variance and the variable MOH efficiency variance. What do these variances tell managers? 3. Compute the fixed MOH budget variance and the fixed overhead volume variance. What do these variances tell managers? Print Done Question 5, E11-29A (similar to) Part 5 of 10 HW Score: 53.01%, 3.18 of 6 points Points: 0.32 of 1 Save Watson Foods processes bags of organic frozen fruits sold at specialty grocery stores. Requirement 1. How much variable overhead would have been allocated to production? How much fixed overhead would have been allocated to production? The variable overhead allocated to production is $ 38,000 Now determine the fixed overhead allocated to production. The fund unrhand allenated to sendunt leo Get more help. - SARA AND Clear all Final check Watson Foods processes bags of organic en fruits sold at specialty grocery Now determine the fixed overhead allocated to production. The fixed overhead allocated to production is $ 638,400 Requirement 2. Compute the variable MOH date variance and the variable MOH efficiency variance. What do these variances tell managers? Begin by determing the formula for the variable MOH rate variance, then calculate the variable overhead rate variance. (Enter the result as a positive number. Enter rates to two decimal places. Label the variance as Begin by determing the formula for the variable MOH rate variance, then calculate the variable overhead rate variance. (Enter the result as a positive number. Enter rates to two decimal places. Label the variance as favorable (F) or unfavorable (U).) Variable overhead Actual hours *( Actual rate Standard rate rate variance 42,200 1.15 1.00 $ 6,330 U Watson Foods processes bags of organic ecialty This variance tells managers that Watson Foods actually incurred more on variable manufacturing overhead than they would have expected given the actual hours used. Now determine the formula for the variable MOH efficiency variance, then calculate the efficiency variance. (Enter the result as a positive number. Enter any rates to two decimal places. Label the variance as favorable (F) or unfavorable (U).) Variable overhead (similar to) Part 5 of 10 3 points Points: 0.32 of 1 Save Watson Foods processes bags of organic frozen fruits sold at specialty grocery stores. Now determine the formula for the variable MOH efficiency variance, then calculate the efficiency variance. (Enter the result as a positive number. Enter any rates to two decimal places. Label the variance as favorable (F) or unfavorable (U).) Variable overhead Standard rate Actual rate Standard hours allowed = efficiency variance