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help me and solve asap Lone Company manufactures a single product that requires a great deal of hand labor, Overhead cost is applied on the
help me and solve asap
Lone 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. The budgeted variable manufacturing overhead is $5.80 per direct labor-hour and the budgeted fixed manufacturing overhead is $3,087,000 per year. The standard quantity of materials is 4 pounds per unit and the standard cost is $12.50 per pound. The standard direct labor-hours per unit is 15 hours and the standard labor rate is $13.90 per hour. The company planned to operate at a denominator activity level of 315,000 direct labor-hours and to produce 210,000 units of product during the most recent year. Actual activity and costs for the year were as foliows: Actual number of units produced actual direct labor-hour worked Actual variable manufacturing overhead cost incurred Actual fixed manufacturing overhead coat incurred 252,000 409,500 $1,351, 350 53,276,000 Required: 1. Compute the predetermined overhead rate for the year. Break the rate down into variable and fixed elements. 2. Prepare a standard cost card for the company's product. 30. Compute the standard direct labor-hours allowed for the year's production 3b. Complete the following Manufacturing Overhead T-account for the year. 4. Determine the reason for any underapplied or overapplied overhead for the year by computing the variable overhead rate and efficiency variances and the fixed overhead budget and volume variances Complete this question by entering your answers in the tabs below. Reg Reg 2 Red 3A Reg 38 Reg 1 Required: 1. Compute the predetermined overhead rate for the year. Break the rate down into variable and fixed elements. 2. Prepare a standard cost card for the company's product. 3a. Compute the standard direct labor-hours allowed for the year's production 3b. Complete the following Manufacturing Overhead T-account for the year. 4. Determine the reason for any underapplied or overapplied overhead for the year by computing the variable overhead rate and efficiency variances and the fixed overhead budget and volume variances, Complete this question by entering your answers in the tabs below. Req1 Req2 Reg Reg 3B Reg 4 Compute the predetermined overhead rate for the year. Break the rate down into variable and Mixed elements. (Round your answers to 2 decimal places.) per DLH Predetermined overhead rate Variable rate por DLH per DLH Fixed rate Req2 > ariances. Complete this question by entering your answers in the tabs below. Req 1 kea 2 Req Req 3B Req 4 Prepare a standard cost card for the company's product. (Round your answers to 2 decimal places.) per pound Direct materials Direct labor Variable overhead Fixed overhead pounds at DLHs at DLHs at per DLH per DLH per DLH DLHs at Standard cost per unit # Next Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req 3A Reg 38 Reg 4 Compute the standard direct labor-hours allowed for the year's production. Standard direct labor hours Req 1 Req 2 Req Req 3B Req 4 Complete the following Manufacturing Overhead T-account for the year. Manufacturing Overhead + Complete this question by entering your answers in the tabs below. Req1 Reg 2 Reg Reg 38 Rok 4 Determine the reason for any underapplied or overapplied overhead for the year 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 ( zero variance). Input all amounts as positive values.) Variable overhead rate variance Variable overhead efficiency variance Fixed overhead budget variance Fixed overhead volume variance
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