Question
How do you calculate the total over- or underapplied total fixed manufacturing overhead for Bullseye. Given information: Standard Quantity Standard Price (Rate) Standard Unit Cost
How do you calculate the total over- or underapplied total fixed manufacturing overhead for Bullseye.
Given information:
Standard Quantity Standard Price (Rate) Standard Unit Cost
Direct materials (cork board) 2.5sq. ft. $2.00per sq. ft. $ 5.00
Direct labor 1hrs. $14.00per hr. 14.00
Variable manufacturing overhead (based on direct labor hours) 1hrs. $0.50per hr. 0.50
Fixed manufacturing overhead ($40,000 160,000 units)0.25
Bullseye has the following actual results for the month of September:
Number of units produced and sold140,000
Number of square feet of corkboard used360,000
Cost of corkboard used$756,000
Number of labor hours worked148,000
Direct labor cost$1,938,800
Variable overhead cost$72,000
Fixed overhead cost$50,000
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