Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How were the numbers written in pencil calculated? If standard unit costs for single product based on 80% operating capacity of 40,000 units. Direct materials

How were the numbers written in pencil calculated?

image text in transcribed

image text in transcribed

If standard unit costs for single product based on 80% operating capacity of 40,000 units. Direct materials (5# @ $4 per #) $20 Direct labor (2 hrs @ 8.75 per hr) $17.50 Factory overhead: variable (2 hrs @ $3 per hr) $6 Factory overhead: fixed (2 hrs @ $7 per hr) $14 Total standard cost $57.50 Complete the following flexible budget information: Operating Levels 60% 70% 30,000 35,000 100.000 70,000 80% 40,000 80,000 Production in units Standard direct labor hours Budgeted overhead Variable factory overhead units of production X2 X3 Fixed factory overhead 180,000 210,00 S600 s $240,000 $560,000 During the current year, the company operated at 60% capacity and produced 30,000 units of product. Actual costs incurred during the year were: Direct materials (150,350# @ $4.10 per #) Direct labor (59,800 hrs @ $8.70 per hr) Variable factory overhead costs Fixed factory overhead costs Total actual costs $ 616,435 520,260 192,000 552,000 $ 1,880,695

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_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

University Auditing In The Digital Era Challenges And Lessons For Higher Education Professionals And CAEs

Authors: Sezer Bozkus Kahyaoglu; Erman Coskun

1st Edition

0367553228, 9780367553227

More Books

Students also viewed these Accounting questions