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I need help with the following three questions, please: What was the Standard cost per lamp for the variable overhead? What was the budgeted fixed
I need help with the following three questions, please:
What was the Standard cost per lamp for the variable overhead?
What was the budgeted fixed overhead?
What was the standard cost per lamp for the fixed overhead?
Variance Analysis Special order lamps are manufactured in division S. Because of the precise nature of the process a standard cost system has been developed. The following standards are used for the special orders: Standards Figurines Electrical Sets Lamp Shade Direct Labor Variable Overhead ** Fixed Overhead Total $ 9.500000 per lamp 1.300000 per lamp per lamp 2.400000 per lamp (4 lampshr.) per lamp (4 lampshr.) per lamp ** Fixed overhead is based on expected production of ##### customized lamps each month. To keep records of the actual cost of a job, a Job Order Cost System has been developed. Entries are made to the Job Order System at actual cost (overhead is applied based on actual labor hours) while entries are made to the accounting system at standard. Variance analysis is used to analyze the differences Job Order Costing Section On January 1, 20x2. Division S began Job 1101 for the Client. THE BIG CHILDREN STORE. The job called for 4,000 customized lamps. The following set of transactions occurred from January 5 until the job was completed: 5-Jan Purchased 4,075 figurines @ $9.75 per figurine. 6-Jan Purchased 4.125 sets of electical components @ $1.60 per set. 7-Jan Purchased 4,000 lamp shades @ $6.60 per set. 8-Jan 4,075 figurines were requisitioned. 9-Jan 4,100 sets of electrical components were requisitioned. 17-Jan Payroll of 590 Direct Labor Hours @ $9.85 per 28-Jan 3,993 lamp shades were requisitioned 30-Jan Payroll of 640 Direct Labor Hours @ $10.10 per hour. 30-Jan 3,993 lamps were completed and shipped. All materials requisitioned were used or scrapped. hour Actual Variable Overhead Actual Fixed Overhead $ 1,500.60 $ 40,123.45 Mary correctly completed the material variances for the lamp shades and the overhead variences. Her work is correct however, in reviewing her work the standards were crossed out. $ $ The total material price variance for the lamp shades purchased: The variable overhead efficiency variance: The variable Oh spending variance: The fixed OH volume (denominator) variance: The fixed OH spending variance: 320.00 Unfavorable 241.02 Unfavorable 221.40 Unfavorable 140.00 Unfavorable 53.45 Unfavorable $ $ Variance Analysis Special order lamps are manufactured in division S. Because of the precise nature of the process a standard cost system has been developed. The following standards are used for the special orders: Standards Figurines Electrical Sets Lamp Shade Direct Labor Variable Overhead ** Fixed Overhead Total $ 9.500000 per lamp 1.300000 per lamp per lamp 2.400000 per lamp (4 lampshr.) per lamp (4 lampshr.) per lamp ** Fixed overhead is based on expected production of ##### customized lamps each month. To keep records of the actual cost of a job, a Job Order Cost System has been developed. Entries are made to the Job Order System at actual cost (overhead is applied based on actual labor hours) while entries are made to the accounting system at standard. Variance analysis is used to analyze the differences Job Order Costing Section On January 1, 20x2. Division S began Job 1101 for the Client. THE BIG CHILDREN STORE. The job called for 4,000 customized lamps. The following set of transactions occurred from January 5 until the job was completed: 5-Jan Purchased 4,075 figurines @ $9.75 per figurine. 6-Jan Purchased 4.125 sets of electical components @ $1.60 per set. 7-Jan Purchased 4,000 lamp shades @ $6.60 per set. 8-Jan 4,075 figurines were requisitioned. 9-Jan 4,100 sets of electrical components were requisitioned. 17-Jan Payroll of 590 Direct Labor Hours @ $9.85 per 28-Jan 3,993 lamp shades were requisitioned 30-Jan Payroll of 640 Direct Labor Hours @ $10.10 per hour. 30-Jan 3,993 lamps were completed and shipped. All materials requisitioned were used or scrapped. hour Actual Variable Overhead Actual Fixed Overhead $ 1,500.60 $ 40,123.45 Mary correctly completed the material variances for the lamp shades and the overhead variences. Her work is correct however, in reviewing her work the standards were crossed out. $ $ The total material price variance for the lamp shades purchased: The variable overhead efficiency variance: The variable Oh spending variance: The fixed OH volume (denominator) variance: The fixed OH spending variance: 320.00 Unfavorable 241.02 Unfavorable 221.40 Unfavorable 140.00 Unfavorable 53.45 Unfavorable $ $Step by Step Solution
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