Question
Lane Company manufactures a single product and applies overhead cost to that product using standard direct labor-hours. The budgeted variable manufacturing overhead is $2.40 per
Lane Company manufactures a single product and applies overhead cost to that product using standard direct labor-hours. The budgeted variable manufacturing overhead is $2.40 per direct labor-hour and the budgeted fixed manufacturing overhead is $384,000 per year.
The standard quantity of materials is 4 pounds per unit and the standard cost is $4.00 per pound. The standard direct labor-hours per unit is 1.5 hours and the standard labor rate is $12.20 per hour.
The company planned to operate at a denominator activity level of 60,000 direct labor-hours and to produce 40,000 units of product during the most recent year. Actual activity and costs for the year were as follows:
Actual number of units produced | 48,000 | |
Actual direct labor-hours worked | 78,000 | |
Actual variable manufacturing overhead cost incurred | $ | 124,800 |
Actual fixed manufacturing overhead cost incurred | $ | 429,000 |
Required: 3b. Complete the following Manufacturing Overhead T-account for the year. **Below are photos of the question required (3b.), please help I have posted this question several time but quite don't get the complete entire answers. **Blank spaces have to be filled in with the answers ****Amounts below in the table are the answers I got wrong now |
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