Lane Company manufactures a single product that requires a great dea standard direct labor-hours. The budgeted variable manufacturing over manufacturing overhead is $2,484,000 per year. The standard quantity of materials is 4 pounds per unit and the standard unit is 1.5 hours and the standard labor rate is $13.60 per hour. The company planned to operate at a denominator activity level of 270. product during the most recent year. Actual activity and costs for the ye Actual number of units produced Actual direct labor-hours worked Actual variable manufacturing overhead cost incurred Actual fixed manufacturing overhead cost incurred 216 351 $1,053 $2,808 Required: 1. Compute the predetermined overhead rate for the year. Break the rat 2. Prepare a standard cost card for the company's product. 3a. Compute the standard direct labor-hours allowed for the year's proc Required: 1. Compute the predetermined overhead rate for the year Break the rate down into variable 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 Reg 1 Reg 2 Reg 3 Reg 3B Reg 4 Compute the predetermined overhead rate for the year. Break the rate down into variable and fixed elements. (Round your answers to 2 decimal places.) Predetermined overhead rate Variable rate Fixed rate per DLH per DLH per DLH Reg 1 Reg 2 Reg 3A Reg 38 Reg 4 Prepare a standard cost card for the company's product. (Round your answers to 2 decinal places.) pounds at per pound per DLH DLHs at Direct materials Direct labor Variable overhead Fixed overhead Standard cost per unit $ $ $ per DLH DLHs at DLHS at 0.00 0.00 0.00 0.00 0.00 per DLH $ Complete the following Manufacturing Overhead T-account for the year. Manufacturing Overhead ReqJA Reg 4 > Reg 1 Reg 2 Reg 3A Reg 3B Reg 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 (ie, zero variance). Input all amounts as positive values.) Variable overhead rate variance Variable overhead efficiency variance Fored overhead budget variance Fored overhead volume variance prou 4 of 4 # Next > Lane Company manufactures a single product that requires a great dea standard direct labor-hours. The budgeted variable manufacturing over manufacturing overhead is $2,484,000 per year. The standard quantity of materials is 4 pounds per unit and the standard unit is 1.5 hours and the standard labor rate is $13.60 per hour. The company planned to operate at a denominator activity level of 270. product during the most recent year. Actual activity and costs for the ye Actual number of units produced Actual direct labor-hours worked Actual variable manufacturing overhead cost incurred Actual fixed manufacturing overhead cost incurred 216 351 $1,053 $2,808 Required: 1. Compute the predetermined overhead rate for the year. Break the rat 2. Prepare a standard cost card for the company's product. 3a. Compute the standard direct labor-hours allowed for the year's proc Required: 1. Compute the predetermined overhead rate for the year Break the rate down into variable 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 Reg 1 Reg 2 Reg 3 Reg 3B Reg 4 Compute the predetermined overhead rate for the year. Break the rate down into variable and fixed elements. (Round your answers to 2 decimal places.) Predetermined overhead rate Variable rate Fixed rate per DLH per DLH per DLH Reg 1 Reg 2 Reg 3A Reg 38 Reg 4 Prepare a standard cost card for the company's product. (Round your answers to 2 decinal places.) pounds at per pound per DLH DLHs at Direct materials Direct labor Variable overhead Fixed overhead Standard cost per unit $ $ $ per DLH DLHs at DLHS at 0.00 0.00 0.00 0.00 0.00 per DLH $ Complete the following Manufacturing Overhead T-account for the year. Manufacturing Overhead ReqJA Reg 4 > Reg 1 Reg 2 Reg 3A Reg 3B Reg 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 (ie, zero variance). Input all amounts as positive values.) Variable overhead rate variance Variable overhead efficiency variance Fored overhead budget variance Fored overhead volume variance prou 4 of 4 # Next >