Martin Products uses standard costing. It allocates manufacturing overhead (both variable and fixed) to products on the basis of standard direct manufacturing labor-hours (DLH) (Click the icon to view additional information.) The actual costs, compared with the annual budget and 1/12 of the annual budget, are as follows: (Click the icon to view the data.) 1. Calculate total manufacturing overhead costs alocated Begin by computing the budgeted hours per unit. Determine the formula, then compute the amount. Budgeted hours per unit Now calculate the total manufacturing overhead (MOH) costs allocated. Determine the formula, then complete the calculation Total MOH costs allocated For tems 2 through 5, complete the following tables before calculating the remaining amounts in the requirement. Complete the table for variable MOH. Actual input Actual costs Incurred budgeted rate Flexible budget Allocated overhead Variable MOH Next complete the table for fixed MOH, Fixed MOH Actual costs incurred Same budgeted lump sum regardless of output level Flexible budget Allocated overhead Now calculate the remaining listed amounts for Martin Products for May 2017. Be sure to identify each variance as favorable (F) or unfavorable (U) Martin Products uses standard costing. It allocates manufacturing overhead (both variable and fixed) to products on the basis of standard direct manufacturing labor-hours (DLH) (Click the icon to view additional information) The actual costs, compared with the annual budget and 1/12 of the annual budget, are a follows: (Click the icon to view the data) Now calculate the total manufacturing overhead (MOH) costs allocated. Determine the formula, then complete the calculation Total MOH costs allocated For bems 2 through 5, complete the following tables before calculating the remaining amounts in the requirement. Complete the table for variable MOH Actual Input Actual costs incurred budgeted rate Flexible budget Allocated overhead Variable MOH Next complete the table for fixed MOH Fixed MOH Actual costs incurred Same budgeted lump sum regardless of output level Flexible budget Allocated overhead Now calculate the remaining lated amounts for Martin Products for May 2017. Be sure to identify each variance as favorable (F) or unfavorable (U). 2. The variable manufacturing overhead spending variance is 3. The fixed manufacturing overhead spending variance is 4. The variable manufacturing overhead efficiency variance is 5. The production-volume variance is Annual Manufacturing Overhead Budget 2017 Per Per DLH Monthly Actual MOH Total Output Input MOH Budget Costs for ria Amount Unit Unit May 2017 May 2017 Variable MOH Indirect manufacturing labor $ 918,000 $ 1.50 $ 0.30 $ 76,500 $ 76,500 Supplies 612,000 1.00 0.20 51,000 120,000 Fixed MOH Supervision 520,200 0.85 0.17 43,350 41,000 Utilities 306,000 0.50 0.10 25,500 61,000 826,200 1.35 0.27 68,850 68,850. Depreciation $ 3,182,400 $ 5.20 $ 1.04 $ 265,200 $ 367,350 Total DH ula Print Done able Requirement Calculate the following amounts for Martin Products for May 2017: 1. Total manufacturing overhead costs allocated 2. Variable manufacturing overhead spending variance 3. Fixed manufacturing overhead spending variance 4. Variable manufacturing overhead efficiency variance 5. Production-volume variance Be sure to identify each variance as favorable (F) or unfavorable (U). Print Done - ng listed amounts for Martin Products for May 2017. Be sure to identify each variance as favorable (F cturing overhead spending variance is ing overhead spending variance is cturing overhead efficiency variance is me variance is More info Martin Products develops its manufacturing overhead rate from the current annual budget. The manufacturing overhead budget for 2017 is based on budgeted output of 612,000 units, requiring 3,060,000 DLH. The company is able to schedule production uniformly thorughout the year. A total of 69,000 output units requiring 321,000 DLH was produced during May 2017. Manufacturing overhead (MOH) costs incurred for May amounted to $367,350. Print Done Same budgeted - X