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need help figuring out fixed overhead cost applied Problem 21-4A Computation of materials, labor, and overhead variances L O P2, P3 The following information apples
need help figuring out fixed overhead cost applied
Problem 21-4A Computation of materials, labor, and overhead variances L O P2, P3 The following information apples to the questions displayed belom/ rico Company set the following standard unilt costs for its single product. Direa materlals 30 Ilbs. $4 per lb.) Direct labor 5 hrs$14 per hr.) Fectory overheed-varleble 5 hrs. $B per hr) Factory averheed-fiked (5 hrs. o$t0 per ht) S 12000 70.00 40.00 5000 Total standard cost $ 28000 the red termined ovrhead rateis based an a planned operating voi mec 60,000 units per quarter. The following fliexible budget information Is available 0% of the pro aveapadt of Operating Levels 70% 42,000 90% 48,00054,00 mill(80% Productlon In unlts Standard dred labor hours Budgeted overhead 210,000240,000270,000 Fixedfadtory overhead Varlable factory overhead 2.400.000 $ 2,400,000 $2,400,000 s 1680,000 $1920,000 $ 2160,000 During the current quarter, the company operated ot 90% of Copacity and produced 54000 urns actuel direat labor totaled 265,000 hours. Units produced were assignedthe following st produc Direc materials (1,620,000 lbs $4 per lb) Direct lebor 1270,000 hrs$14 per hr) Factory overmead (270,000 hrs, $18 per hr) $6,480.000 3,780.000 4.860,000 Total standard cOS s 15120.000 Actual costs incutred curing the current quarter follow Direct materials 1.615 000 lbs.$410 per b) Direct labor 1265.000 hrs @ $13.75 per hr) Fixed foctory overhead costs Variablefadtory overheed costs 6.621.500 3.643,750 2.350000 2,200,000 Total actual costs s 14 315.250Step by Step Solution
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