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1 of 1 This Test: 31 pts possible 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). Martin Products develops its manufacturing overhead rate from the current annual budget. The manufacturing overhead budget for 2014 is based on budgeted output of 708,000 units, requiring 3,540,000 DLH. The company is able to schedule production uniformly thorughout the year. A total of 75.000 output units requiring 321.000 DLH was produced during May 2014. Manufacturing overhead (MOH) costs incurred for May amounted to $382.350. The actual costs. compared with the annual budget and 1/12 of the annual budget, are as follows: ECE (Click the icon to view the data.) Data Table - X Read the requirement 1. Calculate total manufacturing overhead costs allocated. Annual Manufacturing Overhead Budget 2014 Begin by computing the budgeted hours per unit. Determine the formula, then compute the amount. Per Per DLH Monthly Actual MOH = Budgeted hours per unit Total Output Input MOH Budget Costs for Amount Unit Unit May 2014 May 2014 Now calculate the total manufacturing overhead (MOH) costs allocated. Determine the formula, then complete the calculation. Variable MOH Total MOH costs allocated Indirect manufacturing labor $ 1.062,000 $ 1.50 $ 0.30 $ 88.500 $ 88.500 Supplies 708,000 1.00 D.20 59.000 121,000 For items 2 through 5, complete the following tables before calculating the remaining amounts in the requirement. Complete the table for variable MOH Fixed MOH Supervision 495,600 0.70 0.14 41.300 41.000 Actual input Utilities 460.200 0.6 0.13 38,350 64,000 Actual costs Flexible Allocated 814.200 1.15 0.23 87.850 67.850 Depreciation incurred budgeted rate budget overhead $ 3,540,000 $ 5.00 $ 1.00 S 295,000 $ 382 350 Total Variable MOH Next complete the table for fixed MOH. Requirement - X Print Done Same budgeted lump sum Calculate the following amounts for Martin Products for May 2014: Actual costs regardless of Flexible Allocated 1. Total manufacturing overhead costs allocated 2. Variable manufacturing overhead spending variance 3. Fixed manufacturing overhead spending variance Choose from any list or enter any number in the input fields and then continue to the next question. 4. Variable manufacturing overhead efficiency variance 5. Production-volume variance Save for Later Be sure to identify each variance as favorable (F) or unfavorable (U)