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Submit Test uestion: 31 pts 1 of 1 This Test: 31 pts possible i Data Table X 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] 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 (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: (Click the icon to view the data.) Annual Manufacturing Overhead Budget 2014 Read the requirement. Per Per DLH Monthly Actual MOH Total Output Input MOH Budget Costs for For items 2 through 5, complete the following tables before calculating the remaining amounts in the requirement. Complete the table for variable MOH. Amount Unit Unit May 2014 May 2014 Variable MOH Actual input Indirect manufacturing labor $ 1,062,000 $ 1.50 $ 0.30 $ 88.500 $ 28,500 Actual costs Flexible Allocated Supplies 708,000 1.00 0.20 59,000 121,000 incurred budgeted rate budget overhead Fixed MOH Variable MOH Supervision 495,600 0.70 0.14 41.300 41,000 Next complete the table for fixed MOH. Utilities 480,200 0.65 ).13 38,350 84.000 Same budgeted 814.200 .15 0.23 87,850 37.850 Depreciation lump sum $ 3,540,000 $ 5.00 S 1.00 5 295,000 $ 382.350 Total Actual costs regardless of Flexible Allocated incurred output level budget overhead Fixed MOH Requirement - X Now calculate the remaining listed amounts for Martin Products for May 2014. Be sure to identify each variance as favorable (F) or unfavorable (U) 2. The variable manufacturing overhead spending variance is Calculate the following amounts for Martin Products for May 2014: 1. Total manufacturing overhead costs allocated 3. The fixed manufacturing overhead spending variance is 2. Variable manufacturing overhead spending variance 4. The variable manufacturing overhead efficiency variance is 3. Fixed manufacturing overhead spending variance 4. Variable manufacturing overhead efficiency variance 5. The production-volume variance is 5. Production-volume variance Be sure to identify each variance as favorable (F) or unfavorable (U) Choose from any list or enter any number in the input fields and then continue to the next question Print Done Save for Later Type here to search