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Please answer ALL parts of the question. Thank you! Blossom Company produces one product, a putter called GO-Putter. Blossom uses a standard cost system and
Please answer ALL parts of the question. Thank you!
Blossom Company produces one product, a putter called GO-Putter. Blossom uses a standard cost system and determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter is 145,000 units per year. The total budgeted overhead at normal capacity is $942,500 comprised of $290,000 of variable costs and $652,500 of fixed costs. Blossom applies overhead on the basis of direct labor hours. During the current year, Blossom produced 81,600 putters, worked 87,300 direct labor hours, and incurred variable overhead costs of $259,120 and fixed overhead costs of $311,400. Compute the predetermined variable overhead rate and the predetermined fixed overhead rate. (Round answers to 2 decimal places, e.g. 2.75.) Compute the applied overhead for Blossom for the year. Overhead Applied eTextbook and Media Compute the total overhead variance. Total Overhead Variance $ Step by Step Solution
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