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please help with question h) You have been given the following information about the production of Novak Co., and are asked to provide the factory
please help with question h)
You have been given the following information about the production of Novak Co., and are asked to provide the factory manager with information for a meeting with the vice-president of operations: Standard Cost Card Direct materials (5.80 kg at $3.20 per kilogram) $18.56 Direct labour (0.50 hours at $4.00) 2.00 Variable overhead (0.50 hours at $3.20 per hour) 1.60 Fixed overhead (0.50 hours at $7.00 per hour) 3.50 $25.66 The following is a production report for the most recent period of operations: Variances Total Standard Cost Spending/ Budget Quantity/ Efficiency Costs Price/ Rate Volume Direct materials $369,344 $5,913 F $9,088 U Direct labour 39,800 2.835 U 5,560 U Variable overhead 31,840 $1,170 F ? Fixed overhead 69,650 410 F $13,650 U (a) Your answer is correct. How many units were produced during the period? Number of units produced 19900 e Textbook and Media Attempts: 1 of 3 used Using multiple attempts will impact your score 10% score reduction after attempt 2 (b) b Your answer is correct. How many kilograms of raw material were purchased and used during the period? Raw materials purchased 118260 kilograms e Textbook and Media Attempts: 2 of 3 used 2 Using multiple attempts will impact your score 10% score reduction after attempt 2 (c) c Your answer is correct. What was the actual cost per kilogram of raw materials? (Round answer to 2 decimal places, eg. 15.25.) Actual cost per kilogram $ 3.15 /kg eTextbook and Media Attempts: 1 of 3 used 1 Using multiple attempts will impact your score 10% score reduction after attempt 2 (d) Your answer is correct. How many actual direct labour hours were worked during the period? Actual direct labour hours 12340 hours e Textbook and Media Attempts: 1 of 3 used Using multiple attempts will impact your score 10% score reduction after attempt 2 2 (e) Your answer is correct. What was the actual rate paid per direct labour hour? (Round answer to 2 decimal places, eg. 15.25.) ( Actual rate $ 4.25 /hr (f) Your Answer Correct Answer (Used) What was the actual variable overhead cost incurred during the period? Actual variable overhead $ LA 35,118 (g) Your Answer Correct Answer (Used) What is the total fixed overhead cost in the company's master budget? Budgeted fixed cost $ 83,300 (h) What were the master budget hours for fixed overhead? Master budget hours hoursStep by Step Solution
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