Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Predetermined OH Lansing Mfg. prepared the following annual abbreviated flexible budget for different levels of machine hours: 32.000 35,200 38,400 41,600 Vanable manufacturing overhead

image text in transcribed

Predetermined OH Lansing Mfg. prepared the following annual abbreviated flexible budget for different levels of machine hours: 32.000 35,200 38,400 41,600 Vanable manufacturing overhead $64000 $70,400 $76.800 $200 Fad manufacturing overhead 260.000 260,000 260,000 260,000 Each product requires four hours of machine time, and the company expects to produce 8,000units for the year. Production is expected to be evenly distributed throughout the year. a. Calculate separate predetermined variable and fixed OH rates using as the basis of application (1) units of production and (2) machine hours Note: Do not round your answers. (1) Units of production L Machine hours Variable OH Rate Fixed Of Rate b. Calculate the combined predetermined OH rate using (1) units of product and machine hours Note: Do not round your answers Units of production Machine hours Combined Rate Assume that all actual overhead costs are equal to expected overhead costs for the year, but that Lanung Mg produced 8,800 units of product, if the separate rates based on units of product calculated in (a) were used to apply overhead whal amounts of underapplied or aver applied variable and fixed overhead exist at year-end Note: Do not use a negative sign with your answer. Vanala OH Fed OH Check

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: kieso, weygandt and warfield.

14th Edition

9780470587232, 470587288, 470587237, 978-0470587287

More Books

Students also viewed these Accounting questions

Question

Absence of disparate impact

Answered: 1 week ago

Question

Performance appraisal criteria based on job analysis

Answered: 1 week ago

Question

Focus on clients needs (efforts to fulfi ll clients requirements)

Answered: 1 week ago