{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-29T05:03:33-04:00", "answer_date": "2024-05-29 05:03:33", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1876523", "url": "\/study-help\/questions\/required-information-use-the-following-information-for-the-problems-1876523", "question_creation_date_js": "2024-05-29T05:03:33-04:00", "question_creation_date": "May 29, 2024 05:03 AM", "meta_title": "[Solved] ! Required information Use the following | SolutionInn", "meta_description": "Answer of - ! Required information Use the following information for the Problems below. (Static) [The following information appli | SolutionInn", "meta_keywords": "required,information,problems,below,static,applies,questions,displayed,trini,company,set,standard", "question_title_h1": " ! Required information Use the following information for the Problems below. (Static) [The following information applies to the questions displayed below.] Trini Company set", "question_title": " ! Required information Use the following information for the Problems below.", "question_title_for_js_snippet": " Required information Use the following information for the Problems below (Static) The following information applies to the questions displayed below Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds $4 per pound) Direct labor (5 hours $14 per hour) Variable overhead (5 hours $8 per hour) Fixed overhead (5 hours $10 per hour) $ 120 00 70 00 40 00 50 00 $ 280 00 Standard cost per unit Overhead is applied using direct labor hours The standard overhead rate is based on a predicted activity level of 80 of the company's capacity of 60,000 units per quarter The following additional information is available Production (in units) Standard direct labor hours (5 DLH unit) Budgeted overhead (flexible budget) Fixed overhead Variable overhead 70 42,000 units 210,000 hours $ 2,400,000 $ 1,680,000 Operating Levels 80 48,000 units 240,000 hours $ 2,400,000 $ 1,920,000 90 54,000 units 270,000 hours $ 2,400,000 $ 2,160,000 During the current quarter, the company operated at 90 of capacity and produced 54,000 units actual direct labor totaled 265,000 hours Units produced were assigned the following standard costs Direct materials (1,620,000 pounds $4 per pound) Direct labor (270,000 hours $14 per hour) Overhead (270,000 hours $18 per hour) Standard (budgeted) cost Actual costs incurred during the current quarter follow Direct materials (1,615,000 pounds $4 10 per pound) Direct labor (265,000 hours $13 75 per hour) Fixed overhead Variable overhead Actual cost $ 6,480,000 3,780,000 4,860,000 $ 15,120,000 $ 6,621,500 3,643,750 2,350,000 2,200,000 $ 14,815,250", "question_description": "\"image\"image", "transcribed_text": "! Required information Use the following information for the Problems below. (Static) [The following information applies to the questions displayed below.] Trini Company set the following standard costs per unit for its single product. Direct materials (30 pounds @ $4 per pound) Direct labor (5 hours @ $14 per hour) Variable overhead (5 hours @ $8 per hour) Fixed overhead (5 hours @ $10 per hour) $ 120.00 70.00 40.00 50.00 $ 280.00 Standard cost per unit Overhead is applied using direct labor hours. The standard overhead rate is based on a predicted activity level of 80% of the company's capacity of 60,000 units per quarter. The following additional information is available. Production (in units) Standard direct labor hours (5 DLH\/unit) Budgeted overhead (flexible budget) Fixed overhead Variable overhead 70% 42,000 units 210,000 hours. $ 2,400,000 $ 1,680,000 Operating Levels 80% 48,000 units 240,000 hours. $ 2,400,000 $ 1,920,000 90% 54,000 units 270,000 hours. $ 2,400,000 $ 2,160,000 During the current quarter, the company operated at 90% of capacity and produced 54,000 units; actual direct labor totaled 265,000 hours. Units produced were assigned the following standard costs. Direct materials (1,620,000 pounds @ $4 per pound) Direct labor (270,000 hours @ $14 per hour) Overhead (270,000 hours @ $18 per hour) Standard (budgeted) cost Actual costs incurred during the current quarter follow. Direct materials (1,615,000 pounds @ $4.10 per pound) Direct labor (265,000 hours @ $13.75 per hour) Fixed overhead Variable overhead Actual cost $ 6,480,000 3,780,000 4,860,000 $ 15,120,000 $ 6,621,500 3,643,750 2,350,000 2,200,000 $ 14,815,250", "related_book": { "title": "Fundamental financial accounting concepts", "isbn": "978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365", "edition": "8th edition", "authors": "Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/264.jpg", "uri": "\/textbooks\/fundamental-financial-accounting-concepts-8th-edition-264", "see_more_uri": "" }, "free_related_book": { "isbn": "1953244009", "uri": "\/textbooks\/ranger-protection-978-1953244000-248685", "name": "Ranger Protection", "edition": "" }, "question_posted": "2024-05-29 05:03:33", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/for-32-hours-of-work-you-are-paid-24160-how", "description": "For 32 hours of work, you are paid $241.60. How much would you receive for 37 hours?", "stars": 3.5 }, { "url": "\/two-sources-of-light-of-wavelength-700-nm-are-10", "description": "Two sources of light of wavelength 700 nm are 10 m away from the pinhole of Problem 48. 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