Requirement 1. What is the flexible budget (for the actual output) for variable overhead? For fixed overhead? For total overhead? Superb-Cut Flexible Budget for Actual Outputs $ Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead $ 190,000 595,000 785,000 Requirement 2. Determine the formula used to calculate the overhead allocated, and then calculate how much overhead would have been allocated to production. (Enter the number of hours as a decimal rounded to two decimal places, "0.XX".) Actual cases processed x Direct labour standard (hrs) x Standard total overhead rate = Overhead allocated This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers. All parts showing Similar Question Actual cases processed 190,000 $ x Direct labour standard (hrs) Actual overhead cost 805,000 X 0.25 $ X X $ Standard total overhead rate outputs 785,000 18 Requirement 3. Complete the formula to find the overhead flexible budget variance, and then use your answer from Requirement 1 to determine the amount. (Enter the result as a positive number. Label each variance as favourable (F) or unfavourable (U).) Flexible budget overhead-actual - = S $ Overhead allocated $ This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers. 855,000 Overhead flexible budget variance 20,000 U This variance tells managers that Superb-Cut actually incurred $ 20,000 more for manufacturing overhead than they would have expected for the actual volume produced during the year. Requirement 4. Determine the formula, and then use your answers from Requirements 1 and 2 to determine the production volume variance. (Enter the result as a positive number. Label each variance as favourable (F) or unfavourable (U).) Flexible budget overhead-actual outputs 785,000 $ S Standard overhead allocated to production 855,000 Actual overhead cost 805.000 $ All parts chowi This variance tells managers that $ 70,000 of the total overhead variance arose because Superb-Cut produced more cases of vegetables than originally expected. It is favourable, because Superb-Cut used its plant capacity more efficiently than originally anticipated. F Requirement 5. Complete the formula, and then calculate the total overhead variance. (Enter the result as a positive number. Label each variance as favourable (F) or unfavourable (U).) Standard overhead allocated to production 855.000 $ Production volume variance F $ = $ 70,000 Total overhead variance F 50.000 This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers. 7 Unique-Cut processes bags of frozen organic vegetables sold at specialty grocery stores. Unique-Cut allocates manufacturing overhead based on direct labour hours. Unique-Cut actually processed 155,000 cases of frozen organic vegetables during the year and incurred $765,000 of manufacturing overhead. Of this amount, $490,000 was fixed. (Click the icon to view the additional data.) Requirements Requirement 1. What is the flexible budget (for the actual output) for variable overhead? For fixed overhead? For total overhead? Unique-Cut Flexible Budget for Actual Outputs Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Enter any number in the edit fields and then click Check Answe 10 parts remaining Additional data Standard variable overhead rate Standard fixed overhead rate Standard total overhead rate Amount of cases processed Standard fixed overhead Direct labour standard for each case Print Done - $3 $18 $21 140,000 $630,000 0.25 hr X Check Answer ?