Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

show work please! Chillco Corporation produces Containers of frozen food. During April, Chillco produced 775 cases of food and incurred the following actual costs. Variable

image text in transcribedimage text in transcribedshow work please!

Chillco Corporation produces Containers of frozen food. During April, Chillco produced 775 cases of food and incurred the following actual costs. Variable overhead 6,700 Fixed overhead. 10,300 Actual labor cost (3,000 direct labor hours) 46,200 Actual material cost (16,500 pounds purchased and used) 31, 350 Overhead is budgeted and applied using direct-labor hours in a standard costing system. Standard cost and annual budget information are as follows: Standard costs per Case Direct labor 3 hours at $15 per hour) 45.00 pound) material 20 pounds at $1.60 per Direct 32.00 Variable overhead (3 direct-labor hours at 7.20 $2.40 per hour) Fixed overhead (3 direct-labor hours at $4 12.00 per hour) 96.20 Total Annual Budget Information variable overhead 72,000 $120,000 Fixed overhead Planned activity for year 30,000 direct-labor hours

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

High Performance Cloud Auditing And Applications

Authors: Keesook J. Han, Baek-Young Choi, Sejun Song

1st Edition

1493944355, 978-1493944354

More Books

Students also viewed these Accounting questions

Question

Practice business etiquette in the workplace.

Answered: 1 week ago