Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Revolutions Corporation is a manufacturer of centrifuges. Fixed and variable manufacturing overheads are allocated to each centrifuge using budgeted assembly-hours. Budgeted assembly time is
The Revolutions Corporation is a manufacturer of centrifuges. Fixed and variable manufacturing overheads are allocated to each centrifuge using budgeted assembly-hours. Budgeted assembly time is 2 hours per unit. The following table shows the budgeted amounts and actual results related to overhead for June 2020. Click the icon to view the table.) Requirements Read the requirements > Requirement 1. Prepare an analysis of all variable manufacturing overhead and fixed manufacturing overhead variances Begin by calculating the following amounts for the variable overhead (OH). 1. Prepare an analysis of all variable manufacturing overhead and fixed manufacturing overhead variances 2. Prepare journal entries for Revolutions' June 2020 variable and fixed manufacturing overhead costs and variances; write off these variances to Cost of Goods Sold for the quarter ending June 30, 2020. 3. How does the planning and control of variable manufacturing overhead costs differ from the planning and control of fixed manufacturing overhead costs? Actual Input Actual Costs Flexible Allocated Overhead Incurred Budgeted Rate Budget Data table Variable OH Actual Static Results Budget 125 120 225 The Revolutions Corporation (June 2020) Number of centrifuges assembled and sold Hours of assembly time Variable manufacturing overhead cost per hour of assembly time Variable manufacturing overhead costs Fixed manufacturing overhead costs $ 32 $ 7,650 Help me solve this Etext pages Get more help $ 13,500 $ 12,500
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started