Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Turkey Corp establied the following monthly standards per unit of its 10,000 unit budgeted production. (please answer everything in yellow) Input Price Per Unit Cost

image text in transcribed
Turkey Corp establied the following monthly standards per unit of its 10,000 unit budgeted production. (please answer everything in yellow)image text in transcribed
Input Price Per Unit Cost at 10,000u Direct Material Direct Labor Fixed Overhead $4.40 $31.00 $210,000 per lb per hour Input Qty per Unit of Output 11 0.6 n/a $48.40 $18.60 $21.00 Total Budget Cost at 10,000u $484,000.00 $186,000.00 $210,000.00 total This month Turkey Corp had the following results. Activity 105,000 lbs 4,900 hrs Direct Material Direct Labor Fixed Overhead Output $ $ $ $ Actual Cost 465,000 154,350 195,000 814,350 9,850 units 1 Given the actual level of output for the month, how much fixed overhead should the company have incurred? (i.e. What is the flexible budget level of fixed overhead?). Fixed Overhead in Flex Budget 2 Complete the following table for Direct Material (use formulas or keep at least 3 demical points). Direct Material Actual* Input Flex Budget Output Flex Budget (Standard) Master (Static) Budget* Output Quantity (units) x Input Rate (lbs/unit) x Input Price ($/1b) = Total Cost ($)

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

Cornerstones Of Managerial Accounting

Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

4th Edition

978-0538473460, 0538473460

More Books

Students also viewed these Accounting questions

Question

Find the derivatives of the function. 9 cot sin t t

Answered: 1 week ago

Question

Describe BUSINESS MANAGEMENT

Answered: 1 week ago

Question

What is a cost pool? Why are multiple cost pools required? (LO 3)

Answered: 1 week ago