Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Urgent pleas The following budget data pertain to the Machining Department of Grind Company: Maximum capacity 61,000 units Machine hours per unit 2.50 Variable factory

Urgent pleas

The following budget data pertain to the Machining Department of Grind Company:

Maximum capacity 61,000 units
Machine hours per unit 2.50
Variable factory overhead $ 2.80 per machine hour
Fixed factory overhead $ 435,000

The company prepared the budget at 75% of the maximum capacity level. The department uses machine hours as the basis for applying standard factory overhead costs to production. The budgeted total factory overhead for the Machining Department is:

Multiple Choice

$912,750.

$737,750.

$746,250.

$755,250.

$479,850

Information concerning Johnston Company's direct materials costs is as follows:

Standard price per pound $ 7.85
Actual quantity purchased 3,400 pounds
Actual quantity used in production 3,300 pounds
Units of product manufactured 840
Materials purchase-price variancefavorable $ 995
Budget data for the period:
Units to manufacture 1,140
Units of direct materials 4,560 pounds

The direct materials usage variance for the period is:

Multiple Choice

$416.00 favorable.

$471.00 favorable.

$416.00 unfavorable.

$471.00 unfavorable.

$681.00 favorable.

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

More Books

Students also viewed these Accounting questions

Question

How could the A and B chains of insulin be separated chemically?

Answered: 1 week ago

Question

6. How do histories influence the process of identity formation?

Answered: 1 week ago