Answered step by step
Verified Expert Solution
Question
1 Approved Answer
you dont need the graph i already answered that part Clean-It-Up, Inc., is a manufacturer of vacuums and uses standard costing. Manufacturing overhead (both variable
you dont need the graph i already answered that part
Clean-It-Up, Inc., is a manufacturer of vacuums and uses standard costing. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of budgeted machine-hours. In 2017, budgeted fixed manufacturing overhead cost was $19,000,000. Budgeted variable manufacturing overhead was $8 per machine-hour. The denominator level was 1,000,000 machine hours, Read the requirements. Requirement 1. Prepare a graph for fixed manufacturing overhead. The graph should display how Clean -It-Up, Inc.'s fixed manufacturing overhead costs will be depicted for the purposes of (a) planning and control and (b) inventory posting. (Enlarge the graph and use the tool line button displayed to draw the graph.) Fixed Manufacturing Overhead Cosis 8 $24.000.000 i Requirements S21 $19.500.000 $18.000.000 SHERIE $13.500.000 Tota Fund Manufacturing Overhead Coats $12.000.00 $9 (DO DI $7.500.000 $6.000.000 5 $1.500.000 400.000 800.000 200.000 Madiun 1. Prepare a graph for fixed manufacturing overhead. The graph should display how Clean -It-Up, Inc.'s fixed manufacturing overhead costs will be depicted for the purposes of (a) planning and control and (b) inventory costing. 2. Suppose that 1,175,000 machine hours were allowed for actual output produced in 2017, but 1,150,000 actual machine-hours were used. Actual manufacturing overhead was $9,775.000, variable, and $19,075,000, fixed Compute (a) the variable manufacturing overhead spending and efficiency variances and (b) the fixed manufacturing overhead spending and production-volume variances. 3. What is the amount of the under or overallocated variable manufacturing overhead and the under-or overallocated fixed manufacturing overhead? Why are the flexible-budget variance and the under-or overallocated overhead amount always the same for variable manufacturing overhead but rarely the same for fixed manufacturing overhead? 4. Suppose the denominator level was 760,000 rather than 1,000,000 machine-hours. What variances in requirement 2 would be affected? Recompute them. Requirement 2. Suppose that 1,175,000 machine-hours were allowed for actual output produced in 2017, but 1,150 Compute (a) the variable manufacturing overhead spending and efficiency variances and (b) the fixed manufacturing (a) Begin by calculating the following amounts for the variable manufacturing overhead. Actual Input * Budgeted Rate Actual Costs Incurred 9775000| Flexible Budget Allocated Overhead Print Done Variable MOH Clean-It-Up, Inc., is a manufacturer of vacuums and uses standard costing. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of budgeted machine-hours. In 2017, budgeted fixed manufacturing overhead cost was $19,000,000. Budgeted variable manufacturing overhead was $8 per machine-hour. The denominator level was 1,000,000 machine hours, Read the requirements. Requirement 1. Prepare a graph for fixed manufacturing overhead. The graph should display how Clean -It-Up, Inc.'s fixed manufacturing overhead costs will be depicted for the purposes of (a) planning and control and (b) inventory posting. (Enlarge the graph and use the tool line button displayed to draw the graph.) Fixed Manufacturing Overhead Cosis 8 $24.000.000 i Requirements S21 $19.500.000 $18.000.000 SHERIE $13.500.000 Tota Fund Manufacturing Overhead Coats $12.000.00 $9 (DO DI $7.500.000 $6.000.000 5 $1.500.000 400.000 800.000 200.000 Madiun 1. Prepare a graph for fixed manufacturing overhead. The graph should display how Clean -It-Up, Inc.'s fixed manufacturing overhead costs will be depicted for the purposes of (a) planning and control and (b) inventory costing. 2. Suppose that 1,175,000 machine hours were allowed for actual output produced in 2017, but 1,150,000 actual machine-hours were used. Actual manufacturing overhead was $9,775.000, variable, and $19,075,000, fixed Compute (a) the variable manufacturing overhead spending and efficiency variances and (b) the fixed manufacturing overhead spending and production-volume variances. 3. What is the amount of the under or overallocated variable manufacturing overhead and the under-or overallocated fixed manufacturing overhead? Why are the flexible-budget variance and the under-or overallocated overhead amount always the same for variable manufacturing overhead but rarely the same for fixed manufacturing overhead? 4. Suppose the denominator level was 760,000 rather than 1,000,000 machine-hours. What variances in requirement 2 would be affected? Recompute them. Requirement 2. Suppose that 1,175,000 machine-hours were allowed for actual output produced in 2017, but 1,150 Compute (a) the variable manufacturing overhead spending and efficiency variances and (b) the fixed manufacturing (a) Begin by calculating the following amounts for the variable manufacturing overhead. Actual Input * Budgeted Rate Actual Costs Incurred 9775000| Flexible Budget Allocated Overhead Print Done Variable MOHStep 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