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Determines factory overhead rate based on practical capacity

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Reference no: EM13876599

Analysis of the Total Overhead Variance

Simpson Manufacturing has the following standard cost sheet for one of its products:

 

Direct materials

 

5 pounds at $2 per pound

Total

$ 10

Direct labor

2 hours at $25 per hour

50

Variable factory overhead

2 hours at $5 per hour

10

Fixed factory overhead

2 hours at $20 per hour

40

Cost per unit

 

$110

The company uses a standard cost system and applies factory overhead based on direct labor hours and determines the factory overhead rate based on a practical capacity of 400 units of the product.

Reference no: EM13876599

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