Variable predetermined manufacturing overhead rates

Assignment Help Accounting Basics
Reference no: EM13154389

The following information was taken from the annual manufacturing overhead cost budget of SooTech Company.

Variable manufacturing overhead costs $33,000

Fixed manufacturing overhead costs $19,800

Normal production level in hours 16,500

Normal production level in units 4,125

During the year, 4,000 units were produced, 16,100 hours were worked, and the actual manufacturing overhead was $54,000. Actual fixed manufacturing overhead costs equaled budgeted fixed manufacturing overhead costs. Overhead is applied on the basis of direct labor hours.

Instructions

a. Compute the total, fixed, and variable predetermined manufacturing overhead rates.

b. Compute the total, controllable, and volume overhead variances.

Reference no: EM13154389

Questions Cloud

Problem on interest payable annually : Novastar Corporation issued 2,000 of its 1,000, 10% ten-year bonds dated July 1, Year 1, at a time when the market paid 9% for bonds of similar risk. Interest is payable annually.
Find the nominal interest rate for a debt security : find the nominal interest rate for a debt security given the following information: real rate = 2%, liquidity premiun = 2%, defalult risk premium = 4%, maturity risk premium = 3%, and the inflation premium = 3%
What is the specific heat for the metal : It takes 49.0 J to raise the temperature of a 9.60 g piece of unknown metal from 13.0 degrees celsius to 24.5 degrees celsius. what is the specific heat for the metal?
Individual federal income tax return : Brown earned net operating income of $80,000 and had a long-term capital loss of $3,000. Also, Jay withdrew $40,000 from the corporation. Jay must report $80,000 of Brown Corporation income and may deduct the $3,000 loss on his individual Federal ..
Variable predetermined manufacturing overhead rates : Compute the total, fixed, and variable predetermined manufacturing overhead rates. Compute the total, controllable, and volume overhead variances.
Find margin of error in the poll using percentage points : In a poll of 553 voters in a certain city, 64% said the back a bill which would limit growth and development in their city. The margin of error in the poll was reported as 4 percentage points.
Total proceeds of the bond issue at the time of sale : The bonds were quoted at 94 and pay interest quarterly on September 30th and December 31st. What were the total proceeds of the bond issue at the time of sale?
Explain the reservoir of the hickman head : when perfoming a distillation some of the material will vaporize but will not collect in the reservoir of the Hickman head
Calculate the initial ph and the final ph : For 550.0 mL of pure water, calculate the initial pH and the final pH after adding 0.010 mol of pH

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compensate for a weakness in internal control

An auditor may compensate for a weakness in internal control by increasing the:

  Type of deferred income tax

A company uses the equity method to account for an investment. This would result in what type of difference and in what type of deferred income tax?

  Amount of sales to receive bonus

The president of Jackson Corporation will not receive a bonus next year unless the company's profits are at least $435,000. Jackson sells a single product at a price of $27 per unit. If variable costs are $12 per unit and fixed costs total $150,00..

  Security brokers in the design and distribution

The out-of-pocket expenses incurred by Security Brokers in the design and distribution of the issue were $300,000. What profit or loss would Security Brokers incur if the issue were sold to the public at an average price of:

  Calculate the operating income for july

Preppy Co. makes and sells a single product. The current selling price is $30 per unit. Variable costs are $21 per unit, and fixed expenses total $90,000 per month. Sales volume for July totaled 12,000 units.

  Walmart and kamart balance sheets

What are the differences and similarities between walmart and kamart balance sheets? What classifications are presented?

  Explain why overhead cost related to website optimization

Explain why the overhead cost related to website optimization was first divided into two categories (unframed prints and framed prints) and then allocated based on number of prints

  Effects of stock dividend and stock split

Prepare a tabular summary of the effects of the alternative actions on the components of stockholders' equity, outstanding shares, and book value per share. Use the following column headings: Before Action, After Stock Dividend, and After Stock Sp..

  Cost of the finished goods on hand

The following information is available for completed Job No. 402: Direct materials, $25,000 direct labor, $35,000 manufacturing overhead applied, $20,000 units produced, 8,000 units units sold, 6,000 units. The cost of the finished goods on hand f..

  Financial ratios analyzing profitability and liquidity

Would you invest in this company? Explain why or why not. Justify your reasoning, by presenting at least three key financial ratios that analyze the profitability, the liquidity, or the solvency of the company.

  Amount of unamortized bond discount

What should be the amount of the unamortized bond discount on April 1, 2011 relating to the bonds converted?

  Phillips company investment account

Phillips Company bought 40 percent ownership in Jones Bag Company on January 1, 20X1, at underlying book value. In 20X1, 20X2, and 20X3, Jones Bag reported net income of $8,000, $12,000, and $20,000

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd