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What are the actual and applied overhead amounts

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Reference no: EM13339337

Assume that Timekiller, Inc., manufactures a new electronic game console. The current standard costs sheet for a game console follows:

Direct materials, ? kilograms at $4 per kilogram . . . . $ ? per game
Direct labor, 0.75 hours at ? per hour . . . . . . . . . . . . . . ? per game
Overhead, 0.75 hours at ? per hour. . . . . . . . . . . . . . . . ? per game
Total costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $39 per game
Assume that the following data appeared in Timekiller's records at the end of the past month:
Actual production . . . . . . . . . . . . . . . . . . . . . . . . . 24,000 units
Actual sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,000 units
Materials (112,500 kilograms). . . . . . . . . . . . . $472,500
Materials price variance . . . . . . . . . . . . . . . . . . . . 22,500 U
Materials efficiency variance. . . . . . . . . . . . . . . . .18,000 U
Direct labor price variance . . . . . . . . . . . . . . . . . . 13,680 U
Direct labor (17,100 hours) . . . . . . . . . . . . . . . . .287,280
Underapplied overhead (total) . . . . . . . . . . . . . . . . 9,000 U
There are no materials inventories.

Required

a. Prepare a variance analysis for direct materials and direct labor and complete the standard cost sheet.

b. Assume that all production overhead is fixed and that the $9,000 underapplied is the only overhead variance that can be computed. What are the actual and applied overhead amounts?

Reference no: EM13339337

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