Determine the following a fixed overhead spending and

Reference no: EM13585309

Shumaker Company manufactures a line of high-top basketball shoes. At the beginning of the year, the following plans for production and costs were revealed:
Pairs of shoes to be produced and sold   55,000
Standard cost per unit:
Direct materials   $15
Direct labor   12
VOH   6
FOH   3
Total unit cost   $36

During the year, a total of 50,000 units were produced and sold. The following actual costs were incurred:
Direct materials $775,000 VOH $310,000
Direct labor 590,000 FOH 180,000

There were no beginning or ending inventories of raw materials. In producing the 50,000 units, 63,000 hours were worked, 5 percent more hours than the standard allowed for the actual output. Overhead costs are applied to production using direct labor hours.

Required:
1. Using a ?exible budget, prepare a performance report comparing expected costs for the actual production with actual costs.
2. Determine the following: (a) Fixed overhead spending and volume variances and (b) Variable overhead spending and effciency variances.

Reference no: EM13585309

Questions Cloud

Machinery is purchased on may 15 2009 for 50000 with a 5000 : machinery is purchased on may 15 2009 for 50000 with a 5000 salvage value and a five year life. the half year

Following activity 2-1 a 488 nf capacitor c is connected in : following activity 2-1 a 488 nf capacitor c is connected in series with a 543 ? reference resistor r0. see figure 8.4

Identify the type of fraud scheme described describe five : a teller at a savings and loan drive-through accepted a cash payment from customer 1 for an auto loan. the teller

Describe how that crime is measured who typically commits : types of crime access the most recent version of the ucr at httpwww.fbi.govucrucr.htmwrite a 1-2 page paper addressing

Determine the following a fixed overhead spending and : shumaker company manufactures a line of high-top basketball shoes. at the beginning of the year the following plans for

Suppose that in 2013 global launches an aggressive : suppose that in 2013 global launches an aggressive marketing campaign that boosts sales by 15. however their operating

You are a management analyst for xyz aircraft manufacturing : you are a management analyst for xyz aircraft manufacturing company. your company currently manufactures and sells four

A random sample of 100 credit sales in a department store : a random sample of 100 credit sales in a department store showed an average sale of 120.00. from past data it is known

The differences between single or multistep income : the differences between single or multistep income statements. what are the advantages and disadvantages of both the

User Account

All Pages