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3 years ago

If actual manufacturing overhead costs are less than the applied manufacturing overhead, then manufacturing overhead is:

Business

1 answer:

Genrish500 [490]3 years ago

8 0

Answer:

Under applied

Explanation:

Actual manufacturing overhead costs are those amounts of overhead costs that are incurred by a firm during production processes.

Applied manufacturing overhead costs are those costs that are added to jobs as they near completion. Usually, as work or job nears completion during the year, the predetermined overhead rate and actual activity level are used to apportion them.

In general, manufacturing overhead costs are those costs that are not direct labor costs or direct material costs; which is made of expenses like equipment and lightening. It could either be under or over applied. It is under applied as in the above while it is over applied when the actual manufacturing overhead costs are more than the applied manufacturing overhead costs.

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3 years ago

Read 2 more answers

1. The A to Z Packing Plant received a written citation from the Occupational Safety and Health Administration (OSHA) to have a

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3 years ago

The treasurer of Systems Company has accumulated the following budget information for the first two months of the coming year:Ma

expeople1 [14]

Answer:

March $6,000

April $134,400

Explanation:

Preparation of a monthly cash budget for March and April

SYSTEMS COMPANY CASH BUDGET FOR MARCH AND APRIL

March April

Estimated cash receipts from:

Cash sales $157,500 $182,000

($450,000*35%=$157,500)

($520,000*35%=$182,000)

Collections of accounts receivable

$285,000 $328,900

[$51,000+($450,000*65%*80%)=$285,000]

[($450,000*65%*20)+($520,000*65%*80%)=$328,900]

Total cash receipts $442,500 $510,900

($157,500+$285,000=$442,500)

($182,000+$328,900=$510,900)

Estimated cash payments for:

Manufacturing costs $174,500 $305,000

[$102,000+($290,000*1/4)=$174,500]

[($290,000*3/4)+($350,000*1/4=$305,000)]

Selling and administrative expenses $37,000 $37,500

[($41,400-$6,400)/2 + $19,500 $37,000]

[($46,400-$6,400)/2 +$19,500$37,500]

Capital additions $250,000 $0

Income taxes $0 $40,000

Total cash payments $461,500 $382,500

Cash increase (decrease) -$19,000 $128,400

($442,500-$461,500=-$19,000)

($510,900-$382,500=$128,400)

Cash balance at beginning of month $45,000 $26,000

Cash balance at end of month $26,000 $154,400

(-$19,000+$45,000=$26,000)

($128,400+$26,000=$154,400)

Minimum cash balance $20,000 $20,000

Excess (deficiency) $6,000 $134,400

($26,000-$20,000=$6,000)

($154,400-$20,000=$134,400)

Therefore The monthly cash budget for March and April will be :

March $6,000

April $134,400

7 0

3 years ago

During the first week of March the following events happened:

aksik [14]

Answer:

Yes, the offer was accepted before Barney had notice of the revocation.

Explanation:

Fred can revoke his offer at any time before acceptance (2 March), because there is no consideration to keep the offer open. However, Barney has called Fred to accept the offer, before receiving the revocation by mail which Barney has received on March 3

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3 years ago

Nexus Industries uses a standard costing system to apply manufacturing costs to its production process. In May, Nexus anticipat

Mama L [17]

Answer:

$33,700 (Favorable)

Explanation:

Note: Figures are not inputted. The missing figures have been figured out as below.

"<em>Nexus industries uses a standard costing system to apply manufacturing costs to its production process. In May nexus anticipated 2700 units with fixed manufacturing overhead costs allocated at $8.40 per direct labor hour with a standard of 2.5 direct labor hours per unit. In May, actual production was 3400 units and actual fixed manufacturing overhead cost were $23000. What was nexus fixed manufacturing overhead volume variance in May</em>?"

Solution:

Budgeted fixed overhead costs = Units * Direct labor cost * Standard Direct Labor hours per unit

= 2,700 units * $8.40 * 2.5

= 2,700 units * 21

= $56,700

Fixed manufacturing overhead volume variance = Actual fixed overhead cost - Budgeted fixed manufacturing overhead costs

When Actual fixed overhead = $23,000 , Budgeted fixed overhead costs = $56,700

Fixed manufacturing overhead volume variance = $23,000 - $56,700

= $33,700 (Favorable) .

8 0

3 years ago