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bulgar [2K]
2 years ago
6

The data below relate to the month of April for Monroe, Inc., which uses a standard cost system and a two-variance analysis of f

actory overhead:
Actual direct labor hours used

16,500

Standard direct labor hours allowed

16,250

Actual total factory overhead

$53,200

Budgeted fixed factory overhead

$12,000

Budgeted activity in hours

16,000

Total overhead application rate per standard direct labor hour

$3.25

Variable overhead application rate per standard direct labor hour

$2.50

What was Monroe's production-volume variance for April?

a.

$187.50 favorable

b.

$187.50 unfavorable

c.

$437.50 favorable

d.

$437.50 unfavorable
Business
1 answer:
Contact [7]2 years ago
7 0

Answer:

Fixed overhead absorption rate

= <u>Budgeted fixed overhead</u>

  Budgeted activity level

= $<u>12,000</u>

    16,000 hours

= $0.75 per hour

Production volume variance

= (Standard hours - Budgeted hours) x Fixed overhead rate

= (16,250 - 16,000) x $0.75

= $187.5(F)

The correct answer is A

Explanation:

First and foremost, we need to calculate fixed overhead absorption rate, which is the ratio of budgeted fixed overhead to budgeted hours. then, we will calculate the production volume variance, which is the difference between standard hours and budgeted hours multiplied by fixed overhead absorption rate.

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Harry, Hermione, and Ron formed an S corporation called Bumblebore. Harry and Hermione both contributed cash of $29,400 to get t
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Ice Cream Corporation uses the weighted-average method in its process costing system. Data concerning the first processing depar
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Ice Cream Corporation

The cost per equivalent unit for materials for the month in the first processing department is closest to:

= $14.30.

Explanation:

a) Data and Calculations:

                                                  Units       Materials        Conversion

Beginning work in process     2,400      $ 14,500           $ 6,600

Percentage of completion

Beginning work in process                        75%                   20%

Started into production          11,100

Units in production               13,500

Completed and transferred 10,000

Ending work in process         3,500         90%                  30%

Costs added during the month             $173,600       $243,600

Total costs of production

Beginning work in process          $ 14,500           $ 6,600

Costs added during the month    173,600          243,600

Total costs of production            $188,100        $250,200

Equivalent units of production:

Completed and transferred 10,000   10,000 (100%)   10,000 (100%)

Ending work in process         3,500     3,150 (90%)       1,050 (30%)

Equivalent units of production            13,150                11,050

Cost per equivalent unit:

Total costs of production            $188,100        $250,200

Equivalent units of production        13,150              11,050

Cost per equivalent unit                 $14.30            $22.64

5 0
3 years ago
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