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lions [1.4K]
3 years ago
14

Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information f

rom LLL’s standard cost card follows:
Standard Quantity Standard Rate Standard Unit Cost
Variable manufacturing overhead 0.6 $0.80 $0.48

During August, LLL had the following actual results:

Units produced and sold 22,100
Actual variable overhead $ 9,490
Actual direct labor hours 16,000

Lamp Light Limited (LLL) calculates a fixed overhead rate based on budgeted fixed overhead of $60,300 and budgeted production of 20,100 units. Actual results were as follows:

Number of units produced and sold 22,100
Actual fixed overhead $ 58,300


a. Calculate the fixed overhead rate based on budgeted production for LLL.

b.Calculate the fixed overhead spending variance for LLL.

c.Calculate the fixed overhead volume variance for LLL.

d. Calculate the over- or underapplied fixed overhead for LLL.
Business
1 answer:
dmitriy555 [2]3 years ago
7 0
The answer is a , make sure you pick that oneb
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Margarita [4]

Answer:

"Decrease by 250" is the appropriate response.

Explanation:

The given values are:

Revised fixed cost,

= $150,000

Current selling price,

= $100

Current variable cost,

= $60

Current contribution will be:

=  Current \ selling \ price-Current \ variable \ cost

=  100-60

=  40

Now,

The revised BEP will be:

=  \frac{Revised \ fixed \ cost}{Revised \ contribution}

On substituting the values, we get

=  \frac{150,000}{40}

=  3750 \ units

hence,

=  4000-3750

=  250

Thus the above is the correct answer.

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3 years ago
Gertie sees an ad for Ultra Tide and thinks, "Ultra Tide looks like a really good product—I think I’ll try it." This is an examp
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Answer:

Support Argument.

Explanation:

Support argument is a process in which a person backs up his research or findings to prove it correct. The purpose of support argument is to sustain a product by an argument or a statement . Gertie has made a statement that she will try Ultra Tide. She has made this statement to support the ad of Ultra Tide. This is an example of support argument.

4 0
3 years ago
Read 2 more answers
Doyle Company issued $360,000 of 10-year, 8 percent bonds on January 1, Year 2. The bonds were issued at face value. Interest is
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Answer:

The balance of the equation at end of year 2 is$388,800

The balance of the equation at end of year 3 is   $417,600

Explanation:

                           Assets                        =Liabilities          +shareholders' equity

                    Land +cash                           Bonds payable     retained earnings

1/1/year 2                   $360,000                  =$360,000

1/1/year 2 $360,000 ($360,000)                

31/12/year2                $53,500                         =                                     $53,500

31/12/year2              ($28,800)                      =                                      ($28,800)                          

Balance                              $388,800          =                                       $388,800

Opening balance                $388,800=                                              $388,800

31/12/year3                            $53,500=                                               $53,500

31/12/year3                           ($28,800)=                                              ($28,800)                                

Balance                               $ 417,600                                                $417,600

                                             

The interest on bond=$360,000*8%=$28,800

3 0
3 years ago
Which political system favors an economic structure in which the means of production are owned and monitored by the government?
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PGP Co. expects to issue a $1,000 face-value bond that matures in 8 years. The annual coupon rate is 9% and interest payments ar
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Answer:

Required return is 8.75%

Explanation:

Given,

FV (Face Value) is $1,000

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r (Required return) is computed by using the excel formula:

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= Rate (8,90,-1014,1000,0)

= 8.75%

4 0
2 years ago
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