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vaieri [72.5K]
3 years ago
5

Wiki Wiki Company has determined that the variable overhead rate is $4.50 per direct labor hour in the Fabrication Department. T

he normal production capacity for the Fabrication Department is 10,000 hours for the month. Fixed costs are budgeted at $60,000 for the month.
Required:
a. Prepare a monthly factory overhead flexible budget for 9,000, 10,000, and 11,000 hours of production.
b. How much overhead would be applied to production if 9,000 hours were used in the department during the month?
Business
1 answer:
Phantasy [73]3 years ago
3 0

Answer:

a. <u>Monthly Factory Overhead Cost Budget Fabrication Department</u>

Direct Labor Hours                        9,000          10,000       11,000

Variable Factory Overhead          $40,500    $45,000    $49,500

Cost at $4.50 per hour

Fixed Factory Overhead Costs    $60,000    $60,000    $60,000

Total Factory Overheads             $100,500  $105,000  $109,500

b. Normal Production = 10,000 Units

Total Factory Overheads = $105,000

Factory Overhead Cost per unit = $105,000 / 10,000 Units

Factory Overhead Cost per unit = $10.5 per unit

Factory Overhead Cost absorbed when 9,000 hours used in the department:

= 9,000 Hours * $10.5 per Unit

= $94,500

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Answer:

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Explanation:

In this case, we will apply the formula of future value of a lump sum. The present value, interest rate and future value were provided with  the exception of number of years. Thus, the number of years becomes the subject of the formula. The future value equals present value, multiplied                     by 1 plus interest rate, raised to power number of years.                                                                                                                                                                                                        

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