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Compute the predetermined overhead rate for the year

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Question - Mosbach Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-hours allowed for the actual output of the period. Data concerning the most recent year are as follows:

Budgeted production (Motors)

25000

Standard machine-hours per motor

2

Budgeted machine-hours (2*25000 motors)

50000

Actual production (Motors)

20000

Standard machine-hours allowed for actual production

40000

Actual machine-hours

41500

Budgeted variable manufacturing overhead

$75,000

Budgeted fixed manufacturing overhead

$300,000

Total budgeted manufacturing overhead

$375,000

Actual variable manufacturing overhead

$72,500

Actual ?xed manufacturing overhead

$306,000

Total actual manufacturing overhead

$379,800

Required -

1. Compute the predetermined overhead rate for the year - both variable and ?xed.

2. Determine the amount of overhead that would be applied to the output of the period.

3. Calculate budget and volume variance.

Reference no: EM132944755

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