Reference no: EM132983670
Questions -
Q1. The overhead recovery rate is based on direct labour cost. Profit (mark-up) will be 12% of full costs.
Annual Budget Forecast $
Direct Materials 50,000
Direct Labour 60,000
Variable Overheads 2,400
Advertising for Business 4,000
Rent of Premises 10,000
Depreciation 20,000
Administration expenses 12,000
A job order for 300 windscreens costing $5,000 in direct materials and $6,000 in direct labour has been received. How much should be charged for the job in total (to the nearest dollar)?
$17,741
$14,436
$15,840
$11,000
Q2. ABC Ltd has a standard variable overhead rate of $4 per direct labour hour. The standard quantity of direct labour per unit of production is 3 hours. The company's static budget was based on 50 000 units. Actual results for the year are as follows:
Actual units produced 45 000
Actual direct labour hours 120 000
Actual variable overhead $495 000
What was ABC Ltd's variable overhead spending variance?
$60 000 F
$15 000 U
$45 000 U
$45 000 F
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