Total budgeted manufacturing overhead

Assignment Help Accounting Basics

Reference no: EM13139571

King Company estimated that it would operate its manufacturing facilities at 800,000 direct labour-hours for the year and this served as the denominator activity in the predetermined overhead rate. The total budgeted manufacturing overhead for the year was $2,000,000, of which $1,600,000 was variable and $400,000 was fixed. The standard variable overhead rate was $2 per direct labour-hour. The standard direct labour time was 3 direct labour-hours per unit. The actual results for the year are presented below:

Actual finished units 250,000

Actual direct labour-hours 764,000

Actual variable overhead $1,610,000

Actual fixed overhead $392,000

Calculate the following:

(a) The variable overhead spending variance for the year

(b) The variable overhead efficiency variance for the year

(d) The fixed overhead volume variance for the year

Reference no: EM13139571

Questions Cloud

Discuss the process of animal viral replication : Discuss the process of animal viral replication in the host cell with emphasis on the attachment, penetration, biosynthesis, assembly, and release phases of the cycle.

What is common-size statements : What is common-size statements? What is ratio analysis - why do financial managers use this? Name one ration and explain what it measures and why it is important.

Judges and old testament : Again, this is from our study group and we are trying to understand the role of Judges and how it fits in with other OT books of the Bible. We want to understand if the language, structure, and/or message found in Judges is similar to any other OT b..

Find increase occurred in mean hourly earnings : Sample mean of $14.68 per hour. Assuming the population standard deviation of σ = $145, can we conclude that an increase occurred in the mean hourly earnings since 2001? Use α = .05.

Total budgeted manufacturing overhead : The total budgeted manufacturing overhead for the year was $2,000,000, of which $1,600,000 was variable and $400,000 was fixed.

Significance of the persian and babylonian periods : Could you explain the significance of the Persian and Babylonian Periods with respect to the authorship and dissemination of the Apocryphal and Historical Books?

Explain that two polls can give widely differing results : Explain to someone who knows no statistics why the two polls can give such widely differing results and which poll is likely to more reliable.

Expensing the equipment cost : Assuming that the equipment was purchased at the beginning of 2011, by how much would Alice's treatment of the equipment increase before tax earnings as opposed to expensing the equipment cost?

Multiple intelligences tied : Write a reflective essay on how literacy is dealt with in your school of observation. How is multiple intelligenges tied in?

User Account

All Pages