Weller companys variable manufacturing overhead should be

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Reference no: EM13607012

Weller Company's variable manufacturing overhead should be $1.15 per standard machine-hour and its fixed manufacturing overhead should be $33,000 per month. The following information is available for a recent month:
a.The denominator activity of 12,000 machine-hours was chosen to compute the predetermined overhead rate.
b.At the 12,000 standard machine-hours level of activity, the company should produce 6,000 units of product.
c. The company's actual operating results were as follows:

Number of units produced 6,440
Actual machine-hours 12,860
Actual variable manufacturing overhead cost $ 13,503
Actual fixed manufacturing overhead cost $ 30,800

Required:
1.Compute the predetermined overhead rate and break it down into variable and fixed cost elements. (Round your answers to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)

Predetermined overhead rate $ ? per MH
Variable element $ ? per MH
Fixed element $ ? per MH

2.What were the standard hours allowed for the year's actual output? (Round your intermediate calculations to 2 decimal places.)

Standard hours MHs ?

3.Compute the variable overhead rate and efficiency variances and the fixed overhead budget and volume variances. (Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your intermediate calculations and final answers to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)

Variable overhead rate variance $ ?
Variable overhead efficiency variance $ ?
Fixed overhead budget variance $ ?
Volume variance $ ?

Reference no: EM13607012

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