Manufacturing overhead data for the production of product H by shakira company are as follows.
Byrd Company produces one product, a putter called GO-putter. Byrd use a standard cost system and determines that it should take one hour of direct labor to produce one GO-putter. The normal production capacity for this putter is 100,000 units per year. The total budgeted overhead at normal capacity is $850,000 comprising $250;000 of variable costs and $600,000 of fixed costs. Byrd applies overhead on the basis of direct labor hours.
During the current year, Byrd produced 95,000 putters, worked 94,000 direct labor hours, and incurred variable overhead costs of $256,000 and fixed overhead costs of $600,000.
Instruction
- Compute the predetermined variable overhead rate and the predetermined fixed overhead rate.
- Compute the applied overhead for Byrd for the year.
- Compute the total overhead variance.
Ceelo Company purchased (at a cost of $10,200) and used 2,400 pounds of materials during May. Ceelo's standard cost of materials per unit produced is based on 2 pounds per unit at a cost $5 per pound. Production on May was 1,050.
Pricard Landscaping plants grass seed as the basic Landscaping for business campuses. During a recent month, the company worked on three project. The company is interested in controlling the materials costs, namely the grass seed, for these planting project.
Urban Corporation prepared the following variance report.
Fisk Company uses a standard cost accounting system During January, the company reported the following manufacturing variances.
The following is a list of terms related to performance evaluation.
Indicate which of the four perspectives in the balanced scorecard is most likely associated with the objectives that follow.