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For the year 2020, KIKO Ltd budgeted to produce 15,000 units of its product, KITO,...

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Accounting

For the year 2020, KIKO Ltd budgeted to produce 15,000 units of its product, KITO, and to
use 30,000 machine hours (that is 2 machine hours per unit of KITO). The company allocates
both variable and fixed manufacturing overhead costs using machine hours. Variable
manufacturing overhead costs were budgeted at $10 per machine hour, and total budgeted
fixed manufacturing costs were $600,000.
Actual results for the year 2020 were:
Q30. The fixed manufacturing overhead allocated was:
$6,400F
$640,000
$632,000
$40,000F
$32,000U
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