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The manufacturing overhead costs are applied to products on the basis of machine time. Unfortunately, due...

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Accounting

The manufacturing overhead costs are applied to products on thebasis of machine time. Unfortunately, due to system glitch, severalnumbers and labels have been omitted from the analysis of fixedoverhead below. Supply the missing numbers and labels to helpout:

1) Assume 6 minutes of machine time is standard per unit ofproduction. How many units were actually produced in thissituation?

Actual Fixed Overhead Cost

Flexible Budget Overhead Cost

Fixed Overhead Cost Applied to Work in Progress

(a)

(b)

302,100 MH x $1.08 = (c)

Budget variance, $1,880 U

(d)

Total variance, $388 F

(e

Answer & Explanation Solved by verified expert
3.6 Ratings (467 Votes)
6 minutes of machine time is standard per unit of production How many units were actually produced in this situation Actual units produced 3021000 Fixed Overhead Cost Applied to Work in Progress 302100108 326268 Fixed Overhead Cost Applied to Work in Progress 326268 Less Total variance 388 Actual Fixed Overheads 325880 Actual Fixed    See Answer
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