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My Accounting Lab 8-30 Comprehensive variance analysis

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My Accounting Lab

8-30

Comprehensive variance analysis. Chef Whiz manufactures premium food

processors. The following are some manufacturing overhead data for Chef Whiz for the year ended December 31, 2014:

Manufacturing Overhead Actual Results Flexible Budget Allocated Amount
Variable $51,480 $79,950 $79,950
Fixed 350,210 343,980 380,250

Budgeted number of output units: 588

Planned allocation rate: 3 machine-hours per unit

Actual number of machine-hours used: 1,170

Static-budget variable manufacturing overhead costs: $72,324

Required

Compute the following quantities (you should be able to do so in the prescribed order):

  • 1.Budgeted number of machine-hours planned
  • 2.Budgeted fixed manufacturing overhead costs per machine-hour
  • 3.Budgeted variable manufacturing overhead costs per machine-hour
  • 4.Budgeted number of machine-hours allowed for actual output produced
  • 5.Actual number of output units
  • 6.Actual number of machine-hours used per output unit
 
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