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isabelj2004
08.11.2019 •
Business
Tiger equipment inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the welding department for may of the current year. the company expected to operate the department at 100% of normal capacity of 8,400 hours. variable costs: indirect factory wages $30,240 power and light 20,160 indirect materials 16,800 total variable cost $67,200 fixed costs: supervisory salaries $20,000 depreciation of plant and equipment 36,200 insurance and property taxes 15,200 total fixed cost 71,400 total factory overhead cost $138,600during may, the department operated at 8,860 hours, and the factory overhead costs incurred were indirect factory wages, $32,400; power and light, $21,000; indirect materials, $18,250; supervisory salaries, $20,000; depreciation of plant and equipment, $36,200; and insurance and property taxes, $15,200.required: prepare a factory overhead cost variance report for may. to be useful for cost control, the budgeted amounts should be based on 8,860 hours. enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
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Ответ:
Manufacturing overhead spending variance= -110,927.2 favorable
Explanation:
Giving the following information:
The company expected to operate the department at 100% of the normal capacity of 8,400 hours.
Variable costs:
Indirect factory wages $30,240
Power and light 20,160
Indirect materials 16,800
Total variable cost $67,200
Fixed costs:
Supervisory salaries $20,000
Depreciation of plant and equipment 36,200
Insurance and property taxes 15,200
Total fixed cost 71,400
Total factory overhead cost $138,600
During May, the department operated at 8,860 hours, and the factory overhead costs incurred were:
indirect factory wages, $32,400
power and light, $21,000
indirect materials, $18,250
supervisory salaries, $20,000
depreciation of plant and equipment, $36,200
insurance and property taxes, $15,200.
Manufacturing overhead spending variance= (standard rate - actual rate)* actual quantity
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= (67,200 + 138,600)/8400= 24.5 per hour
Actual overhead rate= 106150/8860= 11.98
Manufacturing overhead spending variance= (24.5 - 11.98)*8860= 110,927.2 favorable
Ответ:
D)grossly inadequate.
Explanation:
From the question we are informed about American Engineering, Inc., defends against a breach-of-contract suit by Beta Corporation by claiming that the consideration for their contract was inadequate. In this case A court will not normally evaluate the adequacy of consideration unless it is
grossly inadequate. Grossly inadequate consideration is possible to be reviewed by the court when there is a contract dispute. However Consideration does not involve things that both parties were required to carry out under law because it does not add anything to additional value.