Sedona Company set the folowing standand costs for one unit of ts produt for 201

Question

Sedona Company set the folowing standand costs for one unit of ts produt for 2013 2.00 Dinect matenal 20bs 54.10 per lb Dinedt labor (15 hrs $8 00 per hr Factory variable overead (10 hrs 53.60 per hr) Factory ted iverhead (10 hrs.¢SISO per hr) PO 00 30 00 14.00 224.00 Sundard o The 35 20 (53.80+510) totaloverhead rate par dinet abor hour is based on an expected operating level equal to 70% oft, betory s capacty of50.000umts per nenh Th.foleurgeomytete budget eformation is also ava lable Operatng Leves (s of ca ees 75% 48.500 70% 429 00042.000 45000 $1544 40° $1551200 St782000 Budgeted output (una Budgeted labor (standard hours) Variable ovethead Fxed overhead 730 200 730 200 30 200 Total overhead 2.283.600 $2402.400 $2.521200 of capaoty employees worked 410,000 hours and OH costs per hour" to 2 decimal places) ,on th*arent month,the company operated atee% of capaty envoyees woried 410 actual overhead costs were incurned. (Round Variable overhead co Fsed overhead costs $1501.000 784 200 Total overhead oosts $2.265 200 (Compute the presetermined overhead application rate per hour for predetermned overhead appicaton rate per hour tr wanable overhead. ted overhead andtotai overhead st 70% of Predetermined OH Variable overhead costs Fxed overhead costs Total overhead costs (2) Compute the variable and fxed overhead variances At 65% of operating Standard DL Overhead Coss Actual esuts Variance Fav/Unf Hours Variable overhead costs Fised overhead costs Total overhead costs

Explanation / Answer

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variable overhead cost = total variable overhead cost / number of labor hours

fixed overhead cost = total fixed overhead cost / number of labor hours

standard oh cost greater than actual oh cost means oh over applied vice versa

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