Managerial Accounting

Managerial Accounting - 1) Lasso Corp. budgeted $250,000 of...

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1) Lasso Corp. budgeted $250,000 of overhead cost for 2008. Actual overhead costs for the year were $240,000. Lasso's plant-wide allocation base, machine hours, was budgeted at 50,000 hours. Actual machine hours were 40,000. Budgeted units to be produced are 100,000 units. Lasso's single plant-wide factory overhead rate for 2008 is a. $1.25 per machine hour b. $6.00 per unit c. $6.25 per unit d. $5.00 per unit 2) Stewart Marketing Inc. manufactures two products, A and B. Presently, the company uses a single Plant- Wide factory overhead rate for allocating overhead to products. From the following information, determine the single-wide factory overhead rate: Direct Labor Overhead Hours (dlh) A B Painting Dept. $248,000 10,000 dlh 16 dlh 4 dlh Finishing Dept. 72,000 10,000 dlh 4 dlh 16 dlh Totals $320,000 20,000 dlh 20 dlh 20 dlh a. $32.00 per dlh b. $24.80 per dlh c. $16.00 per dlh d. $7.20 per dlh 3) The Kaumajet Factory produces two products - small lamps and desk lamps. It has two separate departments - finishing and production. The overhead budget for the finishing department is $550,000, using 500,000 direct labor hours. The overhead budget for the production department is $400,000 using 80,000 direct labor hours. If the budget estimates that a small lamp will require 2 hours of finishing and 1
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Managerial Accounting - 1) Lasso Corp. budgeted $250,000 of...

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