My Accounting Lab 8-30 Comprehensive variance analysis

My Accounting Lab


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:

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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


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