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):
- Budgeted number of machine-hours planned
- Budgeted fixed manufacturing overhead costs per machine-hour
- Budgeted variable manufacturing overhead costs per machine-hour
- Budgeted number of machine-hours allowed for actual output produced
- Actual number of output units
- Actual number of machine-hours used per output unit