Platt Company produces one product, a putter called PAR-putter. Platt uses a standard cost system and determines that it should take one hour of direct labor to produce one PAR-putter. The normal production capacity for this putter is 100,000 units per year. The total budgeted overhead at normal capacity is $500,000 comprised of $200,000 of variable costs and $300,000 of fixed costs. Platt applies overhead on the basis of direct labor hours. During the current year, Platt produced 85,000 putters, worked 89,000 direct labor hours, and incurred variable overhead costs of $160,000 and fixed overhead costs of $300,000.
1. Compute the pre-determined variable overhead rate and the pre-determined fixed overhead rate.
Variable Overhead Rate
Fixed Overhead Rate
2. Compute the applied overhead for Platt for the year.
Applied Overhead
3. Compute the total overhead variance
Total Overhead Variance
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Platt Company produces one product, a putter called PAR-putter. Platt uses a standard cost system an...
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