Accounting Assignment | Custom Assignment Help

In addition to the fragmentary data still legible on the performance report, your neighbor happened to remember the following facts.

• Planned production of Conundrum’s sole product was 500 units more than the actual production.
• All of the direct material purchased in January was used in production.
• There were no beginning or ending inventories.
• Variable and fixed overhead are applied on the basis of direct-labor hours. The fixed-overhead rate is $4.00 per hour.

Required:Feeling guilty, you have agreed to help your neighbor reconstruct the following facts, which will be necessary for her presentation.

1. Planned production (in units).
2. Actual production (in units).
3. Actual fixed overhead.
4. Total standard allowed direct-labor hours.
5. Actual direct-labor rate.
6. Standard variable-overhead rate.
7. Actual variable-overhead rate.
8. Standard direct-material quantity per unit.
9. Direct-material price variance.
10. Applied fixed overhead.
11. Fixed-overhead volume variance.