Homework Answers
Solution 8:
When more units are produced than were originally planned. In this situation, overhead volume variance is favorable.
Hence first option is correct.
solution 9:
"Flexible budget level of overhead for actual production" used in computation of both controllable overhead variance and overhead volume variance.
Hence 2nd option is correct.
Solution 12:
Reason for overhead volume variance:
1. The actual activity level was less than estimated
2. The expected production level was greater the budgeted
Hence option 2 "II and III" is correct,
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QUESTION 8 In which of the following situations will the overhead volume variance be favorable? O...
Required 2 Required 1 Required 3 Compute the overhead volume variance. Classify as favorable or unfavorable....
Required 2 Required 1 Required 3 Compute the overhead volume variance. Classify as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Do not round intermediate calculations.) Volume Variance Volume variance Required 1 Required 3 Required 1 Required 2 Required 3 Prepare an overhead variance report at the actual activity level of 9,000 units. Classify as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no...
Exercise 21-21 Overhead controllable and volume variances; overhead variance report LO P4 James Corp. applies overhead...
Exercise 21-21 Overhead controllable and volume variances; overhead variance report LO P4 James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following overhead budget: Operating Levels 80% 10,000 25,000 Overhead Budget Production in units Standard direct labor hours Budgeted overhead Variable overhead costs Indirect materials Indirect labor Power Maintenance Total variable costs Fixed overhead costs...
James Corp. applies overhead on the basis of direct labor hours.
James Corp. applies overhead on the basis of direct labor
hours.
James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following overhead budget Overhead Budget Production in units Standard direct labor hours Budgeted overhead 88% 10,000 25,800 Varlable overhead costs Indirect materials Indirect labor Power Maintenance Total variable costs $18,800 25,000 5,000 50.000 Fixed overhead...
QS 8-13 Controllable overhead variance LO P3 Fogel Co. expects to produce 122.000 units for the...
QS 8-13 Controllable overhead variance LO P3 Fogel Co. expects to produce 122.000 units for the year. The company's flexible budget for 122,000 units of production shows variable overhead costs of $170,800 and fixed overhead costs of $125,000. For the year, the company incurred actual overhead costs of $253,800 while producing 116,000 units Compute the controllable overhead variance and classify it as favorable or unfavorable. (Round cost per unit to 2 decimal places.) - Flexible Budget at Flexible Budget Variable...
Blaze Corp. applies overhead on the basis of direct labor hours. For the month of March, the company planned production...
Blaze Corp. applies overhead on the basis of direct labor hours.
For the month of March, the company planned production of 10,000
units (80% of its production capacity of 12,500 units) and prepared
the following budget:
Operating Levels
Overhead Budget
80%
Production in units
10,000
Standard direct labor hours
30,000
Budgeted overhead
Variable overhead costs
Indirect materials
$
30,000
Indirect labor
40,000
Power
8,000
Maintenance
3,000
Total variable costs
81,000
Fixed overhead costs
Rent of factory building
31,000
Depreciation—Machinery
45,000...
James Corp. applies overhead on the basis of direct labor hours. For the month of May,...
James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 10,000 units (80% of its production capacity of 12.500 units) and prepared the following overhead budget: Operating Levels 8004 10,000 26,000 Overhead Budget Production in units Standard direct labor hours Budgeted overhead Variable overhead costs Indirect materials Indirect labor Power Maintenance Total variable costs Fixed overhead costs Rent of factory building Depreciation-Machinery Supervisory salaries Total fixed costs Total overhead...
James Corp. applies overhead on the basis of direct labor hours. For the month of May,...
James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 9,600 units (80% of its production capacity of 12,000 units) and prepared the following overhead budget: Operating Levels Overhead Budget sex Production in units 9,600 Standard direct labor hours 24,600 Budgeted overhead Variable overhead costs Indirect materials $18,000 Indirect labor 24,000 Power 5,400 Maintenance 3.800 Total variable costs Fixed overhead costs Rent of factory building 20,00 Depreciation-Machinery 10,500 Supervisory...
James Corp. applies overhead on the basis of direct labor hours. For the month of May,...
James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following overhead budget: Operating Levels Overhead Budget 80% Production in units 10,000 Standard direct labor hours 25,000 Budgeted overhead Variable overhead costs Indirect materials $ 18,000 Indirect labor 25,000 Power 5,000 Maintenance 2,000 Total variable costs 50,000 Fixed overhead costs Rent of factory building 18,000 Depreciation—Machinery...
HOW DO I CALCULATE? James Corp. applies overhead on the basis of direct labor hours. For...
HOW DO I CALCULATE?
James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following overhead budget: Operating Levels 80% 10,000 20,000 Overhead Budget Production in units Standard direct labor hours Budgeted overhead Variable overhead costs Indirect materials Indirect labor Power Maintenance Total variable costs Fixed overhead costs Rent of factory building Depreciation Machinery Supervisory salaries...
QS 23-13 Controllable overhead variance LO P3 Fogel Co. expects to produce 109,000 units for the...
QS 23-13 Controllable overhead variance LO P3 Fogel Co. expects to produce 109,000 units for the year. The company's flexible budget for 109,000 units of production shows variable overhead costs of $152.600 and fixed overhead costs of $125.000. For the year, the company incurred actual overhead costs of $261.800 while producing 103.000 units Compute the controllable overhead variance and classify it as favorable or unfavorable (Round cost per unit to 2 decimal places.) ...Flexible Budget at - ----Flexible Budget... Variable...
Required 2 Required 1 Required 3 Compute the overhead volume variance. Classify as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Do not round intermediate calculations.) Volume Variance Volume variance Required 1 Required 3 Required 1 Required 2 Required 3 Prepare an overhead variance report at the actual activity level of 9,000 units. Classify as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no...
Exercise 21-21 Overhead controllable and volume variances; overhead variance report LO P4 James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following overhead budget: Operating Levels 80% 10,000 25,000 Overhead Budget Production in units Standard direct labor hours Budgeted overhead Variable overhead costs Indirect materials Indirect labor Power Maintenance Total variable costs Fixed overhead costs...
James Corp. applies overhead on the basis of direct labor
hours.
James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following overhead budget Overhead Budget Production in units Standard direct labor hours Budgeted overhead 88% 10,000 25,800 Varlable overhead costs Indirect materials Indirect labor Power Maintenance Total variable costs $18,800 25,000 5,000 50.000 Fixed overhead...
QS 8-13 Controllable overhead variance LO P3 Fogel Co. expects to produce 122.000 units for the year. The company's flexible budget for 122,000 units of production shows variable overhead costs of $170,800 and fixed overhead costs of $125,000. For the year, the company incurred actual overhead costs of $253,800 while producing 116,000 units Compute the controllable overhead variance and classify it as favorable or unfavorable. (Round cost per unit to 2 decimal places.) - Flexible Budget at Flexible Budget Variable...
Blaze Corp. applies overhead on the basis of direct labor hours.
For the month of March, the company planned production of 10,000
units (80% of its production capacity of 12,500 units) and prepared
the following budget:
Operating Levels
Overhead Budget
80%
Production in units
10,000
Standard direct labor hours
30,000
Budgeted overhead
Variable overhead costs
Indirect materials
$
30,000
Indirect labor
40,000
Power
8,000
Maintenance
3,000
Total variable costs
81,000
Fixed overhead costs
Rent of factory building
31,000
Depreciation—Machinery
45,000...
James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 10,000 units (80% of its production capacity of 12.500 units) and prepared the following overhead budget: Operating Levels 8004 10,000 26,000 Overhead Budget Production in units Standard direct labor hours Budgeted overhead Variable overhead costs Indirect materials Indirect labor Power Maintenance Total variable costs Fixed overhead costs Rent of factory building Depreciation-Machinery Supervisory salaries Total fixed costs Total overhead...
James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 9,600 units (80% of its production capacity of 12,000 units) and prepared the following overhead budget: Operating Levels Overhead Budget sex Production in units 9,600 Standard direct labor hours 24,600 Budgeted overhead Variable overhead costs Indirect materials $18,000 Indirect labor 24,000 Power 5,400 Maintenance 3.800 Total variable costs Fixed overhead costs Rent of factory building 20,00 Depreciation-Machinery 10,500 Supervisory...
HOW DO I CALCULATE?
James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following overhead budget: Operating Levels 80% 10,000 20,000 Overhead Budget Production in units Standard direct labor hours Budgeted overhead Variable overhead costs Indirect materials Indirect labor Power Maintenance Total variable costs Fixed overhead costs Rent of factory building Depreciation Machinery Supervisory salaries...
QS 23-13 Controllable overhead variance LO P3 Fogel Co. expects to produce 109,000 units for the year. The company's flexible budget for 109,000 units of production shows variable overhead costs of $152.600 and fixed overhead costs of $125.000. For the year, the company incurred actual overhead costs of $261.800 while producing 103.000 units Compute the controllable overhead variance and classify it as favorable or unfavorable (Round cost per unit to 2 decimal places.) ...Flexible Budget at - ----Flexible Budget... Variable...
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