Solution 1:
Variable Overhead Cost Variance | ||||||||||||
Actual Cost | Standard cost for actual quantity | Standard Cost | ||||||||||
AH * | AR = | AH * | SR = | SH * | SR = | |||||||
400000 | $3.06 | $1,224,000.00 | 400000 | $3.00 | $1,200,000.00 | 422500 | $3.00 | $1,267,500.00 | ||||
$24,000.00 | U | $67,500.00 | F | |||||||||
Variable overhead rate variance | Variable overhead efficiency variance | |||||||||||
Variable overhead rate variance | $24,000.00 | U | ||||||||||
Variable overhead efficiency variance | $67,500.00 | F | ||||||||||
Variable overhead cost variance | $43,500.00 | F |
Solution 2:
Fixed Overhead Cost Variance | ||||||||||||
Actual Fixed OH Cost | Budgeted Fixed Overhead | Standard Cost (FOH Applies) | ||||||||||
SH* | BR | |||||||||||
$730,000.00 | $682,500.00 | 422500 | $1.50 | $633,750.00 | ||||||||
$47,500.00 | U | $48,750.00 | U | |||||||||
Fixed overhead Budget Variance | Fixed overhead volume variance | |||||||||||
Fixed overhead Budget Variance | $47,500.00 | U | ||||||||||
Fixed overhead volume variance | $48,750.00 | U | ||||||||||
Total Fixed overhead variance | $96,250.00 | U |
Solution 3:
Overhead controllable variance | ||
Variable Overhead rate Variance | $24,000.00 | Unfavorable |
Variable overhead efficiency variance | $67,500.00 | Favorable |
Fixed overhead spending variance | $47,500.00 | Unfavorable |
Overhead controllable variance | $4,000.00 | Unfavorable |
Required information Use the following information for the Exercises below. The following information applies to the...
Use the following information for the Exercises below. [The following information applies to the questions displayed below.) Sedona Company set the following standard costs for one unit of its product for 2017. Direct material (30 lbs. @ $2.50 per lb.) Direct labor (20 hrs. @ $4.80 per hr.) Factory variable overhead (20 hrs. @ $2.30 per hr.) Factory fixed overhead (20 hrs. @ $1.20 per hr.) Standard cost $ 75.00 96.00 46.00 24.00 $241.00 The $3.50 ($2.30 + $1.20) total...
Required information Use the following information for the Exercises below. The following information applies to the questions displayed below) rice by selecting for vorable Compute the fed overhead spending and volume variances and classy each farble or dvorableIndicate the effect of each unfavorable and now Round te per un to 2 decimal places) Acad On cost Feed Of Buited Standard Cont rol Sedona Company set the following standard costs for one unit of its product for this year. Direct material...
Required information The following information applies to the questions displayed below) Sedona Company set the following standard costs for one unit of its product for this year Direct material (30 lbs. @ $2.20 per Ib.) Direct labor (10 hrs. @ $4.60 per hr.) Variable overhead (10 hrs. $3.20 per hr.) Fixed overhead (18 hrs. $1.50 per hr.) Total standard cost $ 66. 46.00 30.00 15.00 $157.00 The $4.50 ($3.00 + $1.50) total overhead rate per direct labor hour is based...
Required information (The following information applies to the questions displayed below.] Sedona Company set the following standard costs for one unit of its product for this year. Direct material (20 Ibs. $3.30 per Ib.) Direct labor (15 hrs. @ $6.00 per hr.) Variable overhead (15 hrs. @ $2.80 per hr.) Fixed overhead (15 hrs. $1.20 per hr.) Total standard cost $ 66.00 90.00 42.00 18.00 $216.00 The $4.00 ($2.80 + $1.20) total overhead rate per direct labor hour is based...
Required Information [The following information applies to the questions displayed below] Sedona Company set the following standard costs for one unit of its product for this year. Direct material (30 lbs. $2.50 per Ib. ) Direct labor (20 hrs. $4.80 per hr.) Variable overhead (20 hrs. $2.30 per hr.) Fixed overhead (20 hrs. $1.20 per hr.) Total standard cost $75.00 96.00 46.00 24.ee $241.00 The $3.50 ($2.30 + $1.20) total overhead rate per direct labor hour is based on an...
18 Operating Levels (% of capacity) Flexible 65 758 70% Budget Budgeted output (units) Budgeted Part 2 of 42,250 45,500 48,750 labor 455,000 487,500 422,500 2 (standard hours) Budgeted overhead (dollars) points eBook Variable $1,267,500 $1,365,000 $1,462,500 overhead Fixed 682,500 682,500 682,500 Hint overhead Total $1,950,000 $2,047,500 $2,145,000 overhead Print During the current month, the company operated at 65% of capacity, employees worked 400,000 hours, and the following actual overhead costs were incurred Variable $1,224,000 overhead costs Fixed overhead 730,000...
Required information Use the following information for the Problems below. [The following information applies to the questions displayed below.] Trico Company set the following standard unit costs for its single product. Direct materials (30 lbs. @ $4.00 per Ib.) Direct labor (7 hrs. @ $14 per hr.) Factory overhead-variable (7 hrs. @ $7 per hr.) Factory overhead-fixed (7 hrs. @ $11 per hr.) Total standard cost $120.00 98.00 49.00 77.00 $344.00 The predetermined overhead rate is based on a planned...
Need help with the following accounting problem. Required information Use the following information for the Problems below. [The following information applies to the questions displayed below.) Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. @ $5.00 per Ib.) Direct labor (7 hrs. @ $14 per hr.) Factory overhead-variable (7 hrs. @ $7 per hr.) Factory overhead-fixed (7 hrs. @ $9 per hr.) Total standard cost $150.00 98.00 49.00 63.00 $360.00 The predetermined...
Required information [The following information applies to the questions displayed below.] Sedona Company set the following standard costs for one unit of its product for 2017. Direct material (20 Ibs. @ $3.20 per Ib.) $ 64.00 Direct labor (10 hrs. @ $8.30 per hr.) 83.00 Factory variable overhead (10 hrs. @ $4.70 per hr.) 47.00 Factory fixed overhead (10 hrs. @ $2.30 per hr.) 23.00 Standard cost $ 217.00 The $7.00 ($4.70 + $2.30) total overhead rate per direct labor...
Required information Use the following information for the Problems below. [The following information applies to the questions displayed below.) Trico Company set the following standard unit costs for its single product. Direct materials (30 Ibs. @ $4.40 per Ib.) Direct labor (6 hrs. @ $14 per hr.) Factory overhead-variable (6 hrs. @ $8 per hr.) Factory overhead-fixed (6 hrs. @ $12 per hr.) Total standard cost $132.00 84.00 48.00 72.00 $336.00 The predetermined overhead rate is based on a planned...