Homework Answers
solution 1:
| Controllable variance | ||
| Particulars | Amount | |
| Total actual overhead | $89,870.00 | |
| Flexible budget overhead: | ||
| Variable overhead | $40,500.00 | |
| Fixed overhead | $51,000.00 | |
| Total | $91,500.00 | |
| Overhead controllable variance | $1,630 F | |
Solution 2:
| Volume Variance | |
| Fixed overhead applied ($51,000/8000*9000) | $57,375.00 |
| Budgeted fixed overhead | $51,000.00 |
| Volume variance | $6,375 F |
solution 3:
| Blaze Corp. | ||||
| Overhead variance report | ||||
| For the Month Ended March 31 | ||||
| Expected Production volume | 80% of capacity | |||
| Production level achieved | 90% of capacity | |||
| Volume variance | $6,375 Favorable | |||
| Particulars | Flexible Budget | Actual | Variance | Fav/Unfav. |
| Variable overhead costs: | ||||
| Indirect materials | $12,600.00 | $11,200.00 | $1,400.00 | Favorable |
| Indirect labor | $18,450.00 | $16,400.00 | $2,050.00 | Favorable |
| Power | $6,525.00 | $6,525.00 | $0.00 | No Variance |
| Maintenance | $2,925.00 | $3,695.00 | $770.00 | Unfavorable |
| Total variable overhead cost | $40,500.00 | $37,820.00 | $2,680.00 | Favorable |
| Fixed overhead costs: | ||||
| Depreciation machinery | $20,200.00 | $19,450.00 | $750.00 | Favorable |
| Rent of factory building | $14,000.00 | $14,000.00 | $0.00 | No Variance |
| Supervisory salaries | $14,700.00 | $15,800.00 | $1,100.00 | Unfavorable |
| Taxes and insurance | $2,100.00 | $2,800.00 | $700.00 | Unfavorable |
| Total fixed overhead cost | $51,000.00 | $52,050.00 | $1,050.00 | Unfavorable |
| Total costs | $91,500.00 | $89,870.00 | $1,630.00 | Favorable |
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Blaze Corp, applies overhead on the...
Blaze Corp, applies overhead on the basis of direct labor hours. For the month of March,...
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 808 10,000 30,000 Overhead Budget Production in units Standard direct labor hours Budgeted overhead Variable overhead costo Indirect materials Indirect labor Power Maintenance Total variable costs Fixed overhead costs Rent of factory building Depreciation-Machinery Taxes and insurance Supervisory salaries Total fixed costs...
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...
Blaze Corp. applies overhead on the basis of direct labor hours. For the month of March,...
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
20,000
Budgeted overhead
Variable overhead costs
Indirect materials
$
21,000
Indirect labor
25,000
Power
6,800
Maintenance
5,200
Total variable costs
58,000
Fixed overhead costs
Rent of factory building
24,000
Depreciation—Machinery
28,000...
Blaze Corp. applies overhead on the basis of direct labor hours. For the month of March,...
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
20,000
Budgeted overhead
Variable overhead costs
Indirect materials
$
21,000
Indirect labor
25,000
Power
6,800
Maintenance
5,200
Total variable costs
58,000
Fixed overhead costs
Rent of factory building
24,000
Depreciation—Machinery
28,000...
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...
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...
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 8,000 units
(80% of its production capacity of 10,000 units) and prepared the
following overhead budget:
Operating Levels
Overhead Budget
80%
Production in units
8,000
Standard direct labor hours
32,000
Budgeted overhead
Variable overhead costs
Indirect materials
$
22,400
Indirect labor
32,000
Power
6,400
Maintenance
3,200
Total variable costs
64,000
Fixed overhead costs
Rent of factory building
16,000
Depreciation—Machinery...
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 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 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...
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...
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 808 10,000 30,000 Overhead Budget Production in units Standard direct labor hours Budgeted overhead Variable overhead costo Indirect materials Indirect labor Power Maintenance Total variable costs Fixed overhead costs Rent of factory building Depreciation-Machinery Taxes and insurance Supervisory salaries Total fixed costs...
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...
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
20,000
Budgeted overhead
Variable overhead costs
Indirect materials
$
21,000
Indirect labor
25,000
Power
6,800
Maintenance
5,200
Total variable costs
58,000
Fixed overhead costs
Rent of factory building
24,000
Depreciation—Machinery
28,000...
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
20,000
Budgeted overhead
Variable overhead costs
Indirect materials
$
21,000
Indirect labor
25,000
Power
6,800
Maintenance
5,200
Total variable costs
58,000
Fixed overhead costs
Rent of factory building
24,000
Depreciation—Machinery
28,000...
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...
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...
James Corp. applies overhead on the basis of direct labor hours.
For the month of May, the company planned production of 8,000 units
(80% of its production capacity of 10,000 units) and prepared the
following overhead budget:
Operating Levels
Overhead Budget
80%
Production in units
8,000
Standard direct labor hours
32,000
Budgeted overhead
Variable overhead costs
Indirect materials
$
22,400
Indirect labor
32,000
Power
6,400
Maintenance
3,200
Total variable costs
64,000
Fixed overhead costs
Rent of factory building
16,000
Depreciation—Machinery...
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 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...
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...
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