Homework Answers
| Part01 | ||
| (1) | (2) | (3) |
| Actual Fixed Overhead | Budgeted Fixed Overhead | Std Hour X Std Fixed Overehad Rate |
| 425000 | 500000 |
(42500X$10)= $ 425000 |
| $75000 Favourable | $75000 Unfavourable | |
| Spending | Volume | |
| (2-1) | (3-2) | |
| Part-2 |
| Fixed Overhead Spending Variance= ( Budgeted Fixed Overhead- Actual Fixed Overhead) |
| =(500000-425000)=$75000 Favourable |
| Part-3: |
| Fixed Overhead Volume Variance= Applied Overehad( i.e. Std HourX Std Rate) - Budgeted Overehad |
| =(425000-500000)=$75000 Unfavourable |
| Part-4: Total Fixed Overhead Variance. |
| Applied Fixed Overhead- Actual Fixed Overhead |
| (425000-425000)=$0 |
Add Answer to:
Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches Corey Company provided the following information:...
Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches Corey Company provided the following info...
Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches Corey Company provided the following information: Standard fixed overhead rate (SFOR) per direct labor hour $10.00 Actual fixed overhead $425,000 Budgeted fixed overhead $500,000 Actual production in units 8,500 Standard hours allowed for actual units produced (SH) 42,500 Required Enter amounts as positive numbers and select Favorable (F) or Unfavorable(U). If no variance, enter $0 and select 0. 1. Using the columnar approach, calculate the fixed overhead spending and volume...
Variable Overhead Spending and Efficiency Variances, Columnar and Formula Approaches Aretha Company provided the following information:...
Variable Overhead Spending and Efficiency Variances, Columnar and Formula Approaches Aretha Company provided the following information: Standard variable overhead rate (SVOR) per direct labor hour $4.70 Actual variable overhead costs $335,750 Actual direct labor hours worked (AH) 69,200 Actual production in units 14,000 70,000 Standard hours (SH) allowed for actual units produced Required: 1. Using the columnar approach, calculate the variable overhead spending and efficiency variances. Enter amounts as positive numbers and select Favorable (F) or Unfavorable (U). (1) AH...
Overhead Application, Fixed and Variable Overhead Variances Zepol Company is planning to produce 600,000 power drills...
Overhead Application, Fixed and Variable Overhead Variances Zepol Company is planning to produce 600,000 power drills for the coming year. The company uses direct labor hours to assign overhead to products. Each drill requires 0.75 standard hour of labor for completion. The total budgeted overhead was $1,777,500. The total fixed overhead budgeted for the coming year is $832,500. Predetermined overhead rates are calculated using expected production, measured in direct labor hours. Actual results for the year are: Actual production (units)...
Total Fixed Overhead Variance Bulger Company provided the following data: Standard fixed overhead rate (SFOR) $8 per di...
Total Fixed Overhead Variance Bulger Company provided the following data: Standard fixed overhead rate (SFOR) $8 per direct labor hour Actual fixed overhead costs $985,300 Standard hours allowed per unit 6 hours Actual production 20,000 units Required: 1. Calculate the standard hours allowed for actual production. 60,000 X hours 2. Calculate the applied fixed overhead. $ 300,000 x 3. Calculate the total fixed overhead variance. Enter the amount as a positive number and select Favorable or Unfavorable. $ 1,680 X...
Static Plexible Volume Purchasing manager Favorable Unfavorable Debit Credit Fixed overhead budget Fixed overhead volune Spending...
Static Plexible Volume Purchasing manager Favorable Unfavorable Debit Credit Fixed overhead budget Fixed overhead volune Spending Production manager Variable overhead rate Variable overhead effieiency Fixed overhead spending Ixed overhead spending 1. A budget is based on a fixed estimate of sales volume. A volume 2. variance represents the difference between actual and expected levels of activity 3. The is typically responsible for the direct materials quantity variance The variable overhead rate variance is 4 when the actual variable overhead rate...
Use the following information of Alfred Industries. Standard manufacturing overhead based on normal monthly volume: Fixed...
Use the following information of Alfred Industries. Standard manufacturing overhead based on normal monthly volume: Fixed ($303,900 ÷ 20,000 units) $ 15.20 Variable ($100,000 ÷ 20,000 units) 5.00 $ 20.20 Units actually produced in current month 18,000 units Actual overhead costs incurred (including $300,000 fixed) $ 383,800 Compute the overhead spending variance and the volume variance. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).) Overhead spending...
Fixed Overhead Variances Rostand Inc. operates a delivery service for over 70 restaurants. The corporation has...
Fixed Overhead Variances Rostand Inc. operates a delivery service for over 70 restaurants. The corporation has a fleet of vehicles and has invested in a sophisticated, computerized communications system to coordinate its deliveries. Rostand has gathered the following actual data on last year's delivery operations: Deliveries made 38,600 Direct labor 31,000 direct labor hours @ $14.00 Actual variable overhead $157,700 Rostand employs a standard costing system. During the year, a variable overhead rate of $5.10 per hour was used. The...
Fixed Overhead Variances Rostand Inc, operates a delivery service for over 70 restaurants. The corporation has...
Fixed Overhead Variances Rostand Inc, operates a delivery service for over 70 restaurants. The corporation has a fleet of vehicles and has invested in a sophisticated, computerized communications system to coordinate its deliveries, Rostand has gathered the following actual data on last years delivery operations Deliveries made Direct labor Actual variable overhead 38,600 31,000 drect labor hours@ $14.00 $157,700 Rostand employs a standard costing systm During the year a variable ovehead rate of $5.10 per our was used. Tthe labhor...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual output of 124,000 units requiring 496,000 direct labor hours. (Practical capacity is 516,000 hours.) Annual budgeted overhead costs total $828,320, of which $590,240 is fixed overhead. A total of 119,200 units using 494,000 direct labor hours were produced during the year. Actual variable overhead costs for the year were $261,300, and...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual output of 125,000 units requiring 500,000 direct labor hours. (Practical capacity is 520,000 hours.) Annual budgeted overhead costs total $840,000, of which $595,000 is fixed overhead. A total of 119,300 units using 498,000 direct labor hours were produced during the year. Actual variable overhead costs for the year were $262,000, and...
Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches Corey Company provided the following information: Standard fixed overhead rate (SFOR) per direct labor hour $10.00 Actual fixed overhead $425,000 Budgeted fixed overhead $500,000 Actual production in units 8,500 Standard hours allowed for actual units produced (SH) 42,500 Required Enter amounts as positive numbers and select Favorable (F) or Unfavorable(U). If no variance, enter $0 and select 0. 1. Using the columnar approach, calculate the fixed overhead spending and volume...
Variable Overhead Spending and Efficiency Variances, Columnar and Formula Approaches Aretha Company provided the following information: Standard variable overhead rate (SVOR) per direct labor hour $4.70 Actual variable overhead costs $335,750 Actual direct labor hours worked (AH) 69,200 Actual production in units 14,000 70,000 Standard hours (SH) allowed for actual units produced Required: 1. Using the columnar approach, calculate the variable overhead spending and efficiency variances. Enter amounts as positive numbers and select Favorable (F) or Unfavorable (U). (1) AH...
Overhead Application, Fixed and Variable Overhead Variances Zepol Company is planning to produce 600,000 power drills for the coming year. The company uses direct labor hours to assign overhead to products. Each drill requires 0.75 standard hour of labor for completion. The total budgeted overhead was $1,777,500. The total fixed overhead budgeted for the coming year is $832,500. Predetermined overhead rates are calculated using expected production, measured in direct labor hours. Actual results for the year are: Actual production (units)...
Total Fixed Overhead Variance Bulger Company provided the following data: Standard fixed overhead rate (SFOR) $8 per direct labor hour Actual fixed overhead costs $985,300 Standard hours allowed per unit 6 hours Actual production 20,000 units Required: 1. Calculate the standard hours allowed for actual production. 60,000 X hours 2. Calculate the applied fixed overhead. $ 300,000 x 3. Calculate the total fixed overhead variance. Enter the amount as a positive number and select Favorable or Unfavorable. $ 1,680 X...
Static Plexible Volume Purchasing manager Favorable Unfavorable Debit Credit Fixed overhead budget Fixed overhead volune Spending Production manager Variable overhead rate Variable overhead effieiency Fixed overhead spending Ixed overhead spending 1. A budget is based on a fixed estimate of sales volume. A volume 2. variance represents the difference between actual and expected levels of activity 3. The is typically responsible for the direct materials quantity variance The variable overhead rate variance is 4 when the actual variable overhead rate...
Fixed Overhead Variances Rostand Inc. operates a delivery service for over 70 restaurants. The corporation has a fleet of vehicles and has invested in a sophisticated, computerized communications system to coordinate its deliveries. Rostand has gathered the following actual data on last year's delivery operations: Deliveries made 38,600 Direct labor 31,000 direct labor hours @ $14.00 Actual variable overhead $157,700 Rostand employs a standard costing system. During the year, a variable overhead rate of $5.10 per hour was used. The...
Fixed Overhead Variances Rostand Inc, operates a delivery service for over 70 restaurants. The corporation has a fleet of vehicles and has invested in a sophisticated, computerized communications system to coordinate its deliveries, Rostand has gathered the following actual data on last years delivery operations Deliveries made Direct labor Actual variable overhead 38,600 31,000 drect labor hours@ $14.00 $157,700 Rostand employs a standard costing systm During the year a variable ovehead rate of $5.10 per our was used. Tthe labhor...
Most questions answered within 3 hours.
-
In winter a lake has a 0.35 m thick ice layer over 1.10 m of
water....
asked 44 minutes ago -
Assuming the following has been encrypted with a Vigenere cipher
below, use the method(s) and assumptions...
asked 1 hour ago -
How would I use switch statements to write a program that will
take an input of...
asked 1 hour ago -
Imagine a reaction in which methane gas combusts at a constant
pressure of 1 atm and...
asked 1 hour ago -
Two parallel wires (each 12 m in length) are separated by a
distance of 0.065 m...
asked 1 hour ago -
Suppose there were three masses at the corner of uniform
equilateral triangle. The masses are m1...
asked 1 hour ago -
Situation: A building that is 618 m above the ground floor. How
many times would a...
asked 1 hour ago -
help me and discuss one successful and one
unsuccessful international company/busines in Indonesia.whyit
succeed and why...
asked 1 hour ago -
I- Choose the best answer
Which of the following statements about the structure and
packaging of...
asked 1 hour ago -
1. A sample of 144 incoming freshman found that 45 of them
scored more than 550...
asked 1 hour ago -
Kc is 2.35 × 1018 at 25 °C for the formation of iron(III)
oxalate complex ion....
asked 1 hour ago -
Team Values – Discuss as a team what values are important.
Develop a statement or itemised...
asked 1 hour ago