Martin Williams, manager of Williams Contracting, wants to compute the variable overhead efficiency variance for the...
Martin Williams, manager of Williams Contracting, wants to compute the variable overhead efficiency variance for the year. He has the following details:
Variable overhead flexible budget variance (unfavorable) - $23,625
Budgeted input quantity allowed for actual output - 9,000 units
Actual input quantity used of cost-allocation base used - 10,125 units
Budgeted variable overhead cost per unit of cost-allocation base - $30
Actual variable overhead cost per unit of cost-allocation base - $29
What will be the variable overhead efficiency variance for the year?
$33,750 Favorable
$33,750 Unfavorable
$32,625 Favorable
$32,625 Unfavorable
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Martin Williams, manager of Williams Contracting, wants to
compute the variable overhead efficiency variance for the...
ABC Company has the following standards and flexible budget data: Standard Variable Overhead Rate $5.40 Per...
ABC Company has the following standards and flexible budget data: Standard Variable Overhead Rate $5.40 Per direct labour hour Standard quantity of direct labor $1.80 hours per unit of output Budgeted fixed overhead rate $100,000 Budgeted Output 25,000 units Standard Variable Overhead $10.80 per unit Standard Fixed Overhead $3.60 per unit Actual Results for November are given below: Actual Output 30,000 units Actual variable overhead $360,000 Actual Fixed Overhead $106,000 Actual Direct Labor 56,000 hours REQUIRED: A) Variable manufacturing overhead...
Choose the correct bolded choices to complete the sentences. The variable overhead cost variance is (favorable,...
Choose the correct bolded choices to complete the
sentences.
The variable overhead cost variance is (favorable,
unfavorable) because Longman actually spent (less,
more) than budgeted.
The variable overhead efficiency variance is (favorable,
unfavorable) because the actual hours used was
(more, less) than budgeted.
The fixed overhead cost variance is (favorable,
unfavorable) because Longman actually spent (less,
more) than budgeted for fixed overhead.
The fixed overhead volume variance is (favorable,
unfavorable) because Longman allocated (more,
less) overhead to jobs than the...
Standard machine hours per unit of output 4 hours Standard variable-overhead rate per machine hour 8.00...
Standard machine hours per unit of output 4 hours Standard variable-overhead rate per machine hour 8.00 Actual variable-overhead rate per machine hour Actual machine hours per unit of output Budgeted fixed overhead |Actual fixed overhead Budgeted production in units Actual production in units Variable-overhead spending variance Variable-overhead efficiency variance Fixed-overhead budget variance Fixed-overhead volume variance Total actual overhead Total budgeted overhead (flexible budget) Total budgeted overhead (static budget) Total applied overhead 9.00 3 S 50,000 25,000 24,000 72,000 Unfavorable 192,000...
Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate Standard quantity of...
Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output $ 6.00 per direct-labor hour 2 hours per unit of output $144,000 24,000 units Actual results for April are as follows: 1 + Actual output Actual variable overhead Actual fixed overhead Actual direct labor 17,000 units $306,000 $141,000 50,000 hours Required: Use the variance formulas to compute the following variances. (Indicate the effect of each variance by...
10 Direct materials Standard per unit Actual $ 4 per pound Used 15 Materials quantity variance...
10 Direct materials Standard per unit Actual $ 4 per pound Used 15 Materials quantity variance $ 3 2 pounds pounds Produced 10 finished units (AQ used - SQ allowed) SP A B C D 15 20 39 78 2 pt Variance is A favorable B unfavorable SQ allowed Standard per unit actual units 11 FACTORY OVERHEAD Machine Hours Budgeted $50 Standard allowed 16 Actual 180 Actual Variable factory overhead (activity base) rate per machine hour $10 Efficiency variance 10...
Alden Company uses a three-variance analysis for factory overhead variances. Practical capacity i...
Alden Company uses a three-variance analysis for factory overhead variances. Practical capacity is defined as 26 setups and 26,000 machine hours to manufacture 6,500 units for the year. Selected data for 2019 follow Budgeted fixed factory overhead: $ 54,600 178,000 Setup cost Other $232,600 $481,000 Total factory overhead cost incurred Variable factory overhead rate: $ 400 $6.00 30,000 34,500 Per setup Per machine hour Total standard machine hours allowed for the units manufactured Machine hours actually worked Actual total number...
Alden Company uses a three-variance analysis for factory overhead variances. Practical capacity is defined as 28...
Alden Company uses a three-variance analysis for factory
overhead variances. Practical capacity is defined as 28 setups and
28,000 machine hours to manufacture 5,600 units for the year.
Selected data for 2019 follow:
Budgeted fixed factory overhead:
Setup cost
$
84,000
Other
186,000
$
270,000
Total factory overhead cost incurred
$
490,000
Variable factory overhead rate:
Per setup
$
850
Per machine hour
$
5.00
Total standard machine hours allowed for the units
manufactured
25,000
hours
Machine hours actually worked...
Alden Company uses a three-variance analysis for factory overhead variances. Practical capacity is defined as 32...
Alden Company uses a three-variance analysis for factory overhead variances. Practical capacity is defined as 32 setups and 32,000 machine hours to manufacture 6,400 units for the year. Selected data for 2019 follow: $ 102,400 174,000 $276,400 $496,000 Budgeted fixed factory overhead: Setup cost Other Total factory overhead cost incurred Variable factory overhead rate: Per setup Per machine hour Total standard machine hours allowed for the units manufactured Machine hours actually worked Actual total number of setups Actual number of...
Alden Company uses a three-variance analysis for factory overhead variances. Practical capacity is defined as 34...
Alden Company uses a three-variance analysis for factory overhead variances. Practical capacity is defined as 34 setups and 34,000 machine hours to manufacture 8,500 units for the year. Selected data for 2019 follow: Budgeted fixed factory overhead: Setup cost $ 85,000 Other 186,000 $ 271,000 Total factory overhead cost incurred $ 485,000 Variable factory overhead rate: Per setup $ 400 Per machine hour $ 5.00 Total standard machine hours allowed for the units manufactured 27,000 hours Machine hours actually worked...
Alden Company uses a three-variance analysis for factory overhead variances. Practical capacity is defined as 40...
Alden Company uses a three-variance analysis for factory overhead variances. Practical capacity is defined as 40 setups and 40,000 machine hours to manufacture 8,000 units for the year. Selected data for 2019 follow: Budgeted fixed factory overhead: Setup cost $ 76,800 Other 230,000 $ 306,800 Total factory overhead cost incurred $ 484,000 Variable factory overhead rate: Per setup $ 550 Per machine hour $ 4.00 Total standard machine hours allowed for the units manufactured 28,000 hours Machine hours actually worked...
Choose the correct bolded choices to complete the
sentences.
The variable overhead cost variance is (favorable,
unfavorable) because Longman actually spent (less,
more) than budgeted.
The variable overhead efficiency variance is (favorable,
unfavorable) because the actual hours used was
(more, less) than budgeted.
The fixed overhead cost variance is (favorable,
unfavorable) because Longman actually spent (less,
more) than budgeted for fixed overhead.
The fixed overhead volume variance is (favorable,
unfavorable) because Longman allocated (more,
less) overhead to jobs than the...
Standard machine hours per unit of output 4 hours Standard variable-overhead rate per machine hour 8.00 Actual variable-overhead rate per machine hour Actual machine hours per unit of output Budgeted fixed overhead |Actual fixed overhead Budgeted production in units Actual production in units Variable-overhead spending variance Variable-overhead efficiency variance Fixed-overhead budget variance Fixed-overhead volume variance Total actual overhead Total budgeted overhead (flexible budget) Total budgeted overhead (static budget) Total applied overhead 9.00 3 S 50,000 25,000 24,000 72,000 Unfavorable 192,000...
Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output $ 6.00 per direct-labor hour 2 hours per unit of output $144,000 24,000 units Actual results for April are as follows: 1 + Actual output Actual variable overhead Actual fixed overhead Actual direct labor 17,000 units $306,000 $141,000 50,000 hours Required: Use the variance formulas to compute the following variances. (Indicate the effect of each variance by...
10 Direct materials Standard per unit Actual $ 4 per pound Used 15 Materials quantity variance $ 3 2 pounds pounds Produced 10 finished units (AQ used - SQ allowed) SP A B C D 15 20 39 78 2 pt Variance is A favorable B unfavorable SQ allowed Standard per unit actual units 11 FACTORY OVERHEAD Machine Hours Budgeted $50 Standard allowed 16 Actual 180 Actual Variable factory overhead (activity base) rate per machine hour $10 Efficiency variance 10...
Alden Company uses a three-variance analysis for factory overhead variances. Practical capacity is defined as 26 setups and 26,000 machine hours to manufacture 6,500 units for the year. Selected data for 2019 follow Budgeted fixed factory overhead: $ 54,600 178,000 Setup cost Other $232,600 $481,000 Total factory overhead cost incurred Variable factory overhead rate: $ 400 $6.00 30,000 34,500 Per setup Per machine hour Total standard machine hours allowed for the units manufactured Machine hours actually worked Actual total number...
Alden Company uses a three-variance analysis for factory
overhead variances. Practical capacity is defined as 28 setups and
28,000 machine hours to manufacture 5,600 units for the year.
Selected data for 2019 follow:
Budgeted fixed factory overhead:
Setup cost
$
84,000
Other
186,000
$
270,000
Total factory overhead cost incurred
$
490,000
Variable factory overhead rate:
Per setup
$
850
Per machine hour
$
5.00
Total standard machine hours allowed for the units
manufactured
25,000
hours
Machine hours actually worked...
Alden Company uses a three-variance analysis for factory overhead variances. Practical capacity is defined as 32 setups and 32,000 machine hours to manufacture 6,400 units for the year. Selected data for 2019 follow: $ 102,400 174,000 $276,400 $496,000 Budgeted fixed factory overhead: Setup cost Other Total factory overhead cost incurred Variable factory overhead rate: Per setup Per machine hour Total standard machine hours allowed for the units manufactured Machine hours actually worked Actual total number of setups Actual number of...
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