Variable overhead spending variance
= Standard voh cost - Actual voh cost
= (700*5*1.20) - 4,700
= 4200 - 4700
= 500 Unfavorable
12) Simmons Company has the following information available for variable overhead costs. Direct labor hours are...
13) Dooley Company has the following information available for variable overhead costs. Direct labor hours are the cost driver for variable overhead costs, Actual variable overhead costs Standard variable overhead costs Actual direct labor hours Standard direct labor hours per unit Units produced $4,700 $1.20 per hour 3,750 hours 5 hours 700 What is the variable overhead efficiency variance? A) $500 Favorable C) $300 Unfavorable B) $300 Favorable D) $500 Unfavorable
14) Switsdorf Company has the following information available for variable overhead costs. Direct labor hours are the cost driver for variable overhead costs. Actual variable overhead costs Standard variable overhead costs Actual direct labor hours Standard direct labor hours per unit Units produced $5,120 $3.00 per hour 2,000 hours 3 hours 1,000 What is the variable overhead efficiency variance? A) $2,000 Favorable C) $1,000 Favorable B) $3,000 Favorable D) $2,000 Unfavorable
Prado Company applies fixed manufacturing overhead costs to products based on direct labor hours. Information for the month of April appears below. Prado's expected to produce and sell 500 units for the month. Budgeted fixed overhead costs $240,000 Budgeted direct labor hours ÷ 12,000 Standard cost per direct labor hour $ 20 Standard direct labor hours per unit 18 Actual production 520 units Actual fixed overhead costs $210,000 Required: Calculate the fixed overhead spending variance and production volume variance. Clearly...
Willow Inc. has provided the following information: Standards: Direct materials Direct labor Variable overhead Fixed overhead Total Per unit 10 lbs @ $2.90/lb $ 29.00 2 hours @ $17.50/hour 35.00 2 hours @ $11/hour 22.00 25.00 $111.00 Budgeted production = 7,300 units 75,050 lbs 14,100 actual hours Actual results Materials Direct labor Variable overhead Fixed overhead Units produced $216,015 $236,815 $ 161,570 $179,860 7,500 units a. Calculate the direct materials price variance. (Do not round your intermediate calculations. Indicate the...
Units produced = 120,000; Standard Direct labor hours per Unit = 0.35; Standard variable overhead rate per direct labor hour = $4; Actual variable overhead costs = $105,000; Actual hours worked = 30,000. Calculate variable overhead spending variance and variable overhead efficiency variance
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...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities $1.20 0.80 0.40 Fixed overhead costs per month are Supervision $3,500, Depreciation $1,300, and Property Taxes $700. The company believes it will normally operate in a range of 5.500-8.500 direct labor hours per month Assume that in July 2020. Myers Company incurs the following manufacturing overhead costs. Fixed Costs Variable...
Total Variable Overhead Variance Rath Company showed the following information for the year: Standard variable overhead rate (SVOR) per direct labor hour $3.75 Standard hours (SH) allowed per unit 4 Actual production in units 15,000 Actual variable overhead costs $222,816 57,200 Actual direct labor hours Required: 1. Calculate the standard direct labor hours for actual production. hours 2. Calculate the applied variable overhead. 3. Calculate the total variable overhead variance. Enter amount as a positive number and select Favorable or...
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...
Direct Materials, Direct Labor, and Reports budgeted and actual costs for variable and fixed factory overhead along with the related controllable and volume variances.Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. A detailed estimate of what a product should cost.Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 70,000 units of product were as follows: Standard Costs Actual Costs Direct materials 189,000 lbs. at $6.00 187,100...