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EWWIELS Helir n Jj , Managerial Accounting, Fifth Canadian Edition Concordia: Managerial Accounting (COMM 305 Practice Assignment Gradebook ORION Downloadable eTextbook signment FULL SCREEN PRINTER VERSION 8A Question 20 Mercuri Company has gathered the following information: Variable manufacturing overhead costs $12,330 Fixed manufacturing overhead costs Normal production level in labour hours $9,360 9,000 Standard labour hours 9,400 During the year, 3,490 units were produced, 10,600 hours were worked, and the actual manufacturing overhead was $20,300. Actual fixed overhead totalled $9,430...
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Question 24 Rondell Company uses standard cost system. Indirect costs were budgeted at $190,800 plus $13 per direct labour hour. The overhead rate is based on 10,600 hours. Actual results were: Standard direct labour hours allowed Actual direct labour hours Fixed overhead Variable overhead 9,070 10,600 $179,000 $174,400 Calculate the fixed overhead production volume variance. Fixed overhead production volume variance Calculate the variable overhead spending variance. Variable overhead spending variance $ Calculate the variable overhead efficiency variance. Variable overhead efficiency...
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Waterways Continuing Problem 12
At the end of June the manager of the B.C. manufacturing plant
was provided with the following variance analysis report:
Budget
Actual
Variance
Favourable (F)/
Unfavourable (U)
Production in units
332,000
347,000
15,000
F
Production costs:
Direct material
$996,000
$1,017,940
$(21,940)
U
Direct labour
1,411,000
1,442,700
(31,700)
U
Variable overhead costs
166,000
172,957
(6,957)
U
Fixed overhead costs
174,300
168,620
5,680
F
Total production costs
$2,747,300
$2,802,217
$(54,917)
U
The manager immediately called the production supervisor,...
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Jay Levitt Company budgeted the following cost standards for
the current year:
Direct materials (2 kg of
plastic at $6 per kilogram)
$12.00
Direct labour (2 hours at $12
per hour)
24.00
Variable manufacturing
overhead
11.90
Fixed manufacturing
overhead
6.25
Total standard cost per
unit
$54.15
Actual costs for producing 2,740 units were as follows:
Direct materials used
5,560
kg
Direct materials purchased
(6,780 kg)
$40,002
Direct labour (6,880 hours)
$67,424
Variable manufacturing
costs
$32,600
Fixed manufacturing costs
$17,600
Your...
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Calculate the fixed overhead production volume variance.Fixed overhead production volume variance$ Neither favourable nor unfavourableUnfavourableFavourableCalculate the variable overhead spending variance.Variable overhead spending variance$ FavourableUnfavourableNeither favourable nor unfavourableCalculate the variable overhead efficiency variance.Variable overhead efficiency variance$ Neither favourable nor unfavourableFavourableUnfavourableCalculate the over- or underapplied overhead.
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STU Products uses standard costing. It allocates manufacturing overhead (both variable and fixed) to products on the basis of standard direct manufacturing labour-hours (DLH). STU Products develops its manufacturing overhead rate from the current annual budget. The manufacturing overhead budget for 2017 is based on budgeted output of 672,000 units, requiring 3,360,000 DLH. The company is able to schedule production uniformly throughout the year. A total of 72,000 output units requiring 321,000 DLH was produced during May 2017. Manufacturing overhead...
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11.25Overhead variances: manufacturer LO5] standard manufacturing overhead costs per switch are based on direct 1abour hours and are a& follows Bright Spark Ltd is a manufacturer of electrical switches, and uses a standard costing system. The Variable overhead (5 hours$12 per hour) Fixed overhead (5 hours@$18 per hour)* Total overhead $ 60 90 $150 Based on capacity 300000 irect labour hours per month The following information is available for the month of October: 56000 switches were produced, although 60000 switches...
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fill in the missing numbers
Consider the following data provided for each of the following independent cases. For each case assume that the business uses a standard cost system and a flexible budget to control variable and fixed manufacturing overhead, and applies manufacturing overhead on the basis of direct labour hours. Fill in the blanks for each case, and indicate whether the variances are favourable (F) or unfavourable (U). Phi Company Pho Company Number of labour hours budgeted $10,600 hrs...
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1) Stefani Company has gathered the following
information about its product.
Direct materials: Each unit of product contains 4.50
pounds of materials. The average waste and spoilage per unit
produced under normal conditions is 1.50 pounds. Materials cost $3
per pound, but Stefani always takes the 5.00% cash discount all of
its suppliers offer. Freight costs average $0.30 per pound.
Direct labor. Each unit requires 1.70 hours of labor.
Setup, cleanup, and downtime average 0.20 hours per unit. The
average...
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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...
EWWIELS Helir n Jj , Managerial Accounting, Fifth Canadian Edition Concordia: Managerial Accounting (COMM 305 Practice Assignment Gradebook ORION Downloadable eTextbook signment FULL SCREEN PRINTER VERSION 8A Question 20 Mercuri Company has gathered the following information: Variable manufacturing overhead costs $12,330 Fixed manufacturing overhead costs Normal production level in labour hours $9,360 9,000 Standard labour hours 9,400 During the year, 3,490 units were produced, 10,600 hours were worked, and the actual manufacturing overhead was $20,300. Actual fixed overhead totalled $9,430...
Question 24 Rondell Company uses standard cost system. Indirect costs were budgeted at $190,800 plus $13 per direct labour hour. The overhead rate is based on 10,600 hours. Actual results were: Standard direct labour hours allowed Actual direct labour hours Fixed overhead Variable overhead 9,070 10,600 $179,000 $174,400 Calculate the fixed overhead production volume variance. Fixed overhead production volume variance Calculate the variable overhead spending variance. Variable overhead spending variance $ Calculate the variable overhead efficiency variance. Variable overhead efficiency...
Waterways Continuing Problem 12
At the end of June the manager of the B.C. manufacturing plant
was provided with the following variance analysis report:
Budget
Actual
Variance
Favourable (F)/
Unfavourable (U)
Production in units
332,000
347,000
15,000
F
Production costs:
Direct material
$996,000
$1,017,940
$(21,940)
U
Direct labour
1,411,000
1,442,700
(31,700)
U
Variable overhead costs
166,000
172,957
(6,957)
U
Fixed overhead costs
174,300
168,620
5,680
F
Total production costs
$2,747,300
$2,802,217
$(54,917)
U
The manager immediately called the production supervisor,...
Jay Levitt Company budgeted the following cost standards for
the current year:
Direct materials (2 kg of
plastic at $6 per kilogram)
$12.00
Direct labour (2 hours at $12
per hour)
24.00
Variable manufacturing
overhead
11.90
Fixed manufacturing
overhead
6.25
Total standard cost per
unit
$54.15
Actual costs for producing 2,740 units were as follows:
Direct materials used
5,560
kg
Direct materials purchased
(6,780 kg)
$40,002
Direct labour (6,880 hours)
$67,424
Variable manufacturing
costs
$32,600
Fixed manufacturing costs
$17,600
Your...
STU Products uses standard costing. It allocates manufacturing overhead (both variable and fixed) to products on the basis of standard direct manufacturing labour-hours (DLH). STU Products develops its manufacturing overhead rate from the current annual budget. The manufacturing overhead budget for 2017 is based on budgeted output of 672,000 units, requiring 3,360,000 DLH. The company is able to schedule production uniformly throughout the year. A total of 72,000 output units requiring 321,000 DLH was produced during May 2017. Manufacturing overhead...
11.25Overhead variances: manufacturer LO5] standard manufacturing overhead costs per switch are based on direct 1abour hours and are a& follows Bright Spark Ltd is a manufacturer of electrical switches, and uses a standard costing system. The Variable overhead (5 hours$12 per hour) Fixed overhead (5 hours@$18 per hour)* Total overhead $ 60 90 $150 Based on capacity 300000 irect labour hours per month The following information is available for the month of October: 56000 switches were produced, although 60000 switches...
fill in the missing numbers
Consider the following data provided for each of the following independent cases. For each case assume that the business uses a standard cost system and a flexible budget to control variable and fixed manufacturing overhead, and applies manufacturing overhead on the basis of direct labour hours. Fill in the blanks for each case, and indicate whether the variances are favourable (F) or unfavourable (U). Phi Company Pho Company Number of labour hours budgeted $10,600 hrs...