Homework Answers
Answer -
Q.1 Answer -
When budgeted and actual result are not same there is budget variance or difference.
Budget variance = Budgeted result - Actual result
The difference between the budgeted result and the actual result in the report is referred to as the budget variance. A budget variance can also be displayed in a percentage format.
Q.2 Answer -
A) $2000 favorable
Calculation:
Budgeted variable manufacturing overhead per unit at normal capacity = $64000 / 8000 units = $8
Now,
Variable manufacturing overhead for actual units produced at budgeted variable cost per unit = $8 * 9000 units = $72000
So,
Budgeted manufacturing overhead for 9000 units = Variable overhead + Fixed overhead
Budgeted manufacturing overhead for 9000 units = $72000 + $180000
Budgeted manufacturing overhead for 9000 units = $252000
And
Actual manufacturing overhead for 9000 units = $250000 (as per given information)
So,
Budget variance = Budgeted manufacturing overhead for 9000 units - Actual manufacturing overhead for 9000 units
Budget variance = $252000 - $250000
Budget variance = $2000 favorable
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Question 3 (2 points) When budgeted and actual results are not the same amount, there is...
Question 1 (1 point) Sydney, Inc. uses flexible budgets. At normal capacity of 16,000 units, budgeted...
Question 1 (1 point) Sydney, Inc. uses flexible budgets. At normal capacity of 16,000 units, budgeted manufacturing overhead is $128,000 variable and $360,000 fixed. If Sydney had actual overhead costs of $500,000 for 18,000 units produced, what is the difference between actual and budgeted costs? a) $16,000 favorable b) $4,000 unfavorable c) $12,000 unfavorable TY d) $4,000 favorable
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a)The total overhead variance in 2019 for Bluecap Co., to the nearest whole dollar, was: Multiple...
a)The total overhead variance in
2019 for Bluecap Co., to the nearest whole dollar, was:
Multiple Choice
$14,000 unfavorable.
$15,040 favorable.
$17,280 favorable.
$37,840 favorable.
$37,840 unfavorable.
b.The fixed overhead production volume variance for
Bluecap Co. in 2019, to the nearest dollar, was:
Multiple Choice
$11,280 favorable.
$17,280 favorable.
$28,800 unfavorable.
$34,800 unfavorable.
$51,840 favorable.
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Waterways Corporation is continuing its budget preparations. Waterways had the following static budget and actual overhead...
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Waterways Corporation is continuing its budget preparations. Waterways had the following static budget and actual overhead...
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The total factory overhead spending variance in 2019 (to the nearest whole dollar), based on a...
The total factory overhead spending
variance in 2019 (to the nearest whole dollar), based on a
three-variance breakdown (decomposition) of the total overhead
variance for Bluecap Co., was:
Multiple Choice
$3,200 favorable.
$11,440 unfavorable.
$15,040 favorable.
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$17,440 unfavorable.
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Required 2 Required 1 Required 3 Compute the overhead volume variance. Classify as favorable or unfavorable....
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a)The total overhead variance in
2019 for Bluecap Co., to the nearest whole dollar, was:
Multiple Choice
$14,000 unfavorable.
$15,040 favorable.
$17,280 favorable.
$37,840 favorable.
$37,840 unfavorable.
b.The fixed overhead production volume variance for
Bluecap Co. in 2019, to the nearest dollar, was:
Multiple Choice
$11,280 favorable.
$17,280 favorable.
$28,800 unfavorable.
$34,800 unfavorable.
$51,840 favorable.
Bluecap Co. uses a standard cost system and flexible budgets for control purposes. The following budgeted information pertains to 2019: Denominator volume-number of units Denominator...
Waterways Corporation is continuing its budget preparations. Waterways had the following static budget and actual overhead costs for March. WATERWAYS CORPORATION Manufacturing Overhead Budget (Static) For the Month of March Budgeted production in units 114,000 Budgeted costs Indirect materials $5.700 Indirect labor 13.680 Utilities 11.400 Maintenance 6,840 Salaries 45,500 Depreciation 15.900 Property taxes 3.000 Insurance 1,100 Janitorial 1.700 Total budgeted costs $104.820 WATERWAYS CORPORATION Manufacturing Overhead Costs (Actual) For the Month of March Production in units 115.000 Costs Indirect materials...
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The total factory overhead spending
variance in 2019 (to the nearest whole dollar), based on a
three-variance breakdown (decomposition) of the total overhead
variance for Bluecap Co., was:
Multiple Choice
$3,200 favorable.
$11,440 unfavorable.
$15,040 favorable.
$17,280 favorable.
$17,440 unfavorable.
Bluecap Co. uses a standard cost system and flexible budgets for control purposes. The following budgeted information pertains to 2019: Denominator volume-number of units Denominator volume-percent of capacity Denominator volume-standard direct labor hours (DLHS) Budgeted variable factory overhead cost at...
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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...
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