Homework Answers
| Actual Results | Spending Variances | Flexible Budget | Volume Variances | Planning Budget | |
| Activity Level | 25,000 units | 25,000 units | 30,000 units | ||
| Variable Overhead | $ 120,000 | $ 45,000 U | $ 75,000 | $ 15,000 F | $ 90,000 |
| Fixed Overhead | 300,000 | 60,000 F | 360,000 | 0 | 360,000 |
| Totals | $ 420,000 | $ 15,000 F | $ 435,000 | $ 15,000 F | $ 450,000 |
Overhead spending variance : $ 15,000 F
Overhead volume variance: $ 15,000 F
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From the following information for Alfred Industries, compute the overhead spending variance and the volume variance....
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...
The following information was taken from the annual manufacturing overhead cost budget of Waterway Industries. Variable...
The following information was taken from the annual manufacturing overhead cost budget of Waterway Industries. Variable manufacturing overhead costs $52800 Fixed manufacturing overhead costs $26400 Normal production level in labor hours 22000 Normal production level in units 5500 Standard labor hours per unit 4 During the year, 5325 units were produced, 17240 hours were worked, and the actual manufacturing overhead was $78600. Actual fixed manufacturing overhead costs equaled budgeted fixed manufacturing overhead costs. Overhead is applied on the basis of...
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...
Variances Spending Efficiency Volume Variable manufacturing overhead $7,800 F $30,000 U (B) Fixed manufacturing overhead $27,900...
Variances Spending Efficiency Volume Variable manufacturing overhead $7,800 F $30,000 U (B) Fixed manufacturing overhead $27,900 U (A) $90,000 U The total production−volume variance should be ________. A. $117,900 F B. $117,900 U C. $90,000 U D. $90,000 F
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 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...
Exercise 21-21 Overhead controllable and volume variances; overhead variance report LO P4 James Corp. applies overhead...
Exercise 21-21 Overhead controllable and volume variances; overhead variance report LO P4 James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following overhead budget: Operating Levels 80% 10,000 25,000 Overhead Budget Production in units Standard direct labor hours Budgeted overhead Variable overhead costs Indirect materials Indirect labor Power Maintenance Total variable costs Fixed overhead costs...
[The following information applies to the questions displayed below.) The Platter Valley factory of Bybee Industries...
[The following information applies to the questions displayed below.) The Platter Valley factory of Bybee Industries manufactures field boots. The cost of each boot includes direct materials, direct labor, and manufacturing (factory) overhead. The firm traces all direct costs to products, and it assigns overhead cost to products based on direct labor hours. The company budgeted $15,000 variable factory overhead cost and 2,500 direct labor hours to manufacture 5,000 pairs of boots in March. The factory used 2,700 direct labor...
1. Variable overhead spending? 2. Variable overhead efficiency variance? 3. Total variable overhead variance? 4. Fixed...
1. Variable overhead spending?
2. Variable overhead efficiency variance?
3. Total variable overhead variance?
4. Fixed overhead spending variance?
5. Fixed overhead volume variance?
6. Total fixed overhead variance?
Montreal Inc. manufactures garden hoses for large stores. The standard costs for a dozen garden hoses are as follows: Direct materials Direct labour 24 m x $2 per metre = $48.00 3.40 hours x $12 per hour = $40.80 During February, Montreal Inc. worked on three separate orders of garden hoses....
May I have help finding the variable spending variance, fixed overhead volume variance, and fixed overhead...
May I have help finding the variable spending variance, fixed
overhead volume variance, and fixed overhead spending variance? I
am confused as to what to multiply and divide by...
QUESTION 1 1 points Save Answer H.D. Samuelson Inc. 2015 Production Budget Budgeted production: 5,000 units (5,000 kits @ $13.00/kit) (5,000 hrs. @ $13.00/hr.) Materials Direct Labor Fixed overhead costs Variable overhead costs $65,000 $65,000 $650,000 $700,000 Note: Both fixed and variable overhead allocation are based on labor hours H.D. Samuelson...
The following information relates to Watson, Inc.'s overhead costs for the month: E: (Click the icon...
The following information relates to Watson, Inc.'s overhead costs for the month: E: (Click the icon to view the information.) Requirements 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. 2. Explain why the variances are favorable or unfavorable. Requirement 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume...
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...
Exercise 21-21 Overhead controllable and volume variances; overhead variance report LO P4 James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following overhead budget: Operating Levels 80% 10,000 25,000 Overhead Budget Production in units Standard direct labor hours Budgeted overhead Variable overhead costs Indirect materials Indirect labor Power Maintenance Total variable costs Fixed overhead costs...
[The following information applies to the questions displayed below.) The Platter Valley factory of Bybee Industries manufactures field boots. The cost of each boot includes direct materials, direct labor, and manufacturing (factory) overhead. The firm traces all direct costs to products, and it assigns overhead cost to products based on direct labor hours. The company budgeted $15,000 variable factory overhead cost and 2,500 direct labor hours to manufacture 5,000 pairs of boots in March. The factory used 2,700 direct labor...
1. Variable overhead spending?
2. Variable overhead efficiency variance?
3. Total variable overhead variance?
4. Fixed overhead spending variance?
5. Fixed overhead volume variance?
6. Total fixed overhead variance?
Montreal Inc. manufactures garden hoses for large stores. The standard costs for a dozen garden hoses are as follows: Direct materials Direct labour 24 m x $2 per metre = $48.00 3.40 hours x $12 per hour = $40.80 During February, Montreal Inc. worked on three separate orders of garden hoses....
May I have help finding the variable spending variance, fixed
overhead volume variance, and fixed overhead spending variance? I
am confused as to what to multiply and divide by...
QUESTION 1 1 points Save Answer H.D. Samuelson Inc. 2015 Production Budget Budgeted production: 5,000 units (5,000 kits @ $13.00/kit) (5,000 hrs. @ $13.00/hr.) Materials Direct Labor Fixed overhead costs Variable overhead costs $65,000 $65,000 $650,000 $700,000 Note: Both fixed and variable overhead allocation are based on labor hours H.D. Samuelson...
The following information relates to Watson, Inc.'s overhead costs for the month: E: (Click the icon to view the information.) Requirements 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. 2. Explain why the variances are favorable or unfavorable. Requirement 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume...
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