See the following information Budgeted FMOH &n
See the following information
Budgeted FMOH $200,000
Actual FMOH incurred $178,000
Planned output in units (denominator level) 80,000
Application base for cost pool = machine hours
Standard machine hours per unit of output 2 hr.
Actual output in units 60,000
Actual machine hours used 110,000
What is production volume variance?
Group of answer choices
$22,000F
$22,000U
$50,000U
$50,000F
Homework Answers
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Mendelssohn Manufacturing, Inc. uses a standard costing system with applied based on machine-hours (MHs). According to...
Mendelssohn Manufacturing, Inc. uses a standard costing system with applied based on machine-hours (MHs). According to their standards, cach requires 2 MHs. For the most recent period: Budgeted Units 1,600 units Actual Units 1,586 units Actual MHs 3,400 MHS & system with fixed manufacturing overhead (FMOH) cards, cach unit of their most popular product $ FMOH Budget Actual 44,800 $ 45,200 The FMOH volume variance for the period was closest to: $392.00 Unfavorable $400.00 Unfavorable $3,004.24 Unfavorable $2,800.00 Favorable None...
gndelssohn Manufacturing, Inc. uses a standard costing system with fixed manufacturing overhead (FMOH) applied based on...
gndelssohn Manufacturing, Inc. uses a standard costing system with fixed manufacturing overhead (FMOH) applied based on machine-hours (MHs). According to their standards, each unit of their most popular product requires 2 MHs For the most recent period: Budgeted Units Actual Units 1,600 units 1,586 units 3,400 MHs Actual MHs Budget Actual $ 45,200 FMOH $ 44,800 The FMOH volume variance for the period was closest to: $392.00 Unfavorable A. В. $400.00 Unfavorable $3,004.24 Unfavorable $2,800.00 Favorable C. D. Е. None...
Tyler Corp has the following budgeted sales for the first 4 months of nest year Cash sales Credit sales January $80...
Tyler Corp has the following budgeted sales for the first 4 months of nest year Cash sales Credit sales January $80,000 $350,000 $430,000 February $60,000 $200,000 $260,000 March $50,000 $145,000 $195,000 April $45,000 $130,000 $175,000 Total sales The Company is in the process of preparing a cash budget and must determine the expected cash collections Accoedingly, the following information has been assembled: Collections on credit sales: Month of sale Month after sale 2nd month after sale 60% 30% 10% The...
rporation applies manufacturing overhead to products on the basis of standard machine-hours. production are shown below:...
rporation applies manufacturing overhead to products on the basis of standard machine-hours. production are shown below: BudgetActual 778 3,900 720 Units produced Machine-hours 3,600 Variable MOH S 38,160 S39,800 or the month, the variable overhead efficiancy variance was closest to: 1,540 Favorable B. C. D. 3,180 Unfavorable 106 Unfavorable 102 Unfavorable E. None of the above. 20 Skie Inc produces a single product and uses a standard costing system applying manufacturing overhead based or allowed for actual output. At the...
17 Norwall Company's budgeted variable manufacturing overhead cost is $3.00 per machine hour and its budgeted...
17 Norwall Company's budgeted variable manufacturing overhead cost is $3.00 per machine hour and its budgeted fixed manufacturing overhead is $300,000 per month 0.72 points The following information is available for a recent month: a The denominator activity of 60,000 machine hours is used to compute the predetermined overhead rate. b. At a denominator activity of 60,000 machine hours, the company should produce 40,000 units of product c. The company's actual operating results were: Number of units produced Actual machine-hours...
Tyler Corp has the following budgeted sales for the first 4 moeths of next year Маrch...
Tyler Corp has the following budgeted sales for the first 4 moeths of next year Маrch $50,000 $145,000 $195,000 April $45,000 $130,000 $175,000 February S60,000 January $80,000 $350,000 $430,000 Cash sales Credit sales Total sales $200,000 $260,000 The Company is in the process of preparing a cash budget and must determine the expected cash collections. Accordingly, the following information has been assembled: Collections on credit sales Month of sale Month after sale 2nd month after sale 60% 30% 10% $155,000...
The following information for the past year is available from Thinnews Co., a company that uses...
The following information for the past year is available from Thinnews Co., a company that uses machine hours to apply standard factory overhead cost to outputs: Actual total factory overhead cost incurred $24,000 Actual fixed overhead cost incurred $10,000 Budgeted fixed overhead cost $11,000 Actual machine hours 5,000 Standard machine hours allowed for the units manufactured 4,800 Denominator volume—machine hours 5,500 Standard variable overhead rate per machine hour $3.00 1.) Under a three-variance breakdown (decomposition) of the total factory overhead...
saster bude Tyler Corp has the following budgeted sales for the first 4 months of next...
saster bude Tyler Corp has the following budgeted sales for the first 4 months of next year. January February March April Cash sales $80.000 560000 30000 $45.000 Credit sales $350,000 $200,000 $145.000 $130.000 Total sales $430,000 $260.000 $195.000 $175.000 The Company is in the process of preparing a cash budget andet determine the expected cash collections Accordingly, the following information has been assembled Collections on credit sales: Month of sale 60 Month after sale 30% 2nd month after sale The...
Norwall Company's budgeted variable manufacturing overhead cost iS $1.95 per machine-hour and its budgeted fixed manufacturing overhead is $51,336 per month. The following information is availabl...
Norwall Company's budgeted variable manufacturing overhead cost iS $1.95 per machine-hour and its budgeted fixed manufacturing overhead is $51,336 per month. The following information is available for a recent month: a. The denominator activity of 28,520 machine-hours is used to compute the predetermined overhead rate b. At a denominator activity of 28,520 machine-hours, the company should produce 12,400 units of product. C. The company's actual operating results were Number of units produced Actual machine-hours Actual variable manufacturing overhead cost Actual...
Which of the following statements is true? A single Variance clearing account is used to accumulate the individual var...
Which of the following statements is true?
A single Variance clearing account is used to accumulate the
individual variances.
Closing a favorable variance increases net operating income.
Closing a favorable variance decreases net operating income.
Closing an unfavorable variance increases net operating
income.
Knowledge Check 01 Lansing Inc.'s cost of goods sold at standard was $15,000. This represents the amount of cost of goods sold before considering the transaction that closes all variance accounts for the period. The company also...
Mendelssohn Manufacturing, Inc. uses a standard costing system with applied based on machine-hours (MHs). According to their standards, cach requires 2 MHs. For the most recent period: Budgeted Units 1,600 units Actual Units 1,586 units Actual MHs 3,400 MHS & system with fixed manufacturing overhead (FMOH) cards, cach unit of their most popular product $ FMOH Budget Actual 44,800 $ 45,200 The FMOH volume variance for the period was closest to: $392.00 Unfavorable $400.00 Unfavorable $3,004.24 Unfavorable $2,800.00 Favorable None...
gndelssohn Manufacturing, Inc. uses a standard costing system with fixed manufacturing overhead (FMOH) applied based on machine-hours (MHs). According to their standards, each unit of their most popular product requires 2 MHs For the most recent period: Budgeted Units Actual Units 1,600 units 1,586 units 3,400 MHs Actual MHs Budget Actual $ 45,200 FMOH $ 44,800 The FMOH volume variance for the period was closest to: $392.00 Unfavorable A. В. $400.00 Unfavorable $3,004.24 Unfavorable $2,800.00 Favorable C. D. Е. None...
Tyler Corp has the following budgeted sales for the first 4 months of nest year Cash sales Credit sales January $80,000 $350,000 $430,000 February $60,000 $200,000 $260,000 March $50,000 $145,000 $195,000 April $45,000 $130,000 $175,000 Total sales The Company is in the process of preparing a cash budget and must determine the expected cash collections Accoedingly, the following information has been assembled: Collections on credit sales: Month of sale Month after sale 2nd month after sale 60% 30% 10% The...
rporation applies manufacturing overhead to products on the basis of standard machine-hours. production are shown below: BudgetActual 778 3,900 720 Units produced Machine-hours 3,600 Variable MOH S 38,160 S39,800 or the month, the variable overhead efficiancy variance was closest to: 1,540 Favorable B. C. D. 3,180 Unfavorable 106 Unfavorable 102 Unfavorable E. None of the above. 20 Skie Inc produces a single product and uses a standard costing system applying manufacturing overhead based or allowed for actual output. At the...
17 Norwall Company's budgeted variable manufacturing overhead cost is $3.00 per machine hour and its budgeted fixed manufacturing overhead is $300,000 per month 0.72 points The following information is available for a recent month: a The denominator activity of 60,000 machine hours is used to compute the predetermined overhead rate. b. At a denominator activity of 60,000 machine hours, the company should produce 40,000 units of product c. The company's actual operating results were: Number of units produced Actual machine-hours...
Tyler Corp has the following budgeted sales for the first 4 moeths of next year Маrch $50,000 $145,000 $195,000 April $45,000 $130,000 $175,000 February S60,000 January $80,000 $350,000 $430,000 Cash sales Credit sales Total sales $200,000 $260,000 The Company is in the process of preparing a cash budget and must determine the expected cash collections. Accordingly, the following information has been assembled: Collections on credit sales Month of sale Month after sale 2nd month after sale 60% 30% 10% $155,000...
saster bude Tyler Corp has the following budgeted sales for the first 4 months of next year. January February March April Cash sales $80.000 560000 30000 $45.000 Credit sales $350,000 $200,000 $145.000 $130.000 Total sales $430,000 $260.000 $195.000 $175.000 The Company is in the process of preparing a cash budget andet determine the expected cash collections Accordingly, the following information has been assembled Collections on credit sales: Month of sale 60 Month after sale 30% 2nd month after sale The...
Norwall Company's budgeted variable manufacturing overhead cost iS $1.95 per machine-hour and its budgeted fixed manufacturing overhead is $51,336 per month. The following information is available for a recent month: a. The denominator activity of 28,520 machine-hours is used to compute the predetermined overhead rate b. At a denominator activity of 28,520 machine-hours, the company should produce 12,400 units of product. C. The company's actual operating results were Number of units produced Actual machine-hours Actual variable manufacturing overhead cost Actual...
Which of the following statements is true?
A single Variance clearing account is used to accumulate the
individual variances.
Closing a favorable variance increases net operating income.
Closing a favorable variance decreases net operating income.
Closing an unfavorable variance increases net operating
income.
Knowledge Check 01 Lansing Inc.'s cost of goods sold at standard was $15,000. This represents the amount of cost of goods sold before considering the transaction that closes all variance accounts for the period. The company also...
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