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6-21 Variable overhead variance calculation (LO6) The following information is available for Harrison's Hot Dogs: Actual...
Your answer is partially correct. Try again. The following information is available for Bonita's Hot Dogs:...
Your answer is partially correct. Try again. The following information is available for Bonita's Hot Dogs: Actual production Budgeted production Standard direct labor hours Actual direct labor hours Standard variable overhead rate Actual variable overhead costs 11,940 packages 12,500 packages 1.61 direct labor hours per package 20,237 $2 per direct labor hour $33,334 Calculate the variable overhead spending and efficiency variances. (Round answers to 0 decimal places, e.g. 125. If variance is zero, select "Not Applicable" and enter o for...
Exercise 6-21 Your answer is partially correct. Try again. The following information is available for Swifty's...
Exercise 6-21 Your answer is partially correct. Try again. The following information is available for Swifty's Hot Dogs: Actual production Budgeted production Standard direct labor hours Actual direct labor hours Standard variable overhead rate Actual variable overhead costs 11,620 packages 12,500 packages 1.52 direct labor hours per package 18,731 $3 per direct labor hour $47,743 Calculate the variable overhead spending and efficiency variances. (Round answers to 0 decimal places, e.g. 125. If variance is zero, select "Not Applicable" and enter...
Based on the following information below: 1. Calculate the direct materials price and quantity variance. Please...
Based on the following information below:
1. Calculate the direct materials price and quantity variance.
Please note that the materials price variance is based on actual
material purchased and the quantity variance is based on material
used.
2. Calculate the direct labor rate and efficiency variances.
3. Calculate the variable overhead spending and efficiency
variances.
4. Calculate the fixed overhead budget variance.
Gourmet, Inc. prDduces containers of frozen food Duing October the company had the following actual production and costs...
Overhead Application, Fixed and Variable Overhead Variances Zepol Company is planning to produce 600,000 power drills...
Overhead Application, Fixed and Variable Overhead Variances Zepol Company is planning to produce 600,000 power drills for the coming year. The company uses direct labor hours to assign overhead to products. Each drill requires 0.75 standard hour of labor for completion. The total budgeted overhead was $1,777,500. The total fixed overhead budgeted for the coming year is $832,500. Predetermined overhead rates are calculated using expected production, measured in direct labor hours. Actual results for the year are: Actual production (units)...
Choose the correct bolded choices to complete the sentences. The variable overhead cost variance is (favorable,...
Choose the correct bolded choices to complete the
sentences.
The variable overhead cost variance is (favorable,
unfavorable) because Longman actually spent (less,
more) than budgeted.
The variable overhead efficiency variance is (favorable,
unfavorable) because the actual hours used was
(more, less) than budgeted.
The fixed overhead cost variance is (favorable,
unfavorable) because Longman actually spent (less,
more) than budgeted for fixed overhead.
The fixed overhead volume variance is (favorable,
unfavorable) because Longman allocated (more,
less) overhead to jobs than the...
2. Compute the fixed overhead spendllg Exercise 10-59 Overhead Application, Fixed and Variable Ov...
2. Compute the fixed overhead spendllg Exercise 10-59 Overhead Application, Fixed and Variable Ove Zspol Company is planning to produce 600,000 power drills for the coming vo .Computt uit Overhead Variance coming year. The compan 0.75 standard hou uses direct labor hours to assign overhead to products. Each drill requi of labor for completion. The total budgeted overhead was $1,777,500. The budgeted for the coming year is $832,500. Predetermined overhead ra expected production, measured in direct labor hours. Actual results...
please full calculation and explanation. Containers, Inc. produced 62,500 and sold 59,000 plastic microcomputer cases at...
please full calculation and explanation.
Containers, Inc. produced 62,500 and sold 59,000 plastic microcomputer cases at a selling price of 510.00 each. Manufacturing overhead is allocated on the basis of machine hours. The standard variable costs per computer case were: Quantity 1.5 kg Total Rate Direct Materials Direct Labour Variable Overhead $1.20 per kg $15.00 per hour $6.00 per hour $1.80 0.50 labour hours 7,50 0.20 machine hours 1.20 Information regarding fixed overhead includes the following: Budgeted Fixed Overhead: $337,500...
Variable Overhead Spending and Efficiency Variances, Columnar and Formula Approaches Aretha Company provided the following information:...
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...
Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate Standard quantity of...
Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output $ 6.00 per direct-labor hour 2 hours per unit of output $144,000 24,000 units Actual results for April are as follows: 1 + Actual output Actual variable overhead Actual fixed overhead Actual direct labor 17,000 units $306,000 $141,000 50,000 hours Required: Use the variance formulas to compute the following variances. (Indicate the effect of each variance by...
Based on the following information below: 1.Calculate the direct materials price and quantity variance. 2. Calculate...
Based on the following information below:
1.Calculate the direct materials price and quantity
variance.
2. Calculate the direct labor rate and efficiency variances.
3. Calculate the variable overhead spending and efficiency
variances.
4. Calculate the fixed overhead budget variance.
5. Pick out the two variances that you computed above that you
think should be further investigated. Explain why you picked these
2 variances and what might be the possible cause of the
variances.
Gourmet, Inc. produces containers of frozen food...
Your answer is partially correct. Try again. The following information is available for Bonita's Hot Dogs: Actual production Budgeted production Standard direct labor hours Actual direct labor hours Standard variable overhead rate Actual variable overhead costs 11,940 packages 12,500 packages 1.61 direct labor hours per package 20,237 $2 per direct labor hour $33,334 Calculate the variable overhead spending and efficiency variances. (Round answers to 0 decimal places, e.g. 125. If variance is zero, select "Not Applicable" and enter o for...
Exercise 6-21 Your answer is partially correct. Try again. The following information is available for Swifty's Hot Dogs: Actual production Budgeted production Standard direct labor hours Actual direct labor hours Standard variable overhead rate Actual variable overhead costs 11,620 packages 12,500 packages 1.52 direct labor hours per package 18,731 $3 per direct labor hour $47,743 Calculate the variable overhead spending and efficiency variances. (Round answers to 0 decimal places, e.g. 125. If variance is zero, select "Not Applicable" and enter...
Based on the following information below:
1. Calculate the direct materials price and quantity variance.
Please note that the materials price variance is based on actual
material purchased and the quantity variance is based on material
used.
2. Calculate the direct labor rate and efficiency variances.
3. Calculate the variable overhead spending and efficiency
variances.
4. Calculate the fixed overhead budget variance.
Gourmet, Inc. prDduces containers of frozen food Duing October the company had the following actual production and costs...
Overhead Application, Fixed and Variable Overhead Variances Zepol Company is planning to produce 600,000 power drills for the coming year. The company uses direct labor hours to assign overhead to products. Each drill requires 0.75 standard hour of labor for completion. The total budgeted overhead was $1,777,500. The total fixed overhead budgeted for the coming year is $832,500. Predetermined overhead rates are calculated using expected production, measured in direct labor hours. Actual results for the year are: Actual production (units)...
Choose the correct bolded choices to complete the
sentences.
The variable overhead cost variance is (favorable,
unfavorable) because Longman actually spent (less,
more) than budgeted.
The variable overhead efficiency variance is (favorable,
unfavorable) because the actual hours used was
(more, less) than budgeted.
The fixed overhead cost variance is (favorable,
unfavorable) because Longman actually spent (less,
more) than budgeted for fixed overhead.
The fixed overhead volume variance is (favorable,
unfavorable) because Longman allocated (more,
less) overhead to jobs than the...
2. Compute the fixed overhead spendllg Exercise 10-59 Overhead Application, Fixed and Variable Ove Zspol Company is planning to produce 600,000 power drills for the coming vo .Computt uit Overhead Variance coming year. The compan 0.75 standard hou uses direct labor hours to assign overhead to products. Each drill requi of labor for completion. The total budgeted overhead was $1,777,500. The budgeted for the coming year is $832,500. Predetermined overhead ra expected production, measured in direct labor hours. Actual results...
please full calculation and explanation.
Containers, Inc. produced 62,500 and sold 59,000 plastic microcomputer cases at a selling price of 510.00 each. Manufacturing overhead is allocated on the basis of machine hours. The standard variable costs per computer case were: Quantity 1.5 kg Total Rate Direct Materials Direct Labour Variable Overhead $1.20 per kg $15.00 per hour $6.00 per hour $1.80 0.50 labour hours 7,50 0.20 machine hours 1.20 Information regarding fixed overhead includes the following: Budgeted Fixed Overhead: $337,500...
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...
Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output $ 6.00 per direct-labor hour 2 hours per unit of output $144,000 24,000 units Actual results for April are as follows: 1 + Actual output Actual variable overhead Actual fixed overhead Actual direct labor 17,000 units $306,000 $141,000 50,000 hours Required: Use the variance formulas to compute the following variances. (Indicate the effect of each variance by...
Based on the following information below:
1.Calculate the direct materials price and quantity
variance.
2. Calculate the direct labor rate and efficiency variances.
3. Calculate the variable overhead spending and efficiency
variances.
4. Calculate the fixed overhead budget variance.
5. Pick out the two variances that you computed above that you
think should be further investigated. Explain why you picked these
2 variances and what might be the possible cause of the
variances.
Gourmet, Inc. produces containers of frozen food...
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