Variable overhead price variance = (AQ*AP)-(AQ*SP)
-4000 = 110000-(AQ*2)
-4000=110000-2AQ
2AQ = 114000
AQ = 57000
Direct labor efficiency variance = (SP*AQ)-(SP*SQ)
140000=(20*57000)-(20*SQ)
140000=1140000-(20*SQ)
20SQ = 1000000
SQ = 50000
Part A
Variable overhead efficiency variance = SP*(AQ-SQ) = 2*(57000-50000) = $14000 U
Part B
Fixed overhead price variance = Actual fixed overhead – budgeted fixed overhead = 253000-(60000*4) = $13000 U
Part C
Fixed overhead production volume variance = budgeted fixed overhead – applied overhead = 240000-(50000*4) = $40000 U
The (partial) cost sheet for the single product manufactured at Vienna Company follows. Direct labor Variable...
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The (partial) cost sheet for the single product manufactured at Vienna Company follows. Direct labor (25 hours @ $25) $ 625 Variable overhead (25 hours @ $2) 50 Fixed overhead (25 hours @ $4) 100 The master budget level of production is 98,000 direct-labor hours, which is also the production volume used to compute the fixed overhead application rate. Other information available for operations over the past accounting period include the following. Actual variable overhead incurred $ 148,000 Actual fixed...
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The (partial) cost sheet for the single product manufactured at Vienna Company follows. Thanks in advance, show the steps please. The (partial) cost sheet for the single product manufactured at Vienna Company follows. Direct labor Variable overhead Fixed overhead (15 hours @ $25) (15 hours @ $2) (15 hours @ $4) $375 30 60 The master budget level of production is 78,000 direct-labor hours, which is also the production volume used to compute the fixed overhead application rate. Other information...
The (partial) cost sheet for the single product manufactured at Vienna Company follows. Direct labor(15 hours @ $25)$375 Variable overhead(15 hours @ $2) 30 Fixed overhead(15 hours @ $4) 60 The master budget level of production is 78,000 direct-labor hours, which is also the production volume used to compute the fixed overhead application rate. Other information available for operations over the past accounting period include the following. Actual variable overhead incurred $ 128,000 Actual fixed overhead incurred 326,800 Direct labor...
Please help me with part c, thanks in advance. The (partial) cost sheet for the single product manufactured at Vienna Company follows. Direct labor Variable overhead Fixed overhead (15 hours @ $25) (15 hours @ $2) (15 hours @ $4) $375 30 60 The master budget level of production is 78,000 direct-labor hours, which is also the production volume used to compute the fixed overhead application rate. Other information available for operations over the past accounting period include the following....
Exercise 16-47 (Algo) Overhead Variances (LO 16-5, 6)The (partial) cost sheet for the single product manufactured at Vienna Company follows. Direct labor(17 hours @ $25)$425Variable overhead(17 hours @ $2)34Fixed overhead(17 hours @ $4)68 The master budget level of production is 82,000 direct-labor hours, which is also the production volume used to compute the fixed overhead application rate. Other information available for operations over the past accounting period include the following. Actual variable overhead incurred$132,000Actual fixed overhead incurred343,200Direct labor efficiency variance162,000UVariable overhead price variance30,000F Required:a. What...
Please help to solve for part c, thanks a lot. The (partial) cost sheet for the single product manufactured at Vienna Company follows. Direct labor Variable overhead Fixed overhead (15 hours @ $25) (15 hours @ $2) (15 hours @ $4) $375 30 60 The master budget level of production is 78,000 direct-labor hours, which is also the production volume used to compute the fixed overhead application rate. Other information available for operations over the past accounting period include the...
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The standard cost sheet for Chambers Company, which manufactures one product, follows: $ 100 100 Direct materials, 40 yards at $2.50 per yard Direct labor, 4 hours at $25 per hour Factory overhead applied at 70% of direct labor (variable costs - $50; fixed costs $20) Variable selling and administrative Fixed selling and administrative Total unit costs Standards have been computed based on a master budget activity level of 28,900 direct labor hours per month. Actual activity for the past...