Homework Answers
| Answer: |
|
Variable Overhead Spending
Variance = Standard Cost (-) Actual Cost = (20,237 x $ 4) (-) $ 33,334 = $ 40,474 (-) $ 33,334 = $ 7,140 Favourable |
| Variable Overhead Spending Variance = $ 7,140 Favourable |
| or |
|
Variable Overhead Spending
Variance = Standard Cost (-) Actual Cost = (11,940 x 1.61 x $ 2) (-) $ 33,334 = $ 38,446.8 (-) $ 33,334 = $ 5,112.8 Favourable |
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Your answer is partially correct. Try again. The following information is available for Bonita's Hot Dogs:...
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...
6-21 Variable overhead variance calculation (LO6) The following information is available for Harrison's Hot Dogs: Actual...
6-21 Variable overhead variance calculation (LO6) The following information is available for Harrison's Hot Dogs: Actual production 12,320 packages Budgeted production 12,500 packages Standard direct labor hours 1.5 direct labor hours per package Actual direct labor hours 19,500 Standard variable overhead rate $3 per direct labor hour Actual variable overhead costs $50,000 Required Calculate the variable overhead spending and efficiency variances.
PrOblem -A Your answer is partially correct. Try again Rogen Corporation manufactures a single product. The...
PrOblem -A Your answer is partially correct. Try again Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below Direct materials-1 pound plastic at $6 per pound Direct labor-0.50 hours at $12.35 per hour Variable manufacturing overhead Fixed manufacturing overhead 6.00 6.18 3.25 3.75 $19.18 Total standard cost per unit The predetermined manufacturing overhead rate is $14 per direct labor hour ($7.00 ÷ 0.50). It was computed from a master manufacturing overhead budget based...
Problem 24-03A a-b Your answer is partially correct. Try again Rudd Clothiers is a small company...
Problem 24-03A a-b Your answer is partially correct. Try again Rudd Clothiers is a small company that manufactures tallmen's suits. The company has used a standard cost accounting system. In May 2020, 10,200 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 16,500 direct labor hours. All materials purchased were used. Cost Element Direct materials Direct labor Overhead Standard (per unit) 10 yards at $4.90 per yard 1.10 hours...
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...
Exercise 23-8 Your answer is partially correct. Try again. The following direct materials and direct labor...
Exercise 23-8 Your answer is partially correct. Try again. The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Actual labor rate Actual materials price Standard labor rate Standard materials price $13 per hour $220 per ton $12.50 per hour $224 per ton Quantities Actual hours incurred and used Actual quantity of materials purchased and used Standard hours used Standard quantity of materials used 4,200 hours 1,600 tons 4,280...
1. Garnet Developers Inc., a manufacturing company, provides the following data: Standard variable overhead rate (SVOR)...
1. Garnet Developers Inc., a manufacturing company, provides the following data: Standard variable overhead rate (SVOR) $4 per direct labor hour Actual variable overhead costs (AH) $900 Standard hours allowed per unit 0.20 hours Actual direct labor hours worked (AH) 120 hours Actual production 1,200 units What is the total variable overhead variance? $60 (unfavorable) $60 (favorable) $15 (unfavorable) $15 (favorable) 2. What is the equation to calculate variable overhead spending variance? Variable Overhead Spending Variance = Actual Variable Overhead...
12) Simmons Company has the following information available for variable overhead costs. Direct labor hours are...
12) Simmons Company has the following information available for variable overhead costs. Direct labor hours are the cost driver for variable overhead costs. Actual variable overhead costs Standard variable overhead costs Actual direct labor hours Standard direct labor hours per unit Units produced $4,700 $1.20 per hour 3,750 hours 5 hours 700 What is the variable overhead spending variance? A) $200 Favorable C) $500 Favorable B) $500 Unfavorable D) $200 Unfavorable
13) Dooley Company has the following information available for variable overhead costs. Direct labor hours are...
13) Dooley Company has the following information available for variable overhead costs. Direct labor hours are the cost driver for variable overhead costs, Actual variable overhead costs Standard variable overhead costs Actual direct labor hours Standard direct labor hours per unit Units produced $4,700 $1.20 per hour 3,750 hours 5 hours 700 What is the variable overhead efficiency variance? A) $500 Favorable C) $300 Unfavorable B) $300 Favorable D) $500 Unfavorable
Required information Use the following information for the Quick Study below. (The following information applies to...
Required information Use the following information for the Quick Study below. (The following information applies to the questions displayed below) Mosaic Company applies overhead using machine hours and reports the following information. Actual machine hours used (AH) 4,800 hours Standard machine hours (for actual production) 5.250 hours (SH) Actual variable overhead rate per hour (AVR) $ 4.90 Standard variable overhead rate per hour (SVR) $ 4.75 QS 21-18A Total variable overhead cost variance LO P5 Compute the total variable overhead...
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...
6-21 Variable overhead variance calculation (LO6) The following information is available for Harrison's Hot Dogs: Actual production 12,320 packages Budgeted production 12,500 packages Standard direct labor hours 1.5 direct labor hours per package Actual direct labor hours 19,500 Standard variable overhead rate $3 per direct labor hour Actual variable overhead costs $50,000 Required Calculate the variable overhead spending and efficiency variances.
PrOblem -A Your answer is partially correct. Try again Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below Direct materials-1 pound plastic at $6 per pound Direct labor-0.50 hours at $12.35 per hour Variable manufacturing overhead Fixed manufacturing overhead 6.00 6.18 3.25 3.75 $19.18 Total standard cost per unit The predetermined manufacturing overhead rate is $14 per direct labor hour ($7.00 ÷ 0.50). It was computed from a master manufacturing overhead budget based...
Problem 24-03A a-b Your answer is partially correct. Try again Rudd Clothiers is a small company that manufactures tallmen's suits. The company has used a standard cost accounting system. In May 2020, 10,200 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 16,500 direct labor hours. All materials purchased were used. Cost Element Direct materials Direct labor Overhead Standard (per unit) 10 yards at $4.90 per yard 1.10 hours...
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...
Exercise 23-8 Your answer is partially correct. Try again. The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Actual labor rate Actual materials price Standard labor rate Standard materials price $13 per hour $220 per ton $12.50 per hour $224 per ton Quantities Actual hours incurred and used Actual quantity of materials purchased and used Standard hours used Standard quantity of materials used 4,200 hours 1,600 tons 4,280...
12) Simmons Company has the following information available for variable overhead costs. Direct labor hours are the cost driver for variable overhead costs. Actual variable overhead costs Standard variable overhead costs Actual direct labor hours Standard direct labor hours per unit Units produced $4,700 $1.20 per hour 3,750 hours 5 hours 700 What is the variable overhead spending variance? A) $200 Favorable C) $500 Favorable B) $500 Unfavorable D) $200 Unfavorable
13) Dooley Company has the following information available for variable overhead costs. Direct labor hours are the cost driver for variable overhead costs, Actual variable overhead costs Standard variable overhead costs Actual direct labor hours Standard direct labor hours per unit Units produced $4,700 $1.20 per hour 3,750 hours 5 hours 700 What is the variable overhead efficiency variance? A) $500 Favorable C) $300 Unfavorable B) $300 Favorable D) $500 Unfavorable
Required information Use the following information for the Quick Study below. (The following information applies to the questions displayed below) Mosaic Company applies overhead using machine hours and reports the following information. Actual machine hours used (AH) 4,800 hours Standard machine hours (for actual production) 5.250 hours (SH) Actual variable overhead rate per hour (AVR) $ 4.90 Standard variable overhead rate per hour (SVR) $ 4.75 QS 21-18A Total variable overhead cost variance LO P5 Compute the total variable overhead...
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