Homework Answers
Variable overhead rate variance = (Standard rate-actual rate)actual hours
15000 = (18*12000-12000X)
12000X = 216000-15000
X(actual rate) = 16.75 per hour
Actual overhead = 16.75*12000 = 201000
So answer is a) $201000
Add Answer to:
Use the following information to answer questions 9 and 10: Custom Banners manufactures advertising banners Custom...
Lancelot Corporation manufactures tennis gear and uses budgeted machine - hours to allocate variable manufacturing over...
Lancelot Corporation manufactures tennis gear and uses budgeted machine - hours to allocate variable manufacturing overhead. The following information relates to the company's manufacturing overhead data: Budgeted output units Budgeted machine - hours Budgeted variable manufacturing overhead costs for 3,000 units 3,000 units 15,000 hours $172,500 Actual output units produced Actual machine - hours used Actual variable manufacturing overhead costs 3,250 units 14,500 hours $230,000 What is the flexible - budget variance for variable manufacturing overhead? O A. $43,125 favorable...
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...
Standard machine hours per unit of output 4 hours Standard variable-overhead rate per machine hour 8.00...
Standard machine hours per unit of output 4 hours Standard variable-overhead rate per machine hour 8.00 Actual variable-overhead rate per machine hour Actual machine hours per unit of output Budgeted fixed overhead |Actual fixed overhead Budgeted production in units Actual production in units Variable-overhead spending variance Variable-overhead efficiency variance Fixed-overhead budget variance Fixed-overhead volume variance Total actual overhead Total budgeted overhead (flexible budget) Total budgeted overhead (static budget) Total applied overhead 9.00 3 S 50,000 25,000 24,000 72,000 Unfavorable 192,000...
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...
Riverside Manufacturing designs and manufactures batus for home and commercial applications. Riverside recorded the following data...
Riverside Manufacturing designs and manufactures batus for home and commercial applications. Riverside recorded the following data for its commercial bathtub production line during the month of March Standard DL hours pertub Standard overhead rate per hour Standard Overhead cost per unit $12.00 Actual overhead costs Actual DL hours Actual Overhead cost per machine hour Actual tubs produced 1300 What is the variable manufacturing overhead rate variance in March? $3000 favorable $7500 unfavorable $3600 unfavorable $7500 favorable
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 The variable overhead spending variance, to the...
QUESTIONS 28 THROUGH 33 ARE BASED ON THE FOLLOWING INFORMATION: Cox Engineering performs cement core tests...
QUESTIONS 28 THROUGH 33 ARE BASED ON THE FOLLOWING INFORMATION: Cox Engineering performs cement core tests in its laboratory. The following standards have been set for each core test performed: SP Direct materials, 3 pounds @ $0.75 per pound. Direct labor, 0.4 hours @ $12.00 per hour.se Variable factory overhead, 0.4 hours @ $4.00 per hour. Fixed factory overhead, 0.4 hours @ $10.00 per hour. Manufacturing overhead is assigned to core tests on the basis of direct labor hours. Budgeted...
The following information relating to a company's overhead costs is available. Budgeted fixed overhead rate per...
The following information relating to a company's overhead costs is available. Budgeted fixed overhead rate per machine hour Actual variable overhead Budgeted variable overhead rate per machine hour Actual fixed overhead Budgeted hours allowed for actual output achieved $ 2.00 $95,000 $ 2.00 $20,000 41,000 Based on this information, the total overhead variance is: Multiple Choice $13,000 favorable. o $49,000 favorable. o $36,000 unfavorable. o O $49,000 $49,000 unfavorable. o
Use the following information to answer Questions 9 through 13. Urbana Company calculates its predetermined manufacturing...
Use the following information to answer Questions 9 through 13. Urbana Company calculates its predetermined manufacturing overhead rates using normal capacity, which is 288,000 units. The standard cost system allows 2 direct labor hours per unit produced. Manufacturing overhead is applied using direct labor hours. The total budgeted manufacturing overhead is $3,168,000, of which $864,000 is fixed manufacturing overhead. The actual results for the year are as follows. URBANA COMPANY ACTUAL RESULTS FOR PRODUCTION FOR CURRENT YEAR 280,000 Units produced...
CIIULIU 8-35 Comprehensive variance analysis. Chef Whiz manufactures premium food processors. The follow- ing are some...
CIIULIU 8-35 Comprehensive variance analysis. Chef Whiz manufactures premium food processors. The follow- ing are some manufacturing overhead data for Chef Whiz for the year ended December 31, 2017: Manufacturing Overhead Variable Fixed Actual Results $ 51,480 350,210 Flexible Budget $ 79,950 343,980 Allocated Amount $ 79,950 380,250 Budgeted number of output units: 588 Planned allocation rate: 3 machine-hours per unit Actual number of machine-hours used: 1,170 Static-budget variable manufacturing overhead costs: $72,324 Compute the following quantities (you should be...
Lancelot Corporation manufactures tennis gear and uses budgeted machine - hours to allocate variable manufacturing overhead. The following information relates to the company's manufacturing overhead data: Budgeted output units Budgeted machine - hours Budgeted variable manufacturing overhead costs for 3,000 units 3,000 units 15,000 hours $172,500 Actual output units produced Actual machine - hours used Actual variable manufacturing overhead costs 3,250 units 14,500 hours $230,000 What is the flexible - budget variance for variable manufacturing overhead? O A. $43,125 favorable...
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...
Standard machine hours per unit of output 4 hours Standard variable-overhead rate per machine hour 8.00 Actual variable-overhead rate per machine hour Actual machine hours per unit of output Budgeted fixed overhead |Actual fixed overhead Budgeted production in units Actual production in units Variable-overhead spending variance Variable-overhead efficiency variance Fixed-overhead budget variance Fixed-overhead volume variance Total actual overhead Total budgeted overhead (flexible budget) Total budgeted overhead (static budget) Total applied overhead 9.00 3 S 50,000 25,000 24,000 72,000 Unfavorable 192,000...
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...
Riverside Manufacturing designs and manufactures batus for home and commercial applications. Riverside recorded the following data for its commercial bathtub production line during the month of March Standard DL hours pertub Standard overhead rate per hour Standard Overhead cost per unit $12.00 Actual overhead costs Actual DL hours Actual Overhead cost per machine hour Actual tubs produced 1300 What is the variable manufacturing overhead rate variance in March? $3000 favorable $7500 unfavorable $3600 unfavorable $7500 favorable
QUESTIONS 28 THROUGH 33 ARE BASED ON THE FOLLOWING INFORMATION: Cox Engineering performs cement core tests in its laboratory. The following standards have been set for each core test performed: SP Direct materials, 3 pounds @ $0.75 per pound. Direct labor, 0.4 hours @ $12.00 per hour.se Variable factory overhead, 0.4 hours @ $4.00 per hour. Fixed factory overhead, 0.4 hours @ $10.00 per hour. Manufacturing overhead is assigned to core tests on the basis of direct labor hours. Budgeted...
The following information relating to a company's overhead costs is available. Budgeted fixed overhead rate per machine hour Actual variable overhead Budgeted variable overhead rate per machine hour Actual fixed overhead Budgeted hours allowed for actual output achieved $ 2.00 $95,000 $ 2.00 $20,000 41,000 Based on this information, the total overhead variance is: Multiple Choice $13,000 favorable. o $49,000 favorable. o $36,000 unfavorable. o O $49,000 $49,000 unfavorable. o
Use the following information to answer Questions 9 through 13. Urbana Company calculates its predetermined manufacturing overhead rates using normal capacity, which is 288,000 units. The standard cost system allows 2 direct labor hours per unit produced. Manufacturing overhead is applied using direct labor hours. The total budgeted manufacturing overhead is $3,168,000, of which $864,000 is fixed manufacturing overhead. The actual results for the year are as follows. URBANA COMPANY ACTUAL RESULTS FOR PRODUCTION FOR CURRENT YEAR 280,000 Units produced...
CIIULIU 8-35 Comprehensive variance analysis. Chef Whiz manufactures premium food processors. The follow- ing are some manufacturing overhead data for Chef Whiz for the year ended December 31, 2017: Manufacturing Overhead Variable Fixed Actual Results $ 51,480 350,210 Flexible Budget $ 79,950 343,980 Allocated Amount $ 79,950 380,250 Budgeted number of output units: 588 Planned allocation rate: 3 machine-hours per unit Actual number of machine-hours used: 1,170 Static-budget variable manufacturing overhead costs: $72,324 Compute the following quantities (you should be...
Most questions answered within 3 hours.
-
4. Which of the following would be a logical treatment for
septic shock? Explain your reasoning...
asked 13 seconds from now -
A researcher claims that at least 10% of young children suffer
from some food allergy. A...
asked 14 minutes ago -
Describe the difference between a Change Order (CO), a
Request For Information (RFI), and submittals? Give...
asked 13 minutes ago -
Help
can you do this?
C programming
Overview
In this program, you will be taking product...
asked 27 minutes ago -
The given plaintext is “Feistel
cipher structure uses the same algorithm for both encryption and
decryption”....
asked 31 minutes ago -
Use the redox table below to answer the following questions.
a) Would MnO2 reduce Cu2+?
b)...
asked 43 minutes ago -
import java.util.Scanner;
public class SieveOfEratosthenes {
public static void main(String args[]) {
Scanner sc...
asked 37 minutes ago -
Given the data below for the reaction, 2 A + 2 B + 4 C =>...
asked 42 minutes ago -
What were the sources of Spanish power in these centuries? Why
was Spain unable to sustain...
asked 45 minutes ago -
How do primary producer, primary consumers, secondary consumers,
and tertiary consumers affect the environment ?
asked 50 minutes ago -
The pet industry has undergone a surge in recent years,
surpassing even the $20 billion a...
asked 59 minutes ago -
what will be a good equation in order to find the
angular torque of the extension...
asked 1 hour ago