Homework Answers
Solution 1:
Standard overhead rate = $35 per hour
Fixed overhead rate = $5.75 per hour
Standard variable overhead rate = $35 - $5.75 = $29.25 per hour
Variable factory overhead controllable variance = Actual variable overhead cost - Standard variable overhead cost
= $170,200 - (6000*$29.25) = -$5,300 Favorable
Fixed factory overhead volume variance = budgeted fixed overhead - Fixed overhead applied
= $57,500 - (6000*$5.75) = $23,000 Unfavorable
Total factory overhead cost variance = -$5,300 + $23,000 = $17, 700 Unfavorable
Solution 2:
Standard quantity of material per unit = $32,400 / ($0.60*18000) = 3 units
standard labor hour per unit = $8,100 / ($9*18000) = 0.05 hour per unit
Actual quantity of material used = $29,100 / $0.60 = 48500 units
Actual hours of labor = $7,300 / 9 = 811.111111 hours
Direct material quantity variance = (AQ - SQ) * SP = (48500 - 15700*3) * $0.60 = $840 Unfavorable
Direct labor time variance = (AH - SH) * SR = (811.11111 - 15700*0.05) * $9 = $235 unfavorable
Add Answer to:
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 4,000 computers: Variable factory overhead $105,700 Actual: Fixed factory overhead 40,500 4,000 hrs. at $34 Standard: 136,000 If productive capacity of 100 % was 6,000 hours and the factory overhead cost budgeted at the level of 4,000 standard hours was $149,500, determine the variable factory overhead Controllable Variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 3,000 computers: Actual: Variable factory overhead $64,700 Fixed factory overhead 18,750 Standard: 3,000 hrs. at $26 78,000 If productive capacity of 100% was 5,000 hours and the factory overhead cost budgeted at the level of 3,000 standard hours was $85,500, determine the variable factory overhead Controllable Variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 8,000 computers: Actual: Variable factory overhead $166,800 Fixed factory overhead 45,500 Standard: 8,000 hrs. at $25 200,000 If productive capacity of 100% was 13,000 hours and the total factory overhead cost budgeted at the level of 8,000 standard hours was $217,500, determine the variable factory overhead Controllable Variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 7,000 computers: Actual: Variable factory overhead $181,600 Fixed factory overhead 57,750 Standard: 7,000 hrs. at $32 224,000 If productive capacity of 100% was 11,000 hours and the total factory overhead cost budgeted at the level of 7,000 standard hours was $245,000, urs and the total factory overhead cost budgeted at the level of 7,000 standard hours was $245,000, determine the variable factory overhead controllable...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 7,000 computers: Actual: Variable factory overhead $198,600 Fixed factory overhead 63,250 245,000 Standard: 7,000 hrs. at $35 If productive capacity of 100% was 11,000 hours and the total factory overhead cost budgeted at the level of 7,000 standard hours was $268,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 8,000 computers: Actual: Variable factory overhead $124,200 Fixed factory overhead 52,000 Standard: 8,000 hrs. at $20 160,000 If productive capacity of 100% was 13,000 hours and the total factory overhead cost budgeted at the level of 8,000 standard hours was $180,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 3,000 computers: Actual: Variable factory overhead $97,500 Fixed factory overhead 27,500 Standard: 3,000 hrs. at $39 117,000 If productive capacity of 100% was 5,000 hours and the total factory overhead cost budgeted at the level of 3,000 standard hours was $128,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 5,000 computers: Actual: Variable factory overhead $107,900 Fixed factory overhead 30,000 Standard: 130,000 5,000 hrs. at $26 If productive capacity of 100% was 8,000 hours and the total factory overhead cost budgeted at the level of 5,000 standard hours was $141,250, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 7,000 computers: Actual: Variable factory overhead $130,700 Fixed factory overhead 52,250 Standard: 7,000 hrs. at $24 168,000 If productive capacity of 100% was 11,000 hours and the total factory overhead cost budgeted at the level of 7,000 standard hours was $187,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 7,000 computers: Actual: Variable factory overhead $202,000 Fixed factory overhead 46,750 Standard: 7,000 hrs. at $34 238,000 If productive capacity of 100% was 11,000 hours and the total factory overhead cost budgeted at the level of 7,000 standard hours was $255,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 4,000 computers: Variable factory overhead $105,700 Actual: Fixed factory overhead 40,500 4,000 hrs. at $34 Standard: 136,000 If productive capacity of 100 % was 6,000 hours and the factory overhead cost budgeted at the level of 4,000 standard hours was $149,500, determine the variable factory overhead Controllable Variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 7,000 computers: Actual: Variable factory overhead $181,600 Fixed factory overhead 57,750 Standard: 7,000 hrs. at $32 224,000 If productive capacity of 100% was 11,000 hours and the total factory overhead cost budgeted at the level of 7,000 standard hours was $245,000, urs and the total factory overhead cost budgeted at the level of 7,000 standard hours was $245,000, determine the variable factory overhead controllable...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 7,000 computers: Actual: Variable factory overhead $198,600 Fixed factory overhead 63,250 245,000 Standard: 7,000 hrs. at $35 If productive capacity of 100% was 11,000 hours and the total factory overhead cost budgeted at the level of 7,000 standard hours was $268,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 8,000 computers: Actual: Variable factory overhead $124,200 Fixed factory overhead 52,000 Standard: 8,000 hrs. at $20 160,000 If productive capacity of 100% was 13,000 hours and the total factory overhead cost budgeted at the level of 8,000 standard hours was $180,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 5,000 computers: Actual: Variable factory overhead $107,900 Fixed factory overhead 30,000 Standard: 130,000 5,000 hrs. at $26 If productive capacity of 100% was 8,000 hours and the total factory overhead cost budgeted at the level of 5,000 standard hours was $141,250, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 7,000 computers: Actual: Variable factory overhead $202,000 Fixed factory overhead 46,750 Standard: 7,000 hrs. at $34 238,000 If productive capacity of 100% was 11,000 hours and the total factory overhead cost budgeted at the level of 7,000 standard hours was $255,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate...
Most questions answered within 3 hours.
-
A coach uses a new technique to train gymnasts. Seven
gymnasts were randomly selected and their...
asked 7 minutes ago -
While rotating the tires on your car you notice a rock [mass =
0.1 Kg] stuck...
asked 2 hours ago -
Using MARS simulator, write MIPS programs according to
the following scenarios: Receive a positive integer number...
asked 3 hours ago -
An object in front of a concave mirror has a real image that is
11.5 cm...
asked 4 hours ago -
Consider the reaction, C3 H8 + O2 --> CO2 + H2O. How many
moles of O2...
asked 5 hours ago -
You and your opponent both roll a fair die. If you both roll the
same number,...
asked 6 hours ago -
In a study of the accuracy of fast food​ drive-through orders,
Restaurant A had 257 accurate...
asked 6 hours ago -
Identify and describe in detail the four categories of
institutions that could be included in a...
asked 6 hours ago -
In python
class Customer:
def __init__(self, customer_id, last_name, first_name, phone_number, address):
self._customer_id = int(customer_id)
self._last_name =...
asked 6 hours ago -
What is an example of a limitation in implementing a new
ERP system and how it...
asked 6 hours ago -
In a section of 9.7cm of an artery with a radius of 2.6mm there
is a...
asked 6 hours ago -
the two carboxylic acid groups of aspartic acid have different
acidities with pKa values of 2.1...
asked 6 hours ago