Exercise 11-22 Straightforward Computation of Overhead Variances (LO 11-5) Crystal Glassware Company has the following standards...
Exercise 11-22 Straightforward Computation of Overhead Variances (LO 11-5)
Crystal Glassware Company has the following standards and flexible-budget data.
| Standard variable-overhead rate | $ | 7.00 | per direct-labor hour |
| Standard quantity of direct labor | 3 | hours per unit of output | |
| Budgeted fixed overhead | $ | 114,000 | |
| Budgeted output | 19,000 | units | |
Actual results for April are as follows:
| Actual output | 12,000 | units | |
| Actual variable overhead | $ | 324,000 | |
| Actual fixed overhead | $ | 107,000 | |
| Actual direct labor | 45,000 | hours | |
Required:
Use the variance formulas to compute the following variances. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).)
| Variable overhead spending variance | ||
| variable overhead efficiency variance | ||
| fixed overhead budget variance | ||
final three rows don't need anything, not supposed to be there
Homework Answers
Add Answer to:
Exercise 11-22 Straightforward Computation of Overhead Variances
(LO 11-5)
Crystal Glassware Company has the following standards...
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...
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 $ 19 per direct - labor hour 2.2 hours per unit of output $400, eee 30,units Actual results for April are as follows: Actual output Actual variable overhead Actual fixed overhead Actual direct labor 19,808 units $1,025, 150 $ 341,800 50, 500 hours Required: Use the following diagrams below (similar to Exhibit 11-6 and Exhibit 11-8 to...
Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate $...
Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate $ 7.00 per direct-labor hour Standard quantity of direct labor 2 hours per unit of output Budgeted fixed overhead $ 100,000 Budgeted output 25,000 units Actual results for April are as follows: Actual output 20,000 units Actual variable overhead $ 348,000 Actual fixed overhead $ 98,000 Actual direct labor 48,000 hours Required: Prepare journal entries for the following transactions. (If no...
RT 3 INFORMATION FOR MANAGING RESOURCES E11.22 Straightforward calculation of overhead variances: manufacturer LO5] of August...
RT 3 INFORMATION FOR MANAGING RESOURCES E11.22 Straightforward calculation of overhead variances: manufacturer LO5] of August The data below relate to Super Flash Ltd, a manufacturer of exercise equipment, for the Standard variable overhead rate Standard quantity of machine hours Budgeted fixed overhead Budgeted output $9 per machine hour 4 hours per unit of output $180000 15000 units Actual results for August are as follows: Actual output Actual variable overhead Actual fixed overhead Actual machine time 13500 units $607 500...
can you please help with question E11.22 E11.22 LO11.5 Straightforward calculation of overhead variances: manufactur...
can
you please help with question E11.22
E11.22 LO11.5 Straightforward calculation of overhead variances: manufacturer The data below relate to Sporty Ltd, a manufacturer of exercise equipment, for August Standard variable overhead rate Standard quantity of machine hours Budgeted fixed overhead Budgeted output S27 per machine hour 2 hours per unit of output $270 000 15 000 units Actual results for August are as follows: Actual output Actual variable overhead Actual fixed overhead Actual machine time 13 500 units $757...
Crystal Glassware Company has the following standards and flexible-budget data. $ 6.00 per direct-labor hour 2 hours pe...
Crystal Glassware Company has the following standards and flexible-budget data. $ 6.00 per direct-labor hour 2 hours per unit of output Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output $100,000 25,000 units Actual results for April are as follows: Actual output 20,000 units $320,000 97,000 50,000 hours Actual variable overhead Actual fixed overhead Actual direct labor Required: Prepare journal entries for the following transactions. (If no entry is required for a transaction/event, select "No journal...
Problem 11-49 Complete Analysis of Cost Variances; Review of Chapters 10 and 11 (LO 11-5) Chillco...
Problem 11-49 Complete Analysis of Cost Variances; Review of Chapters 10 and 11 (LO 11-5) Chillco Corporation produces containers of frozen food. During April, Chillco produced 760 cases of food and incurred the following actual costs. Book Variable overhead Fixed overhead Actual labor cont (5.000 direct-labor hours) Retual material cost (20.000 pounds purchased and used) Herences $ 6,400 21,300 87,500 66,000 Overhead is budgeted and applied using direct-labor hours in a standard costing system. Standard cost and annual budget Information...
Direct Material Variances Goldman, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantit...
Direct Material Variances Goldman, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantity is 0.7 pounds per glass at the cost of $0.35 per pound. The actual result for one month’s production of 6,950 glasses was 1.3 pounds per glass, at the cost of $0.45 per pound. Calculate the direct materials cost variance and the direct materials efficiency variance. Direct Labour Variances Goldman, Inc. manufactures lead crystal glasses. The standard direct labor time is 0.5 hours...
Exercise 21-19 Computation of total overhead rate and total overhead variance LO P3 World Company expects...
Exercise 21-19 Computation of total
overhead rate and total overhead variance LO P3 World Company
expects to operate at 80% of its productive capacity of 50,000
units per month. At this planned level, the company expects to use
25,000 standard hours of direct labor. Overhead is allocated to
products using a predetermined standard rate of 0.625 direct labor
hours per unit. At the 80% capacity level, the total budgeted cost
includes $50,000 fixed overhead cost and $275,000 variable overhead
cost....
ABC Company has the following standards and flexible budget data: Standard Variable Overhead Rate $5.40 Per...
ABC Company has the following standards and flexible budget data: Standard Variable Overhead Rate $5.40 Per direct labour hour Standard quantity of direct labor $1.80 hours per unit of output Budgeted fixed overhead rate $100,000 Budgeted Output 25,000 units Standard Variable Overhead $10.80 per unit Standard Fixed Overhead $3.60 per unit Actual Results for November are given below: Actual Output 30,000 units Actual variable overhead $360,000 Actual Fixed Overhead $106,000 Actual Direct Labor 56,000 hours REQUIRED: A) Variable manufacturing overhead...
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...
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 $ 19 per direct - labor hour 2.2 hours per unit of output $400, eee 30,units Actual results for April are as follows: Actual output Actual variable overhead Actual fixed overhead Actual direct labor 19,808 units $1,025, 150 $ 341,800 50, 500 hours Required: Use the following diagrams below (similar to Exhibit 11-6 and Exhibit 11-8 to...
RT 3 INFORMATION FOR MANAGING RESOURCES E11.22 Straightforward calculation of overhead variances: manufacturer LO5] of August The data below relate to Super Flash Ltd, a manufacturer of exercise equipment, for the Standard variable overhead rate Standard quantity of machine hours Budgeted fixed overhead Budgeted output $9 per machine hour 4 hours per unit of output $180000 15000 units Actual results for August are as follows: Actual output Actual variable overhead Actual fixed overhead Actual machine time 13500 units $607 500...
can
you please help with question E11.22
E11.22 LO11.5 Straightforward calculation of overhead variances: manufacturer The data below relate to Sporty Ltd, a manufacturer of exercise equipment, for August Standard variable overhead rate Standard quantity of machine hours Budgeted fixed overhead Budgeted output S27 per machine hour 2 hours per unit of output $270 000 15 000 units Actual results for August are as follows: Actual output Actual variable overhead Actual fixed overhead Actual machine time 13 500 units $757...
Crystal Glassware Company has the following standards and flexible-budget data. $ 6.00 per direct-labor hour 2 hours per unit of output Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output $100,000 25,000 units Actual results for April are as follows: Actual output 20,000 units $320,000 97,000 50,000 hours Actual variable overhead Actual fixed overhead Actual direct labor Required: Prepare journal entries for the following transactions. (If no entry is required for a transaction/event, select "No journal...
Problem 11-49 Complete Analysis of Cost Variances; Review of Chapters 10 and 11 (LO 11-5) Chillco Corporation produces containers of frozen food. During April, Chillco produced 760 cases of food and incurred the following actual costs. Book Variable overhead Fixed overhead Actual labor cont (5.000 direct-labor hours) Retual material cost (20.000 pounds purchased and used) Herences $ 6,400 21,300 87,500 66,000 Overhead is budgeted and applied using direct-labor hours in a standard costing system. Standard cost and annual budget Information...
Exercise 21-19 Computation of total
overhead rate and total overhead variance LO P3 World Company
expects to operate at 80% of its productive capacity of 50,000
units per month. At this planned level, the company expects to use
25,000 standard hours of direct labor. Overhead is allocated to
products using a predetermined standard rate of 0.625 direct labor
hours per unit. At the 80% capacity level, the total budgeted cost
includes $50,000 fixed overhead cost and $275,000 variable overhead
cost....
Most questions answered within 3 hours.
-
The pH of a sample of water from a river is 5.0. A
sample of effluent from...
asked 35 minutes ago -
At the beginning of the period, the Fabricating Department
budgeted direct labor of $136,500 and equipment...
asked 1 hour ago -
Please answer all
____ 28. Rent control is usually
justified on the grounds that it protects...
asked 1 hour ago -
PARTS A-D HAVE BEEN ANSWERED. WAS TOLD TO REPOST. ONLY ANSWER
PARTS E and F.
A...
asked 1 hour ago -
2) You are given the task of finding a representation for a
circle in a drawing...
asked 2 hours ago -
STUDY QUESTION: Does use of diet drug fen-phen
(fenfluramine-phentermine) cause valvular heart disease?
HINT: Valvular heart...
asked 2 hours ago -
1. An object weighing 40 N rests on a surface. The coefficient
of friction is 0.35....
asked 3 hours ago -
Investor company owns 35% of investee company voting stock and
accounts for the investment under the...
asked 4 hours ago -
The number of major faults on a randomly chosen 1 km stretch of
highway has a...
asked 5 hours ago -
Consider the competitive environment of Starbuck's, Progressive
Insurance, a manufacturing firm with low turnover, or a...
asked 5 hours ago -
3. Gains from trade
Consider two neighbouring island countries called Euphoria and
Contente. They each have...
asked 7 hours ago -
A business executive has the option to invest money in two
plans: Plan A guarantees that...
asked 10 hours ago