10. Lihue, Inc., applies fixed overhead at the rate of $3.70 per unit. Budgeted fixed overhead...
10. Lihue, Inc., applies fixed overhead at the rate of
$3.70 per unit. Budgeted fixed overhead was $1,295,370. This month
342,600 units were produced, and actual overhead was
$1,275,000.
Required:
a. What are the fixed overhead price and
production volume variances for Lihue?(Indicate the effect of
each variance by selecting "F" for favorable, or "U" for
unfavorable. If there is no effect, do not select either
option.)
b. What was budgeted production for the
month? (Do not round intermediate
calculations.)
11. Mint Company applies fixed overhead at the rate of $1.60 per unit. For May, budgeted fixed overhead was $654,400. The production volume variance amounted to $4,800 unfavorable, and the price variance was $15,000 favorable.
Required:
a. What was the budgeted volume in units
for May?
b. What was the actual volume of units
produced in May?
c. What was the actual fixed overhead
incurred for May?
Homework Answers
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10. Lihue, Inc., applies fixed overhead at the rate of
$3.70 per unit. Budgeted fixed overhead...
Lihue, Inc., applies fixed overhead at the rate of $2.20 per unit. Budgeted fixed overhead was...
Lihue, Inc., applies fixed overhead at the rate of $2.20 per unit. Budgeted fixed overhead was $770,000. This month 345.000 units were produced, and actual overhead was $760,000. Required: a. What are the fixed overhead price and production volume variances for Lihue? b. What was budgeted production for the month? Complete this question by entering your answers in the tabs below. Required A Required B What are the fixed overhead price and production volume variances for Lihue? (Indicate the effect...
Lihue, Inc., applies fixed overhead at the rate of $2.60 per unit. Budgeted fixed overhead was...
Lihue, Inc., applies fixed overhead at the rate of $2.60 per unit. Budgeted fixed overhead was $911,820. This month 343,700 units were produced, and actual overhead was $902,000. Required: a. What are the fixed overhead price and production volume variances for Lihue? b. What was budgeted production for the month? Complete this question by entering your answers in the tabs below. Required A Required B What are the fixed overhead price and production volume variances for Lihue? (Indicate the effect...
Lihue, Inc., applies fixed overhead at the rate of $2.70 per unit. Budgeted fixed overhead was...
Lihue, Inc., applies fixed overhead at the rate of $2.70 per unit. Budgeted fixed overhead was $947,970. This month 343,600 units were produced, and actual overhead was $932,000. Required: a. What are the fixed overhead price and production volume variances for Lihue? b. What was budgeted production for the month? Complete this question by entering your answers in the tabs below. Required A Required B What are the fixed overhead price and production volume variances for Lihue? (Indicate the effect...
Lihue, Inc., applies fixed overhead at the rate of $3.50 per unit. Budgeted fixed overhead was...
Lihue, Inc., applies fixed overhead at the rate of $3.50 per unit. Budgeted fixed overhead was $1,229,550. This month 342,800 units were produced, and actual overhead was $1,210,000. Required: What are the fixed overhead price and production volume variances for Lihue? What was budgeted production for the month?
Cholla Company's standard fixed overhead rate is based on budgeted fixed manufacturing overhead of $24,600 and...
Cholla Company's standard fixed overhead rate is based on budgeted fixed manufacturing overhead of $24,600 and budgeted production of 30,000 units. Actual results for the month of October reveal that Cholla produced 28,000 units and spent $23,250 on fixed manufacturing overhead costs. Calculate Cholla's fixed overhead rate and the fixed overhead volume variance. (Round "Fixed Overhead Rate" to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) per Fixed Overhead Rate Unit...
Cholla Company's standard fixed overhead rate is based on budgeted fixed manufacturing overhead of $10,600 and...
Cholla Company's standard fixed overhead rate is based on budgeted fixed manufacturing overhead of $10,600 and budgeted production of 34,000 units. Actual results for the month of October reveal that Cholla produced 30,000 units and spent $11,1000 on fixed manufacturing overhead costs. Calculate Cholla's fixed overhead spending variance. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Fixed Overhead Spending Variance
The standard variable overhead cost rate for the Gordon Company is $13.25 per unit. Budgeted fixed...
The standard variable overhead cost rate for the Gordon Company is $13.25 per unit. Budgeted fixed overhead cost is S80,000. The company budgeted 8,000 units for the current period and actually produced 4,100 finished units. What is the fixed overhead volume variance? Assume the allocation base for fixed overhead costs is the number of units expected to be produced OA. $25,675 unfavorable OB. $39,000 favorable OC. S39.000 unfavorable O D. $25,675 favorable
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...
Information on Carney Company's fixed overhead costs follows: Overhead applied Actual overhead Budgeted overhead $360, eee...
Information on Carney Company's fixed overhead costs follows: Overhead applied Actual overhead Budgeted overhead $360, eee 385,500 369,800 Required: What are the fixed overhead price and production volume variances? (Indicate the effect of each varlance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select elther option.) Fixed overhead price variance Fixed overhead production volume variance
James Corp. applies overhead on the basis of direct labor hours. For the month of May,...
James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 10,000 units (80% of its production capacity of 12,500 units) and prepared the following overhead budget: Operating Levels Overhead Budget 80% Production in units 10,000 Standard direct labor hours 25,000 Budgeted overhead Variable overhead costs Indirect materials $ 18,000 Indirect labor 25,000 Power 5,000 Maintenance 2,000 Total variable costs 50,000 Fixed overhead costs Rent of factory building 18,000 Depreciation—Machinery...
Lihue, Inc., applies fixed overhead at the rate of $2.20 per unit. Budgeted fixed overhead was $770,000. This month 345.000 units were produced, and actual overhead was $760,000. Required: a. What are the fixed overhead price and production volume variances for Lihue? b. What was budgeted production for the month? Complete this question by entering your answers in the tabs below. Required A Required B What are the fixed overhead price and production volume variances for Lihue? (Indicate the effect...
Lihue, Inc., applies fixed overhead at the rate of $2.60 per unit. Budgeted fixed overhead was $911,820. This month 343,700 units were produced, and actual overhead was $902,000. Required: a. What are the fixed overhead price and production volume variances for Lihue? b. What was budgeted production for the month? Complete this question by entering your answers in the tabs below. Required A Required B What are the fixed overhead price and production volume variances for Lihue? (Indicate the effect...
Lihue, Inc., applies fixed overhead at the rate of $2.70 per unit. Budgeted fixed overhead was $947,970. This month 343,600 units were produced, and actual overhead was $932,000. Required: a. What are the fixed overhead price and production volume variances for Lihue? b. What was budgeted production for the month? Complete this question by entering your answers in the tabs below. Required A Required B What are the fixed overhead price and production volume variances for Lihue? (Indicate the effect...
Cholla Company's standard fixed overhead rate is based on budgeted fixed manufacturing overhead of $24,600 and budgeted production of 30,000 units. Actual results for the month of October reveal that Cholla produced 28,000 units and spent $23,250 on fixed manufacturing overhead costs. Calculate Cholla's fixed overhead rate and the fixed overhead volume variance. (Round "Fixed Overhead Rate" to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) per Fixed Overhead Rate Unit...
Cholla Company's standard fixed overhead rate is based on budgeted fixed manufacturing overhead of $10,600 and budgeted production of 34,000 units. Actual results for the month of October reveal that Cholla produced 30,000 units and spent $11,1000 on fixed manufacturing overhead costs. Calculate Cholla's fixed overhead spending variance. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) Fixed Overhead Spending Variance
The standard variable overhead cost rate for the Gordon Company is $13.25 per unit. Budgeted fixed overhead cost is S80,000. The company budgeted 8,000 units for the current period and actually produced 4,100 finished units. What is the fixed overhead volume variance? Assume the allocation base for fixed overhead costs is the number of units expected to be produced OA. $25,675 unfavorable OB. $39,000 favorable OC. S39.000 unfavorable O D. $25,675 favorable
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...
Information on Carney Company's fixed overhead costs follows: Overhead applied Actual overhead Budgeted overhead $360, eee 385,500 369,800 Required: What are the fixed overhead price and production volume variances? (Indicate the effect of each varlance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select elther option.) Fixed overhead price variance Fixed overhead production volume variance
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