Which of the following variances exists only under absorption costing? options: production-volume variance efficiency variances spending...
Homework Answers
Ans-1 The correct option is-production volume variance.
2-the correct option is-$720000 and $400.
3-the correct option is-efficiency.
4-the correct option is -the negotiating skills of the marketing manager
5-the correct option is -customer service costs
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Which of the following variances exists only under absorption
costing?
options:
production-volume variance
efficiency variances
spending...
2. Compute the direct labor cost variance, including its rate and efficiency variances. Standard Cost Actual...
2. Compute the direct labor cost variance, including its rate and efficiency variances. Standard Cost Actual Cost $ $ 0 0 0 0 3. Compute the overhead controllable and volume variances. Controllable Variance Actual overhead Budgeted overhead Controllable variance Fixed overhead volume variance Budgeted fixed overhead Fixed overhead cost applied Fixed overhead volume variance Check my work 1 ! Required information 12.5 [The following information applies to the questions displayed below.] points Trico Company set the following standard unit costs...
Milberg Co. uses absorption costing and standard costing to improve cost control. In 2016, the total...
Milberg Co. uses absorption costing and standard costing to
improve cost control.
In 2016, the total budgeted overhead rate was $1.55 per direct
labour hour. When preparing the budget, Milberg expected a monthly
activity level of 10,000 direct labour hours. The monthly variable
overhead cost budgeted for this level of activity was $9,500.
The following data on actual results are provided for the month
of November 2016.
Solve for:
Variable Overhead Spending Variance
Variable Overhead Efficiency Variance
Variable Overhead Total...
Milberg Co. uses absorption costing and standard costing to improve cost control. In 2016, the total...
Milberg Co. uses absorption costing and standard costing to
improve cost control.
In 2016, the total budgeted overhead rate was $1.55 per direct
labour hour. When preparing the budget, Milberg expected a monthly
activity level of 10,000 direct labour hours. The monthly variable
overhead cost budgeted for this level of activity was $9,500.
The following data on actual results are provided for the month
of November 2016.
calculate the following variances:
Material Price Variance
Materials Quantity Variance
Total Materials Variance...
Milberg Co. uses absorption costing and standard costing to improve cost control. In 2020, the total...
Milberg Co. uses absorption costing and standard costing to improve cost control. In 2020, the total budgeted overhead rate was $1.55 per direct labour hour. When preparing the budget, Milberg expected a monthly activity level of 10,000 direct labour hours. The monthly variable overhead cost budgeted for this level of activity was $9,500. The following data on actual results are provided for the month of November 2020. Materials purchased 20,000 units Direct labour costs incurred $36,000 Total of direct labour...
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 6,000 computers: Actual: Variable factory overhead $170,200 Fixed factory overhead 57,500 Standard: 6,000 hrs. at $35 210,000 If productive capacity of 100% was 10,000 hours and the total factory overhead cost budgeted at the level of 6,000 standard hours was $233,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual output of 123,000 units requiring 492,000 direct labor hours. (Practical capacity is 512,000 hours.) Annual budgeted overhead costs total $811,800, of which $585,480 is fixed overhead. A total of 119,500 units using 490,000 direct labor hours were produced during the year. Actual variable overhead costs for the year were $260,700, and...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual output of 129,000 units requiring 516,000 direct labor hours. (Practical capacity is 536,000 hours.) Annual budgeted overhead costs total $861,720, of which $608,880 is fixed overhead. A total of 119,000 units using 514,000 direct labor hours were produced during the year. Actual variable overhead costs for the year were $260,100, and...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual output of 126,000 units requiring 504,000 direct labor hours. (Practical capacity is 524,000 hours.) Annual budgeted overhead costs total $826,560, of which $599,760 is fixed overhead. A total of 119,400 units using 502,000 direct labor hours were produced during the year. Actual variable overhead costs for the year were $260,100, and...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual output of 124,000 units requiring 496,000 direct labor hours. (Practical capacity is 516,000 hours.) Annual budgeted overhead costs total $828,320, of which $590,240 is fixed overhead. A total of 119,200 units using 494,000 direct labor hours were produced during the year. Actual variable overhead costs for the year were $261,300, and...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual output of 121,000 units requiring 484,000 direct labor hours. (Practical capacity is 504,000 hours.) Annual budgeted overhead costs total $808,280, of which $575,960 is fixed overhead. A total of 119,000 units using 482,000 direct labor hours were produced during the year. Actual variable overhead costs for the year were $261,800, and...
2. Compute the direct labor cost variance, including its rate and efficiency variances. Standard Cost Actual Cost $ $ 0 0 0 0 3. Compute the overhead controllable and volume variances. Controllable Variance Actual overhead Budgeted overhead Controllable variance Fixed overhead volume variance Budgeted fixed overhead Fixed overhead cost applied Fixed overhead volume variance Check my work 1 ! Required information 12.5 [The following information applies to the questions displayed below.] points Trico Company set the following standard unit costs...
Milberg Co. uses absorption costing and standard costing to
improve cost control.
In 2016, the total budgeted overhead rate was $1.55 per direct
labour hour. When preparing the budget, Milberg expected a monthly
activity level of 10,000 direct labour hours. The monthly variable
overhead cost budgeted for this level of activity was $9,500.
The following data on actual results are provided for the month
of November 2016.
Solve for:
Variable Overhead Spending Variance
Variable Overhead Efficiency Variance
Variable Overhead Total...
Milberg Co. uses absorption costing and standard costing to
improve cost control.
In 2016, the total budgeted overhead rate was $1.55 per direct
labour hour. When preparing the budget, Milberg expected a monthly
activity level of 10,000 direct labour hours. The monthly variable
overhead cost budgeted for this level of activity was $9,500.
The following data on actual results are provided for the month
of November 2016.
calculate the following variances:
Material Price Variance
Materials Quantity Variance
Total Materials Variance...
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 6,000 computers: Actual: Variable factory overhead $170,200 Fixed factory overhead 57,500 Standard: 6,000 hrs. at $35 210,000 If productive capacity of 100% was 10,000 hours and the total factory overhead cost budgeted at the level of 6,000 standard hours was $233,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual output of 123,000 units requiring 492,000 direct labor hours. (Practical capacity is 512,000 hours.) Annual budgeted overhead costs total $811,800, of which $585,480 is fixed overhead. A total of 119,500 units using 490,000 direct labor hours were produced during the year. Actual variable overhead costs for the year were $260,700, and...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual output of 121,000 units requiring 484,000 direct labor hours. (Practical capacity is 504,000 hours.) Annual budgeted overhead costs total $808,280, of which $575,960 is fixed overhead. A total of 119,000 units using 482,000 direct labor hours were produced during the year. Actual variable overhead costs for the year were $261,800, and...
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