Homework Answers
Answer
- Standard Variable Overhead allowed = 600 actual units x 1 hr x $ 2 std rate = $ 1,200
- Actual variable Overhead = $ 4350
- Variance = $ 4350 – 1200 = $ 3,150
- Actual cost is MORE than Standard Cost, hence, Variance is UNFAVOURABLE.
- Correct Answer = Option #3: $ 3150 Unfavourable.
Add Answer to:
Question 10 Buckley Manufacturing reported the following budgeted and actual figures for one of its products: $2.00 $43...
The following data is given for the Bahia Company: Budgeted production 1,040 units Actual production 906...
The following data is given for the Bahia Company: Budgeted production 1,040 units Actual production 906 units Materials: Standard price per pound $1.866 Standard pounds per completed unit 11 Actual pounds purchased and used in production 9,667 Actual price paid for materials $19,817 Labor: Standard hourly labor rate $14.62 per hour Standard hours allowed per completed unit 4.0 Actual labor hours worked 4,665.9 Actual total labor costs $71,155 Overhead: Actual and budgeted fixed overhead $1,181,000 Standard variable overhead rate $26.00...
Fletcher Company collected the following data regarding production of one of its products. Compute the variable...
Fletcher Company collected the following data regarding production of one of its products. Compute the variable overhead efficiency variance. Direct labor standard (2 hrs. @ $12.40/hr.) $ 24.80 per finished unit Actual direct labor hours 96,500 hrs. Budgeted units 56,000 units Actual finished units produced 47,500 units Standard variable OH rate (2 hrs. @ $15.00/hr.) $ 30.00 per finished unit Standard fixed OH rate ($526,400/56,000 units) $ 9.40 per unit Actual cost of variable overhead costs incurred $ 1,417,000 Actual...
Norwall Company’s budgeted variable manufacturing overhead cost is $1.30 per machine-hour and its budgeted fixed manufacturing...
Norwall Company’s budgeted variable manufacturing overhead cost
is $1.30 per machine-hour and its budgeted fixed manufacturing
overhead is $30,624 per month.
The following information is available for a recent month:
The denominator activity of 9,570 machine-hours is used to
compute the predetermined overhead rate.
At a denominator activity of 9,570 machine-hours, the company
should produce 3,300 units of product.
The company’s actual operating results were:
Number of units produced
4,570
Actual machine-hours
10,090
Actual variable manufacturing overhead cost
$
14,630...
Lossing Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual...
Lossing Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhead costs for the most recent month appear below: Original Budget Actual Costs $ $ 7,800 10,720 7,990 10,070 Variable overhead costs: Supplies Indirect labor Fixed overhead costs: Supervision Utilities Factory depreciation Total overhead cost 15,610 14,900 59,970 $109,000 14,490 14,950 61,040 $108,540 The company based its original budget on 7,800 machine-hours. The company actually worked 7,760 machine-hours during the month. The standard hours...
Behring Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual...
Behring Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual fixed manufacturing overhead costs for the most recent month appear below: Original Budget Actual Costs Fixed overhead cost: Supervision $4,680 $4,800 Utilities 6,120 5,820 Factory depreciation 21,240 20,720 Total fixed manufacturing overhead cost $32,040 $31,340 The company based its original budget on 3,600 machine-hours. The company actually worked 3,570 machine-hours during the month. The standard hours...
Performance Report Based on Budgeted and Actual Levels of Production Bowling Company budgeted the following amounts:...
Performance Report Based on Budgeted and Actual Levels of Production Bowling Company budgeted the following amounts: Variable costs of production: Direct materials 3 pounds @ $0.60 per pound Direct labor 0.5 hr. @ $16.00 per hour VOH 0.5 hr. @ $2.20 FOH: Materials handling $6,200 Depreciation $2,600 At the end of the year, Bowling had the following actual costs for production of 3,800 units: Direct materials $6,800 Direct labor 30,500 VOH 4,200 FOH: Materials handling 6,300 Depreciation $2,600 Required: 1....
Norwall Company’s budgeted variable manufacturing overhead cost is $1.95 per machine-hour and its budgeted fixed manufacturing...
Norwall Company’s
budgeted variable manufacturing overhead cost is $1.95 per
machine-hour and its budgeted fixed manufacturing overhead is
$36,036 per month.
The following
information is available for a recent month:
The denominator activity of 18,480 machine-hours is used to
compute the predetermined overhead rate.
At a denominator activity of 18,480 machine-hours, the company
should produce 6,600 units of product.
The company’s actual operating results were:
Number of units
produced
7,550
Actual
machine-hours
19,630
Actual variable
manufacturing overhead cost
$
41,223...
The following data are given for Harry Company: Budgeted production 1,054 units Actual production 937 units...
The following data are given for Harry Company: Budgeted production 1,054 units Actual production 937 units Materials: Standard price per ounce $1.919 Standard ounces per completed unit 11 Actual ounces purchased and used in production 10,616 Actual price paid for materials $21,763 Labor: Standard hourly labor rate $14.76 per hour Standard hours allowed per completed unit 4.3 Actual labor hours worked 4,826 Actual total labor costs $78,423 Overhead: Actual and budgeted fixed overhead $1,025,000 Standard variable overhead rate $24.00 per...
The following data are given for Stringer Company: Budgeted production 909 units Actual production 1,036 units...
The following data are given for Stringer Company: Budgeted production 909 units Actual production 1,036 units Materials: Standard price per ounce $1.82 Standard ounces per completed unit 12 Actual ounces purchased and used in production 12,805 Actual price paid for materials $26,250 Labor: Standard hourly labor rate $14.95 per hour Standard hours allowed per completed unit 4.4 Actual labor hours worked 5,335.4 Actual total labor costs $81,365 Overhead: Actual and budgeted fixed overhead $1,110,000 Standard variable overhead rate $28.00 per...
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...
Norwall Company’s budgeted variable manufacturing overhead cost
is $1.30 per machine-hour and its budgeted fixed manufacturing
overhead is $30,624 per month.
The following information is available for a recent month:
The denominator activity of 9,570 machine-hours is used to
compute the predetermined overhead rate.
At a denominator activity of 9,570 machine-hours, the company
should produce 3,300 units of product.
The company’s actual operating results were:
Number of units produced
4,570
Actual machine-hours
10,090
Actual variable manufacturing overhead cost
$
14,630...
Lossing Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhead costs for the most recent month appear below: Original Budget Actual Costs $ $ 7,800 10,720 7,990 10,070 Variable overhead costs: Supplies Indirect labor Fixed overhead costs: Supervision Utilities Factory depreciation Total overhead cost 15,610 14,900 59,970 $109,000 14,490 14,950 61,040 $108,540 The company based its original budget on 7,800 machine-hours. The company actually worked 7,760 machine-hours during the month. The standard hours...
Norwall Company’s
budgeted variable manufacturing overhead cost is $1.95 per
machine-hour and its budgeted fixed manufacturing overhead is
$36,036 per month.
The following
information is available for a recent month:
The denominator activity of 18,480 machine-hours is used to
compute the predetermined overhead rate.
At a denominator activity of 18,480 machine-hours, the company
should produce 6,600 units of product.
The company’s actual operating results were:
Number of units
produced
7,550
Actual
machine-hours
19,630
Actual variable
manufacturing overhead cost
$
41,223...
Most questions answered within 3 hours.
-
Suppose you plan to invest $5,000 each year (beginning at the
end of this year) into...
asked 2 minutes ago -
What is the cell potential of the following cell at 25
oC? Note Au is a...
asked 3 minutes ago -
The Poseidon Swim Company produces swim trunks. The average
selling price for one of their swim...
asked 5 minutes ago -
DNA to Protein
Describe the mutation that created the HbS allele:
type of mutation, location of...
asked 8 minutes ago -
1a)When a 5000-kg roller coaster train full of riders approaches
the loading dock at a speed...
asked 9 minutes ago -
Which attribute allows you to specify a custom "thumbnail" for
multimedia elements?
asked 9 minutes ago -
USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (6)
QUESTIONS:
The following is a December 31,...
asked 11 minutes ago -
1. Why are the advantages and disadvantages of object-oriented
databases? 2. What are data marts? How...
asked 28 minutes ago -
A Porsche challenges a Honda to a 4.00×102m race. Because the
Porsche's acceleration of 3.30 m/s2...
asked 29 minutes ago -
A sample of C3H8 has 1.60×1024 H atoms.
How many carbon atoms does the sample contain?...
asked 1 hour ago -
How many unique codes are possibly formed from two characters,
where the first character can be...
asked 51 minutes ago -
A concentration cell is built based on the reaction:
2H+ + 2e- ----> H2
The pH...
asked 47 minutes ago