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Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches Corey Company provided the following info...
Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches Corey Company provided the following information:...
Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches Corey Company provided the following information: Standard fixed overhead rate (SFOR) per direct labor hour $10.00 Actual fixed overhead $425,000 Budgeted fixed overhead $500,000 Actual production in units 8,500 Standard hours allowed for actual units produced (SH) 42,500 Required Enter amounts as positive numbers and select Favorable (F) or Unfavorable(U). If no variance, enter $0 and select 0. 1. Using the columnar approach, calculate the fixed overhead spending and volume...
Variable Overhead Spending and Efficiency Variances, Columnar and Formula Approaches Aretha Company provided the following information:...
Variable Overhead Spending and Efficiency Variances, Columnar and Formula Approaches Aretha Company provided the following information: Standard variable overhead rate (SVOR) per direct labor hour $4.70 Actual variable overhead costs $335,750 Actual direct labor hours worked (AH) 69,200 Actual production in units 14,000 70,000 Standard hours (SH) allowed for actual units produced Required: 1. Using the columnar approach, calculate the variable overhead spending and efficiency variances. Enter amounts as positive numbers and select Favorable (F) or Unfavorable (U). (1) AH...
Overhead Application, Fixed and Variable Overhead Variances Zepol Company is planning to produce 600,000 power drills...
Overhead Application, Fixed and Variable Overhead Variances Zepol Company is planning to produce 600,000 power drills for the coming year. The company uses direct labor hours to assign overhead to products. Each drill requires 0.75 standard hour of labor for completion. The total budgeted overhead was $1,777,500. The total fixed overhead budgeted for the coming year is $832,500. Predetermined overhead rates are calculated using expected production, measured in direct labor hours. Actual results for the year are: Actual production (units)...
Total Fixed Overhead Variance Bulger Company provided the following data: Standard fixed overhead rate (SFOR) $8 per di...
Total Fixed Overhead Variance Bulger Company provided the following data: Standard fixed overhead rate (SFOR) $8 per direct labor hour Actual fixed overhead costs $985,300 Standard hours allowed per unit 6 hours Actual production 20,000 units Required: 1. Calculate the standard hours allowed for actual production. 60,000 X hours 2. Calculate the applied fixed overhead. $ 300,000 x 3. Calculate the total fixed overhead variance. Enter the amount as a positive number and select Favorable or Unfavorable. $ 1,680 X...
Static Plexible Volume Purchasing manager Favorable Unfavorable Debit Credit Fixed overhead budget Fixed overhead volune Spending...
Static Plexible Volume Purchasing manager Favorable Unfavorable Debit Credit Fixed overhead budget Fixed overhead volune Spending Production manager Variable overhead rate Variable overhead effieiency Fixed overhead spending Ixed overhead spending 1. A budget is based on a fixed estimate of sales volume. A volume 2. variance represents the difference between actual and expected levels of activity 3. The is typically responsible for the direct materials quantity variance The variable overhead rate variance is 4 when the actual variable overhead rate...
Overhead Variances, Four-Variance Analysis, Journal Entries Laughlin, Inc., uses a standard costing system. The predetermined overhead...
Overhead Variances, Four-Variance Analysis, Journal Entries Laughlin, Inc., uses a standard costing system. The predetermined overhead rates are calculated using practical capacity. Practical capacity for a year is defined as 1,000,000 units requiring 200,000 standard direct labor hours. Budgeted overhead for the year is $750,000, of which $300,000 is fixed overhead. During the year, 900,000 units were produced using 190,000 direct labor hours. Actual annual overhead costs totaled $800,000, of which $294,700 is fixed overhead. Required: 1. Calculate the fixed...
Overhead Application, Overhead Variances, Journal Entries Plimpton Company produces countertop ovens. Plimpton uses a standard costing...
Overhead Application, Overhead Variances, Journal Entries Plimpton Company produces countertop ovens. Plimpton uses a standard costing system. The standard costing system relies on direct labor hours to assign overhead costs to production. The direct labor standard indicates that two direct labor hours should be used for every oven produced. The normal production volume is 100,000 units. The budgeted overhead for the coming year is as follows: Fixed overhead $770,000 Variable overhead 446,000* *At normal volume. Plimpton applies overhead on the...
Fixed Overhead Variances Rostand Inc. operates a delivery service for over 70 restaurants. The corporation has...
Fixed Overhead Variances Rostand Inc. operates a delivery service for over 70 restaurants. The corporation has a fleet of vehicles and has invested in a sophisticated, computerized communications system to coordinate its deliveries. Rostand has gathered the following actual data on last year's delivery operations: Deliveries made 38,600 Direct labor 31,000 direct labor hours @ $14.00 Actual variable overhead $157,700 Rostand employs a standard costing system. During the year, a variable overhead rate of $5.10 per hour was used. The...
Fixed Overhead Variances Rostand Inc, operates a delivery service for over 70 restaurants. The corporation has...
Fixed Overhead Variances Rostand Inc, operates a delivery service for over 70 restaurants. The corporation has a fleet of vehicles and has invested in a sophisticated, computerized communications system to coordinate its deliveries, Rostand has gathered the following actual data on last years delivery operations Deliveries made Direct labor Actual variable overhead 38,600 31,000 drect labor hours@ $14.00 $157,700 Rostand employs a standard costing systm During the year a variable ovehead rate of $5.10 per our was used. Tthe labhor...
Use the following information of Alfred Industries. Standard manufacturing overhead based on normal monthly volume: Fixed...
Use the following information of Alfred Industries. Standard manufacturing overhead based on normal monthly volume: Fixed ($303,900 ÷ 20,000 units) $ 15.20 Variable ($100,000 ÷ 20,000 units) 5.00 $ 20.20 Units actually produced in current month 18,000 units Actual overhead costs incurred (including $300,000 fixed) $ 383,800 Compute the overhead spending variance and the volume variance. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).) Overhead spending...
Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches Corey Company provided the following information: Standard fixed overhead rate (SFOR) per direct labor hour $10.00 Actual fixed overhead $425,000 Budgeted fixed overhead $500,000 Actual production in units 8,500 Standard hours allowed for actual units produced (SH) 42,500 Required Enter amounts as positive numbers and select Favorable (F) or Unfavorable(U). If no variance, enter $0 and select 0. 1. Using the columnar approach, calculate the fixed overhead spending and volume...
Variable Overhead Spending and Efficiency Variances, Columnar and Formula Approaches Aretha Company provided the following information: Standard variable overhead rate (SVOR) per direct labor hour $4.70 Actual variable overhead costs $335,750 Actual direct labor hours worked (AH) 69,200 Actual production in units 14,000 70,000 Standard hours (SH) allowed for actual units produced Required: 1. Using the columnar approach, calculate the variable overhead spending and efficiency variances. Enter amounts as positive numbers and select Favorable (F) or Unfavorable (U). (1) AH...
Overhead Application, Fixed and Variable Overhead Variances Zepol Company is planning to produce 600,000 power drills for the coming year. The company uses direct labor hours to assign overhead to products. Each drill requires 0.75 standard hour of labor for completion. The total budgeted overhead was $1,777,500. The total fixed overhead budgeted for the coming year is $832,500. Predetermined overhead rates are calculated using expected production, measured in direct labor hours. Actual results for the year are: Actual production (units)...
Total Fixed Overhead Variance Bulger Company provided the following data: Standard fixed overhead rate (SFOR) $8 per direct labor hour Actual fixed overhead costs $985,300 Standard hours allowed per unit 6 hours Actual production 20,000 units Required: 1. Calculate the standard hours allowed for actual production. 60,000 X hours 2. Calculate the applied fixed overhead. $ 300,000 x 3. Calculate the total fixed overhead variance. Enter the amount as a positive number and select Favorable or Unfavorable. $ 1,680 X...
Static Plexible Volume Purchasing manager Favorable Unfavorable Debit Credit Fixed overhead budget Fixed overhead volune Spending Production manager Variable overhead rate Variable overhead effieiency Fixed overhead spending Ixed overhead spending 1. A budget is based on a fixed estimate of sales volume. A volume 2. variance represents the difference between actual and expected levels of activity 3. The is typically responsible for the direct materials quantity variance The variable overhead rate variance is 4 when the actual variable overhead rate...
Fixed Overhead Variances Rostand Inc. operates a delivery service for over 70 restaurants. The corporation has a fleet of vehicles and has invested in a sophisticated, computerized communications system to coordinate its deliveries. Rostand has gathered the following actual data on last year's delivery operations: Deliveries made 38,600 Direct labor 31,000 direct labor hours @ $14.00 Actual variable overhead $157,700 Rostand employs a standard costing system. During the year, a variable overhead rate of $5.10 per hour was used. The...
Fixed Overhead Variances Rostand Inc, operates a delivery service for over 70 restaurants. The corporation has a fleet of vehicles and has invested in a sophisticated, computerized communications system to coordinate its deliveries, Rostand has gathered the following actual data on last years delivery operations Deliveries made Direct labor Actual variable overhead 38,600 31,000 drect labor hours@ $14.00 $157,700 Rostand employs a standard costing systm During the year a variable ovehead rate of $5.10 per our was used. Tthe labhor...
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