What is the variable overhead (VOH) spending variance for Terry Company for the period, to the nearest whole dollar?
Multiple Choice
-
$600 favorable.
-
$800 unfavorable.
-
$1,000 unfavorable.
-
$1,400 favorable.
-
$1,400 unfavorable.
Homework Answers
Variable overhead spending variance = (Standard rate-actual rate)actual hour
= (3*4400-14600)
Variable overhead spending variance = 1400 U
So answer is e) $1400 Unfavorable
Add Answer to:
What is the variable overhead (VOH) spending variance for Terry Company for the period, to the nearest whole dollar? Mu...
The following information is available from the Terry Company: Actual total factory overhead cost incurred $...
The following information is available from the Terry Company: Actual total factory overhead cost incurred $ 37,000 Actual fixed overhead cost incurred $ 11,200 Budgeted fixed overhead expenses $ 21,000 Actual direct labor hours (DLH) worked 5,300 Standard DLHs for this period’s production (output) 4,800 Standard variable overhead rate per DLH $ 3.00 Standard fixed overhead rate per DLH $ 2.50 What is the total overhead spending variance for Terry Company for the period, to the nearest whole dollar? $100...
The total factory overhead spending variance in 2019 (to the nearest whole dollar), based on a...
The total factory overhead spending
variance in 2019 (to the nearest whole dollar), based on a
three-variance breakdown (decomposition) of the total overhead
variance for Bluecap Co., was:
Multiple Choice
$3,200 favorable.
$11,440 unfavorable.
$15,040 favorable.
$17,280 favorable.
$17,440 unfavorable.
Bluecap Co. uses a standard cost system and flexible budgets for control purposes. The following budgeted information pertains to 2019: Denominator volume-number of units Denominator volume-percent of capacity Denominator volume-standard direct labor hours (DLHS) Budgeted variable factory overhead cost at...
a)The total overhead variance in 2019 for Bluecap Co., to the nearest whole dollar, was: Multiple...
a)The total overhead variance in
2019 for Bluecap Co., to the nearest whole dollar, was:
Multiple Choice
$14,000 unfavorable.
$15,040 favorable.
$17,280 favorable.
$37,840 favorable.
$37,840 unfavorable.
b.The fixed overhead production volume variance for
Bluecap Co. in 2019, to the nearest dollar, was:
Multiple Choice
$11,280 favorable.
$17,280 favorable.
$28,800 unfavorable.
$34,800 unfavorable.
$51,840 favorable.
Bluecap Co. uses a standard cost system and flexible budgets for control purposes. The following budgeted information pertains to 2019: Denominator volume-number of units Denominator...
Under a two-variance breakdown (decomposition) of the total factory overhead variance, the fixed overhead production volume...
Under a two-variance breakdown (decomposition) of the total
factory overhead variance, the fixed overhead production volume
variance, to the nearest whole dollar, is:
Multiple Choice
$400 favorable.
$600 unfavorable.
$1,400 favorable.
$1,400 unfavorable.
$2,000 favorable.
b.
Under a two-variance breakdown (decomposition) of the total
factory overhead variance, the total flexible-budget variance, to
the nearest whole dollar, is:
Multiple Choice
$400 favorable.
$600 unfavorable.
$1,400 favorable.
$1,400 unfavorable.
$2,000 favorable.
The following information for the past year is available from Thinnews...
Li Pong company uses a standard costing system. Last year they incurred $100,000 of Variable Overhead...
Li Pong company uses a standard costing system. Last year they incurred $100,000 of Variable Overhead and $317,000 of Fixed Overhead and had the following variances before closing entries. FOH Budget Variance $2,000 F FOH Volume Variance $2,000 U VOH Spending Variance $9,000 F VOH Efficiency Variance - $3,000 U How much overhead was applied to inventory over the course of the year? (Answer in dollars) Druid Company makes a single product and uses a standard costing system that applies...
The following information for the past year is available from Thinnews Co., a company that uses...
The following information for the past year is available from Thinnews Co., a company that uses machine hours to apply standard factory overhead cost to outputs: Actual total factory overhead cost incurred $ 24,000 Actual fixed overhead cost incurred $ 10,000 Budgeted fixed overhead cost $ 11,000 Actual machine hours 5,000 Standard machine hours allowed for the units manufactured 4,800 Denominator volume—machine hours 5,500 Standard variable overhead rate per machine hour $ 3.00 The variable overhead spending variance, to the...
QUESTION 1 Jordan Company produces basketballs and uses a standard costing system. Budgeted fixed overhead was...
QUESTION 1 Jordan Company produces basketballs and uses a standard costing system. Budgeted fixed overhead was $300,000. Rent changed during the year, causing actual fixed overhead to be $269,000. Jordan Company applies overhead on the basis of DLH. They projected 1,000,000 basketballs would be produced during the year. They actually produced 1,267,000 basketballs. The standard is 1 DLH/basketball. They actually used 1 DLH/basketball. What is the fixed overhead volume variance? (Please indicate overapplied fixed overhead with the letter "o" and...
Glavine & Co. produces a single product, each unit of which requires three direct labor hours...
Glavine & Co. produces a single product, each unit of which
requires three direct labor hours (DLHs). Practical capacity (for
setting the factory overhead application rate) is 58,000 DLHs, on
an annual basis. The information below pertains to the most recent
year:
Standard direct labor hours (DLHs) per unit produced
3.00
Practical capacity, in DLHs (per year)
58,000
Variable overhead efficiency variance
$
19,000
unfavorable (U)
Actual production for the year
16,500
units
Budgeted fixed manufacturing overhead
$
1,160,000
Standard...
Glavine & Co. produces a single product, each unit of which requires three direct labor hours...
Glavine & Co. produces a single product, each unit of which requires three direct labor hours (DLHs). Practical capacity (for setting the factory overhead application rate) is 62,000 DLHs, on an annual basis. The information below pertains to the most recent year: $ Standard direct labor hours (DLHS) per unit produced Practical capacity, in DLHS (per year) Variable overhead efficiency variance Actual production for the year Budgeted fixed manufacturing overhead Standard direct labor wage rate Total overhead cost variance for...
Choose the correct bolded choices to complete the sentences. The variable overhead cost variance is (favorable,...
Choose the correct bolded choices to complete the
sentences.
The variable overhead cost variance is (favorable,
unfavorable) because Longman actually spent (less,
more) than budgeted.
The variable overhead efficiency variance is (favorable,
unfavorable) because the actual hours used was
(more, less) than budgeted.
The fixed overhead cost variance is (favorable,
unfavorable) because Longman actually spent (less,
more) than budgeted for fixed overhead.
The fixed overhead volume variance is (favorable,
unfavorable) because Longman allocated (more,
less) overhead to jobs than the...
The total factory overhead spending
variance in 2019 (to the nearest whole dollar), based on a
three-variance breakdown (decomposition) of the total overhead
variance for Bluecap Co., was:
Multiple Choice
$3,200 favorable.
$11,440 unfavorable.
$15,040 favorable.
$17,280 favorable.
$17,440 unfavorable.
Bluecap Co. uses a standard cost system and flexible budgets for control purposes. The following budgeted information pertains to 2019: Denominator volume-number of units Denominator volume-percent of capacity Denominator volume-standard direct labor hours (DLHS) Budgeted variable factory overhead cost at...
a)The total overhead variance in
2019 for Bluecap Co., to the nearest whole dollar, was:
Multiple Choice
$14,000 unfavorable.
$15,040 favorable.
$17,280 favorable.
$37,840 favorable.
$37,840 unfavorable.
b.The fixed overhead production volume variance for
Bluecap Co. in 2019, to the nearest dollar, was:
Multiple Choice
$11,280 favorable.
$17,280 favorable.
$28,800 unfavorable.
$34,800 unfavorable.
$51,840 favorable.
Bluecap Co. uses a standard cost system and flexible budgets for control purposes. The following budgeted information pertains to 2019: Denominator volume-number of units Denominator...
Under a two-variance breakdown (decomposition) of the total
factory overhead variance, the fixed overhead production volume
variance, to the nearest whole dollar, is:
Multiple Choice
$400 favorable.
$600 unfavorable.
$1,400 favorable.
$1,400 unfavorable.
$2,000 favorable.
b.
Under a two-variance breakdown (decomposition) of the total
factory overhead variance, the total flexible-budget variance, to
the nearest whole dollar, is:
Multiple Choice
$400 favorable.
$600 unfavorable.
$1,400 favorable.
$1,400 unfavorable.
$2,000 favorable.
The following information for the past year is available from Thinnews...
Li Pong company uses a standard costing system. Last year they incurred $100,000 of Variable Overhead and $317,000 of Fixed Overhead and had the following variances before closing entries. FOH Budget Variance $2,000 F FOH Volume Variance $2,000 U VOH Spending Variance $9,000 F VOH Efficiency Variance - $3,000 U How much overhead was applied to inventory over the course of the year? (Answer in dollars) Druid Company makes a single product and uses a standard costing system that applies...
Glavine & Co. produces a single product, each unit of which
requires three direct labor hours (DLHs). Practical capacity (for
setting the factory overhead application rate) is 58,000 DLHs, on
an annual basis. The information below pertains to the most recent
year:
Standard direct labor hours (DLHs) per unit produced
3.00
Practical capacity, in DLHs (per year)
58,000
Variable overhead efficiency variance
$
19,000
unfavorable (U)
Actual production for the year
16,500
units
Budgeted fixed manufacturing overhead
$
1,160,000
Standard...
Glavine & Co. produces a single product, each unit of which requires three direct labor hours (DLHs). Practical capacity (for setting the factory overhead application rate) is 62,000 DLHs, on an annual basis. The information below pertains to the most recent year: $ Standard direct labor hours (DLHS) per unit produced Practical capacity, in DLHS (per year) Variable overhead efficiency variance Actual production for the year Budgeted fixed manufacturing overhead Standard direct labor wage rate Total overhead cost variance for...
Choose the correct bolded choices to complete the
sentences.
The variable overhead cost variance is (favorable,
unfavorable) because Longman actually spent (less,
more) than budgeted.
The variable overhead efficiency variance is (favorable,
unfavorable) because the actual hours used was
(more, less) than budgeted.
The fixed overhead cost variance is (favorable,
unfavorable) because Longman actually spent (less,
more) than budgeted for fixed overhead.
The fixed overhead volume variance is (favorable,
unfavorable) because Longman allocated (more,
less) overhead to jobs than the...
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