Homework Answers
Fixed factory overhead volume variance = Absorbed overhead - Budgeted overhead
= 17955*1.80 - 46000
= $13681 Favorable
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Standard Actual Variable overhead rate $3.351 Fixed overhead rate $1.80 Hours 18,900 17,955* Fixed overhead $46,000 Act...
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...
Factory Overhead Cost Variances Thomas Textiles Corporation began November with a budget for 46,000 hours of...
Factory Overhead Cost Variances Thomas Textiles Corporation began November with a budget for 46,000 hours of production in the Weaving Department. The department has a full capacity of 61,000 hours under normal business conditions. The budgeted overhead at the planned volumes at the beginning of November was as follows: Variable overhead $115,000 Fixed overhead 79,300 Total $194,300 The actual factory overhead was $196,600 for November. The actual fixed factory overhead was as budgeted. During November, the Weaving Department had standard...
Norwall Company's budgeted variable manufacturing overhead cost is $1.80 per machine-hour and its budgeted fixed manufacturing...
Norwall Company's budgeted variable manufacturing overhead cost is $1.80 per machine-hour and its budgeted fixed manufacturing overhead is $54,868 per month. The following information is available for a recent month: a. The denominator activity of 25,520 machine-hours is used to compute the predetermined overhead rate. b. At a denominator activity of 25,520 machine-hours, the company should produce 11,600 units of product. c. The company's actual operating results were: Number of units produced Actual machine-hours Actual variable manufacturing overhead cost Actual...
Direct Materials, Direct Labor, and Reports budgeted and actual costs for variable and fixed factory overhead...
Direct Materials, Direct Labor, and Reports budgeted and actual costs for variable and fixed factory overhead along with the related controllable and volume variances.Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. A detailed estimate of what a product should cost.Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 70,000 units of product were as follows: Standard Costs Actual Costs Direct materials 189,000 lbs. at $6.00 187,100...
Norwall Company's variable manufacturing overhead should be $1.95 per standard machine-hour and its fixed manufacturing overhead...
Norwall Company's variable manufacturing overhead should be $1.95 per standard machine-hour and its fixed manufacturing overhead should be $36,036 per month. The following information is available for a recent month: a. The denominator activity of 18,480 machine-hours is used to compute the predetermined overhead rate. b. At the 18,480 standard machine-hours level of activity, the company should produce 6,600 units of product. c. The company's actual operating results were: Number of units produced Actual machine-hours Actual variable manufacturing overhead cost...
The following data relate to factory overhead cost for the production of 6,000 computers: Actual: Variable...
The following data relate to factory overhead cost for the production of 6,000 computers: Actual: Variable factory overhead $97,500 Fixed factory overhead 42,500 Standard: 6,000 hrs. at $21 126,000 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 $143,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $4.25 per hour....
The following data relate to factory overhead cost for the production of 4,000 computers: Actual: Variable...
The following data relate to factory overhead cost for the production of 4,000 computers: Actual: Variable factory overhead $130,000 Fixed factory overhead 33,000 Standard: 4,000 hrs. at $39 156,000 If productive capacity of 100% was 6,000 hours and the total factory overhead cost budgeted at the level of 4,000 standard hours was $167,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $5.5 per hour....
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...
The standard costs and actual costs for factory overhead for the manufacture of 2,900 units of...
The standard costs and actual costs for factory overhead for the manufacture of 2,900 units of actual production are as follows: Standard Costs Fixed overhead (based on 10,000 hours) 3 hours per unit @ $0.76 per hour Variable overhead 3 hours per unit @ $2.05 per hour Actual Costs Total variable cost, $17,800 Total fixed cost, $8,000 The amount of the fixed factory overhead volume variance is a. $988 unfavorable b. $790 unfavorable c. $790 favorable d. $0
1,020 Actual machine hours Standard machine hours allowed Denominator activity machine hours) Actual fixed overhead costs...
1,020 Actual machine hours Standard machine hours allowed Denominator activity machine hours) Actual fixed overhead costs Budgeted faxed overhead costs Predetermined overhead rate ($2 variable 3.000 4080 $4 foed What is the production volume variance? $180 $440 $390 5260
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...
Factory Overhead Cost Variances Thomas Textiles Corporation began November with a budget for 46,000 hours of production in the Weaving Department. The department has a full capacity of 61,000 hours under normal business conditions. The budgeted overhead at the planned volumes at the beginning of November was as follows: Variable overhead $115,000 Fixed overhead 79,300 Total $194,300 The actual factory overhead was $196,600 for November. The actual fixed factory overhead was as budgeted. During November, the Weaving Department had standard...
Norwall Company's budgeted variable manufacturing overhead cost is $1.80 per machine-hour and its budgeted fixed manufacturing overhead is $54,868 per month. The following information is available for a recent month: a. The denominator activity of 25,520 machine-hours is used to compute the predetermined overhead rate. b. At a denominator activity of 25,520 machine-hours, the company should produce 11,600 units of product. c. The company's actual operating results were: Number of units produced Actual machine-hours Actual variable manufacturing overhead cost Actual...
Norwall Company's variable manufacturing overhead should be $1.95 per standard machine-hour and its fixed manufacturing overhead should be $36,036 per month. The following information is available for a recent month: a. The denominator activity of 18,480 machine-hours is used to compute the predetermined overhead rate. b. At the 18,480 standard machine-hours level of activity, the company should produce 6,600 units of product. c. The company's actual operating results were: Number of units produced Actual machine-hours Actual variable manufacturing overhead cost...
The following data relate to factory overhead cost for the production of 6,000 computers: Actual: Variable factory overhead $97,500 Fixed factory overhead 42,500 Standard: 6,000 hrs. at $21 126,000 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 $143,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $4.25 per hour....
The standard costs and actual costs for factory overhead for the manufacture of 2,900 units of actual production are as follows: Standard Costs Fixed overhead (based on 10,000 hours) 3 hours per unit @ $0.76 per hour Variable overhead 3 hours per unit @ $2.05 per hour Actual Costs Total variable cost, $17,800 Total fixed cost, $8,000 The amount of the fixed factory overhead volume variance is a. $988 unfavorable b. $790 unfavorable c. $790 favorable d. $0
1,020 Actual machine hours Standard machine hours allowed Denominator activity machine hours) Actual fixed overhead costs Budgeted faxed overhead costs Predetermined overhead rate ($2 variable 3.000 4080 $4 foed What is the production volume variance? $180 $440 $390 5260
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