Regent, Inc. uses the following standard to produce a single unit of its product: overhead $6...
Regent, Inc. uses the following standard to produce a single unit of its product: overhead $6 (2 hrs. @ $3/hr.). The flexible budget for overhead is $160,000 plus $1.00 per direct labor hour. Actual data for the month show overhead costs of $277,000, and 35,000 units produced. The overhead volume variance is:
Multiple Choice
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$87,000 favorable.
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$60,000 favorable.
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$20,000 unfavorable.
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$80,000 unfavorable.
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$10,000 unfavorable
Homework Answers
| Correct option is: $20,000 unfavorable | |||
| Workings: | |||
| Overhead Volume Variance | = | Budgeted Overhead - Applied Overhead | |
| = | 230000 - 210000 | ||
| = | $ 20,000 | Unfavorable | |
| Budgeted Overhead | = | $160000 + (35000 units X 2 hours X $1) | |
| = | $ 2,30,000 | ||
| Applied Overhead | = | 35000 units X $6 | |
| = | $ 2,10,000 | ||
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33.30
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Antuan Company set the following standard costs for one unit of
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Direct materials (4.0 Ibs. @ $6.00 per Ib.)
$
24.00
Direct labor (1.9 hrs. @ $13.00 per hr.)
24.70
Overhead (1.9 hrs. @ $18.50 per hr.)
35.15
Total standard cost
$
83.85
The predetermined overhead rate ($18.50 per direct labor hour) is
based on an expected volume of 75% of the factory’s capacity of
20,000 units per month. Following are the company’s budgeted
overhead costs per month...
Antuan Company set the following standard costs for one unit of
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$
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Direct labor (2.0 hrs. @ $13.00 per hr.)
26.00
Overhead (2.0 hrs. @ $18.50 per hr.)
37.00
Total standard cost
$
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The predetermined overhead rate ($18.50 per direct labor hour)
is based on an expected volume of 75% of the factory’s capacity of
20,000 units per month. Following are the company’s budgeted
overhead costs per month...
Antuan Company set the following standard costs for one unit of
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Direct labor (1.8 hrs. @ $11.00 per hr.)
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Overhead (1.8 hrs. @ $18.50 per hr.)
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is based on an expected volume of 75% of the factory’s capacity of
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overhead costs per month...
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