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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Total standard cost
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overhead costs per month...
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$
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Direct labor (1.8 hrs. @ $11.00 per hr.)
19.80
Overhead (1.8 hrs. @ $18.50 per hr.)
33.30
Total standard cost
$
71.10
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Antuan Company set the following standard costs for one unit of
its product.
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
its product.
Direct materials (3.0 Ibs. @ $5.00 per Ib.)
$
15.00
Direct labor (2.0 hrs. @ $13.00 per hr.)
26.00
Overhead (2.0 hrs. @ $18.50 per hr.)
37.00
Total standard cost
$
78.00
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 materials (3.0 Ibs. @ $6.00 per Ib.)
$
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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.)
33.30
Total standard cost
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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...
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