Homework Answers
Variable overhead rate variance = Actual overhead - (Actual hours * Standard rate)
| Variable overhead rate variance | |
| Lubricants | $1,271 U [$47,069 - (8,980 * $5.1)] |
| Supplies | $451 F [$33,673 - ($8,980 * $3.8)] |
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The following data have been provided by Lopus Corporation 10 Budgeted production Standard machine-hours per unit...
2. The following data have been provided by Lopus Corporation: Budgeted production Standard machine-hours per unit Sta...
2.
The following data have been provided by Lopus Corporation: Budgeted production Standard machine-hours per unit Standard lubricants Standard supplies 4,000 units 4.1 machine-hours 5.60 per machine-hour 4.30 per machine-hour $ $ Actual production Actual machine-hours Actual lubricants (total) Actual supplies (total) 4,300 units 9,480 machine-hours $ 54,833 $40,239 Required: Compute the variable overhead rate variances for lubricants and for supplies. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect...
The following data have been provided by Mathews Corporation: Budgeted production 6,900 units Standard machine-hours per...
The following data have been provided by Mathews Corporation: Budgeted production 6,900 units Standard machine-hours per unit 9.4 machine-hours Standard lubricants rate $ 1.20 per machine-hour Standard supplies rate $ 1.00 per machine-hour Actual production 7,000 units Actual machine-hours (total) 66,230 machine-hours Actual lubricants cost (total) $78,100 Actual supplies cost (total) $66,536 Lubricants and supplies are both elements of variable manufacturing overhead. The variable overhead rate variance for lubricants is closest to:
2. Bondi Corporation makes automotive engines. For the most recent month, budgeted production was 2,700 engines....
2.
Bondi Corporation makes automotive engines. For the most recent month, budgeted production was 2,700 engines. The standard power cost is $1.80 per machine-hour. The company's standards indicate that each engine requires 10.5 machine-hours. Actual production was 3,000 engines. Actual machine-hours were 29,750 machine-hours. Actual power cost totaled $58,537. Required: Determine the rate and efficiency variances for the variable overhead item power cost and indicate whether those variances are unfavorable or favorable. (Indicate the effect of each variance by selecting...
The following data for November have been provided by Hunn Corporation, a producer of precision drills...
The following data for November have been provided by Hunn Corporation, a producer of precision drills for oil exploration: Budgeted production 4,400 drills Standard machine-hours per drill 9.7 machine-hours Standard indirect labor $ 9.50 per machine-hour Standard power $ 3.10 per machine-hour Actual production 4,600 drills Actual machine-hours 36,050 machine-hours Actual indirect labor $ 345,062 Actual power $ 110,460 Required: Compute the variable overhead rate variances for indirect labor and for power for November. Indicate whether each of the variances...
The following data for November have been provided by Hunn Corporation, a producer of precision drills...
The following data for November have been provided by Hunn Corporation, a producer of precision drills for oil exploration: Budgeted production Standard machine-hours per drill Standard indirect labor Standard power 4,400 dri11s 9.7 nachine-hours 9.50 per machine-hour S 3.10 per machine-hour Actual production Actual machine-hours Actual indirect labor Actual power 4,600 drills 36,050 machine-hours $345,062 $110,460 Required: Compute the variable overhead rate variances for indirect labor and for power for November. Indicate whether each of the variances is favorable (F)...
Bondi Corporation makes automotive engines. For the most recent month, budgeted production was 3,500 engines. The...
Bondi Corporation makes automotive engines. For the most recent month, budgeted production was 3,500 engines. The standard power cost is $1.50 per machine-hour. The company's standards indicate that each engine requires 11.3 machine-hours. Actual production was 3,800 engines. Actual machine-hours were 41,340 machine-hours. Actual power cost totaled $66,642. Required: Determine the rate and efficiency variances for the variable overhead item power cost. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no...
Bondi Corporation makes automotive engines. For the most recent month, budgeted production was 3,500 engines. The...
Bondi Corporation makes automotive engines. For the most recent month, budgeted production was 3,500 engines. The standard power cost is $1.50 per machine-hour. The company's standards indicate that each engine requires 11.3 machine-hours. Actual production was 3,800 engines. Actual machine-hours were 41,340 machine-hours. Actual power cost totaled $66,642. Required: Determine the rate and efficiency variances for the variable overhead item power cost. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no...
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...
The following data for November have been provided by Hunn Corporation, a producer of precision drills...
The following data for November have been provided by Hunn Corporation, a producer of precision drills for oil exploration: Budgeted production 5,200 drills Standard machine-hours per drill 10.5 machine-hours Standard indirect labor $ 10.30 per machine-hour Standard power $ 3.90 per machine-hour Actual production 5,400 drills Actual machine-hours 36,850 machine-hours Actual indirect labor $ 384,123 Actual power $ 140,450 Required: Compute the variable overhead rate variances for indirect labor and for power for November. Indicate whether each of the variances...
TB Problem Qu. 10-239 The following data for November have been provided.... The following data for...
TB Problem Qu. 10-239 The following data for November have been provided.... The following data for November have been provided by Hunn Corporation, a producer of precision drills for oil exploration: Budgeted production Standard machine-hours per drill er den Standard indirect labor Standard power 5,000 drills 10.3 machine-hours 10.10 per machine-hour 3.70 per machine-hour $ $ Actual production Actual machine-hours Actual Indirect labor Actual power 5,200 drills 36,650 machine-hours $372,823 $134,250 Required: Compute the variable overhead rate variances for indirect...
2.
The following data have been provided by Lopus Corporation: Budgeted production Standard machine-hours per unit Standard lubricants Standard supplies 4,000 units 4.1 machine-hours 5.60 per machine-hour 4.30 per machine-hour $ $ Actual production Actual machine-hours Actual lubricants (total) Actual supplies (total) 4,300 units 9,480 machine-hours $ 54,833 $40,239 Required: Compute the variable overhead rate variances for lubricants and for supplies. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect...
2.
Bondi Corporation makes automotive engines. For the most recent month, budgeted production was 2,700 engines. The standard power cost is $1.80 per machine-hour. The company's standards indicate that each engine requires 10.5 machine-hours. Actual production was 3,000 engines. Actual machine-hours were 29,750 machine-hours. Actual power cost totaled $58,537. Required: Determine the rate and efficiency variances for the variable overhead item power cost and indicate whether those variances are unfavorable or favorable. (Indicate the effect of each variance by selecting...
The following data for November have been provided by Hunn Corporation, a producer of precision drills for oil exploration: Budgeted production Standard machine-hours per drill Standard indirect labor Standard power 4,400 dri11s 9.7 nachine-hours 9.50 per machine-hour S 3.10 per machine-hour Actual production Actual machine-hours Actual indirect labor Actual power 4,600 drills 36,050 machine-hours $345,062 $110,460 Required: Compute the variable overhead rate variances for indirect labor and for power for November. Indicate whether each of the variances is favorable (F)...
Bondi Corporation makes automotive engines. For the most recent month, budgeted production was 3,500 engines. The standard power cost is $1.50 per machine-hour. The company's standards indicate that each engine requires 11.3 machine-hours. Actual production was 3,800 engines. Actual machine-hours were 41,340 machine-hours. Actual power cost totaled $66,642. Required: Determine the rate and efficiency variances for the variable overhead item power cost. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no...
Bondi Corporation makes automotive engines. For the most recent month, budgeted production was 3,500 engines. The standard power cost is $1.50 per machine-hour. The company's standards indicate that each engine requires 11.3 machine-hours. Actual production was 3,800 engines. Actual machine-hours were 41,340 machine-hours. Actual power cost totaled $66,642. Required: Determine the rate and efficiency variances for the variable overhead item power cost. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no...
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...
TB Problem Qu. 10-239 The following data for November have been provided.... The following data for November have been provided by Hunn Corporation, a producer of precision drills for oil exploration: Budgeted production Standard machine-hours per drill er den Standard indirect labor Standard power 5,000 drills 10.3 machine-hours 10.10 per machine-hour 3.70 per machine-hour $ $ Actual production Actual machine-hours Actual Indirect labor Actual power 5,200 drills 36,650 machine-hours $372,823 $134,250 Required: Compute the variable overhead rate variances for indirect...
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