Budgeted Labor Hours = 30,000 Hours
Standard Cost Per Labor Hour = $12
Budgeted Fixed Overhead Cost = 30,000 hours @ $12 i.e. $360,000
Actual Overhead Cost = $350,000
Fixed Overhead Spending Variance = Actual Overhead - Budgeted Overhead
= $350,000 - $360,000
= -$10,000
i.e. $10,000 Favorable Fixed Overhead Spending Variance
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Formatting" Table Styles Styles Alignment Clipboard 5. CIS : X fx A A B C D E 1 Labor Variances. Variable Overhead Variances. 2 Tech Company produces computer servers. 3 The company's standards show each server will require 10 hours of direct labor at $20 per hour. 4 Tech's direct labor workforce worked 3,200 hours to produce 300 units during the month of August and was paid $22...
Paste BI U Rab Format Painter Merge & Center $ - % Conditional Formatting Indo Clipboard Font Alignment Number -10 fa А D E F G H K 1 M Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $10,000 and $35,000. 2 Assume that a 95% confidence interval estimate of the population mean annual starting salary is desired. 3 How large a sample should be taken for each desired margin of...
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The following information relates to Watson, Inc.'s overhead costs for the month: E: (Click the icon to view the information.) Requirements 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. 2. Explain why the variances are favorable or unfavorable. Requirement 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume...
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OH Variance At the beginning of the year, your company thought . Each product would use 3 direct labor hours. . Fixed overhead would be $900,000 for the year. Fixed overhead would be applied based on machine hours and would be $2.50 per machine hour. .Variable overhead would be applied based on direct labor hours and would be $4.00 per direct labor hour e46,000 units would be produced At the end of the year, what happened that year was: 48,000...
DIA Marpe Center General $ % -48 Conditional Format Cell Formatting as Table Styles 1 Lab #7 Template for Chapter 20 2 Master Budget for a Manufacturer EF н 522 4 Budget Assumptions 5 1. Projected January unit sales: 11,000 6 - Assumed month-over-month increase in unit sales: 7 - Selling price per unit: 8 2. Monthly sales will be 25% cash sales and 75% credit sales (collected in the month following the sales) 93. Ending finished goods inventory should...