1. What is the variable overhead spending variance? 2. Using the three-variance approach, what is the efficiency variance?Required to answer. Single choice. 3. Using the two-variance approach, what is the controllable variance?
1. What is the variable overhead spending variance? 2. Using the three-variance approach, what is the efficiency variance?Required to answer. Single choice. 3. Using the two-variance approach, what is the controllable variance?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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100%
Rainbow Company uses
|
Standard: |
|
| Direct labor hours per unit | 2.20 |
| variable overhead per hour | P2.50 |
| fixed overhead per hour (based on 11,990 DLHs) | 3.00 |
| Actual: | |
| Units produced | 4,400 |
| Direct labor hours | 8,800 |
| Variable Overhead | P29,950 |
| Fixed Overhead | 42,300 |
1. What is the variable overhead spending variance?
2. Using the three-variance approach, what is the efficiency variance?Required to answer. Single choice.
3. Using the two-variance approach, what is the controllable variance?
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