25) What is the standard for Fixed Overhead per unit ? Question 26 26) What is the Volume-Variance for Fixed Overhead ? Question 27 27) The Volume Variance for Fixed Overhead is Favorable. True False

FINANCIAL ACCOUNTING
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Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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25) What is the standard for Fixed Overhead per unit ?
Question 26
26) What is
he Volume-Variance for Fixed Overhead ?
Question 27
27) The Volume Variance for Fixed Overhead is Favorable.
True
False
Transcribed Image Text:25) What is the standard for Fixed Overhead per unit ? Question 26 26) What is he Volume-Variance for Fixed Overhead ? Question 27 27) The Volume Variance for Fixed Overhead is Favorable. True False
At the beginning of the year, you estimated the following -
Production - 75,000 units
Raw Material - 270,000 pounds at a cost of $1,026,000
Direct Labor - 187,500 hours at a cost of $4,125,000
Variable Overhead - 135,000 machine hours at a cost of $567,000
Fixed Overhead - $900,000
At the end of year, the actual results were as follows -
Production - 73,000 units
Raw Material - 265,720 pounds purchased and used at a cost of $1,036,308
Direct Labor - 179,580 hours at a cost of $3,968,718
Variable Overhead - 133,590 machine hours at a cost of $558,406.20
Fixed Overhead - $891,000
Transcribed Image Text:At the beginning of the year, you estimated the following - Production - 75,000 units Raw Material - 270,000 pounds at a cost of $1,026,000 Direct Labor - 187,500 hours at a cost of $4,125,000 Variable Overhead - 135,000 machine hours at a cost of $567,000 Fixed Overhead - $900,000 At the end of year, the actual results were as follows - Production - 73,000 units Raw Material - 265,720 pounds purchased and used at a cost of $1,036,308 Direct Labor - 179,580 hours at a cost of $3,968,718 Variable Overhead - 133,590 machine hours at a cost of $558,406.20 Fixed Overhead - $891,000
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