25) What is the standard for Fixed Overhead per unit ?Question 2626) What ishe Volume-Variance for Fixed Overhead ?Question 2727) The Volume Variance for Fixed Overhead is Favorable.TrueFalse At the beginning of the year, you estimated the following -Production - 75,000 unitsRaw Material - 270,000 pounds at a cost of $1,026,000Direct Labor - 187,500 hours at a cost of $4,125,000Variable Overhead - 135,000 machine hours at a cost of $567,000Fixed Overhead - $900,000At the end of year, the actual results were as follows -Production - 73,000 unitsRaw Material - 265,720 pounds purchased and used at a cost of $1,036,308Direct Labor - 179,580 hours at a cost of $3,968,718Variable Overhead - 133,590 machine hours at a cost of $558,406.20Fixed Overhead - $891,000

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Description: 25) What is the standard for Fixed Overhead per unit ?Question 2626) What ishe Volume-Variance for Fixed Overhead ?Question 2727) The Volume Variance for Fixed Overhead is Favorable.TrueFalse At the beginning of the year, you estimated the following

Given, Fixed Overheads (Standard) = $ 900000 Budgeted Production = 75000 units Fixed OH…

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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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Wetherbee Tech Services (WTS) is a chain of computer maintenance technicians for households and small businesses. The following data are available for last year's services: • WTS recorded 120,900 tech calls last year. It had budgeted 126,800 calls, averaging 90 minutes each. • Standard variable labor and support costs per tech call were as follows: Direct IT specialist services: 90 minutes at $54 per hour Variable support staff, supplies, and overhead: 30 minutes at $24 per hour Fixed overhead costs: Annual budget $4,141,800 • Fixed overhead is applied at the rate of $36.00 per call. . Actual tech service call costs: Direct IT specialist services: 120,900 calls averaging 84 minutes at $56.00 per hour Variable support staff, supplies, and overhead: averaging 40 minutes per call at $22.50 per hour x 120,900 calls Fixed overhead Required: a. Prepare a cost variance analysis for each variable cost for last year. b. Prepare a fixed overhead cost variance analysis. Complete this question by…
а. Standard Cost per Unit for Direct Materials and Direct Labor b. Direct Materials Price Variance Wrong Direct Materials Quantity Variance Wrong Total Direct Materials Cost Variance Wrong с. Direct Labor Rate Variance Wrong Direct Labor (Time) Efficiency Variance Wrong Total Direct Labor Cost Variance Wrong
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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
Which type of cost has an unchanging total expense and a decreasing average expense as output increases?
Least-squares regression is a statistical method for identifying cost behavior. True or False True
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