Fast answering please and Do Not Give Solution In Image Format And explain proper steps by Step. 4. Compute the fixed overhead volume variance. (Round intermediate calculation to 3 decimal places andround your final answer to nearest whole dollar amount.)Answer is complete but not entirely correct.$ 2,280 X FFixed overhead volume variance5. Is there over- or underapplied fixed overhead? (Round intermediate calculation to 3 decimal places andround your final answer to nearest whole dollar amount.)Overapplied> Answer is not complete.✓by Dawson Toys, Ltd. produces a toy called the Maze. The company has recently established a standard costing system to help controlcosts with the following standards for the Maze toy:Direct materials: 8 microns per toy at $3.50 per micronDirect labour: 0.90 hours per toy at $15.00 per hourVariable overhead: 0.90 hours per toy at $6.00 per hourDuring July, the company planned to make 5,300 toys, the normal volume, and produced 5,400 Maze toys. Production data for themonth on the toy follow:Direct materials: 32,330 microns were purchased for use in production at a cost of $3.40 per micron. 11,000 of these microns were stillin inventory at the end of the month.Direct labour: 5,300 direct labour-hours were worked at a cost of $90,100.Variable overhead cost was $33,740, and fixed overhead cost was $60,600. The budget variance for July was $0.

As per the given information: Budgeted or planned production - 5,300 toysActual production - 5,400…

4. Compute the fixed overhead volume variance. (Round intermediate calculation to 3 decimal places and round your final answer to nearest whole dollar amount.) Answer is complete but not entirely correct. $ 2,280 X F Fixed overhead volume variance 5. Is there over- or underapplied fixed overhead? (Round intermediate calculation 3 decimal places and round your final answer to nearest whole dollar amount.) Answer is not complete.

4. Compute the fixed overhead volume variance. (Round intermediate calculation to 3 decimal places and round your final answer to nearest whole dollar amount.) Answer is complete but not entirely correct. $ 2,280 X F Fixed overhead volume variance 5. Is there over- or underapplied fixed overhead? (Round intermediate calculation 3 decimal places and round your final answer to nearest whole dollar amount.) Answer is not complete.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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