4. Using the four-variance approach, what is the volume variance? a. P 6,930 U b. P 13,260 U с. РО d. P 2,640 F 5. Using the three-variance approach, what is the spending variance? b. P 23,850 F c. P 14,280 F a. P 23,850 U d. P 14,280 U 6. Using the three-variance approach, what is the efficiency variance? b. P 2,200 F а. Р 11,770 F c. P7,975 U d. P5,775 U
4. Using the four-variance approach, what is the volume variance? a. P 6,930 U b. P 13,260 U с. РО d. P 2,640 F 5. Using the three-variance approach, what is the spending variance? b. P 23,850 F c. P 14,280 F a. P 23,850 U d. P 14,280 U 6. Using the three-variance approach, what is the efficiency variance? b. P 2,200 F а. Р 11,770 F c. P7,975 U d. P5,775 U
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:STANDARD COSTING ASSIGNMENT ( SOLVE ONLY 1- 17)||
1-10 Spots Inc. uses a standard cost system for its production process. Spots applies
overhead based on direct labor hours. The following information is available for July:
Standard:
Actual:
Direct labor hours per unit
Variable overhead per hour
Fixed overhead per hour (based on 11,990 DLH) P3.00
2.20
Units produced
Direct labor hours
4,400
8,800
P29,950
P42,300
P 2.50
Variable overhead
Fixed overhead
Transcribed Image Text:4. Using the four-variance approach, what is the volume variance?
а. Р 6,930 U b. Р 13,260 U
d. P 2,640 F
с. РО
5. Using the three-variance approach, what is the spending variance?
b. P 23,850 F
а. Р 23,850 U
c. P 14,280 F
d. P 14,280 U
6. Using the three-variance approach, what is the efficiency variance?
a. P 11,770 F b. P 2,200 F
c. P7,975 U
d. P 5,775 U
www ww
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education