5. Compute the underapplied or overapplied overhead for the month. (Round intermediate calculations and roundfinal answer to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" forunfavorable, and "None" for no effect (i.e., zero variance).)Total variable overhead varianceTotal fixed overhead varianceThe totalUnderappliedFUoverhead is Gail Cleaners produces a commercial cleaning compound known as Carpex. The direct materials and direct labour standards for one unit of Carpex follow: Standard Quantity orHours Standard Price or Rate Standard Cost Direct materials 4.10 kilograms $ 2.20 per kilogram $ 9.02 Direct labour 0.42 hour $ 8.00 per hour a 3.36 Variable overhead 0.42 hour $1.30 per hour 0.55 The budgeted fixed overhead cost is $14, 619 per month. The denominator activity level of the allocation base is 1,596 direct labour - hours. During the mostrecent month, the following activity was recorded: a. 9, 100 kilograms of material were purchased at a cost of $2.22 per kilogram. b. All of the material purchased was used toproduce 3,800 units of Zoom. c. A total of 790 hours of direct labour time was recorded at a total labour cost of 9,243. d. The variable overhead cost was $1,580, and the fixedoverhead cost was $31, 713.

Total variable overhead variance : > The difference between Actual variable overhead and Standard…

5. Compute the underapplied or overapplied overhead for the month. (Round intermediate calculations and round final answer to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Total variable overhead variance Total fixed overhead variance F

5. Compute the underapplied or overapplied overhead for the month. (Round intermediate calculations and round final answer to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Total variable overhead variance Total fixed overhead variance F

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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please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
3. Compute the direct labor variance, including its rate and efficiency variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to two decimal places.) The drop down options under "actual cost" "standard cost" and the middle box for the first row are: actual rate, standard rate The drop down options for the left bottom 3 rows are: total variable overhead cost variance, variable overhead efficiency variance, variable overhead spending variance, volume variance, direct material variance, Direct labor efficiency variance, direct labor rate variance, direct materials price variance, direct materials quantity variance. the drop down options for the right yellow 3 columns are: favorable, unfavorable, no variance please use the exact format as shown in photos. Thank you !
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7 part 4
The direct labor rate variance is calculated by multiplying the standard hours that should have been worked for the actual output by the difference between the standard labor rate and the actual labor rate. O True O False
For each of the following independent cases, fill in the missing amounts: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your per unit rates to 2 decimal places. Round your other final answers to the nearest whole numbers. Units produced Standard hours per unit Standard hours Standard rate per hour Actual hours worked Actual labor cost Direct labor rate variance Direct labor efficiency variance Casey Company 2,800 5.10 $ $ 31.70 13,500 5,200 F Kevin, Incorporated $ $ 1.70 2,890 3,005 2,900 F 1,518 U $ $ $ Jess Company 200 660 10.00 6,500 200 U Valerie, Incorporated $ 1,000 10.00 15,200 $ 140,000 $ 5,800 U
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Subject-Acounting
Primara Corporation has a standard costing system in which it applies overhead to products on the basis of the standard direct labour- hours allowed for the actual output of the period. Data concerning the most recent year appear below: Total budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted standard direct labour-hours (denominator level of activity) Actual direct labour-hours Standard direct labour-hours allowed for the actual output $ 500,000 $ 508,000 50,000 54,000 52,000 Required: 1. Compute the fixed portion of the predetermined overhead rate for the year. Predetermined overhead rate per DLH
M8(7)
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Aaha Inc. produces premium protective automotive covers. The direct materials and direct labour standards for one car cover are as follows: Standard Quantity or Hours Direct materials Direct labour 7.00 metres of cloth 0.30 hours Standard Price or Rate $8 per metre $ 16 per hour Standard Cost $56.00 $4.80 In September, the following activity was recorded: 17,500 metres of cloth were purchased at a cost of $7.50 per metre All of the purchased material was used to produce 2,500 car covers. 520 direct labour-hours were recorded at a total labour cost of $8,320. Required: 1. Compute all direct materials variances for September (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (ie., zero variance).) Answer is complete and correct. Direct materials price variance Direct materials quantity variance Total direct material cost variance $ 8,750 F $ $ 8,750 ( 0 None F 000