A company has the following information for the month of October. The company applies overhead (OH) costs using standard machinehours as the allocation base.Actual ResultsActual variable OH costsActual fixed OH costsActual machine hoursActual outputBudget (for 1,000 units)Variable OHFixed OHBudgeted machine hoursQ. What $360 Favorable$2,500$4,700$1,280 MHS1,100 unitsQ. What was the company's VOH efficiency variance for October?Answer. (Click to select)(Click to select)None of the answers are correct$180 UnfavorableAnswer. $360 Unfavorable$180 Favorable$2,000$4,4001,000 MHSume variance for October?4

Variable Overhead (V-OH) Efficiency Variance is computed using the following formula: -

A company has the following information for the month of October. The company applies overhead (OH) costs using standard machine hours as the allocation base. Actual Results Actual variable OH costs Actual fixed OH costs Actual machine hours Actual output Budget (for 1,000 units) Variable OH Fixed OH Budgeted machine hours $2,500 $4,700 Q. What Answer. $1,280 MHS 1,100 units $2,000 $4,400 1,000 MHS Q. What was the company's VOH efficiency variance for October? Answer. (Click to select) (Click to select) None of the answers are correct $360 Favorable $180 Unfavorable $360 Unfavorable $180 Favorable ume variance for October? A

A company has the following information for the month of October. The company applies overhead (OH) costs using standard machine hours as the allocation base. Actual Results Actual variable OH costs Actual fixed OH costs Actual machine hours Actual output Budget (for 1,000 units) Variable OH Fixed OH Budgeted machine hours $2,500 $4,700 Q. What Answer. $1,280 MHS 1,100 units $2,000 $4,400 1,000 MHS Q. What was the company's VOH efficiency variance for October? Answer. (Click to select) (Click to select) None of the answers are correct $360 Favorable $180 Unfavorable $360 Unfavorable $180 Favorable ume variance for October? A

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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Aspen Technologies has the following budget data: Estimated direct labor hours 8,800 Estimated direct labor dollars $68,500 Estimated factory overhead costs $153,700 If factory overhead is to be applied based on direct labor hours, the predetermined overhead rate is a.$17.47 b.$20.96 c.$26.20 d.$13.97
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Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to determine Smithson's fixed costs per month. Round your final answer to the nearest dollar. Do not round interim calculations. Cost January $26,800 February 38,500 March 28,200 April 30,800 a. $23,329 Ob. $10,978 Oc. $43,914 Od. $13,723 Machine Hours 9,500 18,000 11,700 15,400 ?
4
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Spree Party Lights overhead expenses are: Indirect material, pounds per unit 0.30 Indirect material, cost per pound $2 Indirect labor hours 1 Indirect labor rate per hour $16.50 Variable maintenance per unit $0.70 Variable utilities per unit $0.10 Supervisor salaries $11,000 Maintenance salaries $10,000 Insurance $3,000 Depreciation $1,400 Prepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,400, 3,100, and 2,600, respectively. Spree Party Lights Manufacturing Overhead Budget For the Quarter Ending January - March January February March Units to Produce fill in the blank 1 fill in the blank 2 fill in the blank 3 Variable Costs Indirect Material $fill in the blank 5 $fill in the blank 6 $fill in the blank 7 Indirect Labor fill in the blank 9 fill in the blank 10 fill in the blank 11 Maintenance fill in the blank 13 fill in the blank 14 fill in the blank 15 Utilities…
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Jefferson Inc. has the following information for the month of September. The company applies OH cos standard machine hours as the allocation base Actual Results Actual variable OH costs 6520 $ 2,320 Actual fixed OH costs $ 4,200 Actual machine hours 1,180 MHs Actual output 1,100 units Budget (for 1,000 units) Variable OH 2$ 2,000 Fixed OH $ 4,000 Budged machine hours 1,000 MHs 2 The total manufacturing overhead is underapplied or overapplied by how much? A. Overapplied by B. Underapplied by С. А. 2$ 200 7172 6520 2$ 120 C. Underapplied by D. Overapplied by E. None of the above. $ 320 80
TB MC Qu. 04-97 (Algo) Kay Company budgets overhead... Kay Company budgets overhead cost of $3,645,000 for the next year. The company uses direct labor hours as its overhead allocation base. If hours are planned for the next year, how much overhead would be assigned to a product requiring 4 direct labor hours? Multiple Choice $45.00 $35.00 $180.00 $140.00