A company uses a standard costing system and applies overhead to production based on direct labor-hours. It provided the following information for its most recent year: Total budgeted fixed overhead cost for the year Actual fixed overhead cost for the year $300,000 $291,000 Budgeted direct labor-hours 60,000 Actual direct labor-hours 56,000 Standard direct labor-hours allowed for the actual output 58,000 What is the fixed overhead budget variance? Multiple Choice $10,000 F $9,000 F $10,000 U

A company uses a standard costing system and applies overhead to production based on direct labor-hours. It provided the following information for its most recent year: Total budgeted fixed overhead cost for the year Actual fixed overhead cost for the year $300,000 $291,000 Budgeted direct labor-hours 60,000 Actual direct labor-hours 56,000 Standard direct labor-hours allowed for the actual output 58,000 What is the fixed overhead budget variance? Multiple Choice $10,000 F $9,000 F $10,000 U

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Description: A company uses a standard costing system and applies overhead to production based on direct labor-hours. It provided the following information forits most recent year:Total budgeted fixed overhead cost for the yearActual fixed overhead cost for the

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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AGL Inc. provided the following data related to the direct labor costs for the current period Rate Hours Standard $17.50 12,000 Actual $15.50 14,000 Determine the direct labor time/efficiency variance O $28,000 unfavorable O $35,000 favorable O $35,000 unfavorable O -$28,000 favorable Previous Next