A company's flexible budget for 45,000 units of production showed variable overhead costs of $60,750 and fixed overhead costs of $61,000. The company incurred overhead costs of $109,780 while operating at a volume of 37,000 units. The total controllable cost variance is:

A company's flexible budget for 45,000 units of production showed variable overhead costs of $60,750 and fixed overhead costs of $61,000. The company incurred overhead costs of $109,780 while operating at a volume of 37,000 units. The total controllable cost variance is:

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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The variable overhead expenditure and efficiency variances are: PQR has prepared the following standard cost information for one unit of product X: Direct materials 2 kg @ $13/kg Direct labour 3.3 hours @ $12/hour Variable overheads 3.3 hours @ $2.50 Actual results for the period were recorded as follows: 12,000 units Production Materials - 26,400 kg Labour - 40,200 hours Variable overheads $336,600 $506,520 $107,250 * $26.00 $39.60 $8.25
Shaw Company produced 730 units. Its overhead alocation base is DLH and its standard amount per allocation base is 8 DLH per unit its standard overhead rate is $10 per DLH. The flexible overhead budget at an activity level of 730 units shows $28,500 in varlable overhead costs and $32.500 in fixed overhead costs. Compute the volume variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance) Volume Varianee Butpeted eble overhead atuns produced Standard overhead appled Volume variance
Alvarado Company produced 6,200 units of product that required 2.5 standard direct labor hours per unit. The standard variable overhead cost per unit is $3.00 per direct labor hour. The actual variable factory overhead was $47,800. Determine the variable factory overhead controllable variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
Venneman Company produced 14,000 units of product that required 4 standard hours per unit. The standard fixed overhead cost per unit is $0.95 per hour at 55,000 hours, which is 100% of normal capacity. Determine the fixed factory overhead volume variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.$
The overhead volume variance of Modern Art, Inc. is $60,600 favorable. It indicates: Actual production exceeded the normal volume of output. Variable overhead per unit has exceeded the standard amount budgeted. Actual production was less than the normal volume of output. Total fixed overhead was less than the standard amount budgeted.
Tucker Company produced 7,400 units of product that required 3.40 standard hours per unit. The standard variable overhead cost per unit is $5.00 per hour. The actual variable factory overhead was $123,280. Determine the variable factory overhead controllable variance. Enter a favorable variance as a negative number.
The following data relate to factory overhead cost for the production of 5,000 computers: Variable factory overhead $141,900 Fixed factory overhead 46,000 5,000 hrs. at $35 175,000 If productive capacity of 100% was 8,000 hours and the total factory overhead cost budgeted at the level of 5,000 standard hours was $192,250, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and totalfactory overhead cost variance. The fixed factory overhead rate was $5.75 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variance Amount Favorable/Unfavorable Actual: Standard: Controllable variance. Volume variance Total factory overhead cost variance $ $ $
The following data relate to factory overhead cost for the production of 4,000 computers: Actual: Variable factory overhead $139,700 Fixed factory overhead 36,000 Standard: 4,000 hrs. at $42 168,000 If productive capacity of 100% was 6,000 hours and the total factory overhead cost budgeted at the level of 4,000 standard hours was $180,000, determine the variable factory overhead Controllable Variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $6 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variance Amount Favorable/Unfavorable Controllable variance $ Volume variance $ Total factory overhead cost variance $
Titus Company produced 6,800 units of a product that required 3 standard hours per unit. The standard fixed overhead cost per unit is $1.70 per hour at 20,600 hours, which is 100% of normal capacity. Determine the fixed factory overhead volume variance. Enter a favorable variance as a negative number. Round your answer to the nearest dollar.
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