Good night I need help with this question A manufacturing company with only one product has established the following standards for its variable manufacturing overhead. The company bases its variable manufacturing overhead standards on direct labor-hours.- **Standard hours per unit of output:** 3.20 direct labor-hours- **Standard variable overhead rate:** $10.55 per direct labor-hourThe following data pertain to operations for the last month:- **Actual direct labor-hours:** 9,400 direct labor-hours- **Actual total variable manufacturing overhead cost:** $95,788- **Actual output:** 2,700 units**Question:** What is the variable overhead efficiency variance for the month?**Multiple Choice:**- $4,272 U- **$7,573 F** (Selected)- $7,573 U- $8,018 U**Explanation:**To calculate the variable overhead efficiency variance, use the formula:\[ \text{Variable Overhead Efficiency Variance} = (\text{Standard Hours for Actual Output} - \text{Actual Hours}) \times \text{Standard Rate} \]- Standard Hours for Actual Output = Actual Output × Standard hours per unit- = 2,700 units × 3.20 hours/unit = 8,640 hours- Actual Hours = 9,400 hours- Standard Rate = $10.55\[ \text{Variance} = (8,640 - 9,400) \times 10.55 = -760 \times 10.55 = -$8,018 \]This is an unfavorable variance (U) because actual hours exceed the standard hours allowed for the actual output. Thus, the correct answer is $8,018 U.

Given: Standard hours per unit = 3.20 DLH Standard variable overhead rate =$10.55 Actual labor hours…

A manufacturing company that has only one product has established the following standards for Its varlable manufacturing overhead. The company bases Its varlable manufacturing overhead standards on direct labor-hours. 3. 20 direct 1labor-hours Standard hours per unit of output Standard variable overhead rate $10.55 per direct labor-hour The follawing data pertain to operations for the last month: Actual direct labor-hours 9,400 direct labor-hours $ 95,780 Actual total variable manufacturing overhead cost Actual output 2,700 units What is the veariable overhesd efficlency veriance for the month? Multiple Choic $4.272 U $7.573 $7.573U

A manufacturing company that has only one product has established the following standards for Its varlable manufacturing overhead. The company bases Its varlable manufacturing overhead standards on direct labor-hours. 3. 20 direct 1labor-hours Standard hours per unit of output Standard variable overhead rate $10.55 per direct labor-hour The follawing data pertain to operations for the last month: Actual direct labor-hours 9,400 direct labor-hours $ 95,780 Actual total variable manufacturing overhead cost Actual output 2,700 units What is the veariable overhesd efficlency veriance for the month? Multiple Choic $4.272 U $7.573 $7.573U

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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