Actual variable overhead$10,000Budgeted variable overhead $12,000Budgeted productionActual productionActual hours500units450 units200Standard time for 1 unit30minutesAmong the given options, determine variable overhead efficiency variance.a. $1,200 favorable.b. $1.200 unfavorablec. $1,250 favorabled. $2.400 favorable

Name: Actual variable overhead$10,000Budgeted variable overhead $12,000Budg
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Description: Actual variable overhead$10,000Budgeted variable overhead $12,000Budgeted productionActual productionActual hours500units450 units200Standard time for 1 unit30minutesAmong the given options, determine variable overhead efficiency variance.a. $1,200

Formulae for variable overhead efficiency variance Variable overhead efficiency variaance= Actual…

Business

Accounting

Actual variable overhead $10,000 Budgeted variable overhead $12,000 Budgeted production Actual production 500 units 450 units Actual hours 200 Standard time for 1 unit 30 minutes Among the given options, determine variable overhead efficiency variance.

Actual variable overhead $10,000 Budgeted variable overhead $12,000 Budgeted production Actual production 500 units 450 units Actual hours 200 Standard time for 1 unit 30 minutes Among the given options, determine variable overhead efficiency variance.

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
119. Fixed overhead efficiency variance is nearest toA. P710 U B. P730 UC. P740 UD. P790 U
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Anderson Manufacturing incurred variable overhead costs of $14,500 and fixed overhead costs of $12,600. How much actual overhead will be used in the total overhead variance calculation? $27,100 $14,500 $1,900 O $12,600 Save for Later Submit Answer
Overhead costs are applied using direct labour hours. The following were budgeted for the year: Planned production (units) 50,000 Direct labour hours 200,000 Variable overhead 1,000,000 Fixed overhead 600,000 The following were the actual results: Actual production (units) 48,000 Direct labour hours 195,000 Variable overhead 950,000 Fixed overhead 610,000 Calculate the variable overhead efficiency variance. Select one: a. $15,000 U b. $25,000 U c. $25,000 F d. $15,000 F
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Hh2.
4.2.1 Calculate the material quantity variance. 4.2.2 Calculate the variable manufacturing overhead efficiency variance. 4.2.3 Fixed manufacturing overhead volume variance.