Compute the variable overhead spending variance Based on the information below, compute the variable overhead spendingvariance.BudgetActualProduction500 units (3 machine hours 550 units, 1,600 machineallowed per unit)Variable overhead $6 per machine hourratehours used$4 per machine hour

Explanation of Variable Overhead Spending Variance:Variable overhead spending variance measures the…

Answered: Based on the information below, compute…

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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Ocean Company makes calendars. Information on cost per unit is as follows: Direct materials $1.50 Direct labor 1.20 Variable overhead 0.90 Variable marketing expense 0.40 Fixed marketing expenses totaled $12,000 and fixed administrative expenses totaled $32,000. The price per calendar is $15. What is the contribution margin per unit?
Paney Company makes calendars. Information on cost per unit is as follows: Direct materials $1.50 Direct labor 1.20 Variable overhead 0.90 Variable marketing expense 0.40 Fixed marketing expense totaled $13,000 and fixed administrative expense totaled $35,000. The price per calendar is $10. What is the variable cost per unit? a. $4.00 b. $3.70 c. $4.60 d. $5.00 e. $1.30
Can you please answer this general account query.??
The following data is used for questions 5.8 and 5.9 Budgeted machine hours 8,500 Budgeted overhead costs £148,750 Actual machine hours 7,928 Actual overhead costs £146,200 5.8 Based on the data given above, the machine hour overhead absorption rate is: Select one: A. £17.50 B. £17.20 C. £18.44 D. £18.76 5.9 Based on the data given above, the amount of overhead under/over absorbed is: Select one: A. £2,550 under-absorbed B. £2,529 over-absorbed C. £2,550 over-absorbed D. £7,460 under-absorbed
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budgeted factory overhead cost OMR 30,000, budgeted direct labour cost OMR 4500, direct labour hours 150, and budgeted machine hours 400,then calculate factory overhead rate using: a direct labour cost method b direct labour hour method c machine horse rate method d explain the difference between manufacturing cost and factory overhead with example
Ocean Company makes calendars. Information on cost per unit is as follows: Direct materials $1.50 Direct labor 1.20 Variable overhead 0.90 Variable marketing expense 0.40 Fixed marketing expenses totaled $12,000 and fixed administrative expenses totaled $32,000. The price per calendar is $15. What is the break-even point in units?
Given the following information, determine the product cost of one unit: Direct Materials = $60: Direct labor = $10; Apply Overhead based on $2 per Direct Labor hour; Direct labor hours is 4 hours per unit. O $70 per unit O $80 per unit O $78 per unit $85 per unit
please answer correctly and explain in detail with computation, explanation, formula of numbers for both batrs step by step for better understanding thanks answer in text
Using the information below, what is the cost per unit under both variable and absorption costing? Production 90,000 units Direct Materials $110 Direct Labor $150 Variable Manufacturing Overhead $75 Fixed Manufacturing Overhead $2,700,000
Interpreting Cost Formula Wylie Enterprises' controller, Josh Senior, estimated the following formula, based on monthly data, for total overhead cost: Overhead costs = $173,500+ ($43.50 x Direct labor hours) Required 1) Link each term in Column A to the corresponding term in Column B Column B Column A Overhead cost $173,500 $43.50 Direct labor hours 2) If next month's budgeted direct labor hours equal 8,000, and are within the relevant range, what is the budgeted overhead cost? $0 → ◆ 3) If next quarter's budgeted direct labor hours equal 26,000, and are within the relevant range, what is the budgeted overhead cost? $0 4) If next year's budgeted direct labor hours equal 101,250, and are within the relevant range, what is the budgeted overhead cost? $0
Cheng Company reports the following information. Direct labor rate. Non-materials-related overhead Materials-related overhead Target profit margin (on both conversion and direct materials) Determine its (a) time charge per hour of direct labor and (b) materials markup percentage. (a) Time charge per hour of direct labor (b) Materials markup $ 200 per DLH per DLH $30 22% of direct materials costs 30 % %

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Based on the information below, compute the variable overhead spending variance. Budget Actual Production 500 units (3 machine hours 550 units, 1,600 machine allowed per unit) Variable overhead $6 per machine hour rate hours used $4 per machine hour