Bramble Company manufactures deep-sea fishing rods, which it distributes internationally through a chain of wholesalers. The following data are taken from the budget prepared at the beginning of the year by Bramble's controller. The company applies overhead on the basis of machine hours. Variable manufacturing overhead Fixed manufacturing overhead Direct labor hours Machine hours Annual Budget $2,072,800 $1,202,400 48,000 259,100 May Budget $184,000 $100,200 4,000 23,000 During the month of May, Bramble used 4,470 direct labor hours and 21,640 machine hours. The flexible budget for the month allowed 4,060 direct labor hours and 21,210 machine hours. Actual fixed manufacturing overhead incurred was $109,700; variable manufacturing overhead incurred was $171,520. (a) Calculate the variable overhead spending and efficiency variances for May. (Round per unit value to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 5,725. If variance is zero, select "Not Applicable" and enter O for the amounts.)

Bramble Company manufactures deep-sea fishing rods, which it distributes internationally through a chain of wholesalers. The following data are taken from the budget prepared at the beginning of the year by Bramble's controller. The company applies overhead on the basis of machine hours. Variable manufacturing overhead Fixed manufacturing overhead Direct labor hours Machine hours Annual Budget $2,072,800 $1,202,400 48,000 259,100 May Budget $184,000 $100,200 4,000 23,000 During the month of May, Bramble used 4,470 direct labor hours and 21,640 machine hours. The flexible budget for the month allowed 4,060 direct labor hours and 21,210 machine hours. Actual fixed manufacturing overhead incurred was $109,700; variable manufacturing overhead incurred was $171,520. (a) Calculate the variable overhead spending and efficiency variances for May. (Round per unit value to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 5,725. If variance is zero, select "Not Applicable" and enter O for the amounts.)

Name: Bramble Company manufactures deep-sea fishing rods, which it distribu
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Description: Bramble Company manufactures deep-sea fishing rods, which it distributes internationally through a chain of wholesalers. Thefollowing data are taken from the budget prepared at the beginning of the year by Bramble's controller. The company applies o

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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