Brian was working away at his first attempt at variance analysis for his manufacturing company. He filled in variable and fixed-M costs where he saw fit, before actually calculating the related price, efficiency, and volume variarices. Since he was focusing on the overhead costs specifically, he made note of the allocation base being used, machine hours. Here is his work so far: Variable-MOH Fixed MOH Actual Variable. MOH Cost $16,700 Fixed-MOH Master Budget $27,250 Variable-MOH Flexible Budget $15.650 Applied Fixed- MOH Cost $26,750 Applied Variable- MOH Cost $15,650 Actual Fixed- MOH Cost $24,300

Brian was working away at his first attempt at variance analysis for his manufacturing company. He filled in variable and fixed-M costs where he saw fit, before actually calculating the related price, efficiency, and volume variarices. Since he was focusing on the overhead costs specifically, he made note of the allocation base being used, machine hours. Here is his work so far: Variable-MOH Fixed MOH Actual Variable. MOH Cost $16,700 Fixed-MOH Master Budget $27,250 Variable-MOH Flexible Budget $15.650 Applied Fixed- MOH Cost $26,750 Applied Variable- MOH Cost $15,650 Actual Fixed- MOH Cost $24,300

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 4MC: This variance is the difference involving spending more or using more than the standard amount. A....

See similar textbooks

Similar questions

When is the material price variance unfavorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price
b. Calculate the profit variance c. Calculate the total revenue variance. d) Calculate the revenue volume variance. e) Calculate the revenue price variance. f) Calculate the total cost variance.
Variance percentage is calculated by dividing the choose your answer... by the choose your answer...
1. Please, compute mean returns, variances and covariance among the two assets of the IBEX35 and present the vector of returns and the matrix.
When is the direcet labor time variance unfavorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price paid is less than the standard price
please solve for these questions: b-1. What is the labor efficiency variance? b-2. What is the labor rate variance? c-1. What is the variable overhead efficiency variance? c-2. What is the variable overhead rate variance?
STANDARD COSTING ASSIGNMENT ( SOLVE ONLY 1- 17)|| 1-10 Spots Inc. uses a standard cost system for its production process. Spots applies overhead based on direct labor hours. The following information is available for July: Standard: Actual: Direct labor hours per unit Variable overhead per hour Fixed overhead per hour (based on 11,990 DLH) P3.00 2.20 Units produced Direct labor hours 4,400 8,800 P29,950 P42,300 P 2.50 Variable overhead Fixed overhead
Subject:
a-1. What is the materials quantity variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). a-2. What is the materials price variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). b-1. What is the labor efficiency variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance)). b-2. What is the labor rate variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your final answer to nearest whole dollar amount.) c-1. What is the variable overhead efficiency variance? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect…
When is the direct labor time variance favorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price paid is less than the standard price
In terms of Porfolio Variance calculation/formula of 0.02819 your computation is different than mine of 0.8733428592 based on the formula you provided. Can you explain on how did you get the 0.02819 portfolio variance
In 2 way variance analysis, materials, labor and variable overhead variances maybe broken down to ________ variances. A. Price and spending B. Quantity and time C. spending and efficiency D. spending and capacity