Please do not give solution in image format thanku Bulluck Corporation makes a product with the following standard costs:Standard Quantity or HoursDirect materialsDirect laborVariable overheadActual outputRaw materials used in productionActual direct labor-hoursStandard Price or Rate4.80Actual variable overhead rate0.80The company reported the following results concerning this product in July.0.804,300 units12,670Purchases of raw materialsActual price of raw materials purchased $2.50Actual direct labor rate$ 12.70$ 3.403,200 hoursgrams13,400gramsper gramper hourper hourgrams $ 2.30hours $ 24.00$ 3.30hoursper gramper hourper hourThe company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed whenthe materials are purchased.The variable overhead efficiency variance for July is:

Variable Overhead Variance is the difference between standard variable overhead cost for actual…

Bulluck Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials Direct labor Variable overhead Actual output Raw materials used in production Actual direct labor-hours 4.80 The company reported the following results concerning this product in July. 0.80 Actual variable overhead rate 0.80 4,300 units 12,670 Purchases of raw materials Actual price of raw materials purchased $2.50 Actual direct labor rate $ 12.70 $ 3.40 3,200 hours grams 13,400 grams per gram per hour per hour grams $ 2.30 hours $ 24.00 $ 3.30 hours per gram per hour per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead efficiency variance for July is:

Bulluck Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials Direct labor Variable overhead Actual output Raw materials used in production Actual direct labor-hours 4.80 The company reported the following results concerning this product in July. 0.80 Actual variable overhead rate 0.80 4,300 units 12,670 Purchases of raw materials Actual price of raw materials purchased $2.50 Actual direct labor rate $ 12.70 $ 3.40 3,200 hours grams 13,400 grams per gram per hour per hour grams $ 2.30 hours $ 24.00 $ 3.30 hours per gram per hour per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead efficiency variance for July is:

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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