Calculate the activity variances for March. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavor zero variance). Input all amounts as positive values. FAB Corporation Activity Variances For the Month Ended March 31 Utilities F Maintenance Supplies F Indirect labor F Depreciation None Total F

Calculate the activity variances for March. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavor zero variance). Input all amounts as positive values. FAB Corporation Activity Variances For the Month Ended March 31 Utilities F Maintenance Supplies F Indirect labor F Depreciation None Total F

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead

Section: Chapter Questions

Problem 23E: (Appendix) Calculating factory overhead: three variances Using the data given in E8-17, calculate...

See similar textbooks

Similar questions

You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president asked you to review the company's costing system and "do what you can to help us get better control of our manufacturing overhead costs." You find the company has never used a flexible budget, and you suggest preparing such a budget would be an excellent first step in overhead planning and control. After much effort and analysis, you estimated the following cost formulas and gathered the following actual cost data for March: Utilities Maintenance Supplies Indirect labor Depreciation Cost Formula $16,000+ $0.19 per machine-hour $38,500+ $1.30 per machine-hour $0.90 per machine-hour During March, the company worked 20,000 machine-hours and produced 14,000 units. The company originally planned to work 22,000 machine-hours during March. Required: 1. Calculate the activity variances for March. 2. Calculate the spending variances for March. $94,800+ $1.70 per…
dont give answer in inage format
1. Summarize the variances that you computes in (1) above by showing the net overall favorable or unfavorable variances for the month. What impact did this figure have on the company's income statement? Show computations 2.Pick out the two most significant variances that you computed in (1) above. Explain tMs. Dunn possible causes of these variances.
Marvel Parts, Inc., manufactures auto accessories. One of the company's products is a set of seat covers that can be adjusted to fit nearly any small car. The company has a standard cost system in use for all of its products. According to the standards that have been set for the seat covers, the factory should work 1,030 hours each month to produce 2,060 sets of covers. The standard costs associated with this level of production are: Per Set Total of Covers Direct materials $39,140 $ 19.00 Direct labor $ 9,270 4.50 Variable manufacturing overhead (based on direct labor-hours) $ 3,502 1.70 $25.20
H
Anker Company had the data below for its most recent year, ended December 31: Required: Prepare a performance report that shows the variances on an item-by-item basis.
Income statement indicating standard cost variances The following data were taken from the records of Griggs Company for December: Prepare an income statement for presentation to management.
(Appendix) Calculating factory overhead: three variances Using the data given in E8-17, calculate the following overhead variances: a. Spending variance. b. Production-volume variance. c. Efficiency variance. d. Was the factory overhead under- or overapplied? By what amount? In all problems involving variances, use F and U to indicate favorable and unfavorable variances, respectively.
2. For the month of January, compute the following variances.
dont give handwritten answer thanku
Please do not give solution in image format thanku
Please do not give solution in image format thanku