f. Calculate the variable overhead spending variance for Job Alpha g. Calculate the variable overhead efficiency variance for Job Alpha h. What is the company’s fixed overhead spending variance 6. A company has the following information for Job Alpha during July:Units produced1,000Actual materials used (and purchased)$5,250 Ibs.Actual materials cost4.80 per Ib.Actual labor hours incurred2,552Actual labor rate$ 21.25 per hourWork in process, July 1Work in process, July 31The company applies manufacturing overhead to jobs based on direct labor hours.Additional information for the company in July is as follows:Total estimated labor hours45,232Standard materials per unit5.00 Ibs.Standard materials cost$5.00 per Ib.Standard labor hours per unit2.75 hoursStandard labor rate$22.00 per hourStandard variable overhead3.00 per labor hourStandard fixed overhead*5.00 per labor hour*based on 45,232 labor hoursActual total output in units16,500Actual total labor hours43,7252.90 per labor hour$ 220,000Actual variable overheadActual total fixed overhead

Name: f. Calculate the variable overhead spending variance for Job Alpha g.
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Description: f. Calculate the variable overhead spending variance for Job Alpha g. Calculate the variable overhead efficiency variance for Job Alpha h. What is the company’s fixed overhead spending variance 6. A company has the following information for Job Alp

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Business

Accounting

Calculate the variable overhead spending variance for Job Alpha g. Calculate the variable overhead efficiency variance for Job Alpha h. What is the company’s fixed overhead spending variance

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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