Complete the table belovw for the missing variances. E (Click the icon to view the table.) Calculate the variances and identify whether the variance is favorable (F) or unfavorable (U). (b) Total Direct Materials Variance (c) Total Direct Labor Variance Data Table (e) Total Variable Overhead Variance () Total Fixed Overhead Variance (d) Total Manufacturing Overhead Variance Total Flexible Budget Product Cost Variance (a) Total Flexible Budget Product Cost Variance (a) Total Direct Total Direct Total Manufacturing Materials Variance Overhead Variance Labor Variance (b) (c) (d) Direct Materials Direct Materials Direct Labor Direct Labor Total Variable Total Fixed Cost Variance Efficiency Variance Cost Variance Efficiency Variance $ 340 U S 520 F Overhead Variance Overhead Variance $ 420 F 165 U (e) (0 Variable Overhead Variable Overhead Fixed Overhead Cost Variance Efficiency Variance Cost Variance 225 U 400 F 24 75 F Print Done
Complete the table belovw for the missing variances. E (Click the icon to view the table.) Calculate the variances and identify whether the variance is favorable (F) or unfavorable (U). (b) Total Direct Materials Variance (c) Total Direct Labor Variance Data Table (e) Total Variable Overhead Variance () Total Fixed Overhead Variance (d) Total Manufacturing Overhead Variance Total Flexible Budget Product Cost Variance (a) Total Flexible Budget Product Cost Variance (a) Total Direct Total Direct Total Manufacturing Materials Variance Overhead Variance Labor Variance (b) (c) (d) Direct Materials Direct Materials Direct Labor Direct Labor Total Variable Total Fixed Cost Variance Efficiency Variance Cost Variance Efficiency Variance $ 340 U S 520 F Overhead Variance Overhead Variance $ 420 F 165 U (e) (0 Variable Overhead Variable Overhead Fixed Overhead Cost Variance Efficiency Variance Cost Variance 225 U 400 F 24 75 F Print Done
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Help
Transcribed Image Text:Complete the table below for the missing variances.
E (Click the icon to view the table.)
Calculate the variances and identify whether the variance is favorable (F) or unfavorable (U).
(b) Total Direct Materials Variance
(c) Total Direct Labor Variance
Data Table
(e) Total Variable Overhead Variance
(f) Total Fixed Overhead Variance
(d) Total Manufacturing Overhead Variance
Total Flexible Budget Product Cost Variance
(a) Total Flexible Budget Product Cost Variance
(a)
Total Direct
Total Direct
Total Manufacturing
Materials Variance
Labor Variance
Overhead Variance
(b)
(c)
(d)
Direct Materials
Direct Materials
Direct Labor
Direct Labor
Total Variable
Total Fixed
Cost Variance
Efficiency Variance
Cost Variance
Efficiency Variance
Overhead Variance
Overhead Variance
$ 420 F
165 U
$
340 U
$
520 F
(e)
(f)
Variable Overhead
Variable Overhead
Fixed Overhead
Cost Variance
Efficiency Variance
Cost Variance
$
225 U
$
400 F
$
75 F
Print
Done
Expert Solution
Step 1
Direct labor total cost variance shows the impact of any overall change in the amount spent on labor, and it has 2 components- the labor rate and the labor efficiency variances.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education