Crystal Glassware Company has the following standards and flexible-budget data. $6 per direct-labor hour 2.0 hours per unit of output Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output Actual results for April are as follows: Actual output Actual variable overhead Actual fixed overhead Actual direct labor $ 114,000 28,500 units 22,800 units $364,800 $ 110,580 57,000 hours

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Use the variance formulas to compute the following variances.

Note: Indicate the effect of the first three variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance). Select "Positive" or "Negative" for the Fixed-overhead Volume variance.

 

1. Variable-overhead spending variance
2. Variable-overhead efficiency variance
3. Fixed-overhead budget variance
4. Fixed-overhead volume variance
Transcribed Image Text:1. Variable-overhead spending variance 2. Variable-overhead efficiency variance 3. Fixed-overhead budget variance 4. Fixed-overhead volume variance
Crystal Glassware Company has the following standards and flexible-budget data.
$6 per direct-labor hour
2.0 hours per unit of output
Standard variable-overhead rate
Standard quantity of direct labor
Budgeted fixed overhead
Budgeted output
Actual results for April are as follows:
Actual output
Actual variable overhead
Actual fixed overhead
Actual direct labor
$ 114,000
$364,800
$ 110,580
28,500 units
22,800 units
57,000 hours
Transcribed Image Text:Crystal Glassware Company has the following standards and flexible-budget data. $6 per direct-labor hour 2.0 hours per unit of output Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output Actual results for April are as follows: Actual output Actual variable overhead Actual fixed overhead Actual direct labor $ 114,000 $364,800 $ 110,580 28,500 units 22,800 units 57,000 hours
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