E9-13 (Static) Calculating Variable Manufacturing Overhead Variances [LO 9-5]Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours, Information fromLLL's standard cost card follows:Variable manufacturingoverheadStandard StandardRateQuantity0.6$0.80Units produced and soldActual variable overheadActual direct labor hoursDuring August, LLL had the following actual results:25,000$ 9,49016,000StandardUnit Cost$0.48Required:Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and over- or underapplied variable overhead.(Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.and "None" for no effect (i.e., zero variance).)Variable overhead rate varianceVariable overhead efficiency varianceVariable overhead spending variance

Name: E9-13 (Static) Calculating Variable Manufacturing Overhead Variances
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Description: E9-13 (Static) Calculating Variable Manufacturing Overhead Variances [LO 9-5]Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours, Information fromLLL's standard cost card follows:Variable

The variance is the difference between the actual and standard production data. The variance can be…

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E9-13 (Static) Calculating Variable Manufacturing Overhead Variances [LO 9-5] Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information from LLL's standard cost card follows: Variable manufacturing overhead Rate Unit Cost Standard Standard Standard Quantity 0.6 $0.80 $0.48 During August, LLL had the following actual results: Units produced and sold Actual variable overhead Actual direct labor hours 25,000 $ 9,490 16,000 Required: Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and over- or underapplied variable overhear

E9-13 (Static) Calculating Variable Manufacturing Overhead Variances [LO 9-5] Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information from LLL's standard cost card follows: Variable manufacturing overhead Rate Unit Cost Standard Standard Standard Quantity 0.6 $0.80 $0.48 During August, LLL had the following actual results: Units produced and sold Actual variable overhead Actual direct labor hours 25,000 $ 9,490 16,000 Required: Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and over- or underapplied variable overhear

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Direct materials Direct labor Variable overhead The company reported the following results concerning this product in August. Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials purchased Actual direct labor rate Actual variable overhead rate Hours 3.5grams 0.7hours 0.7hours 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 August is: $ Rate $1.00 Per gram $ 11.00 Per hour $ 2.00 Per hour 3,000units 11,370grams 1,910hours 12,100grams 1.20per gram $11.40per hour $ 2.10per hour
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Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Exercise 21-9 (Algo) Direct materials variances LO P3 Standard Quantity and Cost 6 pounds @ $9 per pound 3 DLH @ $17 per DLH 3 DLH @ $11 per DLH AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Actual Cost Actual Results 45,500 pounds @ $9.20 per pound 22,300 hours @ $17.50 per hour $ 254,300 Compute the (1) direct materials price variance and (2) direct materials quantity variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Cost per unit" answers to 2 decimal places.) 7,500 units Standard Cost
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