## Exercise 10A-4 (Algo) Fixed Overhead Variances [LO10-4]### OverviewThis exercise provides selected operating information on three different companies for a recent year. Analyze the variances in machine-hours to determine whether they are favorable, unfavorable, or have no effect.### Data Table| | Company A | Company B | Company C ||-----------------------|-----------|-----------|-----------|| Full-capacity machine-hours | 33,000 | 22,000 | 23,000 || Budgeted machine-hours* | 32,000 | 21,200 | 23,000 || Actual machine-hours | 32,000 | 21,400 | 22,000 || Standard machine-hours allowed for actual production | 32,500 | 20,600 | 23,000 |\*Denominator activity for computing the predetermined overhead rate.### TaskFor each company, determine whether the volume variance would be favorable or unfavorable. **Instructions:** Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).---### Company Analysis**Company A:** [Your Analysis Here]**Company B:** [Your Analysis Here]**Company C:** [Your Analysis Here]

Name: ## Exercise 10A-4 (Algo) Fixed Overhead Variances [LO10-4]### Overvie
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Description: ## Exercise 10A-4 (Algo) Fixed Overhead Variances [LO10-4]### OverviewThis exercise provides selected operating information on three different companies for a recent year. Analyze the variances in machine-hours to determine whether they are favorabl

Volume varianceis the difference between budgeted and applied (standard allocation for actual…

Business

Accounting

elected operating information on three different companies for a recent year is given below: Company B 22,000 21, 200 21,400 20,600 A 33,000 32,000 32,000 32,500 Full-capacity machine-hours Budgeted machine-hours* Actual machine-hours Standard machine-hours allowed for actual production Denominator activity for computing the predetermined overhead rate. 23,000 23,000 22,000 23,000 equired: or each company, state whether the volume variance would be favorable or unfavorable. ote: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zer

elected operating information on three different companies for a recent year is given below: Company B 22,000 21, 200 21,400 20,600 A 33,000 32,000 32,000 32,500 Full-capacity machine-hours Budgeted machine-hours* Actual machine-hours Standard machine-hours allowed for actual production Denominator activity for computing the predetermined overhead rate. 23,000 23,000 22,000 23,000 equired: or each company, state whether the volume variance would be favorable or unfavorable. ote: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zer

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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Assume (1) estimated fixed manufacturing overhead for the coming period of $207,000, (2) estimated variable manufacturing overhead of $2.00 per direct labor hour, (3) actual manufacturing overhead for the period of $320,000, (4) actual direct labor-hours worked of 54,000 hours, and (5) estimated direct labor-hours to be worked in the coming period of 55,000 hours. The amount of overhead applied to production during the period is closest to: (Round your intermediate value of "Predetermined overhead rate" to two decimal places.) Multiple Choice $317,000. $311,040. $325,926. $322,564.
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The following annual amounts pertain to the Wolf Company: Estimated Overhead Costs Estimated Direct Labor hours $ 191,079 73,492 If actual overhead costs for the year amounted to $198,400 and actual direct labor worked amounted to 75.500 hours, then overhead would be Multiple Choice overapplied by $2112 underapplied by $2,112 underapplied by $2,100.
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Assume (1) estimated fixed manufacturing overhead for the coming period of $200,000, (2) estimated varlable manufacturing overhead of $2.00 per direct labor hour, (3) actual manufacturing overhead for the perlod of $320,000, (4) actual direct labor-hours worked of 54,000 hours, and (5) estimated direct labor-hours to be worked In the coming perlod of 55,000 hours. The amount of overhead applied to production during the perlod is closest to: Multiple Choice $325,926. $304.560. $315,844. $310,000.
Presented below are certain operating data for the four departments of Tally Manufacturing Company. Service Production 1 2 1 2 Total manufacturing overhead costs either identifiable with or allocated to each department $72,000 $86,400 $108,000 $117,600 Square feet of factory floor space 48,000 96,000 Number of factory workers 110 70 Planned direct labor hours for the year 24,000 36,000 Allocate, to the two production departments, the costs of service departments 1 and 2, using factory floor space and number of workers, respectively, as bases. Do not round bases when calculating reallocations of service departments. Production 1 2 Identifiable and allocated overhead Answer Answer Reallocation of service departments: Dept. 1 Factory floor space Answer Answer Dept. 2 Number of factory workers Answer Answer Total manufacturing overhead Answer Answer What is the apparent…
At the beginning of the year, Custom Manufacturing set its predetermined overhead rate using the following estimates: overhead costs, $520,000, and direct materials costs, $200,000.At year-end, the company reports that actual overhead costs for the year are $528,700 and actual direct materials costs for the year are $200,000. 1. Determine the predetermined overhead rate using estimated direct materials costs 2. Enter the actual overhead costs incurred and the amount of overhead cost applied to jobs during the year using the predetermined overhead rate. Determine whether overhead is over- or underapplied (and the amount) for the year. 3. Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Enter the actual overhead costs incurred and the amount of overhead cost applied to jobs during the year using the predetermined overhead rate. Determine whether overhead…
answer must be in table format or i will give down vote
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