Exercise 16-48 (Algo) Fixed Cost Variances (LO 16-6) Coe Parts applies fixed overhead at the rate of $6.98 per unit. Budgeted fixed overhead was $209,800. This month 29,200 units were produced, and actual fixed overhead was $204,610. Required: a. What are the fixed overhead price and production volume variances for Coe Parts? b. What was budgeted production for the month? Complete this question by entering your answers in the tabs below. Required A Required B What was budgeted production for the month? Note: Do not round your intermediate calculations. Round your final answer to the nearest whole number. Budgeted production units Required A

Exercise 16-48 (Algo) Fixed Cost Variances (LO 16-6) Coe Parts applies fixed overhead at the rate of $6.98 per unit. Budgeted fixed overhead was $209,800. This month 29,200 units were produced, and actual fixed overhead was $204,610. Required: a. What are the fixed overhead price and production volume variances for Coe Parts? b. What was budgeted production for the month? Complete this question by entering your answers in the tabs below. Required A Required B What was budgeted production for the month? Note: Do not round your intermediate calculations. Round your final answer to the nearest whole number. Budgeted production units Required A

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Description: Exercise 16-48 (Algo) Fixed Cost Variances (LO 16-6)Coe Parts applies fixed overhead at the rate of $6.98 per unit. Budgeted fixed overhead was $209,800. This month 29,200 units wereproduced, and actual fixed overhead was $204,610.Required:a. What a

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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3 Cholla Company's standard fixed overhead rate is based on budgeted fixed manufacturing overhead of $11,100 and budgeted production of 30,000 units. Actual results for the month of October reveal that Cholla produced 29,000 units and spent $11,400 on fixed manufacturing overhead costs. Required: Calculate Cholla's fixed overhead spending variance. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Fixed Overhead Spending Variance
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Overhead Variances, Four-Variance Analysis, Journal Entries Janson, Inc., uses a standard costing system. The predetermined overhead rates are calculated using practical capacity. Practical capacity for a year is defined as 100,000 units requiring 20,000 standard direct labor hours. Budgeted overhead for the year is $76,000, of which $30,000 is fixed overhead. During the year, 96,000 units were produced using 19,000 direct labor hours. Actual annual overhead costs totaled $80,000, of which $29,600 is fixed overhead. Required: 1. Calculate the fixed overhead spending and volume variances. Fixed Overhead Spending Variance Fixed Overhead Volume Variance 2. Calculate the variable overhead spending and efficiency variances. Variable Overhead Spending Variance Variable Overhead Efficiency Variance 3. Prepare the journal entries that reflect the following: a. Assignment of overhead to production b. Recognition of the incurrence of actual overhead c. Recognition of overhead variances d.…
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AirPro Corporation reports the following for this period. Actual total overhead $ 28,575 Standard overhead applied $ 32,860 Budgeted (flexible) variable overhead rate $ 2.10 per unit Budgeted fixed overhead $ 12,900 Predicted activity level 12,900 units Actual activity level 10,600 units
H1. Account
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