Please do not give solution in image format thanku Factory Overhead Cost VariancesPort Norris Textiles Corporation began September with a budget for 22,000 hours of production in the Weaving Department. The department has a full capacity of 29,000 hours under normal business conditions. The budgeted overhead at the planned volumes at the beginning of September was as follows:Variable overheadFixed overheadTotal$44,00029,000$73,000The actual factory overhead was $73,900 for September. The actual fixed factory overhead was as budgeted. During September, the Weaving Department had standard hours at actual production volume of 23,000 hours.Determine the variable factory overhead controllable variance and the fixed factory overhead volume variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your interim computations to the nearest cent, if required.a. Variable factory overhead controllable variance: $b. Fixed factory overhead volume variance:

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Description: Please do not give solution in image format thanku Factory Overhead Cost VariancesPort Norris Textiles Corporation began September with a budget for 22,000 hours of production in the Weaving Department. The department has a full capacity of 29,000 ho

The overhead is applied to the production on the basis of pre-determined overhead rate. The overhead…

Business

Accounting

Factory Overhead Cost Variances Port Norris Textiles Corporation began September with a budget for 22.000 hours of production in the Weaving Department. The department has a full capacity of 29,000 hours under normal business conditions. The budgeted overhead at the planned volumes at the beginning of September was as follows: Variable overhead $44,000 Fixed overhead 29,000 Total $73.000 The actual factory overhead was $73.900 for September. The actual foxed factory overhead was as budgeted. During September the Weaving Department had standard hours at actual production volume of 23.000 hours. Determine the variable factory overhead controllable variance and the fixed factory overhead volume variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your interim computations to the nearest cent, if required. a. Variable factory overhead controllable variance: b. Fixed factory overhead volume variance: s

Factory Overhead Cost Variances Port Norris Textiles Corporation began September with a budget for 22.000 hours of production in the Weaving Department. The department has a full capacity of 29,000 hours under normal business conditions. The budgeted overhead at the planned volumes at the beginning of September was as follows: Variable overhead $44,000 Fixed overhead 29,000 Total $73.000 The actual factory overhead was $73.900 for September. The actual foxed factory overhead was as budgeted. During September the Weaving Department had standard hours at actual production volume of 23.000 hours. Determine the variable factory overhead controllable variance and the fixed factory overhead volume variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your interim computations to the nearest cent, if required. a. Variable factory overhead controllable variance: b. Fixed factory overhead volume variance: s

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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