Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 4,000 computers: Actual: Variable factory overhead Fixed factory overhead 4,000 hrs. at $44 $149,400 33,000 176,000 Standard: If productive capacity of 100% was 6,000 hours and the total factory overhead cost budgeted at the level of 4,000 standard hours was $187,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $5.5 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variance Favorable/Unfavorable Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance $ Amount

Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 4,000 computers: Actual: Variable factory overhead Fixed factory overhead 4,000 hrs. at $44 $149,400 33,000 176,000 Standard: If productive capacity of 100% was 6,000 hours and the total factory overhead cost budgeted at the level of 4,000 standard hours was $187,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $5.5 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variance Favorable/Unfavorable Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance $ Amount

Name: Factory Overhead Cost VariancesThe following data relate to factory o
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Description: Factory Overhead Cost VariancesThe following data relate to factory overhead cost for the production of 4,000 computers:Actual:Variable factory overheadFixed factory overhead4,000 hrs. at $44$149,40033,000176,000Standard:If productive capacity of 10

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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Factory Overhead Volume Variance Bellingham Company produced 4,200 units of product that required 1.5 standard direct labor hours per unit. The standard fixed overhead cost per unit is $2.25 per direct labor hour at 6,700 hours, which is 100% of normal capacity. Determine 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. $fill in the blank 1
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Factory Overhead Controllable Variance Bellingham Company produced 5,100 units of product that required 8 standard direct labor hours per unit. The standard variable overhead cost per unit is $5.40 per direct labor hour. The actual variable factory overhead was $214,810. Determine the variable factory overhead controllable variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. $fill in the blank 1
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Need help with fixed factory overhead volume variance amount and total factory overhead cost variance, please! Factory Overhead Variance Corrections The data related to Shunda Enterprises Inc.’s factory overhead cost for the production of 60,000 units of product are as follows: Actual: Variable factory overhead $261,300 Fixed factory overhead 188,400 Standard: 91,000 hrs. at $5 ($2.90 for variable factory overhead) 455,000 Productive capacity at 100% of normal was 90,000 hours, and the factory overhead cost budgeted at the level of 91,000 standard hours was $452,300. Based on these data, the chief cost accountant prepared the following variance analysis: Variable factory overhead controllable variance: Actual variable factory overhead cost incurred $261,300 Budgeted variable factory overhead for 91,000 hours (263,900) Variance—favorable $(2,600) Fixed factory overhead volume variance: Normal productive capacity at 100% 90,000 hrs.…
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 5,000 computers: Actual: Variable factory overhead $70,300 Fixed factory overhead 28,000 Standard: 5,000 hrs. at $18 90,000 If productive capacity of 100% was 8,000 hours and the total factory overhead cost budgeted at the level of 5,000 standard hours was $100,500, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $3.5 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variance Amount Favorable/Unfavorable Variable factory overhead controllable variance $fill in the blank 1 Fixed factory overhead volume variance fill in the blank 3 Total factory overhead cost variance $fill in the blank 5
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Direct Labor Variances The following data relate to labor cost for production of 3,800 cellular telephones: Actual: 2,600 hrs. at $14.20 Standard: 2,560 hrs. at $14.50 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance $fill in the blank 1 Time variance $fill in the blank 3 Total direct labor cost variance $fill in the blank 5 b. The employees may have been less-experienced workers who were paid less than more-experienced workers or poorly trained, thereby resulting in a labor rate than planned. The lower level of experience or training may have resulted in efficient performance. Thus, the actual time required was than standard.
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