Factory overhead cost variancesThe following data relate to factory overhead cost for the production of 7,000 computers:Actual: Variable factory overheadFixed factory overheadStandard: 7,000 hrs. at $58.00$344,60079,750406,000If productive capacity of 100% was 11,000 hours and the total factory overhead cost budgeted at the level of 7,000 standard hours was $435,000, determine the variable factory overhead Controllable Variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $7.25 per hour.Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.VarianceControllable varianceVolume varianceTotal factory overhead cost varianceAmountFavorable/Unfavorable

Variance AmountFavorable/UnfavorableControllable variance $-9,600FavorableVolume…

Answered: Factory overhead cost variances The…

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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Fixed factory overhead 95,200 Standard: 46,000 hrs. at $5.00 ($2.90 for variable factory overhead) 230,000 Productive capacity at 100% of normal was 45,000 hours, and the factory overhead cost budgeted at the level of 46,000 standard hours was $228,600. Based on these data, the chief cost accountant prepared the following variance analysis: Variable factory overhead controllable variance: Actual variable factory overhead cost incurred $132,100 Budgeted variable factory overhead for 46,000 hours 133,400 Variance-favorable $(1,300) Fixed factory overhead volume variance: Normal productive capacity at 100% 45,000 hrs. Standard for amount produced 46,000 Productive capacity not used 1,000 hrs. Standard variable factory overhead rate x $5.00 Variance-unfavorable 5,000 Total factory overhead cost variance-unfavorable $3,700 Compute the following to assist you in identifying the errors in the factory overhead cost variance analysis. Enter a favorable variance as a negative number using a…
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
Factory Overhead Volume Variance Dvorak Company produced 1,900 units of product that required 3 standard hours per unit. The standard fixed overhead cost per unit is $2.50 per hour at 6,000 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. $
Factory Overhead Controllable Variance Encinas Company produced 2,300 units of product that required 3 standard hours per unit. The standard variable overhead cost per unit is $1.90 per hour. The actual variable factory overhead was $11,905. Determine the variable factory overhead controllable variance. Enter a favorable variance as a negative number using minus sign and an unfavorable variance as a positive number. Favorable
Factory Overhead Controllable Variance Bellingham Company produced 3,100 units of product that required 7.5 standard direct labor hours per unit. The standard variable overhead cost per unit is $2.80 per direct labor hour. The actual variable factory overhead was $62,370. 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.
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
The following data relate to factory overhead cost for the production of 5,000 computers: Variable factory overhead $141,900 Fixed factory overhead 46,000 5,000 hrs. at $35 175,000 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 $192,250, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and totalfactory overhead cost variance. The fixed factory overhead rate was $5.75 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 Actual: Standard: Controllable variance. Volume variance Total factory overhead cost variance $ $ $
The following data relate to factory overhead cost for the production of 4,000 computers: Actual: Variable factory overhead $139,700 Fixed factory overhead 36,000 Standard: 4,000 hrs. at $42 168,000 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 $180,000, determine the variable factory overhead Controllable Variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $6 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 Controllable variance $ Volume variance $ Total factory overhead cost variance $
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 6,000 computers: Actual: Variable factory overhead $195,000 Fixed factory overhead 55,000 Standard: 6,000 hrs. at $39 234,000 If productive capacity of 100% was 10,000 hours and the total factory overhead cost budgeted at the level of 6,000 standard hours was $256,000, 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 Amount Favorable/Unfavorable Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance
The following data relate to factory overhead cost for the production of 7,000 computers: Actual: Variable factory overhead $108,600 Fixed factory overhead 44,000 Standard: 7,000 hrs. at $20 140,000 If productive capacity of 100% was 11,000 hours and the total factory overhead cost budgeted at the level of 7,000 standard hours was $156,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $4 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 $ Fixed factory overhead volume variance $ Total factory overhead cost variance $
Factory Overhead Volume Variance
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 7,000 computers: Actual: Variable factory overhead $249,500 Fixed factory overhead 57,750 Standard: 7,000 hrs. at $42 294,000 If productive capacity of 100% was 11,000 hours and the total factory overhead cost budgeted at the level of 7,000 standard hours was $315,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $5.25 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

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