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Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 3,000 computers: Actual: Variable factory overhead $81,500 Fixed factory overhead 35,000 105,000 3,000 hrs. at $35 Standard: If productive capacity of 100% was 5,000 hours and the total factory overhead cost budgeted at the level of 3,000 standard hours was $119,000, 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 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 3,000 computers: Actual: Variable factory overhead $81,500 Fixed factory overhead 35,000 105,000 3,000 hrs. at $35 Standard: If productive capacity of 100% was 5,000 hours and the total factory overhead cost budgeted at the level of 3,000 standard hours was $119,000, 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 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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 3,000 computers: Actual: $81,500 35,000 105,000 Variable factory overhead Fixed factory overhead Standard: 3,000 hrs. at $35 If productive capacity of 100% was 5,000 hours and the total factory overhead cost budgeted at the level of 3,000 standard hours was $119,000, 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 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 Controllable variance Volume variance Total factory overhead cost variance Amount
Transcribed Image Text:Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 3,000 computers: Actual: $81,500 35,000 105,000 Variable factory overhead Fixed factory overhead Standard: 3,000 hrs. at $35 If productive capacity of 100% was 5,000 hours and the total factory overhead cost budgeted at the level of 3,000 standard hours was $119,000, 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 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 Controllable variance Volume variance Total factory overhead cost variance Amount
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