Forty-Niner Corporation, which produces commercial safes, has provided the following data: Budgeted production Standard machine-hours per safe 9.1 8,500 safes machine-hours Standard supplies cost $ 1.70 per machine-hour Actual production 8,700 safes Actual machine-hours 79,100 machine-hours Actual supplies cost $ 123,642 Supplies cost is an element of variable manufacturing overhead. The variable overhead efficiency variance for supplies is closest to: A. $10,947 F O B. $10,947 U OC. $119 F O D. $119 U
Forty-Niner Corporation, which produces commercial safes, has provided the following data: Budgeted production Standard machine-hours per safe 9.1 8,500 safes machine-hours Standard supplies cost $ 1.70 per machine-hour Actual production 8,700 safes Actual machine-hours 79,100 machine-hours Actual supplies cost $ 123,642 Supplies cost is an element of variable manufacturing overhead. The variable overhead efficiency variance for supplies is closest to: A. $10,947 F O B. $10,947 U OC. $119 F O D. $119 U
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
* Which of these option is correct
* detailed explanation
Transcribed Image Text:Forty-Niner Corporation, which produces commercial safes, has provided the following data:
Budgeted production
Standard machine-hours per safe 9.1
8,500
safes
machine-hours
Standard supplies cost
$ 1.70
per machine-hour
Actual production
8,700
safes
Actual machine-hours
79,100 machine-hours
Actual supplies cost
$ 123,642
Supplies cost is an element of variable manufacturing overhead.
The variable overhead efficiency variance for supplies is closest to:
O A. $10,947 F
O B. $10,947 U
O C. $119 F
O D. $119 U
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education