Geschke Corporation, which produces commercial safes, has provided the following data: Budgeted production 8,500 safes standard machine-hours per safe Standard supplies cost Actual production Actual machine-hours Actual supplies cost Supplies cost is an element of variable manufacturing overhead. The variable overhead rate variance for supplies is closest to: Multiple Choice O O $10,828 F $10.947 U $10,828 U $10.947 F 9.1 machine-hours $ 1.70 per machine-hour 8,700 safes 79,100 machine-hours $123,642

Geschke Corporation, which produces commercial safes, has provided the following data: Budgeted production 8,500 safes standard machine-hours per safe Standard supplies cost Actual production Actual machine-hours Actual supplies cost Supplies cost is an element of variable manufacturing overhead. The variable overhead rate variance for supplies is closest to: Multiple Choice O O $10,828 F $10.947 U $10,828 U $10.947 F 9.1 machine-hours $ 1.70 per machine-hour 8,700 safes 79,100 machine-hours $123,642

Name: Geschke Corporation, which produces commercial safes, has provided th
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Description: Geschke Corporation, which produces commercial safes, has provided the following data:Budgeted production8,500 safesstandard machine-hours per safeStandard supplies costActual productionActual machine-hoursActual supplies costSupplies cost is an ele

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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Tharaldson Corporation makes a product with the following standard costs. Direct materials. Direct labor Variable overhead The variable overhead rate variance for June is: The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost Multiple Choice $1,200 F Standard Quantity or Hours $1,212 U 6.0 ounces 0.3 hours 0.3 hours $ 42,300 $ 13,600 $ 3,700 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. $1,212 F Standard Price or Rate $3.00 per ounce $11.00 per hour $5.00 per hour 3,600 units 3,200 units 21,000 ounces 22,100 ounces 500 hours Standard Cost Per Unit $18.00 $3.30 $ 1.50
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Gail Cleaners produces a commercial cleaning compound known as Carpex. The direct materials and direct labour standards for one unit of Carpex follow: Direct materials Direct labour Variable overhead Standard Quantity or Hours 4.10 kilograms 0.40 hour 0.40 hour Standard Price or Rate $ 2.20 per kilogram $10.00 per hour $ 1.30 per hour Standard Cost $9.02 4.00 0.52 The budgeted fixed overhead cost is $14,614 per month. The denominator activity level of the allocation base is 800 direct labour- hours. Materials price variance Materials quantity variance During the most recent month, the following activity was recorded: a. 9,900 kilograms of material were purchased at a cost of $2.22 per kilogram. b. A total of 850 hours of direct labour time was recorded at a total labour cost of $9,110. c. The variable overhead cost was $1,580, and the fixed overhead cost was $14,704. Assume that the company produced 1,600 units during the month, using 6,600 kilograms of material in the production…
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Moeller Electric manufactures light fixtures. The following information pertains to the company's manufacturing overhead data. i (Click the icon to view the information.) What is the variable manufacturing overhead flexible-budget variance? Round to the nearest ten cents. A. $387.00 favourable B. $26,661.80 unfavourable C. $2,363.80 favourable D. $2,750.00 favourable E. $2,363.00 unfavourable Information Budgeted output units Budgeted machine-hours Budgeted variable manufacturing overhead costs for 30,000 fixtures Actual output units produced Actual machine-hours used Actual variable manufacturing overhead costs 34,000 fixtures 10,000 hours $80,625 44,000 fixtures 10,000 hours $131,000 X