K The Revolutions Corporation is a manufacturer of centrifuges Fixed and variable manufacturing overheads are allocated to each centrifuge using budgeted assembly-hours Budgeted assembly time is 2 hours per unit. The following table shows the budgeted amounts and actual results related to overhead for June 2017 (Click the icon to view the table) Read the requirements Requirement 1. Prepare an analysis of all variable manufacturing overhead and fixed manufacturing overhead variances Begin by calculating the following amounts for the variable overhead Actual Input Variable OH Actual Costs Incurred 391 x Budgeted Rate Flexible Budget Allocated Overhead 13./stm
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
(ch 8) The Revolutions Corporation is a manufacturer of centrifugesFixed and variable manufacturing
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