Lenci Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During May, the company budgeted for 5,240 units, but its actual level of activity was 5,190 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for May: Data used in budgeting Fixed element Variable element per month per unit 41.00 Revenue Direct labor Direct materials %24 6.90 17.10 Manufacturing overhead Selling and administrative 42,900 2.70 24,100 1.60 expenses Total expenses %24 67,000 24 28.30 Actual results for May $199,210 $ 29,965 $ 81,665 $ 56,005 $ 24,080 Revenue Direct labor Direct materials Manufacturing overhead Selling and administrative expenses The spending variance for manufacturing overhead in May would be closest to:

Lenci Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During May, the company budgeted for 5,240 units, but its actual level of activity was 5,190 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for May: Data used in budgeting Fixed element Variable element per month per unit 41.00 Revenue Direct labor Direct materials %24 6.90 17.10 Manufacturing overhead Selling and administrative 42,900 2.70 24,100 1.60 expenses Total expenses %24 67,000 24 28.30 Actual results for May $199,210 $ 29,965 $ 81,665 $ 56,005 $ 24,080 Revenue Direct labor Direct materials Manufacturing overhead Selling and administrative expenses The spending variance for manufacturing overhead in May would be closest to:

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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