Manufacturing overhead data for the production of Product H by Shakira Company, assuming the company uses a standard cost system, are as follows. - Overhead incurred for 45,900 actual direct labor hours worked is $417,060. - Overhead rate (variable $8; fixed $1) is $9. - Standard hours allowed for work done are 46,640 hours. Compute the total overhead variance. Total overhead variance Variance Favorable / Unfavorable $

Manufacturing overhead data for the production of Product H by Shakira Company, assuming the company uses a standard cost system, are as follows. - Overhead incurred for 45,900 actual direct labor hours worked is $417,060. - Overhead rate (variable $8; fixed $1) is $9. - Standard hours allowed for work done are 46,640 hours. Compute the total overhead variance. Total overhead variance Variance Favorable / Unfavorable $

Name: Please do not give solution in image format thanku Manufacturing overh
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Please do not give solution in image format thanku Manufacturing overhead data for the production of Product H by Shakira Company, assuming the company uses astandard cost system, are as follows.- Overhead incurred for 45,900 actual direct labor hour

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 3PA: Direct materials, direct labor, and factory overhead cost variance analysis Mackinaw Inc. processes...

See similar textbooks

Similar questions

At the beginning of the year, Lopez Company had the following standard cost sheet for one of its chemical products: Lopez computes its overhead rates using practical volume, which is 80,000 units. The actual results for the year are as follows: (a) Units produced: 79,600; (b) Direct labor: 158,900 hours at 18.10; (c) FOH: 831,000; and (d) VOH: 112,400. Required: 1. Compute the variable overhead spending and efficiency variances. 2. Compute the fixed overhead spending and volume variances.
Eagle Inc. uses a standard cost system. During the most recent period, the company manufactured 115,000 units. The standard cost sheet indicates that the standard direct labor cost per unit is $1.50. The performance report for the period includes an unfavorable direct labor rate variance of $3,700 and a favorable direct labor time variance of $10,275. What was the total actual cost of direct labor incurred during the period?
Breakaway Companys labor information for May is as follows: A. What is the actual direct labor rate per hour? B. What is the standard direct labor rate per hour? C. What was the total standard direct labor cost for May? D. What was the direct labor rate variance for May?
Direct materials, direct labor, and factory overhead cost variance analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 40,000 units of product were as follows: Each unit requires 0.3 hour of direct labor. Instructions Determine (A) the direct materials price variance, direct materials quantity variance, and total direct materials cost variance; (B) the direct labor rate variance, direct labor time variance, and total direct labor cost variance; and (C) the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance.
Direct materials and direct labor variance analysis Lenni Clothing Co. manufactures clothing in a small manufacturing facility. Manufacturing has 25 employees. Each employee presently provides 40 hours of productive labor per week. Information about a production week is as follows: Instructions Determine (A) the standard cost per unit for direct materials and direct labor; (B) the price variance, quantity variance, and total direct materials cost variance; and (C) the rate variance, time variance, and total direct labor cost variance.
Method of Least Squares, Predicting Cost for Different Time Periods from the One Used to Develop a Cost Formula Refer to the information for Farnsworth Company on the previous page. However, assume that Tracy has used the method of least squares on the receiving data and has gotten the following results: Required: 1. Using the results from the method of least squares, prepare a cost formula for the receiving activity. 2. Using the formula from Requirement 1, what is the predicted cost of receiving for a month in which 1,450 receiving orders are processed? (Note: Round your answer to the nearest dollar.) 3. Prepare a cost formula for the receiving activity for a quarter. Based on this formula, what is the predicted cost of receiving for a quarter in which 4,650 receiving orders are anticipated? Prepare a cost formula for the receiving activity for a year. Based on this formula, what is the predicted cost of receiving for a year in which 18,000 receiving orders are anticipated?
Manufacturing overhead data for the production of Product H by Shakira Company, assuming the company uses a standard cost system, are as follows. Overhead incurred for 46,000 actual direct labor hours worked $373,200 Overhead rate (variable $7; fixed $1) at normal capacity of 50,700 direct labor hours $8 Standard hours allowed for work done 46,750 Compute the total overhead variance. Total overhead variance $enter the total overhead variance in dollars select an option Neither favorable nor unfavorableFavorableUnfavorable
Manufacturing overhead data for the production of Product H by Concord Company, assuming the company uses a standard cost system, are as follows. Overhead incurred for 66,560 actual direct labor hours worked $336,640 Overhead rate (variable $3; fixed $2) at normal capacity of 69.120 direct labor hours $5 Standard hours allowed for work done 66,560 Compute the total overhead variance. Total overhead variance
A company reports the following Information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced AH = Actual Hours SH - Standard Hours AR = Actual Rate SR Standard Rate = 59,000 $ 16 $ 14 60,100 Compute the direct labor rate and efficiency variances and Identify each as favorable or unfavorable. Actual Cost Standard Cost
Manufacturing overhead data for the production of Product H by Kingbird Company, assuming the company uses a standard cost system, are as follows. Overhead incurred for 46,100 actual direct labor hours worked $281,880 Overhead rate (variable $5; fixed $1) at normal capacity of 58,300 direct labor hours $6 Standard hours allowed for work done $47,180 Compute the total overhead variance
A company reports the following information for its direct labor. Actual hour of direct labor uned Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direet labor for unita produced 65,000 $ 14 $13 66,000 AH - Actual Hours SH Standard Hours AR Actual Rate SR- Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Actual Cost Standard Cost
Manufacturing overhead data for the production of Product H by Jennifer Company, assuming the company uses a standard cost system, are as follows. Overhead incurred for 52,600 actual direct labor hours worked $319,320 Overhead rate (variable $4; fixed $2) at normal capacity of 50,000 direct labor hours $6 Standard hours allowed for work done 53,320 Compute the total overhead variance. Total overhead variance $