Matthew was working away at his first attempt at variance analysis for his manufacturing company. He filled in variable-and fixed- MOH costs where he saw fit, before actually calculating the related price, efficiency, and volume variances. Since he was focusing on the overhead costs specifically, he made note of the allocation base being used, machine hours. Here is his work so far: Variable-MOH Fixed-MOH Actual Variable- MOH Cost $16,700 Fixed-MOH Master Budget $27,250 Fixed-MOH price variance Fixed-MQH Variable-MOH Flexible Budget $15,500 $ Fixed-MOH volume variance $ Applied Fixed- MOH Cost $26,650 Matthew isn't sure if he put the right costs in the right places. There were also a couple of costs that he didn't include, because he wasn't sure if they belonged, as follows. Actual machine hours @ budgeted variable-MOH rate: $15,950 $ Applied Variable- MOH Cost Actual Fixed- MOH Cost Flexible budget fixed-MOH cost: $27,250 Using the same framework, determine the fixed-MOH price and volume variances. Was fixed-MOH under-or overapplied this year? By how much? $24,300 $15,500

Matthew was working away at his first attempt at variance analysis for his manufacturing company. He filled in variable-and fixed- MOH costs where he saw fit, before actually calculating the related price, efficiency, and volume variances. Since he was focusing on the overhead costs specifically, he made note of the allocation base being used, machine hours. Here is his work so far: Variable-MOH Fixed-MOH Actual Variable- MOH Cost $16,700 Fixed-MOH Master Budget $27,250 Fixed-MOH price variance Fixed-MQH Variable-MOH Flexible Budget $15,500 $ Fixed-MOH volume variance $ Applied Fixed- MOH Cost $26,650 Matthew isn't sure if he put the right costs in the right places. There were also a couple of costs that he didn't include, because he wasn't sure if they belonged, as follows. Actual machine hours @ budgeted variable-MOH rate: $15,950 $ Applied Variable- MOH Cost Actual Fixed- MOH Cost Flexible budget fixed-MOH cost: $27,250 Using the same framework, determine the fixed-MOH price and volume variances. Was fixed-MOH under-or overapplied this year? By how much? $24,300 $15,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Can you use excel to do the data please.
How do you make a two-dimensional columnar chart in excel?
Question: 1)Accounting Information System is a option: a) manual system b) computer-cased system required: please answer this question by choosing the right option.
subject:accunting information system. Q: explainDocument flowcharts and give two examples.
Landscape is O a. Page Layout O b. A Font Style c. Page Orientation O d. Paper Size
Please provide the introductory part and answer for question D.
Can i have the steps in formula form please
where is the correcting entry of the following?
Write a about memorandum message
Making the information physically available or accessible to the potential users is termed as: a. Content utility b. Form utility c. Place utility d. Time utility
How do you access the Power Query interface?
show journal entry (for part b) assuming estimate is considered to be accurate. and show a journal entry (from part b) assuming the amount is large enough to intentionally impact decision of users.