Answered: My performance report shows that my…

My performance report shows that my employees worked 75 hours, however, their pay card report shows that they worked 80 hours. What is my variance percentage?

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 29Q: If the factory overhead control account has a credit balance of 2,000 at the end of the first month...

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My performance report shows that my employees
worked 75 hours, however, their pay card report
shows that they worked 80 hours. What is my variance
percentage?

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The overhead at the end of the month would therefore be ?
What is the expected total overhead cost for next month on these general accounting question?
If the factory overhead control account has a credit balance of 2,000 at the end of the first month of the fiscal year, has the overhead been under- or overapplied for the month? What are some probable causes for the credit balance?
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Kyle Forman worked 45 hours during the week for Erickson Company at two different jobs. His pay rate was $14.75 for the first 40 hours, and his pay rate was $11.30 for the other 5 hours. Round your overtime rate and other interim computations to two decimal places and use the rounded amount in subsequent computations. Round the final answers to the nearest cent. Determine his gross pay for that week if the company uses the one-half average rate method. a. Gross pay $ fill in the blank 1 b. If prior agreement existed that overtime would be paid at the rate for the job performed after the 40th hour, the gross pay would be $ fill in the blank 2
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