need correct answer Nivola, Inc., produces chemicals for large biotech companies. It has the following data formanufacturing overhead costs during August 2017:VariableFixedActual costs incurred$31,500$ 13,500Costs allocated to products35,00015,400Flexible budget14,400Actual input x budgeted rate30,800Requirement Fill in the blanks. Use F for favorable and U for unfavorable.Sr. No. Title1 Spending variance2 Efficiency variance3 Production-volume variance4 Flexible-budget variance5 Underallocated (overallocated) manufacturingVariabl FixedThe budgeted contribution for R Limited for the last month wasRs.32,000. The following variances were reported.|VarianceSales volume contributionMaterial priceMaterial usageLabor efficiencyVariable overhead efficiencyRs.800 adverse880 adverse822 favorable129 favorable89 favorableNo other variances were reported for the month.The actual contribution earned by R Limited for the last month isRs.

There are two diffrent questions i try to give boths answer. Question: 1 Answer It can be briefed as…

Answered: Nivola, Inc., produces chemicals for…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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< Deluxe, Inc. uses a standard cost system and provides the following information. (Click the icon to view the information.) Deluxe allocates manufacturing overhead to production based on standard direct labor hours. Deluxe reported the following actual results for 2024: actual number of units produced, 1,000, actual variable overhead, $5,000, actual fixed overhead, $3,200; actual direct labor hours, 1,400. Read the requirements Data table Static budget variable overhead Static budget fixed overhead Static budget direct labor hours Static budget number of units Standard direct labor hours Print The fixed overhead cost variance is The fixed overhead volume variance is $2,100 $2,800 1,400 hours 700 units 2 hours per unit Done Requirements 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. 2. Explain why the variances are favorable or unfavorable irect labor hour was sed Print Done because the total fixed overhead cost was because…
. Best Around, Inc., is a manufacturer of vacuums and uses standard costing. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of budgeted machine-hours. In 2017, budgeted fixed manufacturing overhead cost was $17,000,000. Budgeted variable manufacturing overhead was $10 per machine-hour. The denominator level was 1,000,000 machine-hours. Q. Prepare a graph for fixed manufacturing overhead. The graph should display how Best Around, Inc.’s fixed manufacturing overhead costs will be depicted for the purposes of (a) planning and control and (b) inventory costing.
Taunton Company uses the high-low method to estimate its cost function. The information for 2017 is provided below: Machine-hours Labor Costs Highest observation of cost driver 4,000 ��$332,000 Lowest observation of cost driver 3,000 $312,000 What is the estimated cost function for the above data? A. y = 332,000 + 83X B. y = 312,000 + 104X C. y = 92.00X D. y = 252,000 + 20.00X
The controller of Hall Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month TotalMaintenance Costs TotalMachine Hours January $2,817 3,734 February 3,201 4,268 March 3,841 6,402 April 4,801 8,429 May 3,414 5,335 June 4,930 8,536 Determine the variable-cost components using the high-low method. (Round variable cost to 2 decimal places e.g. 12.25.) Variable cost per machine hour $ eTextbook and Media Determine the fixed cost components using the high-low method. (Round answer to 0 decimal places e.g. 2,520.) Fixed costs $
Below are partial data for overhead cost and activity levels from three different companies. Required: Find the missing values for each companies.
Nivola, Inc., produces chemicals for large biotech companies. It has the following data for manufacturing overhead costs during August 2017: Variable Fixed Actual costs incurred $31,500 $ 13,500 Costs allocated to products 35,000 15,400 Flexible budget 14,400 Actual input x budgeted rate 30,800 Requirement Fill in the blanks. Use F for favorable and U for unfavorable. Sr. No. Title 1 Spending variance 2 Efficiency variance 3 Production-volume variance 4 Flexible-budget variance 5 Underallocated (overallocated) manufacturing Variabl Fixed The budgeted contribution for R Limited for the last month was Rs.32,000. The following variances were reported.| Variance Sales volume contribution Material price Material usage Labor efficiency Variable overhead efficiency Rs. 800 adverse 880 adverse 822 favorable 129 favorable 89 favorable No other variances were reported for the month. The actual contribution earned by R Limited for the last month is Rs.
Comprehensive problem on unit costs, product costs. Atlanta 0office Equipment manufactures and selis metal shelving. It began operations on January 1, 2017. Costs incurred for 2017 are as follows (V stands for variable; Fstands for fixed): $140,000 V 22,000 V 5,000 V 18,000 V 14,000 F 8,000 V 26,000 F 120,000 V 43,000 F 54,000F Direct materials used Direct manufacturing labor costs Plant energy costs Indirect manufacturing labor costs Indirect manufacturing labor costs Other indirect manufacturing costs Other indirect manufacturing costs Marketing, distribution, and customer-service costs Marketing, distribution, and customer-service costs Administrative costs Variable manufacturing costs are variable with respect to units produced. Variable marketing, distribution, and customer-service costs are variable with respect to units sold. Inventory data are as follows: Ending: December 31, 2017 2,300 Ibs O units 7 units Beginning: January 1, 2017 Direct materials O units O units Work in…
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The HeatRadiator Company uses a normal-costing system with a single manufacturing overhead cost pool and machine-hours as the cost-allocation base. The following data are for 2017: Read the requirements2. Requirement 1. Compute the budgeted manufacturing overhead rate for 2017. Begin by selecting the formula you will use. Then, enter the amounts and calculate the rate. Budgeted manufacturing (1) / (2) = overhead rate / = Requirement 2. Compute the under-or overallocated manufacturing overhead of Heat Radiator in 2017. Begin by selecting the formula you will use. Next, enter the amounts in the formula and compute the under-or overallocated manufacturing overhead. (Use parentheses or a minus sign when entering overallocated amounts.) Manufacturing overhead (3) – (4) = under-allocated (overallocated)…
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Since, the predetermined overhead rate and the budgeted factory overhead is given. We need to calculate the amount of the allocation base in order to know how Mystic Inc. computed its predetermined overhead rate for 2010. Equation to compute the Predetermined Overhead rate: Given: Predetermined Overhead rate = Predetermined rate: $4.25 per direct labor dollar Budgeted Factory Overhead: $1,275,000 Solution: $4.25 = ? = $300,000 = = $300,000 is the budgeted direct labor cost.

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