Step by step answer with all working format Office Plus determines overhead rates based on machine hours.Budgeted overhead is $240,000, and budgeted machine hoursare 20,000. If actual overhead is $250,000 and actual machinehours are 19,000, The overhead variance is favorable orunfavorable?

Explanation of Budgeted Overhead:Budgeted overhead refers to the estimated overhead costs a company…

Answered: Office Plus determines overhead rates…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 10EA: ThingOne Company has the following information available for the past year. They use machine hours...

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Thorne Company has the following information available for the past year. They use machine hours to allocate overhead. NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). For the variance conditions, your answer is either "F” (for Favorable) or "U” (for Unfavorable) - capital letter and no quotes. What is the variable overhead efficiency variance? Is it favorable or unfavorable?
A manager prepared the following table by which to analyze labor costs for the month: Actual hours at Actual rate is P10,000; Actual hours at Standard rate is P9,800 and Standard hours at Standard rate, P 8,820. What variance is P1,180? * idle labor variance labor efficiency variance labor spending variance total labor variance
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Assume that a company's planned level of activity is 1,000 hours and its actual level of activity is 1,100 hours. Based on this information, the company's activity variance for revenue will be: Multiple Choice either favorable or unfavorable depending on the cost formula. zero. unfavorable. favorable.
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Office Plus determines overhead rates based on machine hours. Budgeted overhead is $240,000, and budgeted machine hours are 20,000. If actual overhead is $250,000 and actual machine hours are 19,000, The overhead variance is favorable or unfavorable?