Need answer 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 Predetermined Overhead Rate: The predetermined overhead rate is calculated by…

Answered: Office Plus determines overhead rates…

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 9DQ: At the end of the period, the factory overhead account has a credit balance of 10,000. (a) Is the...

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At the end of the period, the factory overhead account has a credit balance of 10,000. (a) Is the total factory cost variance favorable or unfavorable? (b) Are the controllable and volume variances favorable or unfavorable?
Reddy Corporation has collected the following data for the month or June: What is the variable overhead efficiency variance?
A manufacturer planned to use $78 of variable overhead per unit produced, but in the most recent period, it actually used $76 of variable overhead per unit produced. During this same period, the company planned to produce 500 units but actually produced 540 units. What is the variable overhead spending variance?
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Thorne Company has the following information available for the past year. They use machine hours to allocate overhead. NOTE: All dollar amounts are rounded to whole dollars and shown with "$" 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
You Did It! (YDI) has the following standards for direct labor: o Estimated quantity 8,900 direct labor hours o Estimated unit variable $48 per hour o Estimated fixed costs $18,000 YDI actually used 8,300 direct labor hours during production at an average hourly wage rate of $49.20, and actually incurred total fixed costs of $17,600. Using this information, answer the following questions. Please circle to identify the variance as favorable or unfavorable. What is the direct labor volume variance? Favorable or unfavorable?
A company reports the following information for its direct labor. Actual hours of direct labor used (AH) Actual rate of direct labor per hour (AR) Standard rate of direct labor per hour (SR) Standard hours of direct labor for units produced (SH) 72,000 $ 16 $ 15 73,300 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
Given on the following information, calculate the variable overhead rate variance. Actual variable overhead cost $15,500; Actual hours used 4,200, Standard hours allowed 4,000; and Standard variable overhead rate $3.75 per hour. O $500 F O $250 U O $250 F O $500 U Î
The following information relating to a company's overhead costs is available. Budgeted fixed overhead rate per machine hour Actual variable overhead Budgeted variable overhead rate per machine hour Actual fixed overhead Budgeted hours allowed for actual output achieved Based on this information, the total overhead variance is: Multiple Choice O O $69,000 favorable. $112,000 favorable. $43,000 unfavorable. $112,000 unfavorable. $43,000 favorable. $ 1.50 $ 99,000 $ 4.00 $ 20,000 42,000

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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?