Accounting.... Overhead Applied 360,000Actual Overhead 385,500Budgeted Overhead 369,000.What are the fixed overhead price andproduction volume variances?

Step 1: Define Overhead AppliedOverhead Applied is a fixed rate applied for the production of the…

Answered: Overhead Applied 360,000 Actual…

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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A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. The company bases its variable manufacturing overhead standards on direct labor-hours. Standard hours per unit of output 3.00 DLH3 Standard variable overhead rate $10.75 per DLH The following data pertain to operations for the last month: Actual direct labor-hours 9,600 DLHS Actual total variable manufacturing overhead cost Actual output $95,760 2,500 units What is the variable overhead efficiency variance for the month?
Relevant information for product A follows: Actual variable overhead cost per hour Standards variable overhead cost per hour Actual hours Standard hours $8,00 $7.50 O $2,250 unfavorable. O $4,000 unfavorable. O $2,250 favorable. O $4,000 favorable. 4,500 5,000 What was the variable overhead spending variance for product A?
Direct Labor Actual Data: Units produced Direct Labor Standard Cost Data per 1 Unit Quantity Price 2 hrs $41/hr SHOW ALL COMPUTATIONS. 20 units 39 hrs; total cost $1560 Compute rate variance, efficiency variance, direct labor variance
the Fixed overhead capacity variance is nearest to?? A. P4,710 F B. P4,710 UC. P5,110 FD. P5,110 U
Logistics Solutions provides order fulfillment services for dot.com merchants. The company maintains warehouses that stock items carried by its dot.com clients. When a client receives an order from a customer, the order is forwarded to Logistics Solutions, which pulls the item from storage, packs it, and ships it to the customer. The company uses a predetermined variable overhead rate based on direct labor-hours. In the most recent month, 120,000 items were shipped to customers using 2,300 direct labor-hours. The company incurred a total of $7,360 in variable overhead costs. According to the company's standards, 0.02 direct labor-hours are required to fulfill an order for one item and the variable overhead rate is $3.25 per direct labor-hour. Required: 1. What is the standard labor-hours allowed (SH) to ship 120,000 items to customers? 2. What is the standard variable overhead cost allowed (SH × SR) to ship 120,000 items to customers? 3. What is the variable overhead spending variance?…
Subject :- Accounting
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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?
Mulliner Company showed the following information for the year: Required: 1. Calculate the standard direct labor hours for actual production. 2. Calculate the applied variable overhead. 3. Calculate the total variable overhead variance.
Rath Company showed the following information for the year: Required: 1. Calculate the standard direct labor hours for actual production. 2. Calculate the applied variable overhead. 3. Calculate the total variable overhead variance.
ABC Inc. spent a total of $48,000 on factory overhead. Of this, $28,000 was fixed overhead. ABC Inc. had budgeted $27,000 for fixed overhead. Actual machine hours were 5.000. Standard hours for units made were 4,800. The standard variable overhead rate was $4.10. What is the variable overhead rate variance?
Breakaway Companys labor information for May is as follows: A. What is the actual direct labor rate per hour? B. What is the standard direct labor rate per hour? C. What was the total standard direct labor cost for May? D. What was the direct labor rate variance for May?

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Overhead Applied 360,000 Actual Overhead 385,500 Budgeted Overhead 369,000. What are the fixed overhead price and production volume variances?