PA11. LO 8.4 Reddy Corporation has collected the following data for the month of June:Actual total factory overhead incurredBudgeted fixed factory overhead costsActivity level, in direct labor hoursActual direct labor hoursStandard hours for output this periodTotal factory overhead rate$61,250$42,00015,00018,00017,000$ 4.35What is the variable overhead efficiency variance?PA12. LO 8.4 ABC Inc. spent a total of $48,000 on factory overhead. Of this, $28,000 was fixedoverhead. 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. Whatis the variable overhead rate variance?5,000 x $4.10$20,500

Solution 11: Standard rate of variable overhead = Factory overhead rate - Fixed overhead rate =…

Answered: PA11. LO 8.4 Reddy Corporation has…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter4: Activity-based Costing

Section: Chapter Questions

Problem 11E: Ripley, Inc., costs products using a normal costing system. The following data are available for...

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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?
The following standards for variable manufacturing overhead have been established for a company that makes only one product: Standard hours per unit of output Standard variable overhead rate The following data pertain to operations for the last month: Actual hours Actual total variable manufacturing overhead cost Actual output What is the variable overhead efficiency variance for the month? Multiple Choice $25,546 U $24,776 U $770 U 8.8 hours $15.20 per hour $20,064 F 2 $ 45
The records of Heritage Home Supplies show the following for July. Standard direct labor-hours allowed per unit of output Standard variable overhead rate per standard direct labor-hour Good unita produced Actual direct labor-hours worked Actual total direct labor cost 632 3,560 13,775 $ 504,000 Direct labor efficiency variance Actual variable overhead $ 17.2987 $ 440,800 Required: Compute the direct labor and variable overhead price and efficiency varlances. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" fo unfavorable. If there is no effect, do not select either option. Direct labor: Price variance Efficiency variance Variable overhead: Price variance Efficiency variance
All estimated costs are based on labor hours. How much is the factory overhead variance?
The following standards for variable manufacturing overhead have been established for a company that makes only one product: Standard hours per unit of output Standard variable overhead rate The following data pertain to operations for the last month: Actual hours Actual total variable manufacturing overhead cost Actual output What is the variable overhead efficiency variance for the month? Multiple Choice $13,985 U $13,325 U $660 U 6.6 hours $ 13.00 per hour $21,450 F 2,675 hours $ 35,435 250 units
Are the answers correct?
Reddy Corporation has collected the following data for the month of June: Actual total factory overhead incurred $61,200 Budgeted fixed factory overhead costs $42,280 Activity level, in direct labor hours 15,100 Actual direct labor hours 18,200 Standard hours for output this period 16,900 Total factory overhead rate $4.40 What is the variable overhead efficiency variance? Enter the amount as positive number. Variable overhead efficiency variance $fill in the blank 1
Horn Industries uses a standard cost accounting system and applies manufacturing overhead based on machine hours. Here are data regarding Horn's production activity for the month of July: Actual variable manufacturing overhead costs Actual machine hours Variable manufacturing overhead rate variance Variable manufacturing overhead spending variance O 1,450 hours For purposes of applying manufacturing overhead to work in process inventory, what are the standard hours allowed for July? O 1,500 hours 1,650 hours O 1,700 hours $11,312 1,600 hours None of the above $1,712 unfavorable $2,312 unfavorable
The records of Heritage Home Supplies show the following for July: Standard direct labor-hours allowed per unit of output Standard variable overhead rate per standard direct labor-hour Good units produced Actual direct labor-hours worked Actual total direct labor cost Direct labor efficiency variance Actual variable overhead Required: Compute the direct labor and variable overhead price and efficiency variances. $ 34 3,600 13,925 $ 510,200 $ 17,670 F $ 473,450 Note: Do not round Intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Direct labor: Price variance Efficiency variance Variable overhead: Price variance Efficiency variance
Please solve fast and add proper calculation and explanation
Use the following information for Questions 18 & 19 18. 19. The Maxit Corporation has a standard costing system in which variable manufacturing overhead is assigned to production on the basis of standard machine-hours. The following data are available for July: C. d. The variable overhead efficiency variance for July is: a. $600 U b. $540 U $540 F $600 F ● a. b. Actual variable manufacturing overhead cost incurred: $11,310 Actual machine-hours worked: 1,600 hours Variable overhead rate variance: $1,710 U Total variable overhead spending variance: $2,310 U The standard number of machine-hours allowed for July production is closest to: 1,600 hours 1,700 hours C. d. 1,300 hours 1,500 hours
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