Perma Weave Textiles Corporation began January with a budget for 22,000 hours of production in the Weaving Department. The department has a full capacity of 29,000 hours under normal business conditions. The budgeted overhead at the planned volumes at the beginning of January was as follows: Variable overhead $44,000 Fixed overhead 29,000 Total $73,000 The actual factory overhead was $73,900 for January. The actual fixed factory overhead was as budgeted. During January, the Weaving Department had standard hours at actual production volume of 23,000 hours. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your interim computations to the nearest cent, if required. a. Determine the variable factory overhead controllable variance. (Favorable) b. Determine the fixed factory overhead volume variance (Unfavorable)

Perma Weave Textiles Corporation began January with a budget for 22,000 hours of production in the Weaving Department. The department has a full capacity of 29,000 hours under normal business conditions. The budgeted overhead at the planned volumes at the beginning of January was as follows: Variable overhead $44,000 Fixed overhead 29,000 Total $73,000 The actual factory overhead was $73,900 for January. The actual fixed factory overhead was as budgeted. During January, the Weaving Department had standard hours at actual production volume of 23,000 hours. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your interim computations to the nearest cent, if required. a. Determine the variable factory overhead controllable variance. (Favorable) b. Determine the fixed factory overhead volume variance (Unfavorable)

Name: Please do not give solution in image format thanku Perma Weave Textile
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Please do not give solution in image format thanku Perma Weave Textiles Corporation beganJanuary with a budget for 22,000 hours ofproduction in the Weaving Department. Thedepartment has a full capacity of 29,000 hoursunder normal business conditions.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks