Presented is an abbreviated performance report for the month of Units Costs: Direct materials Direct labor Variable factory overhead Fixed factory overhead Total costs . Actual Budget Variance 7,400 6,600 $42,000 $35,000 $7,000 U 17,500 U 162,500 145,000 185,000 150,000 35,000 U 8,000 F 107,000 115,000 $496,500 $445,000 $51,500 U Standard cost per unit produced: 3 liters @ $2.50 per liter Actual use of raw materials 19,000 liters @ $4.00 per liter

Presented is an abbreviated performance report for the month of Units Costs: Direct materials Direct labor Variable factory overhead Fixed factory overhead Total costs . Actual Budget Variance 7,400 6,600 $42,000 $35,000 $7,000 U 17,500 U 162,500 145,000 185,000 150,000 35,000 U 8,000 F 107,000 115,000 $496,500 $445,000 $51,500 U Standard cost per unit produced: 3 liters @ $2.50 per liter Actual use of raw materials 19,000 liters @ $4.00 per liter

Name: Presented is an abbreviated performance report for the month of Novem
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Description: Presented is an abbreviated performance report for the month of November:UnitsCosts:Direct materialsDirect laborVariable factory overheadFixed factory overheadTotal costsActual Budget Variance7,4006,600$42,000 $35,000 $7,000 U162,500 145,000 17,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Spree Party Lights overhead expenses are: Indirect material, pounds per unit 0.30 Indirect material, cost per pound $2 Indirect labor hours 1 Indirect labor rate per hour $16.50 Variable maintenance per unit $0.70 Variable utilities per unit $0.10 Supervisor salaries $11,000 Maintenance salaries $10,000 Insurance $3,000 Depreciation $1,400 Prepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,400, 3,100, and 2,600, respectively. Spree Party Lights Manufacturing Overhead Budget For the Quarter Ending January - March January February March Units to Produce fill in the blank 1 fill in the blank 2 fill in the blank 3 Variable Costs Indirect Material $fill in the blank 5 $fill in the blank 6 $fill in the blank 7 Indirect Labor fill in the blank 9 fill in the blank 10 fill in the blank 11 Maintenance fill in the blank 13 fill in the blank 14 fill in the blank 15 Utilities…
The manufacturing overhead variance for 20X6 is: Select one: a. $25,000 over-applied b. $49,000 under-applied c. $2,900 over-applied d. $25,000 under-applied Clear my choice
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Subject: Cost Accounting
The standard costs and actual costs for factory overhead for the manufacture of 2,700 units of actual production are as follows: Fixed overhead (based on 10,000 hours) Variable overhead Actual Costs Total variable cost, $17,800 Total fixed cost, $8,200 The total factory overhead cost variance is Oa. $1,600 unfavorable Ob. $2,930 favorable Oc. $2,930 unfavorable Od. $4,260 favorable Standard Costs 3 hours per unit at $0.70 per hour 3 hours per unit at $2.00 per hour
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A report for a company's Assembly Department for the month of March follows: Assembly Department Cost Report For the Month Ended March 31 Machine-hours Variable costs: Supplies Scrap Indirect materials Fixed costs: Wages and salaries Equipment depreciation Total cost Actual Results 15,000 Master Budget Variances 20,000 $ 10,800 39,200 $ 11,400 42,000 $ 600 F 2,800 F 111,800 133,500 21,700 F 83,500 108,000 78,000 108,000 5,500 U 0 $ 353,300 $ 372,900 $ 19,600 F Required: Prepare a flexible budget performance report for the month of March.
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The Illustrative Corporation recorded the following budgeted and actual information relating to fixed overhead costs for its Z-Line of products Standard fixed overhead per direct labor hour Standard direct labor hours per unit Budgeted production Budgeted fixed overhead costs $3 0.75 3,400 $7.650.00 Actual production in units Actual fixed overhead costs incurred What is Illustrative's fixed manufacturing overhead volume variance? A. $2.025.00 favorable OB. $4.950.00 favorable OC. $2,025.00 unfavorable D. $4.950.00 unfavorable 4,300 $2.700.00
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The standard costs and actual costs for factory overhead for the manufacture of 2,800 units of actual production are as follows: Standard Costs Fixed overhead (based on 10,000 hours) 3 hours per unit @ $0.78 per hour Variable overhead 3 hours per unit @ $1.91 per hour Actual Costs Total variable cost, $17,800 Total fixed cost, $8,100 The variable factory overhead controllable variance is a.$1,756 favorable b.$1,756 unfavorable c.$1,405 favorable d.$0