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Question 3: Consider the following two situations-cases A and B independently. Data refer to operations for April 2017. For each situation, assume standard costing. Also assume the use of a flexible budget for control of variable and fixed manufacturing overhead based on machine- hours. Fill in the blanks under each case. Cases B (1) Fixed manufacturing overhead incurred (2) Variable manufacturing overhead incurred $27,000 $10,511 $132,900 (3) Denominator level in machine-hours 45,000 (4) Standard machine-hours allowed for actual output achieved 4,700 (5) Fixed manufacturing overhead (per standard machine-hour) Flexible-Budget Data: $ 2.10 $130,500 (6) Variable manufacturing overhead (per standard machine-hour) (7) Budgeted fixed manufacturing overhead (8) Budgeted variable manufacturing overhead (9) $23,375 Total budgeted manufacturing overhead Additional Data: (10) Standard variable manufacturing overhead allocated (11) Standard fixed manufacturing overhead allocated (12) Production-volume variance (13) Variable manufacturing overhead spending variance (14) Variable manufacturing overhead efficiency variance Fixed manufacturing overhead spending variance $10,340 $19,975 $ 580 F $1,490 F $1,680 F Activate Windows 2$ 457 U (15) (16) Actual machine-hours used Go to Settings to activate Wit

Question 3: Consider the following two situations-cases A and B independently. Data refer to operations for April 2017. For each situation, assume standard costing. Also assume the use of a flexible budget for control of variable and fixed manufacturing overhead based on machine- hours. Fill in the blanks under each case. Cases B (1) Fixed manufacturing overhead incurred (2) Variable manufacturing overhead incurred $27,000 $10,511 $132,900 (3) Denominator level in machine-hours 45,000 (4) Standard machine-hours allowed for actual output achieved 4,700 (5) Fixed manufacturing overhead (per standard machine-hour) Flexible-Budget Data: $ 2.10 $130,500 (6) Variable manufacturing overhead (per standard machine-hour) (7) Budgeted fixed manufacturing overhead (8) Budgeted variable manufacturing overhead (9) $23,375 Total budgeted manufacturing overhead Additional Data: (10) Standard variable manufacturing overhead allocated (11) Standard fixed manufacturing overhead allocated (12) Production-volume variance (13) Variable manufacturing overhead spending variance (14) Variable manufacturing overhead efficiency variance Fixed manufacturing overhead spending variance $10,340 $19,975 $ 580 F $1,490 F $1,680 F Activate Windows 2$ 457 U (15) (16) Actual machine-hours used Go to Settings to activate Wit

FINANCIAL ACCOUNTING
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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Question 3: Consider the following two situations cases A and B- independently. Data refer to operations for April 2017. For each situation, assume standard costing. Also assume the use of a flexible budget for control of variable and fixed manufacturing overhead based on machine- hours. Fill in the blanks under each case. Cases A B (1) Fixed manufacturing overhead incurred (2) Variable manufacturing overhead incurred $27,000 $10,511 $132,900 (3) Denominator level in machine-hours 45,000 (4) Standard machine-hours allowed for actual output achieved 4,700 (5) Fixed manufacturing overhead (per standard machine-hour) Flexible-Budget Data: (6) Variable manufacturing overhead (per standard machine-hour) (7) Budgeted fixed manufacturing overhead (8) Budgeted variable manufacturing overhead (9) Total budgeted manufacturing overhead $ 2.10 $23,375 $130,500 Additional Data: $10,340 (10) Standard variable manufacturing overhead allocated (11) Standard fixed manufacturing overhead allocated $19,975 $ 580 F (12) (13) Variable manufacturing overhead spending variance (14) Production-volume variance $ 457 U $1,490 F Variable manufacturing overhead efficiency variance (15) Fixed manufacturing overhead spending variance (16) $1,680 F Activate Windows Go to Settings to activate Wit Actual machine-hours used
Transcribed Image Text:Question 3: Consider the following two situations cases A and B- independently. Data refer to operations for April 2017. For each situation, assume standard costing. Also assume the use of a flexible budget for control of variable and fixed manufacturing overhead based on machine- hours. Fill in the blanks under each case. Cases A B (1) Fixed manufacturing overhead incurred (2) Variable manufacturing overhead incurred $27,000 $10,511 $132,900 (3) Denominator level in machine-hours 45,000 (4) Standard machine-hours allowed for actual output achieved 4,700 (5) Fixed manufacturing overhead (per standard machine-hour) Flexible-Budget Data: (6) Variable manufacturing overhead (per standard machine-hour) (7) Budgeted fixed manufacturing overhead (8) Budgeted variable manufacturing overhead (9) Total budgeted manufacturing overhead $ 2.10 $23,375 $130,500 Additional Data: $10,340 (10) Standard variable manufacturing overhead allocated (11) Standard fixed manufacturing overhead allocated $19,975 $ 580 F (12) (13) Variable manufacturing overhead spending variance (14) Production-volume variance $ 457 U $1,490 F Variable manufacturing overhead efficiency variance (15) Fixed manufacturing overhead spending variance (16) $1,680 F Activate Windows Go to Settings to activate Wit Actual machine-hours used
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