Question:44 The following standards for variable overhead have been established for a company that makes only one product: 4.4 hours Standard hours per unit of output Standard variable overhead rate $16.00 per hour The following data pertain to operations for the last month: Actual hours Actual total variable overhead cost Actual output 8,100 hours $1,24,990 1,820 units What is the variable overhead rate variance for the month? uqua Company's sales budget projects unit sales of part 198Z of 11,000 units in January, 12,600 units in February, and 14,000 units in March. Each unit of part 198Z requires 3 pounds of materials, which cost $3 per pound. Fuqua Company desires its ending raw materials inventory to equal 40% of the next month's production requirements, and its ending finished goods inventory to equal 20% of the next month's expected unit sales. These goals were met on December 31, 2016. Prepare a direct materials budget for January 2017.

Question:44 The following standards for variable overhead have been established for a company that makes only one product: 4.4 hours Standard hours per unit of output Standard variable overhead rate $16.00 per hour The following data pertain to operations for the last month: Actual hours Actual total variable overhead cost Actual output 8,100 hours $1,24,990 1,820 units What is the variable overhead rate variance for the month? uqua Company's sales budget projects unit sales of part 198Z of 11,000 units in January, 12,600 units in February, and 14,000 units in March. Each unit of part 198Z requires 3 pounds of materials, which cost $3 per pound. Fuqua Company desires its ending raw materials inventory to equal 40% of the next month's production requirements, and its ending finished goods inventory to equal 20% of the next month's expected unit sales. These goals were met on December 31, 2016. Prepare a direct materials budget for January 2017.

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead

Section: Chapter Questions

Problem 20E: Calculating amount of factory overhead applied to work in process The overhead application rate for...

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Calculating amount of factory overhead applied to work in process The overhead application rate for a company is 2.50 per unit, made up of 1.00 for fixed overhead and 1.50 for variable overhead. Normal capacity is 10,000 units. In one month, there was an unfavorable flexible budget variance of 200. Actual overhead for the month was 27,000. What was the amount of the budgeted overhead for the actual level of production?
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The following standards for variable overhead have been established for a company that makes only one product: 4.7 hours $ 16.00 per hour Standard hours per unit of output Standard variable overhead rate The following data pertain to operations for the last month: 8,400 hours $ 125,020 1,770 units Actual hours Actual total variable overhead cost Actual output Required: a. What is the variable overhead rate variance for the month? b. What is the variable overhead efficiency variance for the month? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) a. Variable overhead rate variance b. Variable overhead efficiency variance