Radon Corporation manufactured 33,000 grooming kits for horses during March. Thefollowing fixed overhead data pertain to March:ProductionMachine-hoursFixed overhead costs forMarchActual33,000unitsO a) $9,000 unfavorableOb) $14,400 favorableO c) $14,400 unfavorableO d) $9,000 favorableStaticBudget30,000units6,1006,000hourshours$153,000 $144,000What is the fixed overhead production-volume variance?

Name: Radon Corporation manufactured 33,000 grooming kits for horses during
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Radon Corporation manufactured 33,000 grooming kits for horses during March. Thefollowing fixed overhead data pertain to March:ProductionMachine-hoursFixed overhead costs forMarchActual33,000unitsO a) $9,000 unfavorableOb) $14,400 favorableO c) $14,

Variance analysis helps a company's attempts to develop continuously. Management may minimize…

Business

Accounting

Radon Corporation manufactured 33,000 grooming kits for horses during March. The following fixed overhead data pertain to March: Production Machine-hours Fixed overhead costs for March a) $9,000 unfavorable Ob) $14,400 favorable Oc) $14,400 unfavorable Static Budget 30,000 units What is the fixed overhead production-volume variance? d) $9,000 favorable Actual 33,000 units 6,100 6,000 hours hours $153,000 $144,000

Radon Corporation manufactured 33,000 grooming kits for horses during March. The following fixed overhead data pertain to March: Production Machine-hours Fixed overhead costs for March a) $9,000 unfavorable Ob) $14,400 favorable Oc) $14,400 unfavorable Static Budget 30,000 units What is the fixed overhead production-volume variance? d) $9,000 favorable Actual 33,000 units 6,100 6,000 hours hours $153,000 $144,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Calculating the Fixed Overhead Spending and Volume Variances Standish Company manufactures consumer products and provided the following information for the month of February:
Zitrik Corporation manufactured 130,000 buckets during February. The variable overhead cost-allocation base is $5.30 per machine-hour. The following variable overhead data pertain to February: Production Machine-hours Variable overhead cost per machine-hour What is the variable overhead efficiency variance? $2,650 unfavorable O $2,675 favorable $2,650 favorable $2,675 unfavorable Actual 130,000 units 9,500 hours $5.35 Budgeted 130,000 units 9,000 hours $5.30
Marv Company's direct labor costs for manufacturing its only product were as follows for October: Standard direct labor hours per unit of product 2.0 Budgeted finished units for the period 6,800 Actual number of finished units produced 5,200 Standard wage rate per direct labor hour (SP) $ 28.00 Direct labor costs incurred $ 299,000 Actual wage rate per direct labor hour (AP) $ 26.00 The direct labor rate variance for October, rounded to the nearest dollar, was: Multiple Choice $23,000 favorable. $51,200 unfavorable. $2,200 unfavorable. $20,400 favorable. $30,800 unfavorable.
The following information refers to the Finishing Department of Tom Company for the fourth quarter: Total actual Overhead                                    178,500 Budgeted Allowance Formula                        110,000 plus 0.50 per direct labor hour Predetermined factory overhead rate           1.50 per direct labor hour Spending variance                                          8,000 unfavorable                  Efficiency variance                                          9,000 unfavorable The total factory overhead is divided into three variances – spending, idle capacity and efficiency. Compute for the actual direct labor hours worked in the finishing department during the fourth quarter. Indicate if favorable or unfavorable.
FIXED FACTORY OVERHEAD VARIANCES AND JOURNAL ENTRIES (YOU MUST SHOW YOUR CALCULATIONS – NO CALCULATIONS, NO CREDIT). Company’s fixed factory overhead is budgeted at $300,000 for the year on an expected annual production level of 5,000 units. Each unit of finished product requires three (3) standard direct labor hours. Actual production in units:                                           4,950 units Actual direct labor hours worked                              15,100 hours Actual fixed factory overhead costs incurred:       $298,000 PREPARE JOURNAL ENTRY TO RECOGNIZE THE VARIANCES:
Factory Overhead Cost Variance Report Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 14,000 hours for production: Variable overhead costs: Indirect factory labor $44,800 Power and light 10,780 Indirect materials 21,000    Total variable overhead cost $76,580 Fixed overhead costs: Supervisory salaries $61,560 Depreciation of plant and equipment 16,200 Insurance and property taxes 30,240    Total fixed overhead cost 108,000 Total factory overhead cost $184,580 Tannin has available 18,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 13,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead costs: Indirect factory labor $40,560…
please help me
I cant figure this one out can someone help me?
Jackson Framing's cost formula for its supplies cost is $1,250 per month plus $14 per frame. For the month of December, the company planned for activity of 819 frames, but the actual level of activity was 822 frames. The actual supplies cost for the month was $12,580. The spending variance for supplies cost in November would be closest to: O $178 F $136 U O $178 F O $136 U
FIXED FACTORY OVERHEAD VARIANCES AND JOURNAL ENTRIES (YOU MUST SHOW YOUR CALCULATIONS – NO CALCULATIONS, NO CREDIT). Company’s fixed factory overhead is budgeted at $300,000 for the year on an expected annual production level of 5,000 units. Each unit of finished product requires three standard direct labor hours. Actual production in units: 4,950 units Actual direct labor hours worked 15,100 hours Actual fixed factory overhead costs incurred: $298,000 i) CALCULATE FIXED FACTORY OVERHEAD ALLOCATED. ii) CALCULATE FIXED FACTORY OVERHEAD SPENDING (PRICE VARIANCE).
Lazy Guy Corporation manufactured 4,000 chairs during June. The following variable overhead data relates to June: Budgeted variable overhead cost per unit $18.00 Actual variable manufacturing overhead cost $51,600 $46,600 Flexible - budget amount for variable manufacturing overhead Variable manufacturing overhead efficiency variance $740 unfavorable What is the variable overhead spending variance? A. $5,000 unfavorable B. $5,000 favorable C. $4,260 favorable D. $4,260 unfavorable