! Required information Use the following information for the Exercises below. Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output Actual results for April are as follows: Actual output $6 per direct-labor hour 2.0 hours per unit of output 32,000 units $ 128,000 25,600 units Actual variable overhead $ 409,600 Actual fixed overhead Actual direct labor $ 124,160 64,000 hours EX 11-22 (Algo) Straightforward Computation of Overhead Variances (LO 11-5) Required: Use the variance formulas to compute the following variances. Note: Indicate the effect of the first three variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance). Select "Positive" or "Negative" for the Fixed-overhead Volume variance. 1. Variable-overhead spending variance 2. Variable-overhead efficiency variance 3. Fixed-overhead budget variance 4. Fixed-overhead volume variance
! Required information Use the following information for the Exercises below. Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output Actual results for April are as follows: Actual output $6 per direct-labor hour 2.0 hours per unit of output 32,000 units $ 128,000 25,600 units Actual variable overhead $ 409,600 Actual fixed overhead Actual direct labor $ 124,160 64,000 hours EX 11-22 (Algo) Straightforward Computation of Overhead Variances (LO 11-5) Required: Use the variance formulas to compute the following variances. Note: Indicate the effect of the first three variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no effect (i.e., zero variance). Select "Positive" or "Negative" for the Fixed-overhead Volume variance. 1. Variable-overhead spending variance 2. Variable-overhead efficiency variance 3. Fixed-overhead budget variance 4. Fixed-overhead volume variance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sagar
Transcribed Image Text:!
Required information
Use the following information for the Exercises below.
Crystal Glassware Company has the following standards and flexible-budget data.
Standard variable-overhead rate
Standard quantity of direct labor
Budgeted fixed overhead
Budgeted output
Actual results for April are as follows:
Actual output
$6 per direct-labor hour
2.0 hours per unit of output
32,000 units
$ 128,000
25,600 units
Actual variable overhead
$ 409,600
Actual fixed overhead
Actual direct labor
$ 124,160
64,000 hours
EX 11-22 (Algo) Straightforward Computation of Overhead Variances (LO 11-5)
Required:
Use the variance formulas to compute the following variances.
Note: Indicate the effect of the first three variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "O" for no
effect (i.e., zero variance). Select "Positive" or "Negative" for the Fixed-overhead Volume variance.
1. Variable-overhead spending variance
2. Variable-overhead efficiency variance
3. Fixed-overhead budget variance
4. Fixed-overhead volume variance
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