Shaw Company produced 730 units, Its overhead allocation base is DLH and its standard amount per allocation base is 8 DLH per unit ts standard overhead rate is $10 per DLH. The fexible overhead budget at an activity level of 730 units shows $28,500 in variable overhead costs and $32.500 in fed overhead costs Compute the volume variance. Indicate the effect of the variance by selecting favorable, unfavorable, or no variance)

Shaw Company produced 730 units, Its overhead allocation base is DLH and its standard amount per allocation base is 8 DLH per unit ts standard overhead rate is $10 per DLH. The fexible overhead budget at an activity level of 730 units shows $28,500 in variable overhead costs and $32.500 in fed overhead costs Compute the volume variance. Indicate the effect of the variance by selecting favorable, unfavorable, or no variance)

Name: Shaw Company produced 730 units. Its overhead allocation base is DLH
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Shaw Company produced 730 units. Its overhead allocation base is DLH and its standard amount per allocation base is 8 DLH per unths standard overhead rate is $10 per DLH. The flexible overhead budget at an activity level of 730 units shows $28,500 i

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

Starts Inc. produces a product that require 8.00 standard hours per unit at a standard hourly rate of $32.00 per hour. Production of 2,500 units required 18,000 hours at an hourly rate of $35.00 per hour. What is the direct labor (a) rate variance, (b) time variance, and (c) total cost variance? (d) Perform the journal entries related to the variances.
Please fill in these charts
The standard direct material cost per unit for Willis Group was $152 (= $38 per gallon × 4 gallons per unit). During the period, actual direct materials costs amounted to $2,020,690, materials used totaled 55,475 gallons, and 13,270 units were produced. Required: Compute the direct materials price and efficiency variances for the period. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.
Please compute controllable variance and volume variance.
Starts Inc. produces a product that require 3.50 standard hours per unit at a standard hourly rate of $17.00 per hour. Production of 7,500 units required 27,550 hours at an hourly rate of $16.00 per hour. What is the direct labor (a) rate variance, (b) time variance, and (c) total cost variance? (d) Perform the journal entries related to the variances.
Compute for the variances of the problem using the information given. Answer the numbers only up to two decimal places. A. Compute for Labor Efficiency Variance B. Compute for Labor Spending Variance C. Compute for Labor Rate Variance
Information on Grixdale Partner's fixed overhead costs follows: Overhead applied $ 1,227,800 Actual overhead 1,153,200 Budgeted overhead 1,207,000 Required: What are the fixed overhead price and production volume variances? Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.
Alvarez Company’s output for the current period yields a $20,000 favorable overhead volume variance and a $60,400 unfavorable overhead controllable variance. Standard overhead applied to production for the period is $225,000. What is the actual total overhead cost incurred for the period?
Feagin Company’s actual variable overhead was $73,000. Actual direct labor hours were 25,000 to make 20,000 finished products. The per-unit standard for direct labor hour is 1.5 hours, and the pre-determined variable overhead rate is $3 per direct labor hour. What were (1) the variable overhead spending variance (2) the variable overhead efficiency variance?
Also, compute the fixed overhead production volume variance
Stuart Company established a predetermined fixed overhead cost rate of $35 per unit of product. The company planned to make 6,500 units of product but actually produced only 6,000 units. Actual fixed overhead costs were $235,600. Required a. Determine the fixed cost spending variance and indicate whether it is favorable (F) or unfavorable (U). b. Determine the fixed cost volume variance and indicate whether it is favorable (F) or unfavorable (U). Note: For all requirements, Select "None" if there is no effect (i.e., zero variance). a. Total spending variance b. Total volume variance U U
Oriole Company's actual results reveal that it was profitable in the sale of its star product: a high-end spot-cleaning vacuum for upholstery. But it was not nearly as profitable as management had hoped. Oriole's actual income statement and master budget income statement are as follows. In order to keep the focus on product costs, SG&A costs were omitted. Units sold Revenues Variable costs DM DL Variable-MOH Contribution margin Fixed-MOH Operating income DM DL Input Variable-MOH Actual Results Fixed-MOH 10,000 $1,670,000 560,500 216,000 Here are the company's standard cost cards for each product cost. 130,500 763,000 306,000 $457,000 Quantity Standards 3.0 yards 1.6 hours 1.6 hours. Flexible Budget 1.6 hours Price Standards $18.00 per yard $11.00 per hour $7.50 per hour $15.50 per hour Master Budget 12,000 $2,076,000 648,000 211,200 144,000 1,072,800 297,600 $775,200 Standard Cost per Unit $54.00 $17.60 $12.00 $24.80