Shaw Company produced 730 units. Its overhead alocation base is DLH and its standard amount per allocation base is 8 DLH per unitits standard overhead rate is $10 per DLH. The flexible overhead budget at an activity level of 730 units shows $28,500 in varlableoverhead costs and $32.500 in fixed overhead costs. Compute the volume variance. (Indicate the effect of the variance by selectingfavorable, unfavorable, or no variance)Volume VarianeeButpeted eble overhead atuns producedStandard overhead appledVolume variance

Volume variance refers to the difference among the actual sold quantity as well as the budgeted…

Shaw Company produced 730 units. ts overhead allocation base is OLH and its standard amount per allocation base is 8 DLH per unit ts standard overhead rate is $10 per DLH. The flexible overhead budget at an activity level of 730 units shows $28,500 in varlable overhead costs and S32.500 in fed overhead costs. Compute the volume variance. (Indicate the effect of the variance by selecting faverable, unfavorable, or no variance) Verane butad (ee overhead at units produced Sandard overhead appled Volume variance

Shaw Company produced 730 units. ts overhead allocation base is OLH and its standard amount per allocation base is 8 DLH per unit ts standard overhead rate is $10 per DLH. The flexible overhead budget at an activity level of 730 units shows $28,500 in varlable overhead costs and S32.500 in fed overhead costs. Compute the volume variance. (Indicate the effect of the variance by selecting faverable, unfavorable, or no variance) Verane butad (ee overhead at units produced Sandard overhead appled Volume variance

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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Resset Co. provides the following results of April’s operations: F indicates favorable and U indicates unfavorable. In applying management by exception, the company investigates all variances of $400 or more. Which variances will the company investigate? Direct materials price variance . $ 300 F Direct labor efficiency variance . $2,200 F Direct materials quantity variance . 3,000 U Controllable overhead variance . 400 U Direct labor rate variance . 100 U Fixed overhead volume variance . 500 F
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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.
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