Tat Manufacturing Corporation uses a standard cost system with machine-hours as the activity base for overhead.The following information relates to production for last year.VariableFixedTotal budgeted overhead (at the denominator level of activity)Total applied overhead$ 432,000 $ 684,000$ 410,400 $ 649,800$ 456,000 $ 655,500Total actual overheadThe standard machine-hours allowed for the actual output during the year were 7,600. The actual machine-hoursincurred were 7,500.11 What was Taft's variable overhead efficiency variance?A.2$21,600 FavorableB.$51,000 Unfavorable69982$2$$ 45,600 UnfavorableС.5,400 FavorableD.E. None of the above75012 Hoover Corporation uses a standard cost system in which it applies manufacturing overhead to units of product onthe basis of standard direct labor-hours (DLHS). Hoover's total applied factory overhead was $315,000 last yearwhen the standard DLHS for the actual output were 30,000 hours. The standard variable factory overhead rate was$8 per DLH.To determine the pre-determined overhead rates, Hoover used 31,000 DLHS as the denominator. The total budgeted.fixed factory overhead for the year must have been:3155,00$75,000$77,500$90,000$100,000А.В.31С.D.E. None of the above

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Description: Tat Manufacturing Corporation uses a standard cost system with machine-hours as the activity base for overhead.The following information relates to production for last year.VariableFixedTotal budgeted overhead (at the denominator level of activity)T

Computation of the variable overhead efficiency variance is as follows: Formula: Variable overhead…

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Tat Manufacturing Corporation uses a standard cost system with machine-hours as the activity base for overhead. The following information relates to production for last year: Variable Fixed Total budgeted overhead (at the denominator level of activity) Total applied overhead $ 432,000 $ 684,000 $ 410,400 $ 649,800 $ 456,000 $ 655,500 Total actual overhead The standard machine-hours allowed for the actual output during the year were 7,600. The actual machine-hours incurred were 7,500. 11 What was Taft's variable overhead efficiency variance? A. 24 21,600 Favorable B. 2$ 51,000 Unfavorable 6498 C. 24 5,400 Favorable D. 2$ 45,600 Unfavorable E. None of the above 750 12 Hoover Corporation uses a standard cost system in which it applies manufacturing overhead to units of product on the basis of standard direct labor-hours (DLHS). Hoover's total applied factory overhead was $315,000 last year when the standard DLHS for the actual output were 30,000 hours. The standard variable factory overhead rate was $8 per DLH. To determine the pre-determined overhead rates, Hoover used 31,000 DLHS as the denominator. The total budgeted fixed factory overhead for the year must have been: $75,000 $77,500 $90,000 315,0 А. В.

Tat Manufacturing Corporation uses a standard cost system with machine-hours as the activity base for overhead. The following information relates to production for last year: Variable Fixed Total budgeted overhead (at the denominator level of activity) Total applied overhead $ 432,000 $ 684,000 $ 410,400 $ 649,800 $ 456,000 $ 655,500 Total actual overhead The standard machine-hours allowed for the actual output during the year were 7,600. The actual machine-hours incurred were 7,500. 11 What was Taft's variable overhead efficiency variance? A. 24 21,600 Favorable B. 2$ 51,000 Unfavorable 6498 C. 24 5,400 Favorable D. 2$ 45,600 Unfavorable E. None of the above 750 12 Hoover Corporation uses a standard cost system in which it applies manufacturing overhead to units of product on the basis of standard direct labor-hours (DLHS). Hoover's total applied factory overhead was $315,000 last year when the standard DLHS for the actual output were 30,000 hours. The standard variable factory overhead rate was $8 per DLH. To determine the pre-determined overhead rates, Hoover used 31,000 DLHS as the denominator. The total budgeted fixed factory overhead for the year must have been: $75,000 $77,500 $90,000 315,0 А. В.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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A company uses a standard costing system and applies overhead to production based on direct labor-hours. It provided the following information for its most recent year. $300,000 $276,000 60,000 56,000 56,500 Budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted direct labor-hours (denominator hours) Actual direct labor-hours Standard direct labor-hours al1lowed for actual output What is the fixed overhead volume variance? Multiple Cholce $20,000 F $17,500 U $20,000 U MacBook Air 吕口豐

The following data pertain to the current year:Budgeted manufacturing overhead: OMR 450,000Actual manufacturing overhead: OMR 390,000Budgeted machine hours: 30,000 hrs.Actual machine hours: 33,000 hrs.Overhead applied to production totaled: Select one: a.449,000 b.495,000 c.435,000 d.355,000
The following information relates to Steele Manufacturing's overhead costs for the month: Static budget variable overhead $35,900 Static budget fixed overhead $15,600 Static budget direct labor hours 15,400 hours Static budget number of units 5,500 units Steele allocates variable manufacturing overhead to production based on standard direct labor hours. Steele reported the following actual results for last month: actual variable overhead, $35,400;actual fixed overhead, $15,400; actual production of 5,400 units at 2.4 direct labor hours per unit. The standard direct labor time is 2.8 direct labor hours per unit. Compute the variable overhead efficiency variance. (Round the answer to the nearest dollar.) A. $4,474 U B. $5,033 U C. $4,474 F D. $5,033 F
immy Author Company has the following data for the past year: Actual overhead $512,000 Applied overhead: Work-in-process inventory $125,000 Finished goods inventory 170,000 Cost of goods sold 150,000 Total $445,000 Calculate the overhead variance for the year and close it to cost of goods sold. Provide all the details and working outs.
The following information was taken from the annual manufacturing overhead cost budget of SCM Company
Overhead rate per hour?
Just answer the questions for nos. 20-22 based on the picture.
Der Company uses a standard cost system in which it applies manufacturing overhead on the basis of direct labor-hours. Two direct labor-hours are required for each unit produced. The budgeted activity was set at 9,000 units. Manufacturing overhead was budgeted at $135,000 for the period; 20 percent of this cost was fixed. The 17,200 hours worked during the period resulted in production of 8,500 units. Variable manufacturing overhead cost incurred was $108,500 and fixed manufacturing overhead cost was $28,000. The fixed overhead production volume variance for the period was: a) $750 unfavorable. b) $2,500 unfavorable. c) $1,500 unfavorable. d) $1,000 unfavorable.
Below is the selected information for a company for last year: Budgeted fixed manufacturing overhead cost Denominator activity (machine-hours) Standard machine-hours allowed per unit Actual number of units produced Underapplied fixed manufacturing overhead $270,000 45,000 3 14,000 $15,200 Actual fixed cost for last year was: 236,800 O 267,200 254,800 285,200
Anthon Corporation has provided the following information regarding last month's activities. Units produced (actual) Master production budget Direct materials Direct labor Overhead Standard costs per unit Direct materials Direct labor Variable overhead Actual costs Direct materials purchased and used Direct labor Overhead Direct materials Direct labor Variable overhead Fixed overhead 11,040 $ 241,164 204,624 281,967 Price Variance $ 3.96 per liter x 5 liters per unit of output $ 33.60 per hour x 0.50 hour per unit $ 30.30 per direct labor-hour Variable overhead is applied on the basis of direct labor-hours. Required: Calculate all variable production cost price and efficiency variances and fixed production cost price and production volume variances. Note: Do not round intermediate calculations. 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. $ 242,580 (62,200 liters). 182,628 (5,340 hours)…
The data below relate to the month of November for Badong, Inc. which uses a standard cost system: Actual direct labor cost, P43,400 Actual hours used, 14,000 Standard hours allowed for good output, 15,000 Direct labor rate variance – debit, 1,400 Actual total overhead, 32,000 Budgeted fixed cost, 9,000 Normal activity in hours, 12,000 Total application rate per standard direct labor hour, 2.25 Badong uses a two-way analysis of overhead variance. What was Badong’s direct labor usage variance for November? P3,200 favorable P3,000 favorable P3,000 unfavorable P3,200 unfavorable
Primara Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Total budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted direct labor-hours (denominator level of activity) Actual direct labor-hours Standard direct labor-hours allowed for the actual output $ 426,4e0 $ 420,400 52,ee0 53,000 50,000 Requlred: 1. Compute the fixed portion of the predetermined overhead rate for the year. (Round Flxed portion of the predetermIned overhead rate to 2 declmal places.) 2 Compute the fixed overhead budget variance and volume variance.. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero varlance.). Input ell amounts as positlve values.) 1. Fixed portion of the predetermined overhead rate per DLH 2. Budget variance Volume…