Tharaldson Corporation makes a product with the following standard costs: Direct materials. Direct labor Variable overhead The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost The variable overhead rate variance for June is: Multiple Choice O O Standard Quantity or Hours $1,200 F The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. $1,212 U $1,212 F Standard Price or Rate $ 3.00 per ounce $11.00 per hour $5.00 per hour 6.0 ounces 0.3 hours 0.3 hours 3,600 units 3,200 units 21,000 ounces 22,100 ounces 500 hours $ 42,300 $ 13,600 $ 3,700 Standard Cost Per Unit $18.00 $ 3.30 $ 1.50

Tharaldson Corporation makes a product with the following standard costs: Direct materials. Direct labor Variable overhead The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost The variable overhead rate variance for June is: Multiple Choice O O Standard Quantity or Hours $1,200 F The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. $1,212 U $1,212 F Standard Price or Rate $ 3.00 per ounce $11.00 per hour $5.00 per hour 6.0 ounces 0.3 hours 0.3 hours 3,600 units 3,200 units 21,000 ounces 22,100 ounces 500 hours $ 42,300 $ 13,600 $ 3,700 Standard Cost Per Unit $18.00 $ 3.30 $ 1.50

Name: Tharaldson Corporation makes a product with the following standard co
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Tharaldson Corporation makes a product with the following standard costs.Direct materials.Direct laborVariable overheadThe variable overhead rate variance for June is:The company reported the following results concerning this product in June.Origina

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

Taft Corporation uses a standard costing system in which variable manufacturing overhead is assigned to production on the basis of machine hours. The following data pertain to one month's operations: Variable manufacturing overhead cost incurred: Total flexible budget variable overhead cost: Standard machine hours allowed for actual production: $68,000 $74,550 3,550 MHs 3,000 MHs Actual machine hours incurred: 9 The variable overhead rate variance is: А. $6,550 Favorable $6,550 Unfavorable $5,000 Favorable В. С. D. $5,000 Unfavorable Е. None of the above
Solve this problem
The following standard costs were used for one of its products: Standard Cost per Unit Fixed overhead Total 9 hours @ $13 per hour $ 117 Overhead is applied to products on the basis of standard direct labor hours for actual production. The following information is available regarding the company's operations for the period: Actual units produced Total actual direct labor hours Actual fixed manufacturing overhead incurred Budgeted fixed manufacturing overhead for the period Budgeted units for the period Required: Calculate the fixed overhead variances. Use your answer to answer the following questions. 1,200 units 8,500 hours $110,000 $122,850 1,050 units
S Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of direct labor hours. Information from LLL's standard cost card follows: Variable manufacturing overhead Standard Standard Standard Quantity Rate Unit Cost 0.6 $0.80 $0.48 During August, LLL had the following actual results: Units produced and sold 25,000 Actual variable overhead $ 9,490 Actual direct labor hours 16,000 Required: Compute LLL's variable overhead rate variance, variable overhead efficiency variance, and over- or underapplied variable overhead. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable/Overapplied and "U" for unfavorable/underapplied.) Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance
Crash Bang, Co. uses a standard cost system and provides the following information:Standards: Static budget variable overhead $5,590.00. Static budget fixed overhead $22,180.00. Static budget direct labor hours 565 hours. Static budget number of units 20,200 units. Static budget direct labor hours 0.016 hours per unit. Crash Bang, Co. allocates manufacturing overhead to production based on standard direct labor hours. Crash Bang, Co. reported the following actual results for 2020:Actual: Number of units produced 21,000. Actual variable overhead $5,220.00 Actual fixed overhead $24,370.00. Actual direct labor hours 482. (Round your answers to two decimal places when needed and use rounded answers for all future calculations).1. Compute the variable overhead allocation rates. Budgeted VOH ? Budgeted allocation base = Standard VOH allocation rate = 2. Calculate the variable overhead cost and efficiency variances. (AC ? SC) ? AQ =…
Please solve fast and add proper calculation and explanation
Nevada Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate 3.00 per ounce 6.4 ounces 0.4 hours 0.4 hours $ $ 13.00 per hour S 5.00 per hour The company reported the following results concerning this product in March. Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Direct materials Direct labor Variable overhead Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual variable overhead rate O $3,136 F O $3,260 F S S S O $3,136 U O $3,260 U Standard Cost Per Unit S S S 4,800 units 4,900 units 30,230 ounces 1,910 hours. 32,600 ounces 2.90 per ounce 12.40 per hour 4.90 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for March is: 19.20 5.20 2.00
Valera Corporation makes a product with the following standards for labor and variable overhead: Direct labor Variable overhead Standard Quantity Standard Price or Standard Cost Per or Hours 0.4 hours 0.4 hours Rate $21.00 per hour. $ 6.00 per hour Unit $8.40 $2.40 The company budgeted for production of 5,300 units in July, but actual production was 5,400 units. The company used 2,130 direct labor-hours to produce this output. The actual variable overhead rate was $6.10 per hour. The company applies variable overhead on the basis of direct labor-hours. The variable overhead rate variance for July is:
Please do not give solution in image format thanku
Happy Valley Pet Products uses a standard costing system that applies overhead to products based on standard direct labour-hours allowed for actual output of the period. During the recent year, the following data were collected: Total budgeted fixed overhead cost for the year Budgeted standard direct labour-hours Actual fixed overhead cost for the year Actual direct labour-hours Standard direct labour-hours allowed for the actual output $63,450 $60,950 14,100 15,300 12,600 Required. 1. Compute the fixed portion of the predetermined overhead rate for the year. (Round your answer to 2 decimal places.) Predetermined overhead rate per DLH 2. Compute the fixed overhead budget and volume variances. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) Fixed overhead budget variance Fixed overhead volume variance
Please provide answer in text (Without image)
Subject: acounting