Determine controllable variance and volume variance. Factory Overhead Cost VariancesThe following data relate to factory overhead cost for the production of 6,000 computers:Actual:Variable factory overhead$234,300Fixed factory overhead67,500Standard:6,000 hrs. at $47282,000If productive capacity of 100% was 10,000 hours and the total factory overhead cost budgeted at the level of 6,000 standard hours was $309,000, determine thevariable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was$6.75 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.VarianceAmountFavorable/UnfavorableVariable factory overhead controllable variance7,200 XFavorableFixed factory overhead volume variance-27,000 XUnfavorableTotal factory overhead cost variance-19,800 xUnfavorable v Factory Overhead Cost VariancesBlumen Textiles Corporation began April with a budget for 22,000 hours of production in the Weaving Department. The department has a full capacity of 29,000 hoursunder normal business conditions. The budgeted overhead at the planned volumes at the beginning of April was as follows:Variable overhead$59,400Fixed overhead40,600Total$100,000The actual factory overhead was $101,200 for April. The actual fixed factory overhead was as budgeted. During April, the Weaving Department had standard hours atactual production volume of 23,000 hours. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.Round your interim computations to the nearest cent, if required.a. Determine the variable factory overhead controllable variance.1,500 xFavorable Vb. Determine the fixed factory overhead volume variance.322,000 x Unfavorable v

The following data relate to factory overhead cost for the production of 6,000 computers: Actual: Variable factory overhead $234,300 Fixed factory overhead 67,500 Standard: 6,000 hrs. at $47 282,000 If productive capacity of 100% was 10,000 hours and the total factory overhead cost budgeted at the level of 6,000 standard hours was $309,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $6.75 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variance Amount Favorable/Unfavorable Variable factory overhead controllable variance 7,200 x Favorable v Fixed factory overhead volume variance -27,000 x Unfavorable v Total factory overhead cost variance -19,800 X Unfavorable v

The following data relate to factory overhead cost for the production of 6,000 computers: Actual: Variable factory overhead $234,300 Fixed factory overhead 67,500 Standard: 6,000 hrs. at $47 282,000 If productive capacity of 100% was 10,000 hours and the total factory overhead cost budgeted at the level of 6,000 standard hours was $309,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $6.75 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variance Amount Favorable/Unfavorable Variable factory overhead controllable variance 7,200 x Favorable v Fixed factory overhead volume variance -27,000 x Unfavorable v Total factory overhead cost variance -19,800 X Unfavorable v

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

Investor is considering using semi-variance instead of variance. State the argument in favour of using semi-variance instead of variance. Under what circumstance would the use of semi-variance not make any difference? a) b)
What is unfavorable variance? Give three examples?
How can we determine the mean and variance of the NPW on the basis of the three NPW estimates?
Describe the two basic differences between the weighted average and the FIFO method.
Which measure of central tendency is best used for categorical data? a) Mean b) Median c) Mode d) Standard Deviation
Which of the following statistical techniques are used to test controls? Mean-per-unit sampling. Attribute sampling. Difference estimation. Ratio estimation.
Identify differences between the determination of sample size under classical variables samplingand MUS.