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The following data relate to factory overhead cost for the production of 7,000 computers: Variable factory overhead $203,700 Fixed factory overhead 55,000 Standard: 7,000 hrs. at $35 If productive capacity of 100% was 11,000 hours and the total factory overhead cost budgeted at the level of 7,000 standard hours was $265,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $5 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Actual: Variance Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance 245,000 Amount $fill in the blank 1 fill in the blank 3. $fill in the blank 5 Favorable/Unfavorable FavorableUnfavorable FavorableUnfavorable FavorableUnfavorable

The following data relate to factory overhead cost for the production of 7,000 computers: Variable factory overhead $203,700 Fixed factory overhead 55,000 Standard: 7,000 hrs. at $35 If productive capacity of 100% was 11,000 hours and the total factory overhead cost budgeted at the level of 7,000 standard hours was $265,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $5 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Actual: Variance Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance 245,000 Amount $fill in the blank 1 fill in the blank 3. $fill in the blank 5 Favorable/Unfavorable FavorableUnfavorable FavorableUnfavorable FavorableUnfavorable

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The following data relate to factory overhead cost for the production of 7,000 computers: Variable factory overhead $203,700 Fixed factory overhead 7,000 hrs. at $35 If productive capacity of 100% was 11,000 hours and the total factory overhead cost budgeted at the level of 7,000 standard hours was $265,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $5 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Actual: Standard: Variance Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance 55,000 245,000 Amount $fill in the blank 1 fill in the blank 3. $fill in the blank 5 Favorable/Unfavorable FavorableUnfavorable FavorableUnfavorable FavorableUnfavorable
Transcribed Image Text:The following data relate to factory overhead cost for the production of 7,000 computers: Variable factory overhead $203,700 Fixed factory overhead 7,000 hrs. at $35 If productive capacity of 100% was 11,000 hours and the total factory overhead cost budgeted at the level of 7,000 standard hours was $265,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $5 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Actual: Standard: Variance Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance 55,000 245,000 Amount $fill in the blank 1 fill in the blank 3. $fill in the blank 5 Favorable/Unfavorable FavorableUnfavorable FavorableUnfavorable FavorableUnfavorable
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