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The following data relate to factory overhead cost for the production of 8,000 computers: Actual: Variable factory overhead $112,500 Fixed factory overhead 45,500 Standard: 8,000 hrs. at $18 144,000 If productive capacity of 100% was 13,000 hours and the total factory overhead cost budgeted at the level of 8,000 standard hours was $161,500, determine the variable factory overhead Controllable Variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $3.5 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 Controllable variance Favorable v Volume variance Unfavorable v Total factory overhead cost variance Unfavorable

The following data relate to factory overhead cost for the production of 8,000 computers: Actual: Variable factory overhead $112,500 Fixed factory overhead 45,500 Standard: 8,000 hrs. at $18 144,000 If productive capacity of 100% was 13,000 hours and the total factory overhead cost budgeted at the level of 8,000 standard hours was $161,500, determine the variable factory overhead Controllable Variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $3.5 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 Controllable variance Favorable v Volume variance Unfavorable v Total factory overhead cost variance Unfavorable

FINANCIAL ACCOUNTING
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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Performance Eval Variances: Refer to the picture. Thank you!

Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 8,000 computers: Actual: Variable factory overhead $112,500 Fixed factory overhead 45,500 Standard: 8,000 hrs. at $18 144,000 If productive capacity of 100% was 13,000 hours and the total factory overhead cost budgeted at the level of 8,000 standard hours was $161,500, determine the variable factory overhead Controllable Variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $3.5 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 Controllable variance $ Favorable Volume variance $ Unfavorable Total factory overhead cost variance Unfavorable
Transcribed Image Text:Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 8,000 computers: Actual: Variable factory overhead $112,500 Fixed factory overhead 45,500 Standard: 8,000 hrs. at $18 144,000 If productive capacity of 100% was 13,000 hours and the total factory overhead cost budgeted at the level of 8,000 standard hours was $161,500, determine the variable factory overhead Controllable Variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $3.5 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 Controllable variance $ Favorable Volume variance $ Unfavorable Total factory overhead cost variance Unfavorable
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