The following information is available for Harrison's Hot Dogs: Actual production -12,320 packages Budgeted production 12,500 packages Standard direct labor hours - 1.5 direct labor hours per package Actual direct labor hours - 19,500 The standard variable overhead rate - i$3 per direct labor hour The actual variable overhead costs - $50,000. Calculate the variable overhead spending and efficiency variances.

The following information is available for Harrison's Hot Dogs: Actual production -12,320 packages Budgeted production 12,500 packages Standard direct labor hours - 1.5 direct labor hours per package Actual direct labor hours - 19,500 The standard variable overhead rate - i$3 per direct labor hour The actual variable overhead costs - $50,000. Calculate the variable overhead spending and efficiency variances.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter10: Standard Costing And Variance Analysis

Section: Chapter Questions

Problem 58E: At the beginning of the year, Lopez Company had the following standard cost sheet for one of its...

See similar textbooks

Similar questions

At the beginning of the year, Lopez Company had the following standard cost sheet for one of its chemical products: Lopez computes its overhead rates using practical volume, which is 80,000 units. The actual results for the year are as follows: (a) Units produced: 79,600; (b) Direct labor: 158,900 hours at 18.10; (c) FOH: 831,000; and (d) VOH: 112,400. Required: 1. Compute the variable overhead spending and efficiency variances. 2. Compute the fixed overhead spending and volume variances.
ThingOne Company has the following information available for the past year. They use machine hours to allocate overhead. What is the variable overhead efficiency variance?
A company reports the following Information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced AH = Actual Hours SH - Standard Hours AR = Actual Rate SR Standard Rate = 59,000 $ 16 $ 14 60,100 Compute the direct labor rate and efficiency variances and Identify each as favorable or unfavorable. Actual Cost Standard Cost
XYZ company produces a unit where delivery of its units to customers are related with all of the overheads.Computer expenditure and efficiency variance-ABC method. Budget: Overheads=4,000 Output =2,000 units Deliveries=20 Actual: Overheads =3,900 Output =2,100 units Deliveries to customers =19
Mosaic Company applies overhead using machine hours and reports the following information. Compute the total variable overhead cost variance and classify it as favorable or unfavorable. Actual machine hours used . 4,700 hours Standard machine hours (for actual production) 5,000 hours Actual variable overhead rate per hour $4.15 Standard variable overhead rate per hour . $4.00
Given on the following information, calculate the variable overhead rate variance. Actual variable overhead cost $15,500; Actual hours used 4,200, Standard hours allowed 4,000; and Standard variable overhead rate $3.75 per hour. O $500 F O $250 U O $250 F O $500 U Î
Aretha Company provided the following information: Standard variable overhead rate (SVOR) per direct labor hour $4.70 Actual variable overhead costs $335,750 Actual direct labor hours worked (AH) 69,200 Actual production in units 14,000 Standard hours (SH) allowed for actual units produced 70,000 Required: 1. Calculate the total variable overhead variance. Enter amount as a positive number and select Favorable or Unfavorable.2. Using the formula approach, calculate the variable overhead spending variance. Enter amount as a positive number and select Favorable or Unfavorable. $fill in the blank 11 Unfavorable 3. Using the formula approach, calculate the variable overhead efficiency variance. Enter amount as a positive number and select Favorable or Unfavorable.
A company, which uses standard costing, manufactures a single product with the following cost card: Standard Direct Labor Hours allowed per unit of product 4.5 DLHS Standard Direct Labor Rate Selected results for the most recent period are: Budgeted Production Actual Production Actual Direct Labor Cost Actual Direct Labor Hours Labor Rate Variance Labor Spending Variance What is the Labor Rate Variance? 2,200 units 2,500 units $ 125,000 S 11,700 hours ? 4,150 Favorable ?per DLH
company produces a unit where delivery of units to its customers are related with all overheads. Compute expenditure and efficiency variance-ABC method Budget: Overheads=4,000 Output=2,000 units Deliveries-customer=20 Actual: Overheads=3,900 Output=2,100 units Deliveries-customer=19
Gemini
Acme Inc. has the following information available: Actual Price paid for material $1.00 Standard Price for material $0.90 Actual quantity purchased and used in production 100 Standard quantity for units produced 90 Actual labor rate per hour $15.00 Standard labor rate per hour $14.00 Actual hours 200 hours Standard hours for units produced 190 hours Variance Variance Amount Favorable (F) or Unfavorable (U) Material Price Material Quantity Total DM Cost Variance Labor Rate Labor Efficiency Total DL Cost Variance
Compute for variable overhead efficiency variance.