The following information is available from the Terry Company: Actual total factory overhead cost incurred $39,000 Actual fixed overhead cost incurred $ 11,000 Budgeted fixed overhead expenses $ 17,000 Actual direct labor hours (DLH) worked 6,800 Standard DLHs for this period's production (output) 3,600 Standard variable overhead rate per DLH $ 3.00 Standard fixed overhead rate per DLH $ 2.50 The total overhead flexible-budget (FB) variance for the period, to the nearest dollar, is:

The following information is available from the Terry Company: Actual total factory overhead cost incurred $39,000 Actual fixed overhead cost incurred $ 11,000 Budgeted fixed overhead expenses $ 17,000 Actual direct labor hours (DLH) worked 6,800 Standard DLHs for this period's production (output) 3,600 Standard variable overhead rate per DLH $ 3.00 Standard fixed overhead rate per DLH $ 2.50 The total overhead flexible-budget (FB) variance for the period, to the nearest dollar, is:

Name: The following information is available fromthe Terry Company: Actual
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Description: The following information is available fromthe Terry Company: Actual total factoryoverhead cost incurred $39,000 Actualfixed overhead cost incurred $ 11,000Budgeted fixed overhead expenses $17,000 Actual direct labor hours (DLH)worked 6,800 Standard

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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A company uses a standard costing system and applies overhead to production based on direct labor-hours. It provided the following information for its most recent year. $300,000 $276,000 60,000 56,000 56,500 Budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted direct labor-hours (denominator hours) Actual direct labor-hours Standard direct labor-hours al1lowed for actual output What is the fixed overhead volume variance? Multiple Cholce $20,000 F $17,500 U $20,000 U MacBook Air 吕口豐

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