The following information relates to manufacturing overhead for Chapman Company: Standards: Total fixed factory overhead $450,000 Estimated production 25,000 units (100% of normal capacity) Overhead rates are based on machine hours. Standard hours allowed per unit produced 2 Fixed overhead rate $9.00 per machine hour Variable overhead rate $3.50 per hour Actual: Fixed factory overhead $450,000 Production 24,000 units Variable overhead $170,000 Compute the following: Enter favorable variances as negative numbers. a. Fixed factory overhead volume variance b. Variable factory overhead controllable variance c. Total factory overhead cost variance %24 %24

The following information relates to manufacturing overhead for Chapman Company: Standards: Total fixed factory overhead $450,000 Estimated production 25,000 units (100% of normal capacity) Overhead rates are based on machine hours. Standard hours allowed per unit produced 2 Fixed overhead rate $9.00 per machine hour Variable overhead rate $3.50 per hour Actual: Fixed factory overhead $450,000 Production 24,000 units Variable overhead $170,000 Compute the following: Enter favorable variances as negative numbers. a. Fixed factory overhead volume variance b. Variable factory overhead controllable variance c. Total factory overhead cost variance %24 %24

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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