Please give me answer accounting The following standards for variable overhead have been established for acompany that makes only one product:Standard hours per unit of output 4.4 hoursStandard variable overhead rate $16.00 per hourThe following data pertain to operations for the last month:Actual hours8,100 hoursActual total variable overhead cost $124,990Actual output1,820 unitsWhat is the variable overhead rate variance for the month?

Step 1: Define VarianceWhen a variance has reached the company's set amount when management by…

Answered: The following standards for variable…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 7PA: Ellis Companys labor information for September is as follows: A. Compute the standard direct labor...

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Misterio Company uses a standard costing system. During the past quarter, the following variances were computed: Misterio applies variable overhead using a standard rate of 2 per direct labor hour allowed. Two direct labor hours are allowed per unit produced. (Only one type of product is manufactured.) During the quarter, Misterio used 30 percent more direct labor hours than should have been used. Required: 1. What were the actual direct labor hours worked? The total hours allowed? 2. What is the standard hourly rate for direct labor? The actual hourly rate? 3. How many actual units were produced?
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?
At the end of the period, the factory overhead account has a credit balance of 10,000. (a) Is the total factory cost variance favorable or unfavorable? (b) Are the controllable and volume variances favorable or unfavorable?
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.
Marymount Company makes one product. In the month of April, it made 3,500 units. Workers were paid $32 per hour for labor, for a total of $718,848. The standard hours per unit are 6.4, and the standard labor wage rate is $38.40 per hour. A. What are the actual hours worked? B. What are the standard hours for the units made? C. What is the direct labor rate variance for April? D. What Is the direct labor time variance for April? E. What is the total direct labor variance for April?
Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450 hours per the standard cost card. Their employees were paid $15.75 per hour for the month of June. The standard cost card uses $15.50 as the standard hourly rate. A. Compute the direct labor rate and time variances for the month of June, and also calculate the total direct labor variance. B. If the standard rate per hour was $16.00, what would change?
ABC Inc. spent a total of $48,000 on factory overhead. Of this, $28,000 was fixed overhead. ABC Inc. had budgeted $27,000 for fixed overhead. Actual machine hours were 5.000. Standard hours for units made were 4,800. The standard variable overhead rate was $4.10. What is the variable overhead rate variance?
Calculating amount of factory overhead applied to work in process The overhead application rate for a company is 2.50 per unit, made up of 1.00 for fixed overhead and 1.50 for variable overhead. Normal capacity is 10,000 units. In one month, there was an unfavorable flexible budget variance of 200. Actual overhead for the month was 27,000. What was the amount of the budgeted overhead for the actual level of production?
need correct answer in details
The following standards for variable manufacturing overhead have been established for a company that makes only one product: Standard hours per unit of output - 3.2 hoursStandard variable overhead rate - P12.70 per hour The following data pertain to operations for the last month: Actual hours - 1,600 hoursActual total variable overhead cost - P19,600Actual output - 400 units What is the variable overhead spending variance for the month (F)?
The following standards for variable overhead have been established for a company that makes only one product: 4.7 hours $ 16.00 per hour Standard hours per unit of output Standard variable overhead rate The following data pertain to operations for the last month: 8,400 hours $ 125,020 1,770 units Actual hours Actual total variable overhead cost Actual output Required: a. What is the variable overhead rate variance for the month? b. What is the variable overhead efficiency variance for the month? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) a. Variable overhead rate variance b. Variable overhead efficiency variance
The following standards for variable overhead have been established for a company that makes only one product: The following data pertain to operations for the last month: What is the variable overhead rate variance for the month? Select one: a. $2,050 U b. $8,166 U c. $6,226 U d. $1,940 F

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