The management of​ Pamela's Pet Supplies has calculated the following​ variances:   Direct materials cost variance $10,000 U Direct materials efficiency variance 40,000 F Direct labor cost variance 15,000 F Direct labor efficiency variance 13,500 U Total variable overhead variance 8,000 F Fixed overhead cost variance 4,500 F   When determining the total product cost flexible budget​ variance, what is the fixed overhead variance of the​ company?   A. $13,500 U   B. $10,000 U   C. $4,500 F   D. $12,500 F

Q: The management of Watchdog Security Systems has calculated the following variances: $9,000 U 40,000…

A: Solution:- Calculation of the Total Direct Labour Variance of the company as follows:-

Q: Cost of Goods Sold (at standard) $361,000   Direct Labor Efficiency Variance $19,000 F Sales Revenue…

A: Standard cost income statement is the income statement used by manufacturing firms for recording the…

Q: The flexible-budget variance for materials is $5,000 (U). The sales-volume variance is $13,000 (U).…

A: Flexible budgets is prepared for various levels within the relevant range. In flexible budget costs…

Q: need help finding the: - materials price variance & the materials quantity variance - labor rate…

A:

Q: The following data relate to labor cost for production of 5,600 cellular telephones: Actual: 3,750…

A: Direct labor rate variance = Actual hours x (Actual rate - Standard rate) Direct labor time variance…

Q: John Richardson is the manufacturing production supervisor for Benson Tool Works, a company that…

A: A flexible budget is one which adjusts with changes in volume. Under flexible budget, variable cost…

Q: Commodore Company uses a standard cost system for its production process and applies overhead based…

A: Cost accounting is a mechanism adopted by entities to find out the true cost of a specific service,…

Q: king with variances From the following data, determine the total actual costs incurred for direct…

A: The variance is the difference between standard and actual cost of production for the current…

Q: Japan Company produces lamps that require 2 standard hours per unit at a standard hourly rate of…

A: Direct labor variance :— It is the difference between standard direct labor cost for actual…

Q: Parkdale Courier Service employs several delivery specialists. The following reports the information…

A: The term "variance" describes the discrepancy between an actual and an expected outcome. Variance…

Q: Direct Materials Variances 1.-Bellingham Company produces a product that requires 14 standard…

A: Standard cost means the cost which is to be incurred as per estimate already done. Actual cost means…

Q: Working With Variances From the following data, determine the total actual costs incurred for direct…

A: Variance analysis: It is the technique in budgeting that allows for analysis of the variances…

Q: he following data relate to labor cost for production of 5,900 cellular telephones: Actual: 3,980…

A: Rate variance is defined as the difference among the actual price paid and the expected price,…

Q: You are provided with the following information. Inputs Direct materials Direct labor Variable…

A: Variance analysis : Analysis of a differences between planned and actual behavior. After analyzing…

Q: rect Labor Variances ne following data relate to labor cost for production of 7,200 cellular…

A: Solution:- a)Calculation of the direct labor rate variance, direct labor time variance, and total…

Q: Bellingham Company produces a product that requires 10 standard direct labor hours per unit at a…

A: Direct labor rate variance = (Actual rate - Standard rate) x Actual hours Direct labor time variance…

Q: Actual price and variable costs Sales price Materials cost Labor cost Overhead cost Selling,…

A: Let's perform these calculations.  Please provide the actual activity level (e.g., number of units…

Q: Total Fixed Overhead Variance       (d) Total Manufacturing Overhead Variance     (a) Total Flexible…

A: The variances are the comparison of the standard performance set and actual performance acheived by…

Q: Japan Company produces lamps that require 2 standard hours per unit at a standard hourly rate of…

A: Labor cost variance :It is the difference between standard cost of labor allowed for actual output…

Q: Direct Labor Variances The following data relate to labor cost for production of 33,000 cellular…

A: Labor cost variance is calculated as the excess of total standard cost over actual cost.

Q: calculate the variances (f) Total Fixed Overhead Variance     (d) Total Manufacturing Overhead…

A: Budget refers to the statement made by the company based on the estimates to determine the revenue…

Q: The following data relate to the direct materials cost for the production of 2,500 automobile tires:…

A: The variance is the difference between the standard and actual cost data. The variance can be…

Q: Use the information provided to answer the questions. Actual Price Paid Per Pound of Material:…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Given the following information, calculate the purchasing d variance. Standard number of transaction…

A: Efficiency variance analysis gives managers insightful information about where to improve…

Q: Type of Variance Actual Standard Variance Materials price variance $24,600 $23,400 Materials usage…

A: Variance Amount = Actual Cost- Standard cost If the Actual cost is higher than the Standard cost…

Q: answer

A: To find the actual total direct materials cost for the current period, we need to account for the…

Q: The following information is available for Marigold's Hot Dogs: Actual production Budgeted…

A: Variable overhead variance is the difference between standard variable overhead cost for actual…

Q: Jones plc manufactures one product, and the entire product is sold as soon as it is produced. There…

A: Given for Variable Overheads, Standard Rate per unit= 0.60 Actual Rate per unit= 2,6004,850= 0.54…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.