The overhead volume variance of Modern Art, Inc. is $60,600 favorable. It indicates:Actual production exceeded the normal volume of output.Variable overhead per unit has exceeded the standard amount budgeted.Actual production was less than the normal volume of output.Total fixed overhead was less than the standard amount budgeted.

Overhead volume variance is a measure of the difference between the budgeted overhead based on the…

Answered: The overhead volume variance of Modern…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Shaw Company produced 730 units. Its overhead alocation base is DLH and its standard amount per allocation base is 8 DLH per unit its standard overhead rate is $10 per DLH. The flexible overhead budget at an activity level of 730 units shows $28,500 in varlable overhead costs and $32.500 in fixed overhead costs. Compute the volume variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance) Volume Varianee Butpeted eble overhead atuns produced Standard overhead appled Volume variance
Alvarado Company produced 6,200 units of product that required 2.5 standard direct labor hours per unit. The standard variable overhead cost per unit is $3.00 per direct labor hour. The actual variable factory overhead was $47,800. Determine the variable factory overhead controllable variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
s
Tucker Company produced 7,400 units of product that required 3.40 standard hours per unit. The standard variable overhead cost per unit is $5.00 per hour. The actual variable factory overhead was $123,280. Determine the variable factory overhead controllable variance. Enter a favorable variance as a negative number.
i need the answer quickly
Bellingham Company produced 4,200 units of product that required 2.5 standard direct labor hours per unit. The standard fixed overhead cost per unit is $2.45 per direct labor hour at 11,100 hours, which is 100% of normal capacity. Determine the fixed factory overhead volume variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
Please do not give solution in image format
What is the standard factory overhead rate?
3.- Factory Overhead Controllable Variance Bellingham Company produced 3,100 units of product that required 3.5 standard direct labor hours per unit. The standard variable overhead cost per unit is $6.60 per direct labor hour. The actual variable factory overhead was $70,180. Determine the variable factory overhead controllable variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. $ Fill in the blank (Favorable/ unfavorable)
am. 115.
Jeffries Company’s only variable-overhead cost is electricity. Does an unfavorable variable-overhead spending variance imply that the company paid more than the anticipated rate per kilowatt-hour?
Required information [The following information applies to the questions displayed below.] AirPro Corporation reports the following for this period. Actual total overhead Standard overhead applied Budgeted (flexible) variable overhead rate Budgeted fixed overhead Predicted activity level Actual activity level Answer is complete but not entirely correct. Standard overhead applied Budgeted (flexible) overhead Volume variance Volume Variance ✓ S $ Compute the volume variance and identify it as favorable or unfavorable. $ $ 28,525 $ 31,620 28,525 X 12,600 x (2,400) Unfavorable $ 2.10 per unit $ 12,600 12,600 units 10,200 units

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS