The (partial) cost sheet for the single product manufactured at Briarcliff Corporation follows: Direct labor (2 hours @ $30) $ 60 Variable overhead (2 hours @ $9) 18 Fixed overhead (2 hours @ $11) 22 The master budget level of production is 45,570 direct labor-hours, which is also the production volume used to compute the fixed overhead application rate. Other information available for operations over the past accounting period include the following: Actual variable overhead incurred $ 582,000 Actual fixed overhead incurred 480,100 Direct labor efficiency variance 80,100 F Variable overhead price variance 142,800 U Required:a. What was the variable overhead efficiency variance?b. What was the fixed overhead price variance?c. What was the fixed overhead production volume variance?
The (partial) cost sheet for the single product manufactured at Briarcliff Corporation follows: Direct labor (2 hours @ $30) $ 60 Variable overhead (2 hours @ $9) 18 Fixed overhead (2 hours @ $11) 22 The master budget level of production is 45,570 direct labor-hours, which is also the production volume used to compute the fixed overhead application rate. Other information available for operations over the past accounting period include the following: Actual variable overhead incurred $ 582,000 Actual fixed overhead incurred 480,100 Direct labor efficiency variance 80,100 F Variable overhead price variance 142,800 U Required:a. What was the variable overhead efficiency variance?b. What was the fixed overhead price variance?c. What was the fixed overhead production volume variance?
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
The (partial) cost sheet for the single product manufactured at Briarcliff Corporation follows:
| Direct labor | (2 hours @ $30) | $ 60 |
|---|---|---|
| Variable overhead | (2 hours @ $9) | 18 |
| Fixed overhead | (2 hours @ $11) | 22 |
The master budget level of production is 45,570 direct labor-hours, which is also the production volume used to compute the fixed overhead application rate. Other information available for operations over the past accounting period include the following:
| Actual variable overhead incurred | $ 582,000 |
|---|---|
| Actual fixed overhead incurred | 480,100 |
| Direct labor efficiency variance | 80,100 F |
| Variable overhead price variance | 142,800 U |
Required:
a. What was the variable overhead efficiency variance?
b. What was the fixed overhead price variance?
c. What was the fixed overhead production volume variance?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
