Can you please give answer this accounting question The standard costs and actual costs for factory overhead for themanufacture of 2,700 units of actual production are as follows:Standard CostsFixed overhead (based on 10,000 3 hours per unit at $0.77 perhours)Variable overheadhour3 hours per unit at $1.92 perhourActual CostsTotal variable costTotal fixed cost$18,000$8,100The variable factory overhead controllable variance is:a. $0b.$2,448 favorablec.$2,448 unfavorabled.$1,958 favorable

Step 1: Define Factory OverheadsFactory overheads are incurred during normal factory operation, and…

Answered: The standard costs and actual costs for…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 12PA: ABC Inc. spent a total of $48,000 on factory overhead. Of this, $28,000 was fixed overhead. ABC Inc....

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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?
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.
Mulliner Company showed the following information for the year: Required: 1. Calculate the standard direct labor hours for actual production. 2. Calculate the applied variable overhead. 3. Calculate the total variable overhead variance.
Rath Company showed the following information for the year: Required: 1. Calculate the standard direct labor hours for actual production. 2. Calculate the applied variable overhead. 3. Calculate the total variable overhead variance.
Direct materials, direct labor, and factory overhead cost variance analysis Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 40,000 units of product were as follows: Each unit requires 0.3 hour of direct labor. Instructions Determine (A) the direct materials price variance, direct materials quantity variance, and total direct materials cost variance; (B) the direct labor rate variance, direct labor time variance, and total direct labor cost variance; and (C) the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance.
Georgia Gasket Co. budgets 8,000 direct labor hours for the year. The total overhead budget is expected to amount to 20,000. The standard cost for a unit of the companys product estimates the variable overhead as follows: The actual data for the period follow: Using the four-variance method, calculate the overhead variances. (Hint: First compute the budgeted fixed overhead rate.)
The standard costs and actual costs for factory overhead for the manufacture of 2,900units of actual production are as follows: Standard Costs Line Item Description Value Fixed overhead (based on 10,000 hours) 3 hours per unit at $0.71 per hour Variable overhead 3 hours per unit at $1.96 per hour Actual CostsTotal variable cost, $18,100Total fixed cost, $8,200 The fixed factory overhead volume variance is a. $738 favorable b. $0 c. $738 unfavorable d. $923 unfavorable
A company reports the following Information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced AH = Actual Hours SH - Standard Hours AR = Actual Rate SR Standard Rate = 59,000 $ 16 $ 14 60,100 Compute the direct labor rate and efficiency variances and Identify each as favorable or unfavorable. Actual Cost Standard Cost
The standard costs and actual costs for factory overhead for the manufacture of 2,700units of actual production are as follows: Standard Costs Line Item Description Value Fixed overhead (based on 10,000 hours) 3 hours per unit at $0.73 per hour Variable overhead 3 hours per unit at $1.92 per hour Actual CostsTotal variable cost, $18,000Total fixed cost, $8,000 The total factory overhead cost variance is a. $3,835 unfavorable b. $3,835 favorable c. $5,222 favorable d. $2,448 unfavorable
The standard costs and actual costs for factory overhead for the manufacture of 2,800 units of actual production are as follows: Standard Costs Fixed overhead (based on 10,000 hours) 3 hours per unit @ $0.78 per hour Variable overhead 3 hours per unit @ $1.91 per hour Actual Costs Total variable cost, $17,800 Total fixed cost, $8,100 The variable factory overhead controllable variance is a.$1,756 favorable b.$1,756 unfavorable c.$1,405 favorable d.$0
The standard costs and actual costs for direct labor for the manufacture of 2,500 actual units of product are as follows: Standard Costs Direct labor 7,500 hours @ $11.80 Actual Costs Direct labor 7,400 hours @ $11.40 The direct labor rate variance is a.$4,500 unfavorable b.$2,960 favorable c.$2,960 unfavorable d.$4,500 favorable
The standard costs and actual costs for factory overhead for the manufacture of 2,600 units of actual production are as follows: Standard Costs Fixed overhead (based on 10,000 hours) 3 hours per unit at $0.73 per hour Variable overhead 3 hours per unit at $1.95 per hour Actual Costs Total variable cost, $17,800 Total fixed cost, $8,200 The variable factory overhead controllable variance is a. $0 Ob. $2,590 favorable Oc. $2,072 favorable Od. $2,590 unfavorable

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