The standard costs and actual costs for factory overhead for the manufacture of 2,900 units of actual production are asfollows:Standard CostsFixed overhead (based on 10,000 hours)3 hours per unit at $0.76 per hourVariable overhead3 hours per unit at $1.97 per hourActual CostsTotal variable cost, $18,000Total fixed cost, $8,000The total factory overhead cost variance isa. $1,849 unfavorableOb. $2,837 favorableOc. $861 unfavorableOd. $1,849 favorable

Factory Overhead is the indirect cost consisting of indirect material, indirect labor, heating,…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Franklin Company established a predetermined fixed overhead cost rate of $36 per unit of product. The company planned to make 7,700 units of product but actually produced only 7,400 units. Actual fixed overhead costs were $286,100. Required a. Determine the fixed cost spending variance and indicate whether it is favorable (F) or unfavorable (U).
SouthHaven Corporation applies overhead based on direct labor hours. According to standard cost card, the variable overhead standard is 11.5 hours at $20.5 per hour. During July, SouthHaven produced 4,600 units using 52,380 labor hours and spent $1,091,700 for variable overhead. What is the variable overhead efficiency variance? Multiple Choice $17,910 unfavorable $979,490 favorable $17,910 favorable $10,660 favorable
The standard costs and actual costs for factory overhead for the manufacture of 2,800 units of actual production are as follows: Line Item DescriptionValueFixed overhead (based on 10,000 hours)3 hours per unit at $0.71 per hourVariable overhead3 hours per unit at $1.98 per hour Actual Costs Total variable cost, $18,200 Total fixed cost, $8,200 The fixed factory overhead volume variance is Group of answer choices $1,136 unfavorable $909 unfavorable $909 favorable $0
The standard costs and actual costs for factory overhead for the manufacture of 2,500 units of actual production are as follows: Standard Costs 3 hours per unit at $0.71 per hour 3 hours per unit at $1.92 per hour Fixed overhead (based on 10,000 hours) Variable overhead Actual Costs Total variable cost, $18,200 Total fixed cost, $8,100 The variable factory overhead controllable variance is Oa. $3,800 unfavorable Ob. $3,800 favorable Oc. $3,040 favorable Od. So
The following data relate to direct labor costs for the current month : Standard Costs : 6,000 hours @ $ 12.00 per hour Actual Costs : 7,500 hours @ $ 11.60 per hour What is the direct labor rate variance ? $ 2,400 favorable $ 5,800 unfavorable $ 3,000 unfavorable None of the listed choices are correct $ 6,000 favorable
Feagin Company’s actual variable overhead was $73,000. Actual direct labor hours were 25,000 to make 20,000 finished products. The per-unit standard for direct labor hour is 1.5 hours, and the pre-determined variable overhead rate is $3 per direct labor hour. What were (1) the variable overhead spending variance (2) the variable overhead efficiency variance?
The standard factory overhead rate is $7.50 per machine hour ($6.20 for variable factory overhead and $1.30 for fixed factory overhead) based on 100% of normal capacity of 80,000 machine hours. The standard cost and the actual cost of factory overhead for the production of 15,000 units during August were as follows: Actual: Variable factory overhead Fixed factory overhead Standard hours allowed for units produced: The variable factory overhead controllable variance is a. $12,000 unfavorable b. $14,000 unfavorable c. $12,000 favorable d. $26,000 unfavorable $360,000 104,000 60,000 hours
This Company uses standard costing. Variable overhead is applied at $8 per direct labor hour. Data for the month of September follows: Actual overhead variable costs $78,000 Standard hours allowed for actual production 10,000 Actual labor hours worked 9,800 How much is the controllable overhead spending variance? a. $2,000 favorable b. $400 favorable c. $400 unfavorable d. $2,000 unfavorable
The standard number of hours that should have been worked for the output attained is 6000 direct labor hours and the actual number of direct labor hours worked was 6300. If the direct labor price variance was $3150 unfavorable and the standard rate of pay was $8.0 per direct labor hour, what was the actual rate of pay for direct labor? $7.50 per direct labor hour $6.50 per direct labor hour $8.50 per direct labor hour O $8.00 per direct labor hour
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Factory overhead variance is over absorbed P9,000. The factory overhead rate of P10 per labor hour was arrived at by using an estimated capacity of 20,000 labor hours. The fixed overhead rate is P3 per labor hour. With utilized capacity equal to 18,900 labor hours, how much factory overhead must have been incurred?
Bonnie Company applies overhead based on machine hours. The variable overhead standard is 24 hours at $19.00 per hour. During March, Bonnie spent $314,150 for variable overhead, and 13,280 machine hours were used to produce 60 units. What is the variable overhead rate variance? Note: Do not round intermediate calculation. Multiple Choice O $15.600 unfavorable $61,830 unfavorable $12.800 unfavorable $61.830 favorable

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