The standard costs and actual costs for factory overhead for the manufacture of 3,000 units of actual production are as follows: Standard Costs Fixed overhead (based on 10,000 hours) Variable overhead 3 hours per unit @ $0.78 per hour 3 hours per unit @ $2.00 per hour Actual Costs Total variable cost, $18,000 Total fixed cost, $7,900 The amount of the fixed factory overhead volume variance is O a. $0 O b. $624 favorable O c. $780 unfavorable O d. $624 unfavorable

The standard costs and actual costs for factory overhead for the manufacture of 3,000 units of actual production are as follows: Standard Costs Fixed overhead (based on 10,000 hours) Variable overhead 3 hours per unit @ $0.78 per hour 3 hours per unit @ $2.00 per hour Actual Costs Total variable cost, $18,000 Total fixed cost, $7,900 The amount of the fixed factory overhead volume variance is O a. $0 O b. $624 favorable O c. $780 unfavorable O d. $624 unfavorable

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Description: The standard costs and actual costs for factory overhead for the manufacture of 3,000 units of actual production are as follows:Standard CostsFixed overhead (based on 10,000 hours)Variable overhead3 hours per unit @ $0.78 per hour3 hours per unit @

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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The Russell Company provides the following standard cost data per unit of product: Direct material (2 gallons @ $3 per gallon) Direct labor (1 hours @ $13 per hour) During the period, the company produced and sold 26,000 units, incurring the following costs: Direct material Direct labor 55,000 gallons @ $ 2.9 per gallon 26,500 hours @ $12.75 per hour $ 6 $13 The direct material price variance was:
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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 $1.90 per hour Fixed overhead (based on 10,000 hours) Variable overhead Actual Costs Total variable cost, $17,800 Total fixed cost, $7,900 The fixed factory overhead volume variance is Oa. So Ob. $1,420 unfavorable Oc. $1,775 unfavorable Od. $1,420 favorable
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