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tivity level (in units) riable costs: Indirect materials Power-variable portion xed costs: Actual Results 1,000 $8,850 $930 Static Budget 1,200 $10,000 $1,200

tivity level (in units) riable costs: Indirect materials Power-variable portion xed costs: Actual Results 1,000 $8,850 $930 Static Budget 1,200 $10,000 $1,200

FINANCIAL ACCOUNTING
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 following overhead data are for a department in Sun Company for month of May. Activity level (in units) Variable costs: Indirect materials Power-variable portion Fixed costs: Power-fixed portion Rent Supervisors salaries Actual Results 1,000 $8,850 $930 $2,100 $5,220 $12,800 A/ Static Budget 1,200 $10,000 $1,200 $2,800 $5,000 $12,000 Company wants to assess how well costs were controlled in this department in May. Compute overall flexible budget cost variance for month of May. Indicate if it is favorable (F) or unfavorable (U). Example of Answer: 4000U 4000F (No comma, space, decimal point, or $ sign)
Transcribed Image Text:The following overhead data are for a department in Sun Company for month of May. Activity level (in units) Variable costs: Indirect materials Power-variable portion Fixed costs: Power-fixed portion Rent Supervisors salaries Actual Results 1,000 $8,850 $930 $2,100 $5,220 $12,800 A/ Static Budget 1,200 $10,000 $1,200 $2,800 $5,000 $12,000 Company wants to assess how well costs were controlled in this department in May. Compute overall flexible budget cost variance for month of May. Indicate if it is favorable (F) or unfavorable (U). Example of Answer: 4000U 4000F (No comma, space, decimal point, or $ sign)
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