Trull Company uses a standard cost system. Variable overhead costs are allocated based on direct labor hours. Inthe first quarter, Trull had a favorable cost variance for variable overhead costs. Which of the following scenarios isa reasonable explanation for this variance?A. The actual number of direct labor hours was lower than the budgeted hours.B. The actual variable overhead costs were higher than the budgeted costs.OC. The actual variable overhead costs were lower than the budgeted costs.OD. The actual number of direct labor hours was higher than the budgeted hours.

Expenses like utilities, maintenance, and indirect labor are examples of variable overhead expenses…

Trull Company uses a standard cost system. Variable overhead costs are allocated based on direct labor hours. In the first quarter, Trull had a favorable cost variance for variable overhead costs. Which of the following scenarios is a reasonable explanation for this variance? www OA. The actual number of direct labor hours was lower than the budgeted hours. OB. The actual variable overhead costs were higher than the budgeted costs. OC. The actual variable overhead costs were lower than the budgeted costs. OD. The actual number of direct labor hours was higher than the budgeted hours.

Trull Company uses a standard cost system. Variable overhead costs are allocated based on direct labor hours. In the first quarter, Trull had a favorable cost variance for variable overhead costs. Which of the following scenarios is a reasonable explanation for this variance? www OA. The actual number of direct labor hours was lower than the budgeted hours. OB. The actual variable overhead costs were higher than the budgeted costs. OC. The actual variable overhead costs were lower than the budgeted costs. OD. The actual number of direct labor hours was higher than the budgeted hours.

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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Best, Inc. uses a standard cost system and provides the following information. (Click the icon to view the information.) variable overhead, $3,800; actual fixed overhead, $3, 500; actual direct labor hours, 1,400. Read the requirements. Data table Requirement 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and favorable (F) or unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standardco \table [[,, Formula,Variance], [VOH cost variance, = , 1 = , ], [VOH efficiency variance, =,1 =, 0
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3 What is the variable manufacturing overhead efficiency variance? Michelle Inc. uses a level 4 variance analysis of its manufacturing overhead costs and has the following results for April. A. Budgeted direct labour-hours per unit is used to allocate variable manufacturing overhead. Fixed overhead is allocated on a per unit basis. B. Budgeted amounts for April are: Direct labour-hours Variable labour-hour overhead rate Fixed manufacturing overhead Budgeted output (denominator level output) C. Actual amounts for April are: Variable manufacturing overhead Fixed manufacturing overhead Direct labour-hours Actual output A) $181,200 favourable B) $80,000 favourable C) $101,200 unfavourable. D) $84,000 unfavourable OE) $101,200 favourable 0.30/unit $20.00/DLH $630,000 30,000 units $340,000 $590,000 16,000 hours 40,000 units
Select all that were the source for the Indirect Costs favorable efficiency variance. a. Actual indirect costs per direct labor hour was less than budgeted indirect cost per direct labor hour. b. Actual indirect costs per direct labor hour was greater than budgeted indirect cost per direct labor hour. c. Actual number of jobs completed was less than budgeted number of jobs. d. Actual number of jobs completed was greater than budgeted number of jobs. e. Actual number of direct labor hours per job was less than budgeted direct labor hours per job. f. Actual number of direct labor hours per job was greater than budgeted direct labor hours par job. QUESTION 5 Select all that were the source for the Sales Activity favorable variance. a. Actual number of units completed was greater than budgeted number of units. b. Actual selling price per unit was less than budgeted. c. Actual number of units completed was less than budgeted number of units. d. Actual selling price per unit was greater than…