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Variable Overhead Spending and Efficiency Variances, Columnar and Formula Approaches Aretha Company provided the following information: Standard variable overhead rate (SVOR) per direct labor hour $4.70 Actual variable overhead costs $335,750 Actual direct labor hours worked (AH) 69,200 Actual production in units 14,000 Standard hours (SH) allowed for actual units produced 70,000 Required: 1. Using the columnar approach, calculate the variable overhead spending and efficiency variances. Enter amounts as positive numbers and select Favorable (F) or Unfavorable (U). (1) Actual VOH (2) AH x SVOR (3) SH x SVOR U Spending Efficiency 2. Using the formula approach, calculate the variable overhead spending variance. Enter amount as a positive number and select Favorable or Unfavorable. Unfavorable 3. Using the formula approach, calculate the variable overhead efficiency variance. Enter amount as a positive number and select Favorable or Unfavorable. Favorable 4. Calculate the total variable overhead variance. Enter amount as a positive number and select Favorable or Unfavorable. Unfavorable

Variable Overhead Spending and Efficiency Variances, Columnar and Formula Approaches Aretha Company provided the following information: Standard variable overhead rate (SVOR) per direct labor hour $4.70 Actual variable overhead costs $335,750 Actual direct labor hours worked (AH) 69,200 Actual production in units 14,000 Standard hours (SH) allowed for actual units produced 70,000 Required: 1. Using the columnar approach, calculate the variable overhead spending and efficiency variances. Enter amounts as positive numbers and select Favorable (F) or Unfavorable (U). (1) Actual VOH (2) AH x SVOR (3) SH x SVOR U Spending Efficiency 2. Using the formula approach, calculate the variable overhead spending variance. Enter amount as a positive number and select Favorable or Unfavorable. Unfavorable 3. Using the formula approach, calculate the variable overhead efficiency variance. Enter amount as a positive number and select Favorable or Unfavorable. Favorable 4. Calculate the total variable overhead variance. Enter amount as a positive number and select Favorable or Unfavorable. Unfavorable

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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Variable Overhead Spending and Efficiency Variances, Columnar and Formula Approaches Aretha Company provided the following information: Standard variable overhead rate (SVOR) per direct labor hour $4.70 Actual variable overhead costs $335,750 Actual direct labor hours worked (AH) 69,200 Actual production in units 14,000 Standard hours (SH) allowed for actual units produced 70,000 Required: 1. Using the columnar approach, calculate the variable overhead spending and efficiency variances. Enter amounts as positive numbers and select Favorable (F) or Unfavorable (U). (1) Actual VOH (2) AH x SVOR (3) SH x SVOR Spending Efficiency 2. Using the formula approach, calculate the variable overhead spending variance. Enter amount as a positive number and select Favorable or Unfavorable. Unfavorable 3. Using the formula approach, calculate the variable overhead efficiency variance. Enter amount as a positive number and select Favorable or Unfavorable. Favorable 4. Calculate the total variable overhead variance. Enter amount as a positive number and select Favorable or Unfavorable. Unfavorable
Transcribed Image Text:Variable Overhead Spending and Efficiency Variances, Columnar and Formula Approaches Aretha Company provided the following information: Standard variable overhead rate (SVOR) per direct labor hour $4.70 Actual variable overhead costs $335,750 Actual direct labor hours worked (AH) 69,200 Actual production in units 14,000 Standard hours (SH) allowed for actual units produced 70,000 Required: 1. Using the columnar approach, calculate the variable overhead spending and efficiency variances. Enter amounts as positive numbers and select Favorable (F) or Unfavorable (U). (1) Actual VOH (2) AH x SVOR (3) SH x SVOR Spending Efficiency 2. Using the formula approach, calculate the variable overhead spending variance. Enter amount as a positive number and select Favorable or Unfavorable. Unfavorable 3. Using the formula approach, calculate the variable overhead efficiency variance. Enter amount as a positive number and select Favorable or Unfavorable. Favorable 4. Calculate the total variable overhead variance. Enter amount as a positive number and select Favorable or Unfavorable. Unfavorable
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