Please do not give solution in image format thanku Factory Overhead Variance CorrectionsThe data related to shunda Enterprises Inc.'s factory overhead cost for the production of 60,000 units of product are as follows:Variable factory overhead$369,400263,700Fixed factory overheadStandard: 91,000 hrs. at $7.00 ($4.10 for variable factory overhead)637,000Actual:Productive capacity at 100% of normal was 90,000 hours, and the factory overhead cost budgeted at the level of 91,000 standard hours was $633,200. Based on these data, the chief cost accountant prepared thefollowing variance analysis:Variable factory overhead controllable variance:Actual variable factory overhead cost incurredBudgeted variable factory overhead for 91,000 hoursVariance-favorableFixed factory overhead volume variance:Normal productive capacity at 100%Standard for amount producedProductive capacity not usedStandard variable factory overhead rateVariance-unfavorableTotal factory overhead cost variance-unfavorable$369,400373,10090,000 hrs.91,0001,000 hrs.x $7.00$(3,700)7,000$3,300 VarianceVariable Factory Overhead Controllable VarianceFixed Factory Overhead Volume VarianceTotal Factory Overhead Cost VarianceAmountFavorable/Unfavorable

Name: Please do not give solution in image format thanku Factory Overhead Va
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Description: Please do not give solution in image format thanku Factory Overhead Variance CorrectionsThe data related to shunda Enterprises Inc.'s factory overhead cost for the production of 60,000 units of product are as follows:Variable factory overhead$369,400

Total Factory Overhead Cost Variance is a comparative tool for actual costs versus standard costs…

Answered: Variance Variable Factory Overhead…

Business

Accounting

Variance Variable Factory Overhead Controllable Variance Fixed Factory Overhead Volume Variance Total Factory Overhead Cost Variance Amount Favorable/Unfavorable

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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