Venneman Company produced 14,000 units of product that required 4 standard hours per unit. The standard variable overhead cost per unit is $0.80 per hour. The actual variable factory overhead was $46,100. Determine the variable factory overhead controllable variance.
Venneman Company produced 14,000 units of product that required 4 standard hours per unit. The standard variable overhead cost per unit is $0.80 per hour. The actual variable factory overhead was $46,100. Determine the variable factory overhead controllable variance.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Venneman Company produced 14,000 units of product that required 4 standard hours per unit. The standard variable
$fill in the blank 1
Expert Solution
Step 1
Variable factory overhead controllable variance
Standard variable overhead - Actual variable overhead
= (14,000 units 4 hours $0.80 ) - $46,100
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education