ving Corporation makes a product with the following standards for direct labor and variable overhead Standard Price or Rate $17.00 per hour. $5.30 per hour Direct labor Variable overhead Multiple Choice m November the company's budgeted production was 5,600 units, but the actual production was 5,400 units. The company used 1,610 direct labor-hours to produce this output. The actual variable overhead cost was 57,889. The company applies variable overhead on the basis of direct labor-hours. The variable overhead rate variance for November is: O O O O $644 F $432 U $644 U Standard Quantity or Hours 0.20 hours 8.20 hours $432 F Standard Cost Per Unit $3.40 $1.06.
ving Corporation makes a product with the following standards for direct labor and variable overhead Standard Price or Rate $17.00 per hour. $5.30 per hour Direct labor Variable overhead Multiple Choice m November the company's budgeted production was 5,600 units, but the actual production was 5,400 units. The company used 1,610 direct labor-hours to produce this output. The actual variable overhead cost was 57,889. The company applies variable overhead on the basis of direct labor-hours. The variable overhead rate variance for November is: O O O O $644 F $432 U $644 U Standard Quantity or Hours 0.20 hours 8.20 hours $432 F Standard Cost Per Unit $3.40 $1.06.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
A9
![Irving Corporation makes a product with the following standards for direct labor and variable overhead:
Standard Price or Rate
$ 17.00 per hour
$5.30 per hour
Direct labor
Variable overhead
Multiple Choice
In November the company's budgeted production was 5,600 units, but the actual production was 5,400 units. The company used 1,610 direct labor-hours to produce this output. The actual variable overhead cost was
$7,889. The company applies variable overhead on the basis of direct labor-hours.
The variable overhead rate variance for November is
O
O
$644 F
$432 U
$644 U
Standard Quantity or Hours
0.20 hours.
0.20 hours
$432 F
Standard Cost Per Unit
$ 3.40
$1.06](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6a6f37ac-d520-4f69-b85c-82e96552a464%2F44d50327-eb8b-45b5-a1f8-82e126c5701d%2F39w76aa_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Irving Corporation makes a product with the following standards for direct labor and variable overhead:
Standard Price or Rate
$ 17.00 per hour
$5.30 per hour
Direct labor
Variable overhead
Multiple Choice
In November the company's budgeted production was 5,600 units, but the actual production was 5,400 units. The company used 1,610 direct labor-hours to produce this output. The actual variable overhead cost was
$7,889. The company applies variable overhead on the basis of direct labor-hours.
The variable overhead rate variance for November is
O
O
$644 F
$432 U
$644 U
Standard Quantity or Hours
0.20 hours.
0.20 hours
$432 F
Standard Cost Per Unit
$ 3.40
$1.06
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education