You brought your work home one evening, and your nephew spilled his chocolate milk shake on the variance report you were preparing. Fortunately, knowing that overhead was applied based on machine hours, you were able to reconstruct the obliterated information from the remaining data. Fill in the missing numbers below. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).) Standard machine hours per unit of output 4 hours Standard variable-overhead rate per machine 8.00 hour Actual variable-overhead rate per machine hour Actual machine hours per unit of output Budgeted fixed overhead Actual fixed overhead Budgeted production in units $ 50,000 25,000 Actual production in units $ 72,000 Unfavorable $ 192,000 Favorable $ 15,000 Unfavorable Variable-overhead spending variance Variable-overhead efficiency variance Fixed-overhead budget variance Fixed-overhead volume variance Total actual overhead $ 713,000 Total budgeted overhead (flexible budget) Total budgeted overhead (static budget) Total applied overhead $ 816,000

You brought your work home one evening, and your nephew spilled his chocolate milk shake on the variance report you were preparing. Fortunately, knowing that overhead was applied based on machine hours, you were able to reconstruct the obliterated information from the remaining data. Fill in the missing numbers below. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).) Standard machine hours per unit of output 4 hours Standard variable-overhead rate per machine 8.00 hour Actual variable-overhead rate per machine hour Actual machine hours per unit of output Budgeted fixed overhead Actual fixed overhead Budgeted production in units $ 50,000 25,000 Actual production in units $ 72,000 Unfavorable $ 192,000 Favorable $ 15,000 Unfavorable Variable-overhead spending variance Variable-overhead efficiency variance Fixed-overhead budget variance Fixed-overhead volume variance Total actual overhead $ 713,000 Total budgeted overhead (flexible budget) Total budgeted overhead (static budget) Total applied overhead $ 816,000

Name: Exercise 11-30 Reconstruct Missing Information from Partial Data (LO
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Description: Exercise 11-30 Reconstruct Missing Information from Partial Data (LO 11-2, 11-5)You brought your work home one evening, and your nephew spilled his chocolate milk shake on the variance report you werepreparing. Fortunately, knowing that overhead was

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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