EBK HORNGREN'S COST ACCOUNTING
16th Edition
ISBN: 9780134475950
Author: Datar
Publisher: PEARSON CO
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Chapter 8, Problem 8.26E
4-
| Variable | Fixed | |
| Actual costs incurred | $35,000 | $16,500 |
| Costs allocated to products | 36,000 | 15,200 |
| Flexible budget | ——— | 16,000 |
| Actual input × budgeted rate | 31,500 | ——— |
Fill in the blanks. Use F for favorable and U for unfavorable:
| Variable | Fixed | |
| (1) Spending variance | $_____ | $_____ |
| (2) Efficiency variance | _____ | _____ |
| (3) Production-volume variance | _____ | _____ |
| (4) Flexible- |
_____ | _____ |
| (5) Underallocated (overallocated) manufacturing overhead | _____ |
_____ |
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Students have asked these similar questions
4-variance analysis, ll in the blanks. ProChem, Inc., produces chemicals for large biotech companies. It has the following data for manufacturing overhead costs during August 2017:
Question 2 : a company produces chemicals for large biotech companies. It has the following data fo
manufacturing overhead costs during August 2017
Variable
$35,000
Fixed
$16,500
Actual costs incurred
Costs allocated to products
Flexible budget
Actual input x budgeted rate
36,000
15,200
16,000
31,500
Fill in the blanks. Use F for favorable and U for unfavorable:
Variable
Fixed
(1) Spending variance
(2) Efficiency variance
(3) Production-volume variance
(4) Flexible-budget variance
(5) Underallocated (overallocated) manufacturing overhead
Nivola, Inc., produces chemicals for large biotech companies. It has the following data for
manufacturing overhead costs during August 2017:
Variable
Fixed
Actual costs incurred
$31,500
$ 13,500
Costs allocated to products
35,000
15,400
Flexible budget
14,400
Actual input x budgeted rate
30,800
Requirement Fill in the blanks. Use F for favorable and U for unfavorable.
Sr. No. Title
1 Spending variance
2 Efficiency variance
3 Production-volume variance
4 Flexible-budget variance
5 Underallocated (overallocated) manufacturing
Variabl Fixed
The budgeted contribution for R Limited for the last month was
Rs.32,000. The following variances were reported.|
Variance
Sales volume contribution
Material price
Material usage
Labor efficiency
Variable overhead efficiency
Rs.
800 adverse
880 adverse
822 favorable
129 favorable
89 favorable
No other variances were reported for the month.
The actual contribution earned by R Limited for the last month is
Rs.
Chapter 8 Solutions
EBK HORNGREN'S COST ACCOUNTING
Ch. 8 - How do managers plan for variable overhead costs?Ch. 8 - How does the planning of fixed overhead costs...Ch. 8 - How does standard costing differ from actual...Ch. 8 - What are the steps in developing a budgeted...Ch. 8 - What are the factors that affect the spending...Ch. 8 - Assume variable manufacturing overhead is...Ch. 8 - Describe the difference between a direct materials...Ch. 8 - What are the steps in developing a budgeted fixed...Ch. 8 - Why is the flexible-budget variance the same...Ch. 8 - Explain how the analysis of fixed manufacturing...
Ch. 8 - Provide one caveat that will affect whether a...Ch. 8 - The production-volume variance should always be...Ch. 8 - What are the variances in a 4-variance analysis?Ch. 8 - Overhead variances should be viewed as...Ch. 8 - Describe how flexible-budget variance analysis can...Ch. 8 - Each of the following statements is correct...Ch. 8 - Steed Co. budgets production of 150,000 units in...Ch. 8 - As part of her annual review of her companys...Ch. 8 - Culpepper Corporation had the following...Ch. 8 - Fordham Corporation produces a single product. The...Ch. 8 - Variable manufacturing overhead, variance...Ch. 8 - Fixed manufacturing overhead, variance analysis...Ch. 8 - Variable manufacturing overhead variance analysis....Ch. 8 - Fixed manufacturing overhead variance analysis...Ch. 8 - Manufacturing overhead, variance analysis. The...Ch. 8 - 4-variance analysis, fill in the blanks. ProChem...Ch. 8 - Straightforward 4-variance overhead analysis. The...Ch. 8 - Straightforward coverage of manufacturing...Ch. 8 - Overhead variances, service sector. Meals Made...Ch. 8 - Total overhead, 3-variance analysis. Pampered...Ch. 8 - Production-volume variance analysis and...Ch. 8 - Overhead variances, service setting. Carlyle...Ch. 8 - Identifying favorable and unfavorable variances....Ch. 8 - Flexible-budget variances, review of Chapters 7...Ch. 8 - Comprehensive variance analysis. Cooking Whiz...Ch. 8 - Journal entries (continuation of 8-35). A. Prepare...Ch. 8 - Graphs and overhead variances. Best Around, Inc.,...Ch. 8 - Overhead variance, missing information. Consider...Ch. 8 - Flexible budgets, 4-variance analysis. (CMA,...Ch. 8 - Activity-based costing, batch-level variance...Ch. 8 - Overhead variances and sales-volume variance. The...Ch. 8 - Activity-based costing, batch-level variance...Ch. 8 - Comprehensive review of Chapters 7 and 8, working...Ch. 8 - Review of Chapters 7 and 8, 3-variance analysis....Ch. 8 - Nonfinancial variances. Kathys Kettle Potato Chips...Ch. 8 - Overhead variances, service sector. Cavio is a...Ch. 8 - Direct-cost and overhead variances, income...Ch. 8 - Overhead variances, ethics. Carpenter Company uses...
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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.Similar questions
- need correct answerarrow_forwardQ.What are the actual and budgeted selling prices? What are the actual and budgeted variable costs per unit?arrow_forwardHamilton, Inc. produces chemicals for large biotech companies. If has the following data for manufacturing overhead costs during August 2017. Variable FixedActual costs incurred $30,500 $14,500Costs allocated to products 27,000 14,800Flexible budget -- 16,000Actual input x budgeted rate 31,200 --- ( If no variance exists leave the dollar value blank. Label the variances as a favorable (F), unfavorable (U) or never a variance (N) ) Fill in the blanks. Variable Fixed1. Spending variance $ $2. Efficiency variance 3. Production- volume variance4. Flexible- budget variance5. Underallocated (over allocated) manufacturing overhead Solve all otherwise leavearrow_forward
- Overhead variance, missing information. Consider the following two situations—cases A and B— independently. Data refer to operations for April 2017. For each situation, assume standard costing. Also assume the use of a flexible budget for control of variable and fixed manufacturing overhead based on machine-hours.arrow_forwardsolve this question pleasearrow_forwardDetails are below find out answer in all questionarrow_forward
- Rozema Inc. produces chemicals for large biotech companies. It has the following data for manufacturing overhead costs during August: Actual costs incurred Costs allocated to products Flexible budget: Budgeted input allowed for actual output produced x budgeted rate Actual input x budgeted rate Required Complete the table below. 1. Rate variance 2. Efficiency variance 3. Production-volume variance Variable Fixed $34,500 $13,500 $30,000 $14,800 $30,000 $16,000 $31,600 $16,000 *** 4. Flexible-budget variance 5. Underallocated (overallocated) manufacturing overhead Variable Fixedarrow_forward3. Fixed manufacturing overhead variance analysis (Continuation of #2 above) The Sourdough Bread Company bakes baquettes for distribution to upscale grocery stores. The company has two direct-cost categories: direct materials and direct manufacturing labor. Variable manufacturing overhead is allocated to products on the basis of standard direct manufacturing labor-hours. Following is some budget data for the Sourdough Bread Company: Direct manufacturing labor use Variable manufacturing overhead $10.00 per direct manufacturing labor-hour 0.02 hours per baguette The Sourdough Bread Company also allocates fixed manufacturing overhead to products on the basis of standard direct manufacturing labor-hours. For 2021, fixed manufacturing overhead was budgeted at $3.00 per direct manufacturing labor-hour. Actual fixed manufacturing overhead incurred during the year was $284,000. The Sourdough Bread Company provides the following additional data for the December 31, 2021: year ended Planned…arrow_forwardOverhead variance, missing information. Consider the following two situations—cases A and B— independently. Data refer to operations for April 2017. For each situation, assume standard costing. Also assume the use of a exible budget for control of variable and xed manufacturing overhead based on machine-hours.arrow_forward
- Management should focus its sales and production efforts on the product or products that will provide a. the lowest product costs b. the lowest direct labor hours c. the highest sales revenue d. the maximum contribution margin The following data relate to direct labor costs for the current period: Standard costs 7,500 hours at $11.70 Actual costs 6,000 hours at $12.00 What is the direct labor time variance? a. $18,000 favorable b. $17,550 unfavorable c. $17,550 favorable d. $18,000 unfavorable Which of the following is not a factory overhead allocation method? a. factory costing b. multiple departmental rates c. activity-based costing d. single plantwide ratearrow_forward.arrow_forwardRequirements: Compute 4.Direct-labor quantity (efficiency) variance 5.Variable manufacturing overhead rate variance, 6.Variable manufacturing overhead efficiency variance.arrow_forward
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