Variable overhead rate variances: It is the difference between standard variable overhead rate and actual variable overhead rate and then multiplying it with actual hours. Variable overhead efficiency variances: It is the difference between standard and actual hours, then multiplying with standard rate. Variable overhead spending variances: It is the combined value of the variable overhead rate variance and variable overhead efficiency variance. Actual variable overhead: It is calculated by multiplying actual hour with actual rate. Applied variable overhead: It is calculated by multiplying standard hour with standard rate. To compute: The SC’s variable overhead rate and efficiency variances and its over or under applied variable overhead.

Question

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Answer 1

Question

Chapter 9, Problem 15E

To determine

Concept introduction:

Variable overhead rate variances:

It is the difference between standard variable overhead rate and actual variable overhead rate and then multiplying it with actual hours.

Variable overhead efficiency variances:

It is the difference between standard and actual hours, then multiplying with standard rate.

Variable overhead spending variances:

It is the combined value of the variable overhead rate variance and variable overhead efficiency variance.

Actual variable overhead:

It is calculated by multiplying actual hour with actual rate.

Applied variable overhead:

It is calculated by multiplying standard hour with standard rate.

To compute:

The SC’s variable overhead rate and efficiency variances and its over or under applied variable overhead.

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Answer 2

Question

Chapter 9, Problem 15E

To determine

Concept introduction:

Variable overhead rate variances:

It is the difference between standard variable overhead rate and actual variable overhead rate and then multiplying it with actual hours.

Variable overhead efficiency variances:

It is the difference between standard and actual hours, then multiplying with standard rate.

Variable overhead spending variances:

It is the combined value of the variable overhead rate variance and variable overhead efficiency variance.

Actual variable overhead:

It is calculated by multiplying actual hour with actual rate.

Applied variable overhead:

It is calculated by multiplying standard hour with standard rate.

To compute:

The SC’s variable overhead rate and efficiency variances and its over or under applied variable overhead.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 9, Problem 15E

To determine

Concept introduction:

Variable overhead rate variances:

It is the difference between standard variable overhead rate and actual variable overhead rate and then multiplying it with actual hours.

Variable overhead efficiency variances:

It is the difference between standard and actual hours, then multiplying with standard rate.

Variable overhead spending variances:

It is the combined value of the variable overhead rate variance and variable overhead efficiency variance.

Actual variable overhead:

It is calculated by multiplying actual hour with actual rate.

Applied variable overhead:

It is calculated by multiplying standard hour with standard rate.

To compute:

The SC’s variable overhead rate and efficiency variances and its over or under applied variable overhead.

Expert Solution & Answer

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Answer 4

Question

Chapter 9, Problem 15E

To determine

Concept introduction:

Variable overhead rate variances:

It is the difference between standard variable overhead rate and actual variable overhead rate and then multiplying it with actual hours.

Variable overhead efficiency variances:

It is the difference between standard and actual hours, then multiplying with standard rate.

Variable overhead spending variances:

It is the combined value of the variable overhead rate variance and variable overhead efficiency variance.

Actual variable overhead:

It is calculated by multiplying actual hour with actual rate.

Applied variable overhead:

It is calculated by multiplying standard hour with standard rate.

To compute:

The SC’s variable overhead rate and efficiency variances and its over or under applied variable overhead.

Expert Solution & Answer

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Answer 5

Chapter 9, Problem 15E

To determine

Concept introduction:

Variable overhead rate variances:

It is the difference between standard variable overhead rate and actual variable overhead rate and then multiplying it with actual hours.

Variable overhead efficiency variances:

It is the difference between standard and actual hours, then multiplying with standard rate.

Variable overhead spending variances:

It is the combined value of the variable overhead rate variance and variable overhead efficiency variance.

Actual variable overhead:

It is calculated by multiplying actual hour with actual rate.

Applied variable overhead:

It is calculated by multiplying standard hour with standard rate.

To compute:

The SC’s variable overhead rate and efficiency variances and its over or under applied variable overhead.

Answer 6

Chapter 9, Problem 15E

To determine

Concept introduction:

Variable overhead rate variances:

It is the difference between standard variable overhead rate and actual variable overhead rate and then multiplying it with actual hours.

Variable overhead efficiency variances:

It is the difference between standard and actual hours, then multiplying with standard rate.

Variable overhead spending variances:

It is the combined value of the variable overhead rate variance and variable overhead efficiency variance.

Actual variable overhead:

It is calculated by multiplying actual hour with actual rate.

Applied variable overhead:

It is calculated by multiplying standard hour with standard rate.

To compute:

The SC’s variable overhead rate and efficiency variances and its over or under applied variable overhead.

Answer 7

Chapter 9, Problem 15E

To determine

Concept introduction:

Variable overhead rate variances:

It is the difference between standard variable overhead rate and actual variable overhead rate and then multiplying it with actual hours.

Variable overhead efficiency variances:

It is the difference between standard and actual hours, then multiplying with standard rate.

Variable overhead spending variances:

It is the combined value of the variable overhead rate variance and variable overhead efficiency variance.

Actual variable overhead:

It is calculated by multiplying actual hour with actual rate.

Applied variable overhead:

It is calculated by multiplying standard hour with standard rate.

To compute:

The SC’s variable overhead rate and efficiency variances and its over or under applied variable overhead.

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

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Answer 11

Ch. 9 - Briefly describe the difference between budgetary...Ch. 9 - What are standard costs? When are they set?Ch. 9 - Prob. 3Q Ch. 9 - Prob. 4Q Ch. 9 - Prob. 5Q Ch. 9 - Prob. 6Q Ch. 9 - Prob. 7Q Ch. 9 - Prob. 8Q Ch. 9 - Prob. 9Q Ch. 9 - How do the master budget, flexible budget, and...

Solution Summary: The author explains the difference between standard and actual variable overhead rates, and their over or under applied variables.

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