The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level. To evaluate: The cost control report for the company.

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Answer 1

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Chapter 9, Problem 23P

1.

To determine

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level.

To evaluate: The cost control report for the company.

2.

To determine

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level.

To prepare: The performance report.

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Optical Company estimates its manufacturing overhead to be $540,000 and its direct labor costs to be $450,000 for year 2. Optical worked three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $150,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $275,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $100,000. The actual manufacturing overhead for year 2 was $600,000. Manufacturing overhead is applied on the basis of direct labor costs. a) How much overhead was applied to each job in year 2? b) What was the over-or underapplied manufacturing overhead for year 2?

Please provide the accurate answer to this financial accounting problem using valid techniques.

Answer 2

Question

Chapter 9, Problem 23P

1.

To determine

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level.

To evaluate: The cost control report for the company.

2.

To determine

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level.

To prepare: The performance report.

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Answer 3

Question

Chapter 9, Problem 23P

1.

To determine

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level.

To evaluate: The cost control report for the company.

2.

To determine

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level.

To prepare: The performance report.

Expert Solution & Answer

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Answer 4

Question

Chapter 9, Problem 23P

1.

To determine

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level.

To evaluate: The cost control report for the company.

2.

To determine

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level.

To prepare: The performance report.

Expert Solution & Answer

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Answer 5

Chapter 9, Problem 23P

1.

To determine

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level.

To evaluate: The cost control report for the company.

2.

To determine

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level.

To prepare: The performance report.

Answer 6

Chapter 9, Problem 23P

1.

To determine

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level.

To evaluate: The cost control report for the company.

Answer 7

Chapter 9, Problem 23P

1.

To determine

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level.

To evaluate: The cost control report for the company.

Answer 8

2.

To determine

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level.

To prepare: The performance report.

Answer 9

2.

To determine

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level.

To prepare: The performance report.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 9 - Prob. 1Q Ch. 9 - What is a flexible budget and how does it differ...Ch. 9 - Prob. 3Q Ch. 9 - Why is it difficult to interpret a difference...Ch. 9 - What is an activity variance and what does it...Ch. 9 - Prob. 6Q Ch. 9 - Prob. 7Q Ch. 9 - Prob. 8Q Ch. 9 - Prob. 9Q Ch. 9 - Prob. 10Q

The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level. To evaluate: The cost control report for the company.

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level. To evaluate: The cost control report for the company.

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level. To prepare: The performance report.

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Chapter 9 Solutions

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level.

To evaluate: The cost control report for the company.

Introduction: The difference between the planning budget and the flexible budget is known as activity variance. It arises due to the difference between the planned activity level and the actual activity level.

To prepare: The performance report.