Variable Overhead variances: Direct labor variances refer to the difference between the standard direct labor cost and actual direct labor cost incurred. To calculate: Variable Overhead rate, efficiency, and spending variances.

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Chapter 9, Problem 5.3GAP

To determine

Concept introduction:

Variable Overhead variances:

Direct labor variances refer to the difference between the standard direct labor cost and actual direct labor cost incurred.

To calculate:

Variable Overhead rate, efficiency, and spending variances.

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Pickul Awning manufactures awnings and uses a standard cost system. The company allocates overhead based on the number of direct labor hours. The following are the company's cost and standards data: (Click the icon to view the standards.) Requirement 1. Calculate the standard cost of one awning. Standard cost Direct materials Direct labor Variable MOH Fixed MOH Total standard cost Standard cost per unit Requirement 2a. Calculate the direct material variances. (Enter the variances as positive numbers. Enter currency amounts to the nearest cent and your answers to the nearest whole dollar. Label the variance as fa First determine the formula for the price variance, then compute the price variance for direct materials. Determine the formula for the quantity variance, then compute the quantity variance for direct materials. = DM price variance ) = First determine the formula for the efficiency variance, then compute the efficiency variance for direct labor. x( x( x ( x( = DM quantity…

1. Using the four-variance approach, what is the volume variance? 2. Using the four-variance approach, what is the fixed overhead spending? 3. Using the four-variance approach, what is the variable overhead efficiency variance? 4. Using the four-variance approach, what is the variable overhead spending variance?

1) What is the labor efficiency variance for March? 2) What is the variable overhead rate for March? 3) What is the variable overhead efficiency variance for March?

Answer 2

Question

Chapter 9, Problem 5.3GAP

To determine

Concept introduction:

Variable Overhead variances:

Direct labor variances refer to the difference between the standard direct labor cost and actual direct labor cost incurred.

To calculate:

Variable Overhead rate, efficiency, and spending variances.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 9, Problem 5.3GAP

To determine

Concept introduction:

Variable Overhead variances:

Direct labor variances refer to the difference between the standard direct labor cost and actual direct labor cost incurred.

To calculate:

Variable Overhead rate, efficiency, and spending variances.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 9, Problem 5.3GAP

To determine

Concept introduction:

Variable Overhead variances:

Direct labor variances refer to the difference between the standard direct labor cost and actual direct labor cost incurred.

To calculate:

Variable Overhead rate, efficiency, and spending variances.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 9, Problem 5.3GAP

To determine

Concept introduction:

Variable Overhead variances:

Direct labor variances refer to the difference between the standard direct labor cost and actual direct labor cost incurred.

To calculate:

Variable Overhead rate, efficiency, and spending variances.

Answer 6

Chapter 9, Problem 5.3GAP

To determine

Concept introduction:

Variable Overhead variances:

Direct labor variances refer to the difference between the standard direct labor cost and actual direct labor cost incurred.

To calculate:

Variable Overhead rate, efficiency, and spending variances.

Answer 7

Chapter 9, Problem 5.3GAP

To determine

Concept introduction:

Variable Overhead variances:

Direct labor variances refer to the difference between the standard direct labor cost and actual direct labor cost incurred.

To calculate:

Variable Overhead rate, efficiency, and spending variances.

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...

Variable Overhead variances: Direct labor variances refer to the difference between the standard direct labor cost and actual direct labor cost incurred. To calculate: Variable Overhead rate, efficiency, and spending variances.

Solution Summary: The author explains that Variable Overhead variances refer to the difference between the standard direct labor cost and actual direct labour cost incurred.

Concept explainers

Videos

Concept introduction:

Variable Overhead variances:

Direct labor variances refer to the difference between the standard direct labor cost and actual direct labor cost incurred.

To calculate:

Variable Overhead rate, efficiency, and spending variances.

Want to see the full answer?

Chapter 9 Solutions

Variable Overhead variances: Direct labor variances refer to the difference between the standard direct labor cost and actual direct labor cost incurred. To calculate: Variable Overhead rate, efficiency, and spending variances.

Solution Summary: The author explains that Variable Overhead variances refer to the difference between the standard direct labor cost and actual direct labour cost incurred.

Concept explainers

Videos

Concept introduction: Variable Overhead variances: Direct labor variances refer to the difference between the standard direct labor cost and actual direct labor cost incurred. To calculate: Variable Overhead rate, efficiency, and spending variances.

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Chapter 9 Solutions

Concept introduction:

Variable Overhead variances:

Direct labor variances refer to the difference between the standard direct labor cost and actual direct labor cost incurred.

To calculate:

Variable Overhead rate, efficiency, and spending variances.