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Description: If actual fixed overhead was P54,000 and there was a P1,300 unfavorable spending variance and a P1,200 unfavorable volume variance,budgeted fixed overhead must have been P

Business

Accounting

If actual fixed overhead was P54,000 and there was a P1,300 unfavorable spending variance and a P1,200 unfavorable volume variance, budgeted fixed overhead must have been P

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 19MC: The variable overhead rate variance is caused by the sum between which of the following? A. actual...

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E6. when the fixed overhead rate is based on budgeted production volume. total over- or underapplied fixed manufacturing overhead is the combination of the: a) fixed overhead spending variance and the fixed overhead volume variance b) the fixed overhead volune variance and the fixed overhead capacity variance c) fixed overhead spending variance and the fixed overhead capacity variance d) planned xpaacity variance and unplanned capacity variance
The variable overhead rate variance is caused by the sum between which of the following? A. actual and standard allocation base B. actual and standard overhead rates C. actual and budgeted units D. actual units and actual overhead rates
Which of the following statements about fixed overhead variances is FALSE? O The budget variance represents the difference between the original budgeted fixed overhead cost and the applied fixed overhead cost during a period. O An unfavorable volume variance means that a firm's production facilities were under-utilized by producing less units of products than budgeted. O The volume variance is a measure of facility utilization. O Fixed overhead variances consist of a budget variance and a volume variance. Ne: Previous
The fixed overhead spending variance can be calculated by taking: 1. The difference between the original budget and the actual results. 2. The difference between the flexed budget and the actual results. Which of the above statements are correct? A. Both 1 and 2 B. Neither 1 nor 2 C. 2 only O D. 1 only ...
Primara Corporation has a standard costing system in which it applies overhead to products on the basis of the standard direct labour- hours allowed for the actual output of the period. Data concerning the most recent year appear below: Total budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted standard direct labour-hours (denominator level of activity) Actual direct labour-hours Standard direct labour-hours allowed for the actual output $ 500,000 $ 508,000 50,000 54,000 52,000 Required: 1. Compute the fixed portion of the predetermined overhead rate for the year. Predetermined overhead rate per DLH
1. Acme had a P22,000 favorable fixed overhead budget variance, a P15,000 unfavorable variable overhead spending variance, and P2,000 total overapplied overhead. The volume variance was A. P13,000 overapplied C. P5,000 overapplied B. P13,000 underapplied D. P5,000 underapplied 2. Aldorp had a P10,000 unfavorable fixed overhead budget variance, a P6,000 unfavorable variable overhead spending variance, and a P2,000 favorable volume variance. The total overhead was A. P14,000 overapplied C. P18,000 overapplied B. P14,000 underapplied D. P18,000 underapplied
1. ABC had a P28,000 favorable volume variance, a P25,000 unfavorable variable overhead spending variance, and P12,000 total overapplied overhead. The fixed overhead budget variance was A. P9,000 favorable C. P9,000 unfavorable B. P26,000 favorable D. P26,000 unfavorable 2. Bacon had a P28,000 unfavorable volume variance, a P5,000 unfavorable fixed overhead budget variance, and P22,000 total underapplied overhead. The variable overhead spending variance was A. P11,000 favorable C. P11,000 unfavorable B. P1,000 favorable D. P23,000 unfavorable
The flexible budget variance for fixed overhead is known as the A.) Static budget variance. B.) Fixed overhead efficiency variance. C.) The fixed overhead volume variance. D.) The fixed overhead spending variance.
verify whether variances favorable of unfavorable: budgeted cost at actual volue would be 25344 (21.12*1200) and total variance to be explained is 2536 (unfavorable 27880-25344). what is the amount of variance that is attributed to the diffence between the budgeted and actual wage rate per hour. what is the amount of variance that is attributed to the change in labor productivity? what is the amount of variance that can be attributed tothe diffence between budgeted and actual volume budget actual wage rate per hour 16 17 fixed hours 320 320 variable hours per relative value unit (RVU) 1 1.1 Relative Value unite (RVUs) 1000 1200 total labor hours 1320 1640 labor cost 21120 27880 cost per RVU 21.12 23.23
Assume the labor rate varlance is $400 unfavorable and the labor spending variance is $200 unfavorable. Glven these assumptions, which of the following statements is true? Multiple Choice The labor efficiency variance must be $200 unfavorable. The labor efficiency varlance must be $600 unfavorable. The labor efficiency variance must be $600 favorable. The labor efficiency variance must be $200 favorable.
Which of the following statements about fixed overhead variances is FALSE? An unfavorable volume variance means that a firm’s production facilities were under-utilized by producing less units of products than budgeted. Fixed overhead variances consist of a budget variance and a volume variance. The volume variance is a measure of facility utilization. The budget variance represents the difference between the original budgeted fixed overhead cost and the applied fixed overhead cost during a period.
For each of the following independent cases, fill in the missing amounts in the table: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Direct Labor Rate Case Direct Labor Efficiency Direct Labor Spending Variance Variance Variance A $ 1,450 U $ 2,600 F B $ 1,300 F $ 2,100 U C $ 1,700 F $ 3,200 F D $ 1,200 U $ 3,900 U E $ 1,800 F $ 2,650 U F $ 1,350 U $ 1,850 U