Mm. 140. (0)Your answer is correct.Using your corrected framework from part (a), determine the variable-MOH price and efficiency variances. Was variable-MOHunder-or overapplied this year? By how much?Variable-MOH price varianceVariable-MOH efficiency varianceVariable-MOHeTextbook and Media-(c)List of AccountsYour answer is partially correct.Fixed-MOH price varianceFixed-MOH volume varianceFixed-MOHeTextbook and MediaList of AccountsSave for Later75030075010503001050Using the same framework, determine the fixed-MOH price and volume variances. Was fixed-MOH under-or overapplied thisyear? By how much?UnfavorableUnfavorableUnder-appliedFavorableUnfavorableAOver-applied✔2✓Attempts: 1 of 3 usedAttempts: 1 of 3 usedAttempts: 2 of 3 used Submit Answer Brian was working away at his first attempt at variance analysis for his manufacturing company. He filled in variable-and fixed-MOcosts where he saw fit, before actually calculating the related price, efficiency, and volume variances. Since he was focusing on theoverhead costs specifically, he made note of the allocation base being used, machine hours. Here is his work so far:Variable-MOHFixed-MOH(b)Actual Variable-MOH Cost$16,700Fixed-MOHMaster Budget$27,250Variable-MOHFlexible Budget$15,650Applied Fixed-MOH Cost$26.750Applied Variable-MOH Cost$15,650Actual Fixed-MOH Cost$24,300Brian isn't sure if he put the right costs in the right places. There were also a couple of costs that he didn't include, because he wasnsure if they belonged, as follows.Actual machine hours @budgeted variable-MOH rate: $15,950Flexible budget fixed-MOH cost: $27,250

The fixed overhead price variance is the difference between actual and budgeted fixed overhead…

Using the same framework, determine the fixed-MOH price and volume variances. Was fixed-MOH under-or overapplied this year? By how much? Fixed-MOH price variance Fixed-MOH volume variance Fixed-MOH eTextbook and Medial 750 300 Favorable Unfavorable 1050 Over-applied

Using the same framework, determine the fixed-MOH price and volume variances. Was fixed-MOH under-or overapplied this year? By how much? Fixed-MOH price variance Fixed-MOH volume variance Fixed-MOH eTextbook and Medial 750 300 Favorable Unfavorable 1050 Over-applied

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter24: Material And Labor Variances (primevar)

Section: Chapter Questions

Problem 4R: The worksheet you have developed will handle most simple variance analysis problems. Try the problem...

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Best, Inc. uses a standard cost system and provides the following information. (Click the icon to view the information.) variable overhead, $3,800; actual fixed overhead, $3, 500; actual direct labor hours, 1,400. Read the requirements. Data table Requirement 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and favorable (F) or unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standardco \table [[,, Formula,Variance], [VOH cost variance, = , 1 = , ], [VOH efficiency variance, =,1 =, 0
Thorne Company has the following information available for the past year. They use machine hours to allocate overhead. NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). For the variance conditions, your answer is either "F” (for Favorable) or "U” (for Unfavorable) - capital letter and no quotes. What is the variable overhead efficiency variance? Is it favorable or unfavorable?
Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 97,500 $27,165,000 112,500 29,715,000 124,500 31,755,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet Determine the variable cost per unit and the total fixed cost. Round your answer for variable cost to the nearest cent. Round your answer for total fixed costs to the nearest dollar. Variable cost: $fill in the blank 2 per unit Total fixed cost: $fill in the blank 3 Based on part (a), estimate the total cost for 80,000 units of production. Round your answer to the nearest dollar. Total cost for 80,000 units: $fill in the blank 4
Matthew was working away at his first attempt at variance analysis for his manufacturing company. He filled in variable-and fi MOH costs where he saw fit, before actually calculating the related price, efficiency, and volume variances. Since he was focus the overhead costs specifically, he made note of the allocation base being used, machine hours. Here is his work so far: Variable-MOH Fixed-MOH Actual Variable- MOH Cost $16,700 Fixed-MOH Master Budget $27,250 Variable-MOH Flexible Budget $15,500 Applied Fixed- MOH Cost $26,650 Applied Variable- MOH Cost Actual Fixed- MOH Cost $24,300 $15,500 Matthew isn't sure if he put the right costs in the right places. There were also a couple of costs that he didn't include, because wasn't sure if they belonged, as follows. Actual machine hours @ budgeted variable-MOH rate: $15,950 Flexible budget fixed-MOH cost: $27,250
The worksheet you have developed will handle most simple variance analysis problems. Try the problem below for Pscheidl, Inc.: Actual production for October was 11,500 units. Compute the direct materials and direct labor variances for Pscheidl, Inc. Be careful when entering your input because this problem presents the information in a different format from the McGrade Industries data. Save the file as PRIMEVAR4. Print the worksheet when done.
ThingOne Company has the following information available for the past year. They use machine hours to allocate overhead. What is the variable overhead efficiency variance?
Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs $28,166,000 104,000 114,000 29,781,000 128,000 32,042,000 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet a. Determine the variable cost per unit and the total fixed cost. Round your answer for variable cost to the nearest cent. Round your answer for total fixed costs to the nearest dollar. Variable cost: per unit Total fixed cost: b. Based on part (a), estimate the total cost for 84,000 units of production. Round your answer to the nearest dollar. Total cost for 84,000 units:
XYZ company produces a unit where delivery of its units to customers are related with all of the overheads.Computer expenditure and efficiency variance-ABC method. Budget: Overheads=4,000 Output =2,000 units Deliveries=20 Actual: Overheads =3,900 Output =2,100 units Deliveries to customers =19
You are provided with the following information. Direct materials Direct labor Variable manufacturing overhead Actual results: Actual output Actual variable manufacturing overhead cost $ Inputs Actual direct materials cost Actual direct labor cost Actual Quantity 8,050 Required: Use the information above to calculate the variances. Note: Use ABS() formula for variances. Actual Hours Actual Hours Actual Quantity 8,050 pounds 1,420 hours Actual Price Actual Rate Standard Quantity 2.9 pounds Actual Rate 0.65 hours 0.65 hours 2,420 units 9,060 $ su $ $ in is in $ $ Standard Price 4.90 22.30 per hour 6.19 per hour Actual Price 4.30 per pound 21.65 per hour Actual Quantity Actual Hours per pound Direct Materials Actual Hours Direct Labor Variable Overhead Standard Price Standard Rate Standard Rate Standard Quantity Standard Hours Standard Hours Standard Price Standard Rate Standard Rate
Please refer to the picture below for information. Kindly show the complete solution. Thank you so much. Please answer all my questions I badly need it. ? Compute for the following: 1. Actual labor rate per hour 2. Actual labor hours utilized 3. Labor rate variance
The Connors Company has assembled the following data pertaining to certain costs that cannot beeasily identified as either fixed or variable. Connors Company has heard about a method of measuringcost functions called the high-low method and has decided to use it in this situation.A company has heard about a method of measuring cost functions called the regression analysis and hasdecided to use it in this situation.Cost Hours$23,000 5,000$26,000 6,450$34,600 7,650$42,000 10,000$38,000 9,350What is the estimated total cost at an operating level of 9,000 hours?A) $34,200B) $38,200C) $41,400D) $37,800 Work question #7 using regression analysis
I. Krueger Corporation in Washington, D.C., U.S., recently implemented a standard cost system. The company's cost accountant has gathered the following information needed to perform a variance analysis at the end of the month: Standard Cost Information Direct materials .... Quantity allowed per unit . Direct labor rate .... Hours allowed per unit .. Fixed overhead budgeted . Normal level of production. Variable overhead application rate.. Fixed overhead application rate ($12,000 _ 1,200 units)... 10.00 per unit Total overhead application rate..... .. $5 per pound .100 pounds per unit $20.00 per hour . 2 hours per unit $12,000 per month 1,200 units $ 2.00 per unit $12.00 per unit Actual Cost Information Cost of materials purchased and used... Pounds of materials purchased and used . Cost of direct labor.. Hours of direct labor.. $468,000 .104,000 pounds $46,480 . 2,240 hours $2,352 .$12,850 .1,000 units Cost of variable overhead Cost of fixed overhead . Volume of production.…