1: Calculate the fixed factory overhead volume variance and state why it is favorable or unfavorable. 2: Calculate the variable factory overhead controllable variance and state why it is favorable or unfavorable. 3: Calculate the total factory overhead variance. Use this information to answer the next few questions:We know the following information for Gummy Bears Inc:Total Units of Product Produced:40,000Standard Costs120,000 lbs @ $3.20 per lb.12,000 lbs @ $24.40 per hr.Actual Costs115,500 lbs @ $3.25 per lb11,700 lbs @ $25.00 per hrDirect MaterialsDirect LaborFactory OH100% of Capacity: 15,000 hoursVariable Rate: $8.00 / hour$91,200 Variable CostFixed Rate: $10.00 / hours$150,000 Fixed CostEach unit we produce requires 0.3 hour of direct labor

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Description: 1: Calculate the fixed factory overhead volume variance and state why it is favorable or unfavorable. 2: Calculate the variable factory overhead controllable variance and state why it is favorable or unfavorable. 3: Calculate the total factory overhe

Fixed factory overhead volume variance = Applied Fixed Overhead – Budgeted Fixed Overhead Applied…

Business

Accounting

Calculate the fixed factory overhead volume variance and state why it is favorable or unfavorable. 2: Calculate the variable factory overhead controllable variance and state why it is favorable or unfavorable. 3: Calculate the total factory overhead variance.

Calculate the fixed factory overhead volume variance and state why it is favorable or unfavorable. 2: Calculate the variable factory overhead controllable variance and state why it is favorable or unfavorable. 3: Calculate the total factory overhead variance.

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter15: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 3CMA: A firm has 100,000 in direct materials costs, 50,000 in direct labor costs, and 80,000 in overhead....

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