What is the amount of the Factory OH Volume Variance, given the following info: Actual production = 5,000 units Actual Costs = $202,500.00 for variable FOH + $60,000.00 for fixed FOH Budgeted Costs = $250,000 (standard hours for 5,000 units produced of 25,000 hours * standard FOH rate of $10.00) The standard OH rate = $10.00 per DL hour ($8.00 for variable FOH and $2.00 for fixed FOH) based on 100% capacity of 30,000 DL hours Group of answer choices $12,500.00 favorable $12,500.00 unfavorable $10,000.00 favorable $10,000.00 unfavorable

What is the amount of the Factory OH Volume Variance, given the following info: Actual production = 5,000 units Actual Costs = $202,500.00 for variable FOH + $60,000.00 for fixed FOH Budgeted Costs = $250,000 (standard hours for 5,000 units produced of 25,000 hours * standard FOH rate of $10.00) The standard OH rate = $10.00 per DL hour ($8.00 for variable FOH and $2.00 for fixed FOH) based on 100% capacity of 30,000 DL hours Group of answer choices $12,500.00 favorable $12,500.00 unfavorable $10,000.00 favorable $10,000.00 unfavorable

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 17EB: The production cost for UV protective sunglasses is $5.50 per unit and fixed costs are $19,400 per...

See similar textbooks

Similar questions

Formidable Company collected the following information: Standard costs per unit: Variable overhead 4 machine hours @ $6 per machine hour Fixed overhead 4 machine hours @ $10 per machine hour Actual output 20,000 units Denominator (normal capacity) output 21,000 units Actual machine hours 79,000 machine hours Actual variable overhead cost $540,000 Actual fixed overhead cost $810,000 Using the two variance method, what is the volume variance? a.$6,000 (F) b.$40,000 (F) c.$40,000 (U) d.$6,000 (U)
Given the following information in standard costing: Standard 18,200 hours at $6.20 Actual 18,000 hours at $6.00 What is the direct labor rate variance?
The standard material cost to produce 1 unit of product r is 6 pounds of material at a standar price of $50 per pound . In manufacturing 8000 units 47000 pounds of material we're used at a cost of $51 per pound . What is the direct material price variance
What is the amount of the Factory OH Controllable Variance, given the following info: Actual production = 15,000 units Actual Costs = $360,000.00 for variable FOH + $104,000.00 for fixed FOH Budgeted Costs = $450,000 (standard hours for 15,000 units produced of 60,000 hours * standard FOH rate of $7.50) The standard OH rate = $7.50 per machine hour ($6.20 for variable FOH and $1.30 for fixed FOH) based on 100% capacity of 80,000 machine hours Group of answer choices $14,000.00 unfavorable $12,000.00 unfavorable $12,000.00 favorable $26,000.00 unfavorable
Formidable Company collected the following information: Standard costs per unit: Variable overhead 4 machine hours @ $6 per machine hour Fixed overhead 4 machine hours @ $10 per machine hour Actual output 20,000 units Denominator (normal capacity) output 21,000 units Actual machine hours 79,000 machine hours Actual variable overhead cost $540,000 Actual fixed overhead cost $810,000 Using the two variance method, what is the total variance? a.$70,000 (F) b.$30,000 (U) c.$70,000 (U) d.$30,000 (F)
Acme Inc. has the following information available: $ 1.00 $ 1.20 Actual price paid for material Standard price for material Actual quantity purchased and used in production 100 Standard quantity for units produced 110 $ 15.00 $ 16.00 Actual labor rate per hour Standard labor rate per hour Actual hours 200 Standard hours for units produced 220 Calculate the Labor Efficiency (Time) Variance and indicate if the variance is favorable or unfavorable
The following data relate to direct labor costs for the current period: Standard costs 6,000 hours at $12.00 Actual costs 7,500 hours at $11.40 What is the direct labor rate variance? a.$17,100 unfavorable b.$4,500 favorable c.$3,600 favorable d.$18,000 unfavorable
Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a standard hourly rate of $20.00 per hour. 15,400 units used 64,300 hours at an hourly rate of $19.30 per hour. What is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Round your answers to the nearest dollar.
o Yealink Company produces a product that requires 5.0 standard pounds per unit. The standard price is $7.50 per pound. If 30,000 units used 72,000 pounds, which were purchased at $8.00 per pound, what is the direct materials (A) price variance, (B) quantity variance, and (C) cost variance?
Acme Inc. has the following information available: Actual price paid for material $1.000 Standard price for material $0.730 Actual quantity purchased and used in production 100 Standard quantity for units produced 80 Actual labor rate per hour $16 Standard labor rate per hour $14 Actual hours 200 Standard hours for units produced 230 Compute the material price and quantity, and the labor rate and efficiency variances. Round your answers to two decimal places. Enter all amounts as positive numbers. Material price variance Material quantity variance Labor rate variance $ Labor efficiency variance $ Favorable Unfavorable
The following standard cost data are for Dito Ltd. for January 2019: Per unit: Direct material 15kg@$5/kg Direct labour 4hr@$12/hr During January, Dito produced 720 units of output, which was 30 units less than expected. Direct material purchased and used was 10,500 kg @ $5.25/kg. Direct labour was 2,900 hours @ 12.25/hr. Questions: What were the price and quantity variances for direct material, respectively? What were the rate and efficiency variances for direct labour, respectively?
Given on the following information, calculate the variable overhead rate variance. Actual variable overhead cost $15,500; Actual hours used 4,200, Standard hours allowed 4,000; and Standard variable overhead rate $3.75 per hour. O $500 F O $250 U O $250 F O $500 U Î