Calculating the Variable Overhead Spending and Efficiency VariancesStandish Company manufactures consumer products and provided the following information for the month of February: Calculating the Variable Overhead Spending and Efficiency VariancesStandish Company manufactures consumer products and provided the following information for the month of February:Units produced131,600Standard direct labor hours per unit0.2Standard variable overhead rate (per direct labor hour)$3.40Actual variable overhead costs$88,750Actual hours worked26.850Required:1. Calculate the variable overhead spending variance using the formula approach. (If you compute the actual variable overhead rate, carry your computations out to five significant digits and round the variance to the nearest dollar.)X Favorable2. Calculate the variable overhead efficiency variance using the formula approach.X Unfavorable

Name: Calculating the Variable Overhead Spending and Efficiency VariancesSta
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Description: Calculating the Variable Overhead Spending and Efficiency VariancesStandish Company manufactures consumer products and provided the following information for the month of February: Calculating the Variable Overhead Spending and Efficiency VariancesSt

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1. Calculate the variable overhead spending variance using the formula approach. (If you compute the actual variable overhead rate, carry your computations out to five significant digits and round the variance to the nearest dollar.) X Favorable - 2. Calculate the variable overhead efficiency variance using the formula approach. X Unfavorable

1. Calculate the variable overhead spending variance using the formula approach. (If you compute the actual variable overhead rate, carry your computations out to five significant digits and round the variance to the nearest dollar.) X Favorable - 2. Calculate the variable overhead efficiency variance using the formula approach. X Unfavorable

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1. Compute the materials price and quantity variances for August. 2. Compute the labor rate and efficiency variances for August. 3. Compute the variable overhead rate and efficiency variances for August.
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured AH = Actual Hours SH Standard Hours AR = Actual Rate SR = Standard Rate Standard Quantity and Cost 6 pounds @ $8 per pound 3 DLH @ $16 per DLH 3 DLH @ $12 per DLH Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.) Actual Cost Actual Results 46,100 pounds @ $8.20 per pound 22,500 hours @ $16.50 per hour $ 278,600 7,600 units Standard Cost
A. Show the solution for each. Compute in details the Variable Manufacturing Overhead Variances - Spending and Efficiency. B. Show the solution for each. Compute in details the Fixed Manufacturing Overhead Variances - Budget and Volume.
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Subject: acounting
What is tha manufacturing overhead rate variance in march...??
The controller at Wesson Company's manufacturing plant has provided you with the following information for the first quarter's operations: Direct materials Fixed manufacturing overhead costs Sales price Variable manufacturing overhead Direct labor Fixed marketing and administrative costs Units produced and sold during the quarter Variable marketing and administrative costs Required: a. Determine the variable cost per unit. b. Determine the variable manufacturing cost per unit. c. Determine the full absorption cost per unit. d. Determine the full cost per unit. e. Determine the profit margin per unit. f. Determine the gross margin per unit. g. Determine the contribution margin per unit. Note: Round your answer to 2 decimal places. a. Variable cost per unit b. Variable manufacturing cost per unit c. Full absorption cost per unit d. Full cost per unit e. Profit margin per unit f. Gross margin per unit g. Contribution margin per unit $ 116 per unit $ 2,540,000 $ 525 per unit $57 per unit…
Happy Valley Pet Products uses a standard costing system that applies overhead to products based on standard direct labour-hours allowed for actual output of the period. During the recent year, the following data were collected: Total budgeted fixed overhead cost for the year Budgeted standard direct labour-hours Actual fixed overhead cost for the year Actual direct labour-hours Standard direct labour-hours allowed for the actual output $63,450 $60,950 14,100 15,300 12,600 Required. 1. Compute the fixed portion of the predetermined overhead rate for the year. (Round your answer to 2 decimal places.) Predetermined overhead rate per DLH 2. Compute the fixed overhead budget and volume variances. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).) Fixed overhead budget variance Fixed overhead volume variance
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enow.com stom Order < eBook Fixed overhead cost: Factory Overhead Cost Variance Report Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 17,000 hours for production: Variable overhead cost: Indirect factory labor Power and light Indirect materials Total variable overhead cost LakeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Supervisory salaries Depreciation of plant and equipment Insurance and property taxes Total fixed overhead cost Indirect factory labor Power and light Indirect materials Print Item Total variable cost Check My Work $40,560 11,470 20,200 $72,230 $44,200 12,410 20,400 Total factory overhead cost Tannin has available 21,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 16,000 hours for production. The actual fixed costs were as budgeted.…
Subject: acounting
f. Calculate the variable overhead spending variance for Job Alpha g. Calculate the variable overhead efficiency variance for Job Alpha h. What is the company’s fixed overhead spending variance