STANDARD COSTING ASSIGNMENT ( SOLVE ONLY 1- 17)||1-10 Spots Inc. uses a standard cost system for its production process. Spots appliesoverhead based on direct labor hours. The following information is available for July:Standard:Actual:Direct labor hours per unitVariable overhead per hourFixed overhead per hour (based on 11,990 DLH) P3.002.20Units producedDirect labor hours4,4008,800P29,950P42,300P 2.50Variable overheadFixed overhead 4. Using the four-variance approach, what is the volume variance?а. Р 6,930 U b. Р 13,260 Ud. P 2,640 Fс. РО5. Using the three-variance approach, what is the spending variance?b. P 23,850 Fа. Р 23,850 Uc. P 14,280 Fd. P 14,280 U6. Using the three-variance approach, what is the efficiency variance?a. P 11,770 F b. P 2,200 Fc. P7,975 Ud. P 5,775 Uwww ww

4. Using the four-variance approach, the volume variance is Volume Variance =…

4. Using the four-variance approach, what is the volume variance? a. P 6,930 U b. P 13,260 U с. РО d. P 2,640 F 5. Using the three-variance approach, what is the spending variance? b. P 23,850 F c. P 14,280 F a. P 23,850 U d. P 14,280 U 6. Using the three-variance approach, what is the efficiency variance? b. P 2,200 F а. Р 11,770 F c. P7,975 U d. P5,775 U

4. Using the four-variance approach, what is the volume variance? a. P 6,930 U b. P 13,260 U с. РО d. P 2,640 F 5. Using the three-variance approach, what is the spending variance? b. P 23,850 F c. P 14,280 F a. P 23,850 U d. P 14,280 U 6. Using the three-variance approach, what is the efficiency variance? b. P 2,200 F а. Р 11,770 F c. P7,975 U d. P5,775 U

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 11P: Overhead application rate Creole Manufacturing Inc. uses a job order cost system and standard costs....

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STANDARD COSTING ASSIGNMENT ( SOLVE ONLY 1- 17)|| 1-10 Spots Inc. uses a standard cost system for its production process. Spots applies overhead based on direct labor hours. The following information is available for July: Standard: Actual: Direct labor hours per unit Variable overhead per hour Fixed overhead per hour (based on 11,990 DLH) P3.00 2.20 Units produced Direct labor hours 4,400 8,800 P29,950 P42,300 P 2.50 Variable overhead Fixed overhead
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