At the beginning of the year, you estimated the following -Production - 75,000 unitsRaw Material - 270,000 pounds at a cost of $1,026,000Direct Labor - 187,500 hours at a cost of $4,125,000Variable Overhead - 135,000 machine hours at a cost of $567,000Fixed Overhead - $900,000At the end of year, the actual results were as follows -Production - 73,000 unitsRaw Material - 265,720 pounds purchased and used at a cost of $1,036,308Direct Labor - 179,580 hours at a cost of $3,968,718Variable Overhead - 133,590 machine hours at a cost of $558,406.20Fixed Overhead - $891,000 28) What is the Spending Variance for Fixed Overhead ?Question 2929) The Spending Variance for Fixed Overhead is Favorable.TrueFalseQuestion 3030) What is the Total Variance for Fixed Overhead ?

Name: At the beginning of the year, you estimated the following -Production
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Description: At the beginning of the year, you estimated the following -Production - 75,000 unitsRaw Material - 270,000 pounds at a cost of $1,026,000Direct Labor - 187,500 hours at a cost of $4,125,000Variable Overhead - 135,000 machine hours at a cost of $567,

Variance: It is the difference between budgeted and actual expenditures and revenue.

Business

Accounting

At the beginning of the year, you estimated the following - Production - 75,000 units Raw Material - 270,000 pounds at a cost of $1,026,000 Direct Labor - 187,500 hours at a cost of $4,125,000 Variable Overhead - 135,000 machine hours at a cost of $567,000 Fixed Overhead - $900,000

At the beginning of the year, you estimated the following - Production - 75,000 units Raw Material - 270,000 pounds at a cost of $1,026,000 Direct Labor - 187,500 hours at a cost of $4,125,000 Variable Overhead - 135,000 machine hours at a cost of $567,000 Fixed Overhead - $900,000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 7EB: A company estimates its manufacturing overhead will be $840,000 for the next year. What is the...

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A company estimates its manufacturing overhead will be $525,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? When required, round your answers to nearest cent. A. Budgeted direct labor hours: 42,000 per direct labor hour B. Budgeted direct labor expense: $1,050,000 per direct labor dollar C. Estimated machine hours: 70,000 per machine hour
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At the beginning of the year, you estimated the following - Production - 75,000 units Raw Material - 270,000 pounds at a cost of $1,026,000 Direct Labor - 187,500 hours at a cost of $4,125,000 Variable Overhead - 135,000 machine hours at a cost of $567,000 Fixed Overhead - $900,000 At the end of year, the actual results were as follows - Production - 73,000 units Raw Material - 265,720 pounds purchased and used at a cost of $1,036,308 Direct Labor - 179,580 hours at a cost of $3,968,718 Variable Overhead - 133,590 machine hours at a cost of $558,406.20 Fixed Overhead - $891,000 16) The Total Variance for Direct Labor is Favorable. 17) What is the Variable Overhead standard for machine hours per unit ? 18) What is the standard rate per machine hour for Variable Overhead ? 19) What is the Efficiency Variance for Variable Overhead ? please answer complete
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