FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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ComplexChem,
Inc., produces chemicals for large biotech companies. It has the following data for 2020:
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(ClickRequirement
Fill in the blanks. Use F for favorable and U for unfavorable:
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(Click(If no variance exists leave the dollar value blank. Label the variance as favorable (F), unfavorable (U) or never a variance (N).)
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Variable
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(1)
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Spending variance
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(2)
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Efficiency variance
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(3)
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Production-volume variance
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(4)
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Flexible-
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(5)
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Underallocated (overallocated) manufacturing overhead
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Fixed
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Choose from any list or enter any number in the input fields and then continue to the next question.
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Data Table
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Variable
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Fixed
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Actual costs incurred
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$34,000
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$16,500
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Costs allocated to products
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29,000
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14,400
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Flexible budget
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13,600
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Actual input × budgeted rate
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32,000
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PrintDone
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