During the period, Shalom Company produced 8,000 units and applied overhead based on the direct labor hours.The standard cost card showed the following information:Standard Direct labor hours per unitActual Direct labor hoursStandard Fixed overhead per DLHStandard Variable overhead per DLHBudgeted variable overheadActual Variable overhead costBudgeted fixed overhead325,000P1.90P2.20P48,000P51,000P55,000P57,500Actual Fixed overhead costDetermine the variances based on the information above. Indicate as favorable or unfavorable.Format should be: 8,000 F or 8,000 UFNo need to indicate if the amount is positive or negative.Amounts must be in whole numbers. Example: 88,000 or (88,000)Unit costs be in whole numbers. Example: 88Format of percentages: 88%Words must be in capital letters.What is the variable overhead spending variance?

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Description: During the period, Shalom Company produced 8,000 units and applied overhead based on the direct labor hours.The standard cost card showed the following information:Standard Direct labor hours per unitActual Direct labor hoursStandard Fixed overhead

Variable overhead spending variance : Variable overhead spending variance is the difference between…

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During the period, Shalom Company produced 8,000 units and applied overhead based on the direct labor hours. The standard cost card showed the following information: Standard Direct labor hours per unit Actual Direct labor hours Standard Fixed overhead per DLH Standard Variable overhead per DLH Budgeted variable overhead 3 25,000 P1.90 P2.20 P48,000 Actual Variable overhead cost P51,000 Budgeted fixed overhead P55,000 Actual Fixed overhead cost P57,500 Determine the variances based on the information above. Indicate as favorable or unfavorable. Format should be: 8,000 F or 8,000 UF No need to indicate if the amount is positive or negative. Amounts must be in whole numbers. Example: 88,000 or (88,000) Unit costs be in whole numbers. Example: 88 Format of percentages: 88% Words must be in capital letters. What is the variable overhead spending variance?

During the period, Shalom Company produced 8,000 units and applied overhead based on the direct labor hours. The standard cost card showed the following information: Standard Direct labor hours per unit Actual Direct labor hours Standard Fixed overhead per DLH Standard Variable overhead per DLH Budgeted variable overhead 3 25,000 P1.90 P2.20 P48,000 Actual Variable overhead cost P51,000 Budgeted fixed overhead P55,000 Actual Fixed overhead cost P57,500 Determine the variances based on the information above. Indicate as favorable or unfavorable. Format should be: 8,000 F or 8,000 UF No need to indicate if the amount is positive or negative. Amounts must be in whole numbers. Example: 88,000 or (88,000) Unit costs be in whole numbers. Example: 88 Format of percentages: 88% Words must be in capital letters. What is the variable overhead spending variance?

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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Subject : Accounting
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