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Indirect labor Fixed overhead costs: Supervision Utilities Factory depreciation Total overhead cost 8,670 5,610 8,160 39,780 $73,440 8,030 5,940 7,990 39,950 $72,580

Indirect labor Fixed overhead costs: Supervision Utilities Factory depreciation Total overhead cost 8,670 5,610 8,160 39,780 $73,440 8,030 5,940 7,990 39,950 $72,580

FINANCIAL ACCOUNTING
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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Lossing Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhead costs for the most recent month appear below: Original Budget Variable overhead costs: Supplies Indirect labor. Fixed overhead costs: Supervision Utilities Factory depreciation. Total overhead cost. Multiple Choice O $3,150 Favorable $3,150 Unfavorable The company based its original budget on 5,100 machine-hours. The company actually worked 4,800 machine-hours during the month. The standard hours allowed for the actual output of the month totaled 4,980 machine-hours. What was the overall fixed manufacturing overhead volume variance for the month? $1,260 Unfavorable $11,220 8,670 $1,260 Favorable 5,610 8,160 39,780 $73,440 Actual Costs $10,670 8,030 5,940 7,990 39,950 $72,580
Transcribed Image Text:Lossing Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhead costs for the most recent month appear below: Original Budget Variable overhead costs: Supplies Indirect labor. Fixed overhead costs: Supervision Utilities Factory depreciation. Total overhead cost. Multiple Choice O $3,150 Favorable $3,150 Unfavorable The company based its original budget on 5,100 machine-hours. The company actually worked 4,800 machine-hours during the month. The standard hours allowed for the actual output of the month totaled 4,980 machine-hours. What was the overall fixed manufacturing overhead volume variance for the month? $1,260 Unfavorable $11,220 8,670 $1,260 Favorable 5,610 8,160 39,780 $73,440 Actual Costs $10,670 8,030 5,940 7,990 39,950 $72,580
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