Orlando Company, which applies overhead to production on the basis of machine hours, reported the following data for the period just ended: Actual units produced: 12,000 Actual variable overhead incurred: $67,700 Actual machine hours worked: 17,500 Standard variable overhead cost per machine hour: $4.90 If Orlando estimates 1.30 hours to manufacture a completed unit, the company's variable-overhead spending variance is: Multiple Choice $9,310 unfavorable. $18,050 favorable. $9,310 favorable.

Orlando Company, which applies overhead to production on the basis of machine hours, reported the following data for the period just ended: Actual units produced: 12,000 Actual variable overhead incurred: $67,700 Actual machine hours worked: 17,500 Standard variable overhead cost per machine hour: $4.90 If Orlando estimates 1.30 hours to manufacture a completed unit, the company's variable-overhead spending variance is: Multiple Choice $9,310 unfavorable. $18,050 favorable. $9,310 favorable.

Name: Orlando Company, which applies overhead to production on the basis of
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Orlando Company, which applies overhead to production on the basis of machine hours, reported the following data for the period just ended:Actual units produced: 12,000Actual variable overhead incurred: $67,700Actual machine hours worked: 17,500Stan

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Adams Company established a predetermined variable overhead cost rate at S10.00 per direct labor hour. The actual variable overhead cost rate was $9.10 per hour. The planned level of labor activity was 74,500 hours of labor. The company actually used 79,000 hours of labor. Required a. Determine the total flexible budget variable overhead cost variance and indicate the effect of the variance by selecting favorable (F) or unfavorable (U).
The standard costs and actual costs for factory overhead for the manufacture of 2,500 units of actual production are as follows: Standard Costs 3 hours per unit at $0.71 per hour 3 hours per unit at $1.92 per hour Fixed overhead (based on 10,000 hours) Variable overhead Actual Costs Total variable cost, $18,200 Total fixed cost, $8,100 The variable factory overhead controllable variance is Oa. $3,800 unfavorable Ob. $3,800 favorable Oc. $3,040 favorable Od. So
Beverly Company has determined a standard variable overhead rate of $4.00 per direct labor hour and expects to incur 0.50 labor hour per unit produced. Last month, Beverly incurred 1,700 actual direct labor hours in the production of 3,500 units. The company has also determined that its actual variable overhead rate is $2.40 per direct labor hour. Calculate the variable overhead rate and efficiency variances as well as the total amount of over- or underapplied variable overhead. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Variable Overhead Rate Variance $2,720 F Variable Overhead Efficiency Variance $200 F Over or under applied Variable Overhead??- how do I figure this out??
Feagin Company’s actual variable overhead was $73,000. Actual direct labor hours were 25,000 to make 20,000 finished products. The per-unit standard for direct labor hour is 1.5 hours, and the pre-determined variable overhead rate is $3 per direct labor hour. What were (1) the variable overhead spending variance (2) the variable overhead efficiency variance?
The following data for May has been provided by Mccawley Corporation. Denominator level of activity 4,200 machine-hours Budgeted fixed manufacturing overhead costs $ 83,160 Actual level of activity 4,300 machine-hours Standard machine-hours allowed for the actual output 4,400 machine-hours Actual fixed manufacturing overhead costs $ 86,940 The volume variance for May is:
A company manufactures one product, the JB3. Budgeted fixed overhead per unit is 1 and budgeted output is 4,000 units. Actual output is 4, 800 units and the actual overheads are 44,800. What is the fixed overhead expenditure variance? a) 3, 200 Adverse b) 4, 800 Favourable c) 4, 800 Adverse d) 3, 200 Favourable
At Overland Company, maintenance cost is exclusively a variable cost that varies directly with machine-hours. The performance report for July showed that actual maintenance costs totaled $9,800 and that the associated rate variance was $200 unfavorable. If 8,000 machine-hours were actually worked during July, the budgeted maintenance cost per machine-hour was:
The standard costs and actual costs for factory overhead for the manufacture of 2,800 units of actual production are as follows: Standard Costs Fixed overhead (based on 10,000 hours) 3 hours per unit @ $0.78 per hour Variable overhead 3 hours per unit @ $1.91 per hour Actual Costs Total variable cost, $17,800 Total fixed cost, $8,100 The variable factory overhead controllable variance is a.$1,756 favorable b.$1,756 unfavorable c.$1,405 favorable d.$0
The variable overhead expenditure and efficiency variances are: PQR has prepared the following standard cost information for one unit of product X: Direct materials 2 kg @ $13/kg Direct labour 3.3 hours @ $12/hour Variable overheads 3.3 hours @ $2.50 Actual results for the period were recorded as follows: 12,000 units Production Materials - 26,400 kg Labour - 40,200 hours Variable overheads $336,600 $506,520 $107,250 * $26.00 $39.60 $8.25
Nevada Limited set a standard labour rate of R32 per hour and a standard variable overhead rate of R3.80 perlabour hour.Actual hours worked for March 2022 were 4 910 at a cost of R149 264. The actual variable overhead cost incurredwas R19 640. The standard allowance of labour hours for the output achieved was 5 000 hours. Use the information provided above to calculate the following manufacturing variances for March2022. Note: Each answer must state whether the variance is favourable or unfavourable.Labour rate varianceLabour efficiency varianceVariable overheads efficiency varianceVariable overheads expenditure variance
How would i solve this problem
ThingOne Company has the following information available for the past year. They use machine hours to allocate overhead. Actual total overhead $73,060 Actual fixed overhead $32,000 Actual machine hours 10,000 Standard hours for the units produced 9,400 Standard variable overhead rate $4.40 What is the variable overhead efficiency variance? Enter the amount as positive number. Variable overhead efficiency variance $