May you help me with this please rObj. 3, 4Road Gripper Tire Co. manufactures automobile tires. Standard costs and actualcosts for direct materials, direct labor, and factory overhead incurred for themanufacture of 4,160 tires were as follows:Direct materialsDirect laborFactory overheadStandard Costs100,000 lb. at $6.402,080 hrs. at $15.75Rates per direct labor hr.,based on 100% of normalcapacity of 2,000 directlabor hrs.:Variable cost, $4.00Fixed cost, $6.00Each tire requires 0.5 hour of direct labor.Actual Costs101,000 lb. at $6.502,000 hrs. at $15.40$8,200 variable cost$12,000 fixed costExcel 4049B6667685051 Variable factory overhead controllable variance:52 Actual variable FO cost incurred53545569707172D56 Fixed factory overhead volume variance:57585960616263 Total factory overhead cost variance6465Budgeted variable FO cost for 2,080 hrs.Variance>Hours at normal capacityStandard hours for amount producedProductive capacity not usedStandard fixed FO cost rateVariancePr. 23-3BFactory Overhead Cost VarianceE+FGHIJLMKLNOActual FactoryOverheadPAlternative Computation of Overhead Variances:Actual costsBalanceControllableVariance⠀QR S TUVFactory OverheadVariable costFixed costTotalWTotal FactoryOverhead CostVarianceBudgeted Factory Overheadfor Amount ProducedX YZApplied costsAAVolumeVarianceAIACAD ΑΔApplied FactoryOverhead

Name: May you help me with this please rObj. 3, 4Road Gripper Tire Co. manuf
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Description: May you help me with this please rObj. 3, 4Road Gripper Tire Co. manufactures automobile tires. Standard costs and actualcosts for direct materials, direct labor, and factory overhead incurred for themanufacture of 4,160 tires were as follows:Direct

Total factory overhead cost variance is the sum of variable factory overhead controllable variance…

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Road Gripper Tire Co. manufactures automobile tires. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 4,160 tires were as follows:

Road Gripper Tire Co. manufactures automobile tires. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 4,160 tires were as follows:

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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Road Gripper Tire Co. manufactures automobile tires. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 4,160 tires were as follows: Standard Costs Actual Costs Direct materials 100,000 lbs. at $6.40 101,000 lbs. at $6.50 Direct labor 2,080 hrs. at $15.75 2,000 hrs. at $15.40 Factory overhead Rates per direct labor hr., based on 100% of normal capacity of 2,000 direct labor hrs.: Variable cost, $4.00 $8,200 variable cost Fixed cost, $6.00 $12,000 fixed cost Each tire requires 0.5 hour of direct labor. Required: a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Price variance $ Quantity variance $ Total direct materials cost variance $ b. Determine the direct…
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Neelopak Berhad prepared the standard cost data for one of their products.Direct Labour (0.65 hours @ RM11) RM7.15Direct Materials (5 meters @ RM5) RM25Variable Overhead (0.65 hours @ RM7) RM4.55Fixed Overhead (0.65 hours @ RM3) RM1.95Standard cost per unit RM38.65There is the actual cost data information:Production 7,500 unitDirect materials used (23500 meter) RM124,550Direct materials purchasing (24,000 meter) RM132,000Direct labor (3000 hours) RM34,500Variable overhead RM21,600Fixed overhead RM7,800Budgeted activities are 2,600 hours.You are required to calculate:vii) Variance of fixed overhead expensesviii) Variance of fixed overhead volume
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