The standard costs and actual costs for factory overhead for the manufacture of 2,500 units of actual production are as follows: Standard Costs Fixed overhead (based on 10,000 hours) Variable overhead Actual Costs Total variable cost, $18,200 Total fixed cost, $7,900 3 hours per unit at $0.74 per hour 3 hours per unit at $1.98 per hour The variable factory overhead controllable variance is O a. $3,350 unfavorable Ob. So O c. $3,350 favorable O d. $2,680 favorable

The standard costs and actual costs for factory overhead for the manufacture of 2,500 units of actual production are as follows: Standard Costs Fixed overhead (based on 10,000 hours) Variable overhead Actual Costs Total variable cost, $18,200 Total fixed cost, $7,900 3 hours per unit at $0.74 per hour 3 hours per unit at $1.98 per hour The variable factory overhead controllable variance is O a. $3,350 unfavorable Ob. So O c. $3,350 favorable O d. $2,680 favorable

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Description: The standard costs and actual costs for factory overhead for the manufacture of 2,500 units of actual production are as follows:Standard CostsFixed overhead (based on 10,000 hours)Variable overheadActual CostsTotal variable cost, $18,200Total fixed

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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The standard costs and actual costs for factory overhead for the manufacture of 2,700 units of actual production are as follows: Fixed overhead (based on 10,000 hours) Variable overhead Actual Costs Total variable cost, $17,800 Total fixed cost, $8,200 The total factory overhead cost variance is Oa. $1,600 unfavorable Ob. $2,930 favorable Oc. $2,930 unfavorable Od. $4,260 favorable Standard Costs 3 hours per unit at $0.70 per hour 3 hours per unit at $2.00 per hour
Also, compute the fixed overhead production volume variance
Owe
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
Data on Gantry Company's direct labor costs are given below: Standard direct labor-hours Actual direct labor-hours Direct labor efficiency variance-favorable Direct labor rate variance-favorable Total direct labor payroll What was Gantry's actual direct labor rate? 35,000 34,000 $ 4,100 $ 6,800 $ 132,600 Multiple Choice $4.10 $3.70 $3.90 $6.80
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 $1.90 per hour Fixed overhead (based on 10,000 hours) Variable overhead Actual Costs Total variable cost, $17,800 Total fixed cost, $7,900 The fixed factory overhead volume variance is Oa. So Ob. $1,420 unfavorable Oc. $1,775 unfavorable Od. $1,420 favorable
The following information relating to a company's overhead costs is available. Budgeted fixed overhead rate per machine hour Actual variable overhead Budgeted variable overhead rate per machine hour Actual fixed overhead Budgeted hours allowed for actual output achieved Based on this information, the total overhead variance is: Multiple Choice O O $69,000 favorable. $112,000 favorable. $43,000 unfavorable. $112,000 unfavorable. $43,000 favorable. $ 1.50 $ 99,000 $ 4.00 $ 20,000 42,000
Wilms, Inc. uses a standard cost system. Overhead cost information for product A for the month of November is as follows: Total actual overhead incurred, P12,600 Fixed overhead budgeted, P3,300 Total standard overhead rate per direct labor, P4.00 Variable overhead rate per direct labor hour, P3.00 Standard hours allocated for actual production, 3,500 What is the overall (or net) overhead variance? O P1,400 unfavorable P1,200 unfavorable P1,400 favorable O P1,200 favorable
AGL Inc. provided the following data related to the direct labor costs for the current period: Data Related to Direct Labor Costs Data Rate Hours Standard $17.50 12,000 Actual $15.50 14,000 Determine the direct labor cost variance. Group of answer choices -$7,000 favorable -$28,000 favorable $7,000 unfavorable $28,000 unfavorable
Each of the following independent situations relates to direct labor. Fill in the blanks. А В C D Units produced 4,000 3,000 Actual hours worked 1,900 8,400 Standard hours for production achieved 2,000 6,000 Standard hours per unit 0.5 2 3 Standard rate per hour P12 P10 P12 Actual labor cost P83,600 P24,500 Rate variance P310U P900U Р300F Efficiency variance P2,000U P1,800F P800 U
Using a traditional cost system and applies overhead to production based on machine hours. Estimated overhead cost $150,000 Actual overhead cost $140,000 Estimated machine hours 20,000 hrs Actual machine hours 25,000 Determine the overhead variance for the period? Is it $10,000 overlapped?