The following data is given for Bahia Company:Budgeted productionActual productionMaterials:Standard price per poundStandard pounds per completed unitActual pounds purchased and used in productionActual price paid for materialsLabor:Standard hourly labor rateStandard hours allowed per completed unitActual labor hours workedActual total labor costsOverhead:Actual and budgeted fixed overheadStandard variable overhead rateActual variable overhead costsOverhead is applied on standard labor hours.The variable factory overhead controllable variance isa. $165,014.59 unfavorableOb. $165,014.59 favorablec. $25,004.00 unfavorableOd. $25,004.00 favorable1,097 units940 units$1.981109,118$18,692$14.61 per hour4.94,841$73,825$1,153,000$24.00 per standard labor hour$135,548

Name: The following data is given for Bahia Company:Budgeted productionActu
Uploaded: 2024-03-20T06:33:06.000Z
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Description: The following data is given for Bahia Company:Budgeted productionActual productionMaterials:Standard price per poundStandard pounds per completed unitActual pounds purchased and used in productionActual price paid for materialsLabor:Standard hourly

Given,Standard hours allowed per unit = 4.9Actual production = 940 units

Answered: the variable factory overhead…

Business

Accounting

the variable factory overhead controllable variance is a. $165,014.59 unfavorable b. $165,014.59 favorable c. $25,004.00 unfavorable d. $25,004.00 favorable

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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1.3 REQUIRED Use the information provided below to calculate the following variances. Each answer must indicate whether the variance is favourable or unfavourable. 1.3.1 Material quantity variance 1.3.2 Labour rate variance 1.3.3 Variable manufacturing overheads efficiency variance INFORMATION The standard variable costs per unit (with a standard quantity of 25 000 units), set by Kidman Manufacturers, for Product M are as follows: Materials Labour Variable overhead 4 kg at R10 per kg 2 hours at R20 per hour 2 hours at R12 per hour The actual costs for October 2022 are as follows: Materials Materials Labour Variable overhead 100 000 kg were purchased for R980 000 78 000 kg were used to produce 20 000 units of Product M 41 000 labour hours at R19.60 per hour R500 200 incurred