Please do not give solution in image format thanku Variable overheadFixed overheadTotal manufacturing costs70,200$231,775The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Rawmaterials inventories, therefore, can be ignored.Overhead controllable variance $Overhead volume variance25,300Compute the overhead controllable variance and the overhead volume variance.$to Swifty Corporation manufactures a single product. The standard cost per unit of product is shown below.Direct materials-1 pound plastic at $7 per poundDirect labor-1.5 hours at $12.50 per hourVariable manufacturing overheadFixed manufacturing overheadTotal standard cost per unitDirect materials (5,330 pounds)Direct labor (7,690 hours)$37,843$7.0098,43218.759.00The predetermined manufacturing overhead rate is $12 per direct labor hour ($18.00 ÷ 1.5). It was computed from a mastermanufacturing overhead budget based on normal production of 7,800 direct labor hours (5,200 units) for the month. The masterbudget showed total variable overhead costs of $46,800 ($6.00 per hour) and total fixed overhead costs of $46,800 ($6.00 per hour).Actual costs for October in producing 5,200 units were as follows.9.00$43.75

Name: Please do not give solution in image format thanku Variable overheadFi
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Description: Please do not give solution in image format thanku Variable overheadFixed overheadTotal manufacturing costs70,200$231,775The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Rawmaterial

The overhead variance shows the difference between the applied and actual overhead on the basis of…

Business

Accounting

Variable overhead Fixed overhead Total manufacturing costs 70,200 Overhead controllable variance $ Overhead volume varianco 25,300 $231,775 The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, therefore, can be ignored. Compute the overhead controllable variance and the overhead volume variance.

Variable overhead Fixed overhead Total manufacturing costs 70,200 Overhead controllable variance $ Overhead volume varianco 25,300 $231,775 The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, therefore, can be ignored. Compute the overhead controllable variance and the overhead volume variance.

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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