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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
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Variable overhead Fixed overhead Total manufacturing costs 70,200 $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. Overhead controllable variance $ Overhead volume variance 25,300 Compute the overhead controllable variance and the overhead volume variance. $ to
Transcribed Image Text:Variable overhead Fixed overhead Total manufacturing costs 70,200 $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. Overhead controllable variance $ Overhead volume variance 25,300 Compute 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 pound Direct labor-1.5 hours at $12.50 per hour Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit Direct materials (5,330 pounds) Direct labor (7,690 hours) $37,843 $7.00 98,432 18.75 9.00 The predetermined manufacturing overhead rate is $12 per direct labor hour ($18.00 ÷ 1.5). It was computed from a master manufacturing overhead budget based on normal production of 7,800 direct labor hours (5,200 units) for the month. The master budget 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
Transcribed Image Text:Swifty Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials-1 pound plastic at $7 per pound Direct labor-1.5 hours at $12.50 per hour Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit Direct materials (5,330 pounds) Direct labor (7,690 hours) $37,843 $7.00 98,432 18.75 9.00 The predetermined manufacturing overhead rate is $12 per direct labor hour ($18.00 ÷ 1.5). It was computed from a master manufacturing overhead budget based on normal production of 7,800 direct labor hours (5,200 units) for the month. The master budget 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
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