Wetherbee Tech Services (WTS) is a chain of computer maintenance technicians for households and small businesses. The following data are available for last year's services: WTS recorded 120,200 tech calls last year. It had budgeted 125,400 calls, averaging 90 minutes each. • Standard variable labor and support costs per tech call were as follows: Direct IT specialist services: 90 minutes at $54 per hour Variable support staff, supplies, and overhead: 30 minutes at $24 per hour Fixed overhead costs: Annual budget $4,140,400 Fixed overhead is applied at the rate of $36.00 per call. Actual tech service call costs: Direct IT specialist services: 120,200 calls averaging 84 minutes at $56.00 per hour Variable support staff, supplies, and overhead: averaging 40 minutes per call at $22.50 per hour x 120,200 calls Fixed overhead Required: a. Prepare a cost variance analysis for each variable cost for last year. b. Prepare a fixed overhead cost variance analysis. Complete this question by entering your answers in the tabs below. $81 12 $ 9,423,680 1,803,000 4,388,000

Q: Define the term line positions.

A: Employees in the line positions are primarily responsible for achieving the goals of the…

Q: Define Assigning.

A: Assigning is a process of assignment. Assignment means a transfer of a right to receive a…

Q: Explain IO and PO Strips?

A: Interest only (IO) strips are a financial product shaped by unraveling the principal and interest…

Q: What are IO and PO strips?

A: Mortgage-backed securities: The financial instruments intended in raising investment which is…

Q: Explain Destination principle in relation to VAT.

A: The destination principle is a principle in Value Added Tax (VAT) that determines the taxation of…

Q: Different ___________ are separated by definite visibleboundaries

A: The answer is provided as follows:

Q: Define Single-step format

A: Income statement: The financial statement which reports revenues and expenses from business…

Q: In a data visualization, the vertical axis typically shows __________.   Multiple Choice   values…

A: A column chart will include data labels along the horizontal (X) axis with measured metrics or…

Q: What is a proxy statement? What information does it provide?

A: Definition:   Proxy statement: Proxy statement is a statement required for seeking shareholders’…

Q: Define management by exception.

A: Management by exceptions: Management by exceptions determines that the managers should not focus if…

Q: Define Double-entry system.

A: Double entry system: Double entry system is a way of accounting or bookkeeping which implies that…

Q: Define characteristic line

A: Characteristic line is a graphical representation of alpha (α) where alpha is the difference between…

Q: Identify the minimum cardinality of any REA diagram relationship. O or 1. O or N. 1 or N. None of…

A: Cardinality describes the nature of the relationship between two entities. It refers to the number…

Q: How do CDOs differ from CMBSs?

A: Difference between CDO and CMBS is that CMBS is a subset of CDO. In CMBS the underlying assets are…

Q: what is Reference control ?

A: I assumed as a question, as what is meant by the reference  to cost control?

Q: Explain the meaning of withholding at source

A: In finance withholding at source pertains to the domain of taxation. This is found in many countries…

Q: Define call protection

A: A financial instrument that does not affect the ownership of the common shareholders or management…

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.