Required information [The following information applies to the questions displayed below.] Alvarez Company for the current period shows a $22.000 favorable volume variance and a $59,000 unfavorable controllable variance. Standard overhead applied for the period is $233,000. (a) What is the actual total overhead cost incurred for the period? (b) What is the total overhead variance and is it favorable or unfavorable? a. Actual total overhead b. Total overhead variance

Required information [The following information applies to the questions displayed below.] Alvarez Company for the current period shows a $22.000 favorable volume variance and a $59,000 unfavorable controllable variance. Standard overhead applied for the period is $233,000. (a) What is the actual total overhead cost incurred for the period? (b) What is the total overhead variance and is it favorable or unfavorable? a. Actual total overhead b. Total overhead variance

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Description: Required information[The following information applies to the questions displayed below.]Alvarez Company for the current period shows a $22,000 favorable volume variance and a $59,000 unfavorablecontrollable variance. Standard overhead applied for t

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter23: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 9DQ: At the end of the period, the factory overhead account has a credit balance of 10,000. (a) Is the...

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At the end of the period, the factory overhead account has a credit balance of 10,000. (a) Is the total factory cost variance favorable or unfavorable? (b) Are the controllable and volume variances favorable or unfavorable?
Reddy Corporation has collected the following data for the month or June: What is the variable overhead efficiency variance?
Primara Corporation has a standard costing system in which it applies overhead to products on the basis of the standard direct labour- hours allowed for the actual output of the period. Data concerning the most recent year appear below: Total budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted standard direct labour-hours (denominator level of activity) Actual direct labour-hours Standard direct labour-hours allowed for the actual output $ 500,000 $ 508,000 50,000 54,000 52,000 Required: 1. Compute the fixed portion of the predetermined overhead rate for the year. Predetermined overhead rate per DLH
Required information [The following information applies to the questions displayed below.] Antuan Company set the following standard costs per unit for its product. Direct materials (3.0 pounds @ $4.00 per pound) Direct labor (1.8 hours @ $12.00 per hour) $ 12.00 21.60 33.30 Overhead (1.8 hours @ $18.50 per hour) Standard cost per unit $ 66.90 The standard overhead rate ($18.50 per direct labor hour) is based on a predicted activity level of 75% of the factory's capacity of 20,000 units per month. Following are the company's budgeted overhead costs per month at the 75% capacity level. Overhead Budget (75% Capacity) Variable overhead costs Indirect materials $ 15,000 Indirect labor 75,000 Power 15,000 Maintenance 30,000 135,000 Total variable overhead costs Fixed overhead costs Depreciation-Building 24,000 70,000 Depreciation-Machinery Taxes and insurance 16,000 Supervisory salaries 254,500 Total fixed overhead costs 364,500
Derr Company reports the following. Compute (a) controllable variance, (b) volume variance, and (c) total overhead. Actual total overhead $ 1,120 Budgeted (flexible) overhead at units produced Standard overhead applied 800 1,040 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute controllable variance. (Indicate the effect of the variance by selecting or no variance. Controllable Variance Controllable variance Required 2 >
A company shows a $2,520 unfavorable volume variance, a $6,280 favorable controllable variance, and a $36,500 standard overhead applied. a. Calculate the actual total overhead cost incurred. b. Calculate the total overhead variance. Indicate whether it is favorable or unfavorable. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. a. Actual total overhead b. Overhead variance
Show transcribed image text 15.What activity variances would Adger report with respect to each of its expenses? (Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and None for no effect (i.e., zero variance). Input all amounts as positive values.) [The following information applies to the questions displayed below.] Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results for May as shown below: When preparing its planning budget the company estimated that it would serve 30 customers per month; however, during May the company actually served 35 customers.
Derr Company reports the following. Compute (a) controllable variance, (b) volume variance, and (c) total overhead Actual total overhead Budgeted (flexible) overhead at units produced Standard overhead applied $ 1,120 800 1,040 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute total overhead variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Total Overhead Variance Overhead variance < Required 2
For each of the following independent cases, fill in the missing amounts in the table: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Case A B с D E T Direct Labor Rate Direct Labor Efficiency Direct Labor Spending Variance Variance Variance $ $ $ 1,350 U 1,400 F 1,600 F U U 1,250 U $ $ 5A5A5A $ $ 2,400 F U |F 1,100 U 1,700 F 1,750 U $ $ $ $ 2,300 U 3,000 F 3,700 U 2,550 U EU
Calculate the Variable overhead variances and prepare an operating statement for the month endedJune 2015 as per the tables provided below. Variable overhead variances £ Favourable (F)/ Adverse (A) Variable overhead rate variance: Variable overhead efficiency variance: Total Variable overhead variance Operating Statement (OP): Standard OP Variances Actual OP £ £ £ £ £ Sales Direct materials Direct labour Variable overheads Total variable expenses Contribution
Required information [The following information applies to the questions displayed below.] AirPro Corporation reports the following for this period. Actual total overhead Standard overhead applied Budgeted (flexible) variable overhead rate Budgeted fixed overhead Predicted activity level Actual activity level Answer is complete but not entirely correct. Standard overhead applied Budgeted (flexible) overhead Volume variance Volume Variance ✓ S $ Compute the volume variance and identify it as favorable or unfavorable. $ $ 28,525 $ 31,620 28,525 X 12,600 x (2,400) Unfavorable $ 2.10 per unit $ 12,600 12,600 units 10,200 units
Rexford Components shows the following overhead information for the current period: Actual overhead incurred $ 105,840 , 2/3 of which is variable Budgeted fixed overhead $ 31,104 Standard variable overhead rate per direct labor-hour $ 27 Standard hours allowed for actual production 2,820 hours Actual labor-hours used 2,640 hours Required: What are the variable overhead price and efficiency variances and fixed overhead price variance? (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)