XYZ company produces a unit where delivery of its units to customers are related with all of the overheads.Computer expenditure and efficiency variance-ABC method. Budget: Overheads=4,000 Output =2,000 units Deliveries=20 Actual: Overheads =3,900 Output =2,100 units Deliveries to customers =19

XYZ company produces a unit where delivery of its units to customers are related with all of the overheads.Computer expenditure and efficiency variance-ABC method. Budget: Overheads=4,000 Output =2,000 units Deliveries=20 Actual: Overheads =3,900 Output =2,100 units Deliveries to customers =19

Name: XYZ company produces a unit where delivery of its units to customers a
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Description: XYZ company produces a unit where delivery of its units to customers are related with all of the overheads.Computer expenditure and efficiency variance-ABC method.Budget:Overheads=4,000Output =2,000 unitsDeliveries=20Actual:Overheads =3,900Output =2,

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 10EA: ThingOne Company has the following information available for the past year. They use machine hours...

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company produces a unit where delivery of units to its customers are related with all overheads. Compute expenditure and efficiency variance-ABC method Budget: Overheads=4,000 Output=2,000 units Deliveries-customer=20 Actual: Overheads=3,900 Output=2,100 units Deliveries-customer=19
Best, Inc. uses a standard cost system and provides the following information. (Click the icon to view the information.) variable overhead, $3,800; actual fixed overhead, $3, 500; actual direct labor hours, 1,400. Read the requirements. Data table Requirement 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and favorable (F) or unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standardco \table [[,, Formula,Variance], [VOH cost variance, = , 1 = , ], [VOH efficiency variance, =,1 =, 0
A company reports the following Information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced AH = Actual Hours SH - Standard Hours AR = Actual Rate SR Standard Rate = 59,000 $ 16 $ 14 60,100 Compute the direct labor rate and efficiency variances and Identify each as favorable or unfavorable. Actual Cost Standard Cost
A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced ! AH = Actual Hours SH= Standard Hours AR= Actual Rate SR Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Q F1 Actual Cost @ 2 W F2 # 3 E 80 F3 $ $ 4 0 Ơ F4 R $ % 5 0 0 * DII 8 F8 Standard Cost ( 9 F9 ) U I O F1
You are provided with the following information. Direct materials Direct labor Variable manufacturing overhead Actual results: Actual output Actual variable manufacturing overhead cost $ Inputs Actual direct materials cost Actual direct labor cost Actual Quantity 8,050 Required: Use the information above to calculate the variances. Note: Use ABS() formula for variances. Actual Hours Actual Hours Actual Quantity 8,050 pounds 1,420 hours Actual Price Actual Rate Standard Quantity 2.9 pounds Actual Rate 0.65 hours 0.65 hours 2,420 units 9,060 $ su $ $ in is in $ $ Standard Price 4.90 22.30 per hour 6.19 per hour Actual Price 4.30 per pound 21.65 per hour Actual Quantity Actual Hours per pound Direct Materials Actual Hours Direct Labor Variable Overhead Standard Price Standard Rate Standard Rate Standard Quantity Standard Hours Standard Hours Standard Price Standard Rate Standard Rate
Cricket Inc. uses a standard cost accounting system and applies manufacturing overhead based on machine hours. The machine hour quantity standard is 25 hours per unit. Here are data regarding the current year: Units produced Manufacturing overhead costs: • Fixed overhead Variable overhead Total overhead . B O Actual machine hours O Standard machine hours allowed O Standard cost allowed O No additional information is required Planning budget 1,200 units What additional information is required to compute both the variable manufacturing overhead rate and efficiency variances? O None of the above $1,414,500 $1,728,000 $3,142,500 Actual results 1,056 units $1,460,000 $1,621,600 $3,081,600
The following information relating to a company's overhead costs is available. Budgeted fixed overhead rate per machine hour Actual variable overhead Budgeted variable overhead rate per machine hour Actual fixed overhead Budgeted hours allowed for actual output achieved Based on this information, the total overhead variance is: Multiple Choice O O $69,000 favorable. $112,000 favorable. $43,000 unfavorable. $112,000 unfavorable. $43,000 favorable. $ 1.50 $ 99,000 $ 4.00 $ 20,000 42,000
A company, which uses standard costing, manufactures a single product with the following cost card: Standard Direct Labor Hours allowed per unit of product 4.5 DLHS Standard Direct Labor Rate Selected results for the most recent period are: Budgeted Production Actual Production Actual Direct Labor Cost Actual Direct Labor Hours Labor Rate Variance Labor Spending Variance What is the Labor Rate Variance? 2,200 units 2,500 units $ 125,000 S 11,700 hours ? 4,150 Favorable ?per DLH
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Compute Budgeted fixed manufacturing overhead costs per machine-hour
With the information provided below, find out the actual production: Quarter budgeted fixed overheads = 4,20,000 Budgeted production = 30,000 units Fixed overhead cost was over absorbed by 16,000 Fixed overhead expenditure variance= 30,000 (F) The firm was using absorption costing.
Variance Analysis for Decision Making Bronfenbrenner Co. uses a standard cost system for its single product in which variable overhead is applied on the basis of direct labor hours. The following information is given: Standard costs per unit: Raw materials (1.5 grams at $16 per gram) ............................ $24.00 Direct labor (0.75 hours at $8 per hour).................................. $6.00 Variable overhead (0.75 hours at $3 per hour)........................ $2.25 Actual experience for current year: Units produced ........................................................................ 22,400 units Purchases of raw materials (21,000 grams at $17 per gram) .. $357,000 Raw materials used.................................................................. 33,400 grams Direct labor (16,750 hours at $8 per hour).............................. $134,000 Variable overhead cost incurred.............................................. $48,575 Required: Compute the following variances for raw…