QUESTION 10
Note the change in numbers from the previous problem.
Alpha company makes a single product and uses a standard costing system that applies overhead on the basis of direct labor hours. For the most recent period, the VOH spending variance was $100,000 F, and the VOH Efficiency Variance was $50,000 U. The company budgeted making 4,800 units at 3.5 hours each with $924,000 of VOH. The company actually produced 4,000 units. What was the actual VOH?
(Please round to nearest dollar at the end of your calculations)
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QUESTION 10 Note the change in numbers from the previous problem. Alpha company makes a single...
QUESTION 7 Note the change in numbers from the previous problem. Alpha company makes a single product and uses a standard costing system that applies overhead on the basis of direct labor hours. For the most recent period, the VOH spending variance was $130,000 F, and the VOH Efficiency Variance was $80,000 U. The company budgeted making 4,800 units at 3.5 hours each with $924,000 of VOH. The company actually produced 3,000 units. What was the actual VOH? (Please round...
QUESTION 6 Note the change in numbers from the previous problem. Alpha company makes a single product and uses a standard costing system that applies overhead on the basis of direct labor hours. For the most recent period, the VOH spending variance was $60,000 F, and the VOH Efficiency Variance was $50,000 U. The company budgeted making 4,800 units at 3.5 hours each with $924,000 of VOH. The company actually produced 3,000 units. What was the actual VOH? (Please round...
QUESTION 2 Alpha company makes a single product and uses a standard costing system that applies overhead on the basis of direct labor hours. For the most recent period, the VOH spending variance was $80,000 F, and the VOH Efficiency Variance was $100,000 U. The company budgeted making 4,800 units at 3.5 hours each with $924,000 of VOH. The company actually produced 4,000 units. How many direct labor hours were used? (Please round to nearest whole direct labor hour at...
QUESTION 7 Likert company manufactures extremely accurate scales. They use a standard costing system. Last year the company projected that 290,000 scales would be produced. When Likert company closed out manufacturing overhead, they recorded a $116,000 debit to the FOH Budget Variance and a $135,000 credit to the FOH Volume Variance. Likert company budgeted $2,409,000 of fixed overhead. What was the actual amount of fixed overhead? QUESTION 8 If a firm uses direct labor hours as its overhead driver, a...
QUESTION 3 Note the change in numbers from the previous problem. Druid Company makes a single product and uses a standard costing system that applies overhead on the basis of direct labor hours. They recently used 2,000 labor hours to produce 300 units. Their static budget indicated expectations of 500 units, 3,000 DLH and $60,000 in variable overhead. Actual VOH totaled $30,000. What was the variable overhead efficiency variance? Please indicate favorable variances with an "T and unfavorable variances with...
QUESTION 4 ABC Company uses a standard absorption costing system that allocates overhead on the basis of direct labor hours. Here is their Statement of Gross Margin: Statement of Gross Margin Standard Revenue 1,000,000 Sales price variance (30,000) Sales volume variance 60,000 Net revenue 1,030,000 CGS @ Standard 700,000 Total direct labor variance 30,000 Direct materials price variance (50,000) Direct materials quantity variance 40,000 Fixed overhead budget variance 50,000 Fixed overhead volume variance (100,000) Variable overhead spending variance 20,000 Variable...
QUESTION 1 Note the change in numbers from the previous question. Jordan Company produces basketballs and uses a standard costing system. Budgeted fixed overhead was $293,000. Rent changed during the year, causing actual fixed overhead to be $262,000. Jordan Company applies overhead on the basis of DLH. They projected 1,003,000 basketballs would be produced during the year. They actually produced 1,241,000 basketballs. The standard is 1DLH per basketball. They actually used 1DLH per basketball. What is the fixed overhead budget...
QUESTION 1 Jordan Company produces basketballs and uses a standard costing system. Budgeted fixed overhead was $300,000. Rent changed during the year, causing actual fixed overhead to be $269,000. Jordan Company applies overhead on the basis of DLH. They projected 1,000,000 basketballs would be produced during the year. They actually produced 1,267,000 basketballs. The standard is 1 DLH/basketball. They actually used 1 DLH/basketball. What is the fixed overhead volume variance? (Please indicate overapplied fixed overhead with the letter "o" and...
QUESTION 8 Druid Company makes a single product and uses a standard costing system that applies overhead on the basis of direct labor hours. They recently used 2,000 labor hours to produce 300 units. Their static budget indicated expectations of 500 units, 2,000 DLH and $60,000 in variable overhead. Actual VOH totaled $30,000. What was the variable overhead spending variance? Please indicate favorable variances with an "T and unfavorable variances with a "u" (Round to the nearest dollar at the...
Druid Company makes a single product and uses a standard costing system that applies overhead on the basis of direct labor hours. They recently used 2,000 labor hours to produce 400 units. Their static budget indicated expectations of 500 units, 2,000 DLH and $60,000 in variable overhead. Actual VOH totaled $40,000. What was the variable overhead efficiency variance? Please indicate favorable variances with an "f" and unfavorable variances with a "u" (Round to the nearest dollar at the end of...