7TB MC Qu. 9-82 (Algo) Dill Company has a fixed overhead spending variance of...eBookReferences이HelpSave & ExitSubrDill Company has a fixed overhead spending variance of $5,700 unfavorable. During July, Dill budgeted production of 6,300 units, it actually produced 6,500 units, and it actually spent $80,400on fixed overhead. How much was budgeted fixed overhead?Multiple ChoiceOO$74,700$75,562$80,400$86,100

Detailed explanation: Budgeted Fixed Overhead = 80,400 actual fixed overhead spent - 5700…

Answered: 7 TB MC Qu. 9-82 (Algo) Dill Company…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 12PA: ABC Inc. spent a total of $48,000 on factory overhead. Of this, $28,000 was fixed overhead. ABC Inc....

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ABC Inc. spent a total of $48,000 on factory overhead. Of this, $28,000 was fixed overhead. ABC Inc. had budgeted $27,000 for fixed overhead. Actual machine hours were 5.000. Standard hours for units made were 4,800. The standard variable overhead rate was $4.10. What is the variable overhead rate variance?
Coe Parts applies fixed overhead at the rate of $6.82 per unit. Budgeted fixed overhead was $198,600. This month 28,240 units were produced, and actual fixed overhead was $193,490. Required: a. What are the fixed overhead price and production volume variances for Coe Parts? b. What was budgeted production for the month? Complete this question by entering your answers in the tabs below. Required A Required B Jhm What are the fixed over ad price and production volume variances for Coe Parts? Note: 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. Do not round your intermediate calculations. Round your final answers to the nearest dollar. Fixed overhead price variance Fixed overhead production volume variance Required A Required B >
8.Hithlum Inc. uses a standard cost system. Overhead cost information for product SK for the month of May is as follows: Total overhead cost incurred P12,600 Fixed overhead budgeted P 3,300 Total standard overhead rate per direct labor hour P 4.00 Variable overhead rate per direct labor hours P 3.00 Standard hours allowed for actual production 3,500What is the overall overhead variance?
ABC uses a standard cost system. Overhead cost information for Production for the month of December is as follows: Total actual overhead incurred P12,600 Fixed overhead budgeted P3,300 Total standard overhead rate per DLH P4 Variable overhead rate per DLH P3 Standard hours allowed for actual production 3,500 What is the overall or net overhead variance? State if favorable or unfavorable (e.g. 1000 favorable)
Required A Required B What was budgeted production for the month? Budgeted production units
At IT Company, maintenance cost is exclusively a variable cost that varies directly with machine-hours. The performance report for July showed that actual maintenance costs totaled P9,800 and that the associated spending variance was P200 unfavorable. If 8,000 machine hours were actually worked during July, the budgeted maintenance cost per machine-hour was: A.P1.20 B.P1.25 C.P1.275 D.P1.225
Coe Parts applies fixed overhead at the rate of $7.08 per unit. Budgeted fixed overhead was $216,800. This month 29,800 units were produced, and actual fixed overhead was $211,560. Required:a. What are the fixed overhead price and production volume variances for Coe Parts?b. What was budgeted production for the month? REQUIRED A. FIXED OVERHEAD PRICE VARIANCE ?????? ???? FIXED OVERHEAD PRODUCTION VOLUME VARIANCE ?????? ???? REQUIRED B BUDGETED PRODUCTION ???
Lee Company’s operations for April discussed the following data relating to direct labor: Actual cost P10,000 Rate variance (favorable) 1,000 Efficiency variance (unfavorable) 1,500 Standard cost P9,500 Actual direct labor hours for the month of April amounted to 2,000. What was the standard direct labor hourly rate? Select one: P4.75 P5.50 P4.50 P5.00
8. Great Inc. manufactures a single product. The following data relates to January 2018: Static Budget Actual 3,200 units 22,200 hours Production 3,500 units 20,300 hours $12,180 $45,675 Machine hours $9,560 $42,890 Variable overhead costs Fixed overhead costs What is the fixed overhead volume variance in January, assuming overhead is applied based on machine hours?
Total actual overhead incurred -12,600 Fixed overhead budgeted Total - 3,300 Total tandard overhead rate per DLH -4 Variable overhead rate per DLH -3 Standard hours allowed for actual production -3,500 IT Company uses a standard cost system. Overhead cost information for Product CO for the month of October is as follows: What is the overall or net overhead variance? A.P1,200 F B.P1,200 U C.P1,400 F D.P1,200 U
Calculating the Fixed Overhead Spending and Volume Variances Standish Company manufactures consumer products and provided the following information for the month of February: Units produced 131,000 Standard direct labor hours per unit 0.20 Standard fixed overhead rate (per direct labor hour) $2.50 Budgeted fixed overhead $65,000 Actual fixed overhead costs $68,300 Actual hours worked 26,350 Required: 1. Calculate the fixed overhead spending variance using the formula approach. $ Favorable Unfavorable 2. Calculate the volume variance using the formula approach. $ Favorable Unfavorable 3. What if 129,600 units had actually been produced in February? What impact would that have had? Indicate what the new variances would be below. Fixed Overhead Spending Variance $ Favorable Unfavorable Volume Variance $ Favorable Unfavorable
Q3. A company follows the system of standard costing. The records of the company reveal the following information for the month of May: Budgeted Actual Number of man-hours Number of working days 8000 8600 20 22 Overhead rate per hour { 1.00 Hours per unit of output 20 Fixed Overheads incurred {7,200 Number of units produced 450 units For the month of May, calculate the following variances for fixed overheads: (1) (ii) Overhead Cost variance Overhead Volume variance (iv) (v) (vi) Overhead Efficiency variance Overhead Capacity variance Overhead Budget variance Calendar variance

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