Alvarado Company produced 15,400 units of product that required 4 standard direct labor hours per unit. The standard variable overhead cost per unit is $1.00 per direct labor hour. The actual variable factory overhead was $50,830. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. X Open spreadsheet Determine the variable factory overhead controllable variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Favorable

Alvarado Company produced 15,400 units of product that required 4 standard direct labor hours per unit. The standard variable overhead cost per unit is $1.00 per direct labor hour. The actual variable factory overhead was $50,830. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. X Open spreadsheet Determine the variable factory overhead controllable variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Favorable

Name: Factory Overhead Controllable VarianceAlvarado Company produced 15,40
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Description: Factory Overhead Controllable VarianceAlvarado Company produced 15,400 units of product that required 4 standard direct labor hours per unit. The standard variableoverhead cost per unit is $1.00 per direct labor hour. The actual variable factory ove

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter3: Cost Behavior And Cost Forecasting

Section: Chapter Questions

Problem 55E: (Appendix 3A) Method of Least Squares Using Computer Spreadsheet Program The controller for Beckham...

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Scattergraph method Using the data in P4-2 and a piece of graph paper: 1. Plot the data points on the graph and draw a line by visual inspection, indicating the trend shown by the data points. 2. Determine the variable cost per unit and the total fixed cost from the information on the graph. 3. Determine the variable cost to be charged to the product for the year. 4. Determine the fixed cost to be charged to factory overhead for the year. 5. Do these answers agree with the answers to P4-2? Why or why not?
Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2. Determine the cost to be charged to the product for the year. 3. Determine the cost to be charged to factory overhead for the year. 4. Determine the plotted data points using Chart Wizard. 5. Determine R2. 6. How do these solutions compare to the solutions in P4-2 and P4-3? 7. What does R2 tell you about this cost model?
(Appendix 3A) Method of Least Squares Using Computer Spreadsheet Program The controller for Beckham Company believes that the number of direct labor hours is associated with overhead cost. He collected the following data on the number of direct labor hours and associated factory overhead cost for the months of January through August. Required: 1. Using a computer spreadsheet program such as Excel, run a regression on these data. Print out your results. 2. Using your results from Requirement 1, write the cost formula for overhead cost. (Note: Round the fixed cost to the nearest dollar and the variable rate to the nearest cent.) 3. CONCEPTUAL CONNECTION What is R2 based on your results? Do you think that the number of direct labor hours is a good predictor of factory overhead cost? 4. Assuming that expected September direct labor hours are 700, what is expected factory overhead cost using the cost formula in Requirement 2?
Using simple regression to estimate factory overhead, an internal auditor finds that the line of best fit intersects at the y-axis at $5,000 for overhead allocation. The slope of the line is 0.30. The dependent variable, represented by factory wages, amounts to $900,000 for the month. What is the estimated amount of factory overhead to be allocated for the month? Multiple Choice $180,000 $5,000 $905,000 $275,000 some other answer
Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a standard hourly rate of $20.00 per hour. 15, 800 units used 63,000 hours at an hourly rate of $19.65 per hour. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet What is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance $fill in the blank 2 b. Direct labor time variance $fill in the blank 4 c. Direct labor cost variance $fill in the blank 6
Build a spreadsheet: Construct and excel spreadsheet to solve all of the preceding requirements. Show how both cost schedules and the income statement will change if raw material purchases amounted to $190,000 and indirect labor was $20,000.
For a simple regression analysis model that is used to allocate factory overhead, an internal auditor finds that the intersection of the line of best fit for the overhead allocation with the y-axis is $14,000. The slope of the line is 0.2. The independent variable, factory wages, amounts to $810,000 for the month. What is the estimated amount of factory overhead to be allocated for the month? Multiple Choice $289,400. $162.000. $68,000. $88,000.
Factory overhead controllable variance Bellingham Company produced 15,400 units of product that required 4 standard direct labor hours per unit. The standard variable overhead cost per unit is $0.90 per direct labor hour. The actual variable factory overhead was $52,850. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Determine the variable factory overhead controllable variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
Would you like to set Microsoft Edge as your default browser? Set as default of 5 Q ACtIvity 2: The following data are from the costing records of ABC Ltd. in respect of Job No. 14: Materials used BD. 2500 Direct Wages: Department A - 30 hours at BD. 6 per hour Department B - 50 hours at BD. 5 per hour Department C- 20 hours at BD. 2 per hour Overhead for these three departments were estimated as follows: Variable overheads: Department A - BD. 10000 for 2000 Direct labour hours to Department B - BD. 60000 for 3000 Direct labour hours emai Department c - BD. 80000 for 2000 Direct labour hours Fixed overheads: BD7 for 100 working hours from You are required to calculate the total cost of the above Job No.14 using job-order costing system a qu as well the price for the job to give a profit of 20% of sales. bne-tim Darticulare 888-888-8888 Ta
Cost Flow Relationships The following information is available for the first year of operations of Idgie Inc., a manufacturer of fabricating equipment: $1,150,100 310,500 103,500 42,600 19,600 586,600 Total manufacturing costs for the period 1,269,700 Materials inventory, end of period 42,600 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Sales Gross profit Indirect labor Indirect materials Other factory overhead Materials purchased X Open spreadsheet Using the above information, determine the following amounts: a. Cost of goods sold 839,600 501,400 264,400 X b. Direct materials cost c. Direct labor cost $
eBook Show Me How Office 365 Question Content Area Direct materials variances Bellingham Company produces a product that requires 2.3 standard pounds per unit. The standard price is $3.55 per pound. 15,900 units used 35,900 pounds, which were purchased at $3.70 per pound. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet What is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance $ fill in the blank 2 b. Direct materials quantity variance $ fill in the blank 4 c. Direct materials cost variance $
ACTUAL Direct Materials Direct Labor Summary Mat. Req. No. Description Amount Time Ticket No. Description Amount Item Amount Direct Materials 132 360 meters at $32 H9 18 hours at $19 Direct Labor 134 50 meters at $32 H12 18 hours at $19 Factory Overhead Total Total Total Cost Feedback V Check My Work 1 & 2. Include the estimated and actual direct materials and direct labor. Include the estimated and applied factory overhead. What is the best explanation for the variances between actual costs and estimated costs. For this purpose, assume that the additional meters of material used in the job were spoiled, the factory overhead rate has proven to be satisfactory, and an inexperienced employee performed the work. a. The direct materials cost exceeded the estimate by $40 because 2 meters of materials were spoiled. b. Management didn't provide enough direction to complete tasks on budget. c. The direct materials cost exceeded the estimate by $320 because 10 meters of materials were spoiled.…