Exercise 9A-1 (Algo) Fixed Overhead Variances [LO9-7] Primara Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-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 direct labor-hours (denominator level of activity) Actual direct labor-hours Standard direct labor-hours allowed for the actual output Required: 1. Compute the fixed portion of the predetermined overhead rate for the year. (Round Fixed portion of the predetermined overhead rate to 2 decimal places.) $ 473,600 $ 467,000 64,000 65,000 62,000 2. Compute the fixed overhead budget variance and volume variance. (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.) 1. Fixed portion of the predetermined overhead rate 2. Budget variance 2. Volume variance per DLH

Exercise 9A-1 (Algo) Fixed Overhead Variances [LO9-7] Primara Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-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 direct labor-hours (denominator level of activity) Actual direct labor-hours Standard direct labor-hours allowed for the actual output Required: 1. Compute the fixed portion of the predetermined overhead rate for the year. (Round Fixed portion of the predetermined overhead rate to 2 decimal places.) $ 473,600 $ 467,000 64,000 65,000 62,000 2. Compute the fixed overhead budget variance and volume variance. (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.) 1. Fixed portion of the predetermined overhead rate 2. Budget variance 2. Volume variance per DLH

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Description: Exercise 9A-1 (Algo) Fixed Overhead Variances [LO9-7]Primara Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-hoursallowed for the actual output of the period. Data concerning the mos

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

Chapter10: Standard Costing And Variance Analysis

Section: Chapter Questions

Problem 14MCQ: (Appendix 10A) Which of the following is true concerning labor variances that are not material in...

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(Appendix 10A) Which of the following is true concerning labor variances that are not material in amount? a. They are closed to Cost of Goods Sold. b. They are prorated among Work in Process, Finished Goods, and Cost of Goods Sold. c. They are prorated among Materials, Work in Process, Finished Goods, and Cost of Goods Sold. d. They are reported on the balance sheet at the end of the year. e. All of these.
Assume that a company uses a standard cost system and applies overhead to production based on direct labor-hours. It provided the following information for its most recent year: Total budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted direct labor-hours Actual direct labor-hours Standard direct labor-hours allowed for the actual output What is the fixed overhead volume variance? Multiple Choice O $20,000 U $20,000 F $9,000 U $9,000 F $ 300,000 $ 276,000 60,000 56,000 58, 200
Exercise 10A-1 (Algo) Fixed Overhead Variances [LO10-4] Primara Corporation applies overhead to products based on the standard direct labor-hours allowed for the actual output. Data concerning the most recent year appear below: Total budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted direct labor-hours (denominator level of activity) Actual direct labor-hours Standard direct labor-hours allowed for the actual output Required: 1. Compute the fixed portion of the predetermined overhead rate for the year. Note: Round Fixed portion of the predetermined overhead rate to 2 decimal places. 1. Fixed portion of the predetermined overhead rate 2. Budget variance 2. Volume variance $ 476,000 $ 471,500 2. Compute the fixed overhead budget variance and volume variance. Note: 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. per DLH…
Subject - Acounting The following data relate to direct labor costs for the current period: Line Item Description Value Standard costs 7,500 hours at $11.80 Actual costs 6,300 hours at $10.70 The direct labor rate variance is a. $21,090 unfavorable b. $6,930 favorable c. $21,090 favorable d. $14,160 favorable
Ch. 10-Caterpillar Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard machine-hours (MHs). The company has provided the following data for the most recent month: Budgeted level of activity Actual level of activity Standard variable manufacturing overhead rate Actual total variable manufacturing overhead Actual Variable Overhead Rate What was the variable overhead rate variance for the month? A) $1400 Unfavorable C) $980 Favorable OB) $2380 Favorable D) $1429 Favorable $ $ 57,120 $ 6.72 per MH 8300 8500 7.00 per MH MHs MHs
A company uses a standard costing system and applies overhead to production based on direct labor-hours. It provided the following information for its most recent year. $300,000 $276,000 60,000 56,000 56,500 Budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted direct labor-hours (denominator hours) Actual direct labor-hours Standard direct labor-hours al1lowed for actual output What is the fixed overhead volume variance? Multiple Cholce $20,000 F $17,500 U $20,000 U MacBook Air 吕口豐
Primara Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-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 direct labor-hours (denominator level of activity) Actual direct labor-hours Standard direct labor-hours allowed for the actual output $ 426,4e0 $ 420,400 52,ee0 53,000 50,000 Requlred: 1. Compute the fixed portion of the predetermined overhead rate for the year. (Round Flxed portion of the predetermIned overhead rate to 2 declmal places.) 2 Compute the fixed overhead budget variance and volume variance.. (Indicate the effect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero varlance.). Input ell amounts as positlve values.) 1. Fixed portion of the predetermined overhead rate per DLH 2. Budget variance Volume…
Question 3 DRS Company showed the following information for the year: Standard variable overhead rate (SVOR) per direct labor hour Standard hours (SH) allowed per unit Actual production in units Actual variable overhead costs | Actual direct labor hours RM3.75 4 15,000 RM222,816 57,200 a) Calculate the standard direct labor hours for actual production. b) Calculate the applied variable overhead. c) Calculate the total variable overhead variance.
ook int Print rences Primara Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-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 direct labor-hours (denominator level of activity) Actual direct labor-hours, Standard direct labor-hours allowed for the actual output $ 515,900 $ 509,000 1. Fixed portion of the predetermined overhead rate 2. Budget variance 2 Volume variance Saved 67,000 68,000 65,000 Required: 1. Compute the fixed portion of the predetermined overhead rate for the year. (Round Fixed portion of the predetermined overhead rate to 2 decimal places.) per DLH 2. Compute the fixed overhead budget variance and volume variance. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.).…
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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?
AAA Company uses the standard cost system. The following information on its direct labor costs are provided. Standard direct labor hours 75,000 72,500 P10,000 14,500 275,500 Actual direct labur hours Direct labor efficiency variance (favorable) Direct labor rate variance (favorable) Total payroll 12. What is AAA Company's actual direct labor rate? PO.20 b. РА.00 с. Р3.60 d. P3.80 AAA Company uses a standard cost system. Information for raw materials for Product RB for the month of October is as follows: Standard unit price Actual purchase price per unit Actual quantity purchased Actual quantity used Standard quantity allowed for actual production P1.60 P1.55 2,000 units 1,900 units 1,800 units 13. What is the material purchase price variance? a. P90 favorable b. P90 unfavorable c. P100 favorable d. P100 unfavorable Information on AAA Company's direct materials costs is as follows: 20,000 P40,000 P2.10 P3,000 Actual units of direct materials Actual direct materials cost Standard price…