Primm Company produced 2,500 units of product that required three standard hours per unit. The standard fixed
Question:
Primm Company produced 2,500 units of product that required three standard hours per unit. The standard fixed overhead cost per unit is $1.30 per hour at 7,000 hours, which is 100% of normal capacity. Determine the fixed factory overhead volume variance.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
650 favor...View the full answer
Answered By
Mahesh G
I have more than 7 years of experience in teaching physics, mathematics and python programming to more than 600 students including both online and offline tutoring.
I follow the following 7 step fundamental approach towards tutoring.
1. Curiosity, scope, enlightenment of the topic in hand.
2. Problem Definitions and elaboration.
3. Requisite mathematics, analytical abilities and quantitative
aptitude.
4. Preparing Algorithms for problem statement.
5. Concepts with analogies and building algorithm.
6. Introspection and improvising.
7. Daily class wise Cheat sheets(its not cheating) for consolidation.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Financial and Managerial Accounting Using Excel for Success
ISBN: 978-1111993979
1st edition
Authors: James Reeve, Carl S. Warren, Jonathan Duchac
Question Posted:
Students also viewed these Business questions
-
Dvorak Company produced 1,000 units of product that required three standard hours per unit. The standard variable overhead cost per unit is $ 1.40 per hour. The actual variable factory overhead was $...
-
Dvorak Company produced 1,000 units of product that required three standard hours per unit. The standard fixed overhead cost per unit is $ 0.60 per hour at 3,500 hours, which is 100% of normal...
-
McLean Company produced 2,500 units of product that required two standard hours per unit. The standard fixed overhead cost per unit is $1.30 per hour at 4,600 hours, which is 100% of normal capacity....
-
Calculate the following ratios for both 2021 and 2020 years: current ratio, quick ratio, debt to equity ratio, debt ratio, gross profit ratio, net profit ratio, return on equity, return on total...
-
Sometimes compensation packages include bonuses designed to provide performance incentives to employees. The difficulty a bonus can cause accountants is not an accounting problem, but a math problem....
-
A hydraulic lift in a garage has two pistons: a small one of cross-sectional area 4.00 cm2 and a large one of cross-sectional area 250 cm2. (a) If this lift is designed to raise a 3500-kg car, what...
-
Choose the correct one: (a) \(S_{\mathrm{s}}>S_{\mathrm{l}}>S_{\mathrm{g}}\) (b) \(S_{\mathrm{s}} S_{\mathrm{s}}\) (d) \(S_{\mathrm{s}}>S_{1}
-
Required Use the following information to prepare a multistep income statement and a balance sheet for Sherman Equipment Co. for 2016. Salaries Expense$ ............. 69,000 Common Stock...
-
Mr. and Mrs. Omarov are just married. They have decided to buy an apartment in Almaty. Mr. and Mrs. Omarov made a research and fell in love with a 2-bedroom apartment that costs KZT 35 million. To...
-
Jim Nelson, owner of Hula Hut Burger has contacted your accounting firm to review his fixed asset records. Hula Hut Burger is the home of the tastiest burger in the world and specializes on serving...
-
Yukon Coat Company makes womens and mens coats. Both products require filler and lining material. The following planning information has been made available: Yukon Coat does not expect there to be...
-
Young Company produced 500 units of product that required 2.5 standard hours per unit. The standard fixed overhead cost per unit is $0.30 per hour at 1,500 hours, which is 100% of normal capacity....
-
In February 2021, Culverson Company began developing a new software package to be sold to customers. The software allows people to enter health information and daily eating and exercise habits to...
-
Q1. During a race on level ground, Andrea runs with an average velocity of 6.0 m/s to the east, what is Andrea's displacement after 137 s? Q2. Heather and Matthew walk with an average velocity of...
-
If Joe rides his bicycle in a straight line for 15 minutes with an average velocity of 12.5 km/hr south, how far has he ridden?
-
3. A Corporation issues 10,000 shares of $10 par value common stock for $150,000. Prepare the journal entry to record the issuance of this stock. Account Title Debit Credit
-
OP Pie Company makes dessert pies for national fast food chains. OP Pie Company is considering using ABC costing and has the following activity cost pools and information av Activities Material...
-
Bond Discount, Entries for Bonds Payable Transactions On July 1, Year 1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $2,100,000 of 7-year, 10% bonds at a market...
-
Why do organizations still have information deficiency problems?
-
Vectors are drawn from the center of a regular n-sided polygon in the plane to the vertices of the polygon. Show that the sum of the vectors is zero.
-
From the following list of selected items taken from the records of Hoosier Appliance Service as of a specific date, identify those that would appear on the balance sheet: 1. Accounts Receivable 2....
-
The revenues and expenses of Escape Travel Service for the year ended November 30, 2012, are listed below. Fees earned.......................................$942,500 Office...
-
Determine the missing amount for each of the following: = Liabilities + Stockholders' (Owners') Equity = $150,000 Assets . + $450,000 b. $275,000 50,000 C. 615,000 = 190,000 +
-
Total Labor- Square Feet of Department Hours Space Occupied Number of Employees Machine- Hours Direct Labor- Hours Personnel 16,000 12,400 22 Custodial Services 8,200 3,100 49 Maintenance 14,300...
-
6. Given the Venn Diagram, find (AUB)NC A B a W b Y N X C C
-
Prepare one-page description of the company and a one-page description of the project. In the project description, please list all the key stakeholders who will attend the project kickoff meeting....
Study smarter with the SolutionInn App