Lamp Light Limited (LLL) manufactures lampshades. It applies varlable overhead on the basis of direct labor...
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Lamp Light Limited (LLL) manufactures lampshades. It applies varlable overhead on the basis of direct labor hours. Information from LLL's standard cost card follows: Standard Standard Standard Quantity Rate Unit Cost Variable manufacturing 8.6 $8.80 se.48 overhead During August, LLL had the following actual results: Units produced and sold 24, 8ee $ 9,470 15, 8ee Actual variable overhead Actual direct 1labor hours Required: Compute LLL's variable overhead rate variance. varlable overhead efficiency varlance, and over- or underapplied varlable overhead. (Do not round Intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (I.e., zero varlance).) Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance Lamp Light Limited (LLL) manufactures lampshades. It applies varlable overhead on the basis of direct labor hours. Information from LLL's standard cost card follows: Standard Standard Standard Quantity Rate Unit Cost Variable manufacturing 8.6 $8.80 se.48 overhead During August, LLL had the following actual results: Units produced and sold 24, 8ee $ 9,470 15, 8ee Actual variable overhead Actual direct 1labor hours Required: Compute LLL's variable overhead rate variance. varlable overhead efficiency varlance, and over- or underapplied varlable overhead. (Do not round Intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (I.e., zero varlance).) Variable Overhead Rate Variance Variable Overhead Efficiency Variance Variable Overhead Spending Variance
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Related Book For
Managerial Accounting
ISBN: 978-0078025518
2nd edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
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