Calculating the Total Overhead Variance Standish Company manufactures consumer products and provided the following information for the
Question:
Units produced.....................131,000
Standard direct labor hours per unit...............0.20
Standard variable overhead rate (per direct labor hour)......$3.40
Actual variable overhead costs.................$88,670
Actual hours worked....................26,350
Required:
1. Calculate the total variable overhead variance.
2. What if actual production had been 129,600 units? How would that affect the total variable overhead variance?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (16 reviews)
1 Total variable ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Cornerstones of Cost Management
ISBN: 978-1285751788
3rd edition
Authors: Don R. Hansen, Maryanne M. Mowen
Question Posted:
Students also viewed these Managerial Accounting questions
-
Calculating the Variable Overhead Spending and Efficiency Variances Refer to Cornerstone Exercise 9.6. Required: 1. Calculate the variable overhead spending variance using the formula approach. (If...
-
Xenold, Inc., manufactures and sells cooktops and ovens through three divisions: Home, Restaurant, and Specialty. Each division is evaluated as a prot center. Data for each division for last year are...
-
SkyBound Airlines provided the following information about its two operating divisions: Measuring performance using return on investment (ROI), which division performed better? a. The Cargo division,...
-
Accurate Job Costing must be done on three levels. Which of the following is not one of these levels? Tracking and controlling costs during jobs Tracking gross profit each month Filing records on...
-
What must a receiver do when entering into the communication process?
-
(G P) (H W) Identify the main operator in the following propositions.
-
Consider the multiple linear regression model fit to the baseball data in Problem 3.41. Problem 3.41 Consider the 2016 major league baseball data in Table B.22. While team ERA was useful in...
-
For what purposes are departmental reports useful to management?
-
1. Compute the activity rate for each activity using activity-based costing. 2. Compute overhead cost per unit for each of the two products using activity-based costing. 3. Determine product cost per...
-
1. Which aspect of the French revolution most disturbed commentators? 2. How would you align each of these writers on a spectrum running from extreme right to extreme left in politics? 3. How would...
-
Closing the Balances in the Variance Accounts at the End of the Year Yohan Company has the following balances in its direct materials and direct labor variance accounts at year-end: Unadjusted Cost...
-
Calculating the Fixed Overhead Spending and Volume Variances Standish Company manufactures consumer products and provided the following information for the month of February: Units...
-
The 2014 financial statements for Country Cousin Stores show total assets of $490,000, total liabilities of $290,000, net sales of $1,800,000, net income of $450,000, income from operations of...
-
What is the principal difference between a background task and a foreground task?
-
On January 1, Ball Corporation purchased shares of Leftwich Company common stock. a. Assume that the stock acquired by Ball represents \(15 \%\) of Leftwich's voting stock and that Ball classifies...
-
Use the financial statement effects template (with amounts and accounts) to record the following transactions involving investments in marketable securities accounted for using the equity method: a....
-
Describe the effect (if any) of the BITS and reliability schemes (a) (d), without appropriately disabling interrupts. How should interrupts be disabled? (a) CPU instruction set test (b) CRC...
-
Explain how time-driven activity-based costing (TDABC) differs from the other three methods.
-
Fixed costs are expenses that ________. A. Vary in response to changes in activity level B. Remain constant on a per-unit basis C. Increase on a per-unit basis as activity increases D. Remain...
-
What did Lennox gain by integrating their WMS, TMS, and labor management systems?
-
The controller of Willson Company has computed quality costs as a percentage of sales for the past five years (2009 was the first year the company implemented a quality improvement program). This...
-
Davis, Inc., had the following quality costs for the years ended December 31, 2012 and 2013: At the end of 2012, management decided to increase its investment in control costs by 50 percent for each...
-
At the end of 2013, Bing Pharmaceuticals began to implement an environmental quality management program. As a first step, it identified the following costs in its accounting records as...
-
4. Find the basis of R2 in which coordinates of the vector v = [2,-5] are (3, 1). 5. Find the basis of R3 in which coordinates of the vector v = [1,6,-4] are (1, 2, 4).
-
Draw a Venn diagram and use the given information to fill in the number of elements in each region. n(A)=24, n(B) = 17, n(AUB) = 32, n (A') = 15 Complete the Venn diagram. U X A B x = 0, y = 1, z=,...
-
9. Does this voting system having a Condorcet Candidate? If so, find it. Number of voters 14 15 2 1st choice A CB 2nd choice B B C 3rd choice C A A 10. Does this voting system having a Condorcet...
Study smarter with the SolutionInn App