Menounos Manufacturing Co. uses standard costs. Standard costs and actual costs for direct labor and factory overhead

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Menounos Manufacturing Co. uses standard costs. Standard costs and actual costs for direct labor and factory overhead for the manufacture of 3,000 units during 20Y6 were as follows: image text in transcribed

Each unit requires 2.5 hours of direct labor.
Compute the:

a. variable factory overhead controllable variance.

b. fixed factory overhead volume variance.

c. total factory overhead cost variance.

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Financial And Managerial Accounting

ISBN: 9781337902663

15th Edition

Authors: Carl S. Warren, Jefferson P. Jones, William B. Tayler

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Question Posted: Feb 07, 2024 06:31 AM

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Menounos Manufacturing Co. uses standard costs. Standard costs and actual costs for direct labor and factory overhead

Question:

Direct labor Factory overhead Standard Costs 7,500 hours at $12.00 per hour Rates per direct labor hr., based on 100% of normal capacity of 8,000 direct labor hrs.: Variable cost, $2.20 Fixed cost, $0.90 Actual Costs 7,420 hours at $12.30 per hour $16,850 variable cost $7,200 fixed cost

Step by Step Answer:

a Variable Factory Overhead Controllable Variance b Actual Variable Factory Overhead 16850 16500 350 ...View the full answer

Financial And Managerial Accounting

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