Question: B) Calculate variable overhead spending variance if actual labour hours used are 260, standard variable overhead rate is $19.30 per direct labour hour and actual

B) Calculate variable overhead spending variance if actual labour hours used are 260, standard variable overhead rate is $19.30 per direct labour hour and actual variable overhead rate is $13.30 per direct labour hour. Also specify whether the variance is favorable or unfavorable. (3 marks) C) Explain the importance of standard Costing. (5 Marks) (300 words)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Suppose that a least squares regression yields the following estimate: where W is the hourly wage rate (in dollars) and A is the age (in years). A second regression from another group of workers...

Calculate variable overhead spending variance if actual labour hours used are 260, standard variable overhead rate is $19.30 per direct labour hour and actual variable overhead rate is $13.30 per...

QUESTION 5 (20 marks) 1. XY Inc. provides the following data for June 2019 when 13,000 Units are manufactured: Standard Material Cost (Per Unit) 6.20 kg @ $ 10.25/kg Actual Material Cost (Per Unit)...

QUESTION 4 (20 marks) A) Prepare the cash budget of ABACUS Inc. for the quarter October to December, based upon the following data and additional information. (14 marks) Month Sales ( $ ) Purchase...

1. XY Inc. provides the following data for June 2019 when 13,000 Units are manufactured: Standard Material Cost (Per Unit) 6.20 kg @ $ 10.25/kg Actual Material Cost (Per Unit) 6.85 kg @ $ 13.8/kg...

Calculate Variable Overhead Spending Variance if actual labor hours used are 360, standard variable overhead rate is $11.40 per direct labor hour and actual variable overhead rate is $10.30 per...

The Alpine Group, Inc. provides the following data for the June 2018, when 15,000 units are manufactured: Standard Material Cost (Per Unit) Actual Material Cost (Per Unit) Standard Labour Cost (Per...

XY Inc. provides the following data for June 2011 when 13,000 Units are manufactured: Standard Material Cost (Per Unit) 6.20 kg @ $ 10.25/kg Actual Material Cost (Per Unit) 6.85 kg @ $ 13.8/kg...

Using the following information, compute the variable overhead spending variance. Actual direct labor hours used 4,700 Units produced 1,500 Standard labor hours per unit produced 3 Budgeted variable...

Al-Starne wese Mandard costs and provides the following information che con to view the Womation Al-Star locaties matching had to production based on standard direct labor hours Al-Star reported the...

Suppose you work for a spacecraft manufacturer who produces x-vvIngs for Ine Resistance. Your boss would like an update on the budgets for the X-Wings, including details relating to variances for...

BCA Company was acquired by Farns Co. on December 14, 2021 for 4,000,000 Euros. The fair values of assets and liabilities are reflected above, in Euros. Since its acquisition on December 14, and...

Evaluate F. dr. where F(x, y, z) = -2y + 2xj + zk and C is the curve of the intersection of the plane y + z = 3 and the cylinder x + y = 4. (Orient C to be counterclockwise when viewed from above.)...

Under what circumstances would it be appropriate for a firm to use different costs of capital for its different operating divisions? If the overall firm WACC were used as the hurdle rate for all...

X-Ray Corporation received a $100,000 dividend from Yancey Corporation this year. X-Ray owns 10% of the Yanceys single class of stock. What tax issues should X-Ray consider with respect to its...

Describe the three types of controlled groups.

Jordan Corporation had sales in 2012 of $150,000, in 2013 of $180,000, and in 2014 of $225,000. The gross profit percentage of each year, in order, was 25%, 30%, and 35%. Past history has shown that...

During the first month of operation, Graham Expeditions recorded the following transactions. Describe what has happened in each of the transactions (a) through (k). J. D. Rakes, Capital J.D. Rakes,...

During the first month of operation, Graham Expeditions recorded the following transactions. Describe what has happened in each of the transactions (a) through(k). C. M. Graham C. M. Graham, Capital...

Southeastern Airlines's daily flight from Atlanta to Charlotte uses a Boeing 7 3 7 , with all - coach seating for 1 2 0 1 2 0 people. In the past, the airline has priced every seat at $ 1 3 6 1 3 6...

c. What steps can you take to help eliminate the stress?

b. Are there any aspects of the situation that are out of your control? Explain.

What is the scheduling pattern (optional): continuous, flighting, pulsing, or massing?