Question: See images below. blue boxes are where data is input, I already made guesses so there is information in there already Calgary Paper Company produces

See images below. blue boxes are where data is input, I already made guesses so there is information in there already

See images below. blue boxes are where data is input, I alreadymade guesses so there is information in there already Calgary Paper Companyproduces paper for photocopiers. The company has developed standard overhead rates based

Calgary Paper Company produces paper for photocopiers. The company has developed standard overhead rates based on a monthly capacity of180,000 direct-labor hours as follows: Standard costs per unit (one box of paper): Variable overhead {2 directlabor hours B $3 per hour) 5 6 Fixed overhead (2 direct-labor hours E $5 per hour) 10 Total $16 During April, 90,000 units were scheduled for production; however, only 80,000 units were actually produced. The following data relate to April. 1. Actual direct-labor cost incurred was $1,567,500 for 165,000 actual hours of work. 2. Actual overhead incurred totaled $1,371,500, of which $511,500 was variable and $860,000 was fixed. Required: Prepare two exhibits similar to Exhibit 11-6 and Exhibit 11-8 in the chapter, which show the following variances. State whether each variance is favorable or unfavorable, where appropriate. 1. Variable-overhead spending variance. 2. Variable-overhead efciency variance. 3. Fixed-overhead budget variance. 4. Fixed-overhead volume variance. Variable-Overhead Spending And Efficiency Variances (Hours = Direct-Labor Hours) (1) (2) (3) (4) Actual Variable Overhead Projected Variable Overhead Flexible Budget: Variable Overhead Variable Overhead Applied To Work-In- Process Actual Actual Rate Standard Standard Standard X Standard Allowed Standard Allowed X Qty (AQ) X (AVR) Actual Qty (AQ) Rate (SVR) X Qty (SQ) Rate (SVR) Qty (SQ) Rate (SVR) 80,000 X $ 3.19 165,000 X $ 3.00 90,000 X $ 10.00 80,000 X $ 10.75 hours per hour hours per hour hours per hour hours per hour $ 255,200 $ 495,000 $ 900,000 $ 860,000 $ 16,500 Unfavorable $ 15,000 Unfavorable 40,000 None Variable-overhead spending variance Variable-overhead efficiency variance No differenceFixed-Overhead Budget And Volume Variances (Hours = Direct-Labor Hours) (1) (2) (3) Actual Fixed Budgeted Fixed Overhead Overhead Fixed Overhead Applied To Work In Process Standard X Standard Fixed- Allowed Hours Overhead Rate 80,000 X $ 10.00 hours per hour $ 860,000 $ 900,000 $ 800,000 $ 40,000 Favorable 100,000 Unfavorable Fixed-overhead budget variance Fixed-overhead volume variance

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