The following data for November have been provided by Genghis Corporation, a producer of precision drills...
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The following data for November have been provided by Genghis Corporation, a producer of precision drills for oil exploration: Budgeted production Standard machine-hours per drill Standard indirect labor Standard power Actual production Actual machine-hours Actual indirect labor Actual power 4,600 drills 7.5 machine-hours $10.00 per machine-hour $3.10 per machine-hour 5,100 drills 35,660 machine-hours $370,784 $107,450 Required: Show your work. 18 points a. Compute the variable overhead rate variances for indirect labor for November. b. Compute the variable overhead rate variances for power for November. c. Compute the variable overhead efficiency variances for indirect labor for November. d. Compute the variable overhead efficiency variances for power for November. Indicate whether each of the variances is favorable (F) or unfavorable (U). Input all amounts as positive values. The following data for November have been provided by Genghis Corporation, a producer of precision drills for oil exploration: Budgeted production Standard machine-hours per drill Standard indirect labor Standard power Actual production Actual machine-hours Actual indirect labor Actual power 4,600 drills 7.5 machine-hours $10.00 per machine-hour $3.10 per machine-hour 5,100 drills 35,660 machine-hours $370,784 $107,450 Required: Show your work. 18 points a. Compute the variable overhead rate variances for indirect labor for November. b. Compute the variable overhead rate variances for power for November. c. Compute the variable overhead efficiency variances for indirect labor for November. d. Compute the variable overhead efficiency variances for power for November. Indicate whether each of the variances is favorable (F) or unfavorable (U). Input all amounts as positive values.
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Answer I The actual indirect labor and actual power has bee... View the full answer
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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