Question: The following standards for variable overhead have been established for a company that makes only one product: Standard labor-hour per unit of output 8.5 hours

The following standards for variable overhead have been established for a company that makes only one product: Standard labor-hour per unit of output 8.5 hours Standard labor rate 15.00 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 8,000 hours Actual total labor cost 128,000 Actual output 1,000 units What is the variable overhead rate variance for the month?

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!

Q:

The following standards for variable overhead have been established for a company that makes only one product: Standard labor-hour per unit of output 8.5 hours Standard labor rate 15.00 per hour The...

Q:

1. 2. 3. Please show solutions Beau County Cable Services, Inc. is organized with three segments: Metro, Suburban, and Outlying. Data for these segments for the year just ended as follows: Metro...

Q:

With solutions please The following standards for variable overhead have been established for a company that makes only one product: Standard labor-hour per unit of output 8.5 hours Standard labor...

Q:

The following standards for variable overhead have been established for a company that makes only one product: Standard hours per unit of output 5.0 hours Standard variable overhead rate $ 15.00 per...

Q:

The following standards for variable overhead have been established for a company that makes only one product: Standard hours per unit of output 4.8 hours Standard variable overhead rate $ 15. 2...

Q:

The following standards for variable overhead have been established for a company that makes only one product: Standard hours per unit of output4.4hoursStandard variable overhead rate$16.00per hour...

Q:

The following standards for variable overhead have been established for a company that makes only one product: Standard hours per unit of output5.5hoursStandard variable overhead rate$14.00per hour...

Q:

The following standards for variable overhead have been established for a company that makes only one product: Standard hours per unit of output4.4hoursStandard variable overhead rate$16.00per hour...

Q:

The following standards for variable overhead have been established for a company that makes only one product: Standard hours per unit of output5.5hoursStandard variable overhead rate$14.00per hour...

Q:

The following standards for variable overhead have been established for a company that makes only one product: Standard hours per unit of output Standard variable overhead rate 5.5 hours $14.00 per...

Q:

CD Solutions Ltd. manufactures and replicates CDs for software and music recording companies. CD Solutions sells each disc for $2.50. The variable costs per disc are $1.00. a. To just break even, how...

Q:

Cagney Company sold $200,000 of bonds on June 30, 2010. A portion of the amortization table appears below. Required: 1. Indicate the stated interest rate on these bonds. 2. Calculate the effective...

Q:

Which of the following is not a typical reason to purchase term life insurance? Possible Answers To replace the income of the policyholder, should they die prematurely or unexpectedly. To provide...

Q:

Write a program in C that will find the even numbers and odd numbers from an array. The even numbers will be stored an another array named evenArray and odd numbers will be stored in the oddArray....

Q:

Write a programme in C that will subtract 2 matrix and print the output matrix. Matrix will be 4 by 4 matrix. Take the elements of the first matrix from the user as input. Then transpose the first...

Q:

On December 31, 2020, Green Bank enters into a debt restructuring agreement with Shamrock Inc., which is now experiencing financial trouble. The bank agrees to restructure a $2.3-million, 10% note...

Q:

Create a 200 word summary on the Juvenile Justice System than and today. Describe The Juvenile system and provide a generalizable definition. Highlight the issues in the Juvenile system and why this...

Q:

Audit engagement programs testing internal controls should: (a) Be tailored for the audit of each operation. (b) Be generalized to fit all situations without regard to departmental lines. (c) Be...

Q:

Issues that will Impact Internal Auditing in the 21st Century Synopsis The speed of change in the last 70 years has been fast: imagine what further changes await us in the next 70. Cutting edge...

Q:

The Finance Professional in 2020 Synopsis This prediction of the financial professional in 2020 also has messages for internal auditing. Its challenges and opportunities pattern many of the current...