Question: The following standards for variable overhead have been established for a company that makes only one product: Standard hours per unit of output 6.9 hours

The following standards for variable overhead have been established for a company that makes only one product:


Standard hours per unit of output	6.9	hours
Standard variable overhead rate	$14.00	per hour

The following data pertain to operations for the last month:


Actual hours	9,400	hours
Actual total variable overhead cost	$125,240
Actual output	1,350	units

Required:
a.	What is the variable overhead rate variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.)

What is the variable overhead efficiency variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.)

company that makes only one product: Standard hours per unit of output

Variable overhead rate variance

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!

1. The following standards for variable overhead have been established for a company that makes only one product: Standard hours per unit of output - 9.7 hours Standard variable overhead rate - 13.90...

Saalfrank Corporation is considering two alternatives that are code-named M and N. Costs associated with the alternatives are listed below: Supplies costs Assembly costs Power costs Inspection costs...

The following standards for variable overhead have been established for a company that makes only one product: Standard hours per unit of output 5.6 hours Standard variable overhead rate $14.00 per...

14. value: 6.25 points The following standards for variable overhead have been established for a company that makes only one product: Standard hours per unit of output 6.3 hours Standard variable...

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...

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...

Variable OH Variances 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...

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...

Kohl Co. provides warranties for many of its products. The January 1, 2019, balance of the Estimated Warranty Liability account was $34,256. Based on an analysis of warranty claims during the past...

Activity Predecessor Activity Optimistic time Most like time Pessimistic time A _ 2 4 6 B A 4 5 6 C A 7 10 13 D B, C 5 6 7 E C 3 4 5 F D 12 15 18 G E, F 8 9 12 Consider the project with the following...

A disadvantage of cloud storage is that Multiple Choice because of their small size, thumb drives can easily be lost data is only available when you are online over time, data stored on the cloud...

When looking at types of entreprenurial ideas please explain "The Demand - Pull Idea" and how that would fit with the founder of a charity who spotted the need for a local hospice?

B Think about some of the potential ethical dangers of crossing the line between an informative and a persuasive speech in this case. Where might you be tempted to persuade your audience? How can you...

Choose an appropriate organizational pattern for your speech

Writing a Strong Conclusion