+1-415-670-9189
info@expertsmind.com
Compute the overhead spending variance and the volume
Course:- Accounting Basics
Reference No.:- EM13601498




Assignment Help
Assignment Help >> Accounting Basics

Standard manufacturing overhead based on normal monthly volume:

  • Fixed ($302,300 ÷ 20,000 units) $ 15.12
  • Variable ($100,000 ÷ 20,000 units) 5.00 $ 20.12
  • Units actually produced in current month 18,000 units
  • Actual overhead costs incurred (including $300,000 fixed) $ 383,800

Compute the overhead spending variance and the volume variance. (Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance). Negative amounts should be indicated by a minus sign. Omit the "$" sign in your response.)

  • Overhead spending variance $ Favourable
  • Overhead volume variance $ Unfavourable



Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Accounting Basics) Materials
Consider a fast-food restaurant where customers enter at a rate of 75 per hour, and three servers are working. Customers wait in a single line and go, in FCFS fashion, to th
The corporation issues the stock to Sid on September 13, 2010, to raise additional equity capital. Sid owns no other Orlando stock.a. Does Orlando's S election terminate? If
Two genetic tests routinely offered to women during pregnancy are Chorionic Villus Sampling (CVS) and Amniocentesis. Many health care professionals believe these two tests a
Prepare a pension spreadsheet that shows the relationships among the various pension balances, shows the changes in those balances, and computes pension expense for 2011.
Putty Ice Cream Company bought a new ice cream maker at the beginning of the year at a cog,/ 59,000. The estimated useful life was four years, and the residual value was $1,
Sam and Teresa decide to go into business selling discounted merchandise through their web site "e-Buy". They sign a partnership agreement that requires Sam to contribute $12,
An employee whose regular hourly rate is $20 and whose overtime rate is 1.5 times the regular rate worked 44 hours in one week. In the payroll register, the employer should
Over the past year, you earned 11.9% overall on your investments. During that period, the inflation rate was 2.3% and the risk-free of risk-free rate of return was 3.2%. Wha