+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
What are reversing entries? Why are reversing entries needed? What would be the impact if not made? What are the pros and cons of using reversing entries? What types of tran
Your cost accounting system recommendation and why it is suitable for this company. A general description of the documents that the proposed cost accounting system requires.
The course research paper should address a major contemporary issue for Generally Accepted Accounting Principles satisfying audit requirements arising in public practice as
Prepare a summary of transactions for the company for these transactions. Use money columns headed Cash, Accounts Receivable, Equipment, Accounts Payable, Capital Stock, and
Assume that the partnership operates for two years, and then sells the building at the end of year 2 for, alternatively, $1,100 or $800.  How will the partnership's income,
1. List at least three jobs and research the organizations' recruiting practices. The jobs could be positions you have held or of those you want to hold. In your post, addre
You have a BRILLIANT idea for a new social media venture, something that combines the benefits of FaceBook, Twitter, Instagram and Pinterest and is more user friendly than a
The important dates in connection with a cash dividend of $112,750 on a corporation’s common stock are October 6, November 5, and December 5. Journalize the entries required o