Compute the following to assist you in identifying the errors in the factory overhead cost variance analysis

Fixed factory overhead 95,200 Standard: 46,000 hrs. at $5.00 ($2.90 for variable factory overhead) 230,000 Productive capacity at 100% of normal was 45,000 hours, and the factory overhead cost budgeted at the level of 46,000 standard hours was $228,600. Based on these data, the chief cost accountant prepared the following variance analysis: Variable factory overhead controllable variance: Actual variable factory overhead cost incurred $132,100 Budgeted variable factory overhead for 46,000 hours 133,400 Variance-favorable $(1,300) Fixed factory overhead volume variance: Normal productive capacity at 100% 45,000 hrs. Standard for amount produced 46,000 Productive capacity not used 1,000 hrs. Standard variable factory overhead rate x $5.00 Variance-unfavorable 5,000 Total factory overhead cost variance-unfavorable $3,700 Compute the following to assist you in identifying the errors in the factory overhead cost variance analysis. Enter a favorable variance as a negative number using a…

Budgeted variable factory overhead costs:                            $354,000 Budgeted production in units:                                                    60,000 units Budgeted time:                                                                                 2 direct labor hours per unit Allocation base: direct labor hours     Actual production in units:                                                           58,600 units Actual variable factory overhead costs incurred:                       $338,500 Actual direct labor hours used:                                                  119,000 hours   CALCULATE VARIABLE FACTORY OVERHEAD ALLOCATED:                                                                                                                                                               Allocated: $__________ CALCULATE VARIABLE FACTORY OVERHEAD SPENDING (PRICE) VARIANCE :…

Factory Overhead Cost Variance Report Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 14,000 hours for production: Variable overhead costs:     Indirect factory labor $44,800   Power and light 10,780   Indirect materials 21,000      Total variable overhead cost   $76,580 Fixed overhead costs:     Supervisory salaries $61,560   Depreciation of plant and equipment 16,200   Insurance and property taxes 30,240      Total fixed overhead cost   108,000 Total factory overhead cost   $184,580 Tannin has available 18,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 13,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead costs:   Indirect factory labor $40,560…

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Strategic Cost

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Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 5,000 computers: Actual: Variable factory overhead $70,300   Fixed factory overhead 28,000 Standard: 5,000 hrs. at $18 90,000 If productive capacity of 100% was 8,000 hours and the total factory overhead cost budgeted at the level of 5,000 standard hours was $100,500, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $3.5 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variance Amount Favorable/Unfavorable Variable factory overhead controllable variance $fill in the blank 1   Fixed factory overhead volume variance fill in the blank 3   Total factory overhead cost variance $fill in the blank 5

Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 6,000 computers: Actual: Variable factory overhead $195,000 Fixed factory overhead 55,000 Standard: 6,000 hrs. at $39 234,000 If productive capacity of 100% was 10,000 hours and the total factory overhead cost budgeted at the level of 6,000 standard hours was $256,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $5.5 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variance Amount Favorable/Unfavorable Variable factory overhead controllable variance Fixed factory overhead volume variance Total factory overhead cost variance

Calculating the Variable Overhead Spending and Efficiency Variances Standish Company manufactures consumer products and provided the following information for the month of February: