Corporation uses a standard costing system in which variable manufacturing overhead is assigned to production e basis of the number of machine hours. The following data pertain to one month's operations: Standard machine hours allowed for actual production: Actual machine hours for the month: 3,550 MH 4,000 MH 80,000 Actual variable manufacturing overhead costs incurred: Variable overhead spending variance: 5,450 Unfavorable 9 What is variable overhead rate variance? A. $9,450.00 unfavorable B. $ Act Hours Actual Hours Stratt 9,450.00 favorable st Rate Aclual Rate 4,000.00 unfavorable 3,550 K 21 4/000 mh X 21 D $ 4,000.00 favorable E. Not determinable 741550 84/000 20,000 (9,450U 4000 F Viata vauianee 5,450 U Apndime Vauiane 10 Edelweiss Company uses a standard costing system and applies its fixed manufacturing overhead (FMOH) costs to products based on the number of labor hours. Some data for last year are given below. The FMOH was over- applied by $2,000. $ 48,000 5,000 units S 4,000 favorable Actual FMOH costs Actual production Volume variance Determine the budgeted production level in units for the past year. units 5,000 A. Frxdl owloodd Achal Budeyatel units 4.800 B. units 4,792 C. D. E. Need more information units 4,600 DHXFPOHR 5,000# $48,000 5000 46,000 10/unlt50,000 S10/unit 4000 F Budoyded Vaiane Voum Vinanu FPoet x DH -SH) &A EA S
Are the answers correct?
Corporation uses a standard costing system in which variable manufacturing overhead is assigned to production e basis of the number of machine hours. The following data pertain to one month's operations: Standard machine hours allowed for actual production: Actual machine hours for the month: 3,550 MH 4,000 MH 80,000 Actual variable manufacturing overhead costs incurred: Variable overhead spending variance: 5,450 Unfavorable 9 What is variable overhead rate variance? A. $9,450.00 unfavorable B. $ Act Hours Actual Hours Stratt 9,450.00 favorable st Rate Aclual Rate 4,000.00 unfavorable 3,550 K 21 4/000 mh X 21 D $ 4,000.00 favorable E. Not determinable 741550 84/000 20,000 (9,450U 4000 F Viata vauianee 5,450 U Apndime Vauiane 10 Edelweiss Company uses a standard costing system and applies its fixed manufacturing overhead (FMOH) costs to products based on the number of labor hours. Some data for last year are given below. The FMOH was over- applied by $2,000. $ 48,000 5,000 units S 4,000 favorable Actual FMOH costs Actual production Volume variance Determine the budgeted production level in units for the past year. units 5,000 A. Frxdl owloodd Achal Budeyatel units 4.800 B. units 4,792 C. D. E. Need more information units 4,600 DHXFPOHR 5,000# $48,000 5000 46,000 10/unlt50,000 S10/unit 4000 F Budoyded Vaiane Voum Vinanu FPoet x DH -SH) &A EA S
Expert Answer
Want to see the step-by-step answer?
Related Accounting Q&A
Q: Brief Exercise 21A-6 Metlock Company leased equipment from Costner Company, beginning on December 31...
A: Prepare jounal entry to record lease liability:
Q: Cash collections from customers$710 Purchase of used equipment 155 Depreciation expense 155 Sale ...
A: Cash flow from Invetsing activity means the cash inflow or outflow made by an organisation in purcha...
Q: Suppose your company sells services of $270 in exchange for $155 cash and $115 on account. Required...
A: Operating activities: Operating activities include cash inflows and outflows from business operation...
Q: The following expenditures relating to plant assets were made by Glenn Company during the first 2 mo...
A: Expenditures: The useful life of the plant assets signifies the time period, that the company estima...
Q: Who are covered by the anti-bribery provisions? Who are covered by the accounting provisions?
A: The Foreign Corrupt Practices Act of 1977 (FCPA) is a United States federal law known primarily for...
Q: The partnership of Avery and Kirk was formed on July 1, when George Avery and Dinah Kirk agreed to i...
A: Partnership: Partnership refers to the business run by two or more individuals based on some agreed ...
Q: Cost classifications For each of the following costs, check the column(s) that most likely applies (...
A: Fixed cost: A fixed cost is a cost incurred by a company that remains fixed irrespective of the volu...
Q: Gallatin Carpet Cleaning is a small, family-owned business operating out of Bozeman, Montana. For it...
A: Activity-based costing (ABC): The costing method which allocates overheads to the products based on ...
Q: Brief Exercise 14-9On January 1, 2017, Flounder Corporation redeemed $410,000 of bonds at 97. At the...
A: Calculate the amount of cash paid to redeem the bond.
Q: *Problem 11-2A (Part Level Submission) The stockholders’ equity accounts of Cheyenne Corp. on ...
A: Calculating the value of dividends paid to common stockholder. We have,The value of dividend paid to...
Q: Leinart Company had taxable wages (SUTA and FUTA) totaling $175,000. During the year, the company wa...
A: Calculate gross FUTA tax:
Q: I need help with questions 4/5/6A Lou Barlow, a divisional manager for Sage Company, has an opport...
A: 4. Profitability index is measured by dividing the present value of the future cash flows by the ini...
Q: Many businesses borrow money during periods of increased business activity to finance inventory and ...
A: When Cash is recieved against promissory note, an asset is received and a liability is created. when...
Q: Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall ...
A: Asset Turnover ratio: It is an efficacy ratio which measure the value of Companies sales in comparis...
Q: Brief Exercise 8-10 (Part Level Submission) During its first year of operations, Sandhill Co. had c...
A: When using the percentage of receivables allowance method, the credit balance in allowance for doubt...
Q: Concord Company gathered the following data about the three products that it produces: Product ...
A: We can solve the question as follows :
Q: Vale, Hamilton and Curtis, Inc. (VHC) (this is the same company in I above) began operations on June...
A: Computation of Taxable Income of VHC Inc,. for 2018
Q: Angie Silva has recently opened The Sandal Shop in Brisbane, Australia, a store that specializes in ...
A: Part 1. Break-even point represents that point of sales at which total cost incurred by a company is...
Q: unland, Inc. produces three types of balloons—small, medium, and large—with the following characteri...
A: Calculate the contribution margin per hour:
Q: Mary Potts arrived at her stored on the morning of January 29, she found empty shelves and display r...
A: The perpetual inventory method and periodic inventory method are the methods used to count the quant...
Q: The board of directors of Mesa Verde Tool Company set the profit goal for calendar year 2016 at $2,2...
A: NOTE : We'll answer the question of step 1 only as the exact wasn't specified. In case, you need sol...
Q: Shown below are comparative balance sheets for Sandhill Company. Sandhill CompanyComparative Bal...
A: Cash Flow Statements Cash flow statement provides information regarding cash generated or used durin...
Q: A portion of the stockholders’ equity section from the balance cheet of WC appears as below. Stockho...
A: Cash dividends A profitable organization can distribute a part of their profit to the shareholders a...
Q: The September 30 bank statement for Cadieux Company and the September ledger account for cash are su...
A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. Th...
Q: I am resubmitting this question as it was not fully answered and it did not have the correct answers...
A: 1. As per general accepted accounting principles, the absorption method is followed in the preparati...
Q: Why is establishing accounting standards is characterized as a political process? This is a Learning...
A: The new standards and the principles set by the authorities are influenced by many factors similar t...
Q: The net income of F.F. Inc., amounted to $1,920.000 for the current year. a. Compute the amount of ...
A: Note: Given net income is “$1,920.000” but it is considered as “$1,920,000”. The reason is, if the n...
Q: Brief Exercise 15-10Sweet Inc. declared a cash dividend of $2.2 per share on its 5 million outstandi...
A: Journal: Journal is the method of recording monetary business transactions in chronological order. I...
Q: Depreciation calculation methods Gandolfi Construction Co. purchased a used CAT 336DL earth mover at...
A: The depreciation under straight line method is computed by following formula (cost-salvage value)/es...
Q: 4. ABC company suffered inventory loss from market declines in April 2017. As a result, the company ...
A: As per ASC Section 330-10-35-14, when the cost of the inventory has been written down below its cost...
Q: What is the correct answer for this question?
A: The variances are differences between the budgeted and actual expenses. Spending variances= Actual c...
Q: Prepare a contribution margin format income statement China Imports, Inc., sold 18,000 units in May....
A: Contribution margin format income statement of China Imports, Inc. is prepared using MS Excel:
Q: The current sections of Teal Mountain Inc.’s balance sheets at December 31, 2016 and 2017, are prese...
A: Statement of cash flows: Statement of cash flow is a financial statement that shows the cash and cas...
Q: Sat 11:40 PM Help cory Bookmarks Window v2.cengagenow.com Calculator Print Item Show Me How eBook Ac...
A: Formula for Accounts receivable turnover:Accounts receivable turnover = Net credit sales / Average r...
Q: Problem 13-9Cheyenne Company offers an MP3 download (seven-single medley) as a premium for every 5 c...
A: Workings:1
Q: Zenon Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day...
A: Flexible Budget: The flexible budget is a budget which modifies itself as per the variations in the ...
Q: Calculate basic EPS Net income was $659,250 for the year. Throughout the year the company had outsta...
A: Earnings per share (EPS):Earnings per share is the monetary earnings available to shareholder per co...
Q: Calculate activity measures The following information was available for the year ended December 31, ...
A: Inventory turnover: Inventory Turnover Ratio measures the company’s ability to sell its inventory, i...
Q: Cheyenne Corp. was organized on January 1, 2017. It is authorized to issue 21,000 shares of 7%, $53 ...
A: To get the balance of paid in capital, let us first put in the journal entries.The journal entries w...
Q: Which of the following is not an advantage of the corporate form of business? a. limited liability b...
A: Corporate is a popular form of business for the large and small industry. These types of business re...
Q: Patents are asset, liability, quity, revenue or expense?
A: Assets: These are the resources owned and controlled by business as a result of a past transaction o...
Q: Fairbanks Corporation purchased 400 ordinary shares of Sherman Inc. as a tradinginvestment for £13,2...
A: Journal entry to record the purchase of an investment will include a debit to investment account and...
Q: Hills Company’s June 30 bank statement and the June ledger account for cash are summarized here: ...
A: Prepare a bank reconciliation statement for Hills Company.
Q: Problem 25-2A Analysis and computation of payback period, accounting rate of return, and net present...
A: 1. Compute the payback period:
Q: 3. A recent issued demographic report indicates that there is a reasonable probability that ABC comp...
A: Under FASB ASC Section 450-20-25-2 contingency liability needs to be recorded as an expense if it is...
Q: Affordable Lawn Care, Inc., provides lawn mowing services to both commercial and residential custome...
A: Since we are entitled to answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the que...
Q: Work-in-Process Inventory, June 1 ? Work-in-Process Inventory, June 30 55,000 gallons Un...
A: Beginning Work-in-process inventory: Beginning Work-in-process inventory represents partially finish...
Q: Losses have been incurred at Millard Corporation for some time. In an effort to isolate the problem ...
A: Variable costing: This is a costing method that includes variable manufacturing costs to compute the...
Q: Exercise 14-16 On January 1, 2017, Novak Company makes the two following acquisitions. 1. Purchases ...
A: a. (1) Prepare journal entry to record the purchase of land:
Q: Basket purchase allocation Dorsey Co. has expanded its operations by purchasing a parcel of land wit...
A: a. Calculate the cost that should be recorded for the land.