Derr Company reports the following. Compute (a) controllable variance, (b) volume variance, and (c) total overhead. Actual total overhead $ 1,120 Budgeted (flexible) overhead at units produced Standard overhead applied 800 1,040

Q: I In reviewing activity for July, the controller of Mathis, Inc., collected the following data…

A: Material cost variances shows difference in standard costs of materials and actual cost of…

Q: 1. Compute the standard overhead rate. Hint.: Standard allocation base at 80% capacity is 20,000…

A: Production of goods involves direct cost and indirect cost. Direct costs are fixed per unit and…

Q: Lido Company's standard and actual costs per unit for the most recent period, during which 400 units…

A: Material price variance = (Standard price - actual price)*actual quantity purchased Material…

Q: The following data relate to labor cost for production of 6,300 cellular telephones: Actual: 4,280…

A: a) Rate variance: Direct labor rate variance =(Actual rate - Standard rate) * Actual hours Direct…

Q: The following data relate to labor cost for production of 5,600 cellular telephones: Actual: 3,750…

A: Direct labor rate variance = Actual hours x (Actual rate - Standard rate) Direct labor time variance…

Q: Bellingham Company produced 3,300 units of product that required 4.5 standard direct labor hours per…

A: Variance is the measure which is used to determine the difference between the budgeted and the…

Q: Shaw Company produced 730 units, Its overhead allocation base is DLH and its standard amount per…

A: A volume variance can be defined as the difference between the total actual overhead costs and the…

Q: Derr Company reports the following Compute (a) controllable variance, (b) volume variance, and (c)…

A: Total overhead variance = Actual total overhead - Standard overhead applied

Q: king with variances From the following data, determine the total actual costs incurred for direct…

A: The variance is the difference between standard and actual cost of production for the current…

Q: The direct materials quantity variance is

A: Direct material cost variance: direct material variance is variance analysis done by the company to…

Q: A manufactured product has the following information for June. Standard Actual Direct materials…

A: Standard quantity of material = actual units produced x standard quantity per unit = 7900 x 6 =…

Q: A manufactured product has the following information for June. Standard 5 lbs. e $7 per lb. 2 hrs. @…

A: Actual Cost AH x AR 17,400 x 16.50   $287,100       AH x SR 17,400 x 16   278,400…

Q: se the following information of Alfred Industries. Standard manufacturing…

A: 1) Calculate overhead spending variance   Units actually produced in the current month 18,000 units…

Q: A company is examining its Manufacturing Overhead for the year. You have been asked to examine the…

A: Variance Analysis - It is summary and analysis of difference between planned and actual numbers. It…

Q: Brice Corporation shows the following overhead information for the current period. Actual overhead…

A: Variable overhead price variance  =  Actual overhead -  ( Actual hours x Standard overhead rate )…

Q: The following data relate to product no. 89 of Des Moines Corporation: at9 Direct material standard:…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: From the following information for Alfred Industries, compute the overhead spending variance and the…

A: Overhead Spending Variance:

Q: Following information has been obtained from the records of a manufacturing organisation using the…

A:

Q: Bellingham Company produced 15,000 units of product that required 4 standard direct labor hours per…

A: Controllable variance: It is the difference between the actual overheads incurred and the standard…

Q: Martin Company uses a two-way analysis of overhead variances. Selected data for September 2012…

A: Solution: Actual variable factory overhead = P196,000 Standard direct labor hours  =33000 Variable…

Q: Shaw Incorporated began this period with a budget for 1,070 units of predicted production. The…

A: Budgeted (flexible) overhead at units produced is the amount of budgeted overhead at budgeted…

Q: The Big Company's expected production volume was 36,000 units at 9,000 hours of labor. The fixed…

A: Variance analysis helps to find out the deviations between the actual performance and the standards…

Q: Please help me

A: Variance analysis is one of the important analysis being made in management accounting for the…

Q: Using the following data from the records of Starts Inc. for November of the current year, prepare…

A: Since the cost of goods sold given in the question is standard, any favorable direct material,…

Q: The standard and actual cost data of RIZWAN LTD. are as follows: Standard Actual 68,600units @ Rs.…

A: Variance Analysis is the method of controlling the cost in order to make appropriate decision by…

Q: Required information [The following information applies to the questions displayed below.] Alvarez…

A: Expenses that are not applied or allocated to products, such as marketing and general management,…

Q: Resset Co. provides the following results of April’s operations: F indicates favorable and U…

A:

Q: Denominator level in hours 40,000 Actual output in units 21,000 Std. Variable overhead rate per…

A: NOTE : As per BARTLEBY guidelines, when multiple questions are given then first question is to be…

Q: From the following data, determine the total actual costs incurred for direct material, direct…

A: Formula: Material price variance = (Standard price - Actual price)*Actual quantity purchased…

Q: During the year, 5,600 units were produced, 18,340 hours were worked, and the actual manufacturing…

A: Variable manufacturing overhead rate = Budgeted variable manufacturing overhead / Budgeted hours =…

Q: Krueger Corporation in Washington, D.C., U.S., recently implemented a standard cost system. The…

A: Variance analysis is an examination used to perceive the distinction between real conduct and…

Q: The following information was gathered for Larsen Corp. for the year ending 20xx.   Budgeted…

A: Direct Labors are those labors which are directly involved in a company's workforce for production…

Q: What is the direct labor (a) rate variance, (b) time variance, and (c) total cost variance? (d)…

A: “Hey, since there are multiple sub-parts posted, we will answer first three sub-parts. If you want…

Q: Shaw Incorporated began this period with a budget for 1,070 units of predicted production. The…

A: Variance analysis is an evaluation of the discrepancy between actual and planned data. The sum of…

Q: The management of Guardian Fire Alarms has calculated the following variances: Direct materials cost…

A: Total Direct Material Variance: The discrepancy between the standard cost of materials arising from…

Q: Alvarez Company’s output for the current period yields a $20,000 favorable overhead volume variance…

A: Given information is: Alvarez Company’s output for the current period yields a $20,000 favorable…

Q: The following data for May has been provided by Mccawley Corporation.           Denominator…

A: Calculate overhead rate: Overhead rate = Budgeted fixed manufacturing overhead costs / Machine hours…

Q: The standard and actual cost data of M/s. ABC Company are as follows:              Standard Raw…

A: Solution: Material Price Variance: Direct materials price variance = (Standard price - Actual price)…

Q: Shaw Company produced 730 units. ts overhead allocation base is OLH and its standard amount per…

A: Volume variance refers to the difference among the actual sold quantity as well as the budgeted…

Q: The following labor standards have been established for a particular product: Standard labor-hours…

A: Labor efficiency (quantity) variance = (Actual hours worked - Standard hours allowed)*Standard rate…

Q: Determine the (a) volume variance, (b) controllable variance, and (c) total factory overhead cost…

A: Solution:- Given, The standard factory overhead rate = $12 per machine hour…

Q: Required information [The following information applies to the questions displayed below] Alvarez…

A: Answer:-  Overhead meaning:- Overhead expenses are those expenses which are not directly related to…

Q: Bellingham Company produced 4,200 units of product that required 2.5 standard direct labor hours per…

A: Fixed factory overhead: The overheads amount remains fixed. It won't varies according to the input…

Q: A manufactured product has the following information for June.     Standard Quantity and Cost…

A: The variance is the difference between the actual data and standard output of the production.…

Q: Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches Corey Company provided…

A: Fixed overhead costs are those indirect costs which do not change with change in volume. This is an…

Q: Krueger Corporation in Washington, D.C., U.S., recently implemented a standard cost system. The…

A: Given, Variable Overhead Rate = $2 Fixed Overhead Rate = $10 Normal level of production = 1,200…

Q: Standard and actual costs for direct labor for the manufacture of 1,000 units of product were as…

A: Introduction: A variance is a difference between actual measured output and a basis, such as a…

Q: Dvorak Company produced 3,500 units of product that required 1.5 standard hours per unit. The…

A: Fixed overhead volume variance is the amount of fixed overhead actually incurred over and above the…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.