DRS Company showed the following information for the year: Standard variable overhead rate (SVOR) per direct labor hour Standard hours (SH) allowed per unit Actual production in units Actual variable overhead costs Actual direct labor hours RM3.75 4 15,000 RM222,816 57,200 a) Calculate the standard direct labor hours for actual production. b) Calculate the applied variable overhead. c) Calculate the total variable overhead variance.

Q: Total Variable Overhead Variance Rath Company showed the following information for the year:…

A: 1.Standard hours allowed 60000 =15000*4  2.Applied variable overhead 225000=60000*3.75

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

A: Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked Labor time…

Q: The Pangasinan Company has a standard costing system. The following data are available for January:…

A: Variance analysis is a technique used in management or managerial accounting, through the help of…

Q: 00, Direct labor usage (efficiency) variance—unfavorable P4,200. What were the actual hours worked,…

A: Actual hours worked refers to all hours worked by the employee and excludes any paid or unpaid leave…

Q: Beverly Company has determined a standard variable overhead rate of $3.90 per direct labor hour and…

A: Standard hours=Actual units×Labor hour per unit=3400×0.50=1700

Q: manufacturing company that has only one product has established the following standards for its…

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

Q: A company reports the following information for its direct labor. Actual hourn of direct labor used…

A: When actual hours/price is higher than standard then it is unfavorable and vice versa is favorable.

Q: Use this information to answer the question that follow. The standard costs and actual costs for…

A: Formulas: Fixed overhead variance = Actual fixed cost - Standard fixed cost

Q: Good Deal​, Inc. uses a standard cost system and provides the following information. Good Deal…

A: Standard Costing refers to the method of costing used for the performance evaluation of various…

Q: Help7

A: Labor efficiency variance = (standard hours allowed - actual hours worked)*standard rate per hour…

Q: Good Deal​, Inc. uses a standard cost system and provides the following information. Good Deal…

A: Standard costing in simple terms can be defined as a system in which the standard costs and revenues…

Q: A manufacturing company that has only one product has established the following standards for its…

A: The variance is the difference between standard and the actual production.

Q: Aretha Company provided the following information: Standard variable overhead rate (SVOR) per…

A: Formula used: 1)Variable overhead spending variance: Variable overhead spending variance=AH(AR-SR)…

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

A: Hi student Since there are multiple subparts, we will answer only first three subparts.

Q: A company reports the following information for its direct labor. Actual hours of direct labor used…

A: Lets understand the basics. Direct labor rate variance is a variance between the rate at which labor…

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 standards for variable manufacturing overhead have been established for a company that…

A: Standard hours= Output* Standard hours per unit                          = 250*6.6 hours per unit…

Q: Variable Overhead Spending and Efficiency Variances,Columnar and Formula ApproachesRath Company…

A: The difference between the actual cost and the anticipated (or planned) cost is known as an…

Q: DRS Manufacturing has the following standards for one of its products:  Production Costs Direct…

A: Direct Material price variance= (Actual price per meter - Standard price per meter) x Actual…

Q: Lamp Light Limited (LLL) manufactures lampshades. It applies variable overhead on the basis of…

A:

Q: Sakto Company provides the following production data: Total standard overhead cost per unit of…

A: Efficiency Variance (EV) = EV arising due to  effectiveness in use of material qty, labour…

Q: Rath Company showed the following information for the year: Standard variable overhead rate (SVOR)…

A: 1. Standard direct labor hours for actual production = Actual production in units x standard hours…

Q: Total Fixed Overhead Variance Bradshaw Company provided the following data: Standard fixed overhead…

A: Standard hours allowed for actual production are given by SH = Standard hours per unit * actual…

Q: The BY Co. uses a standard costing system in which variable factory overhead is assigned to…

A: Variance is the difference between budgeted figures (cost and revenue) and actual figures.

Q: The Henry company made the following data available from its accounting records and reports.…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Use this information to answer the question that follow. The standard costs and actual costs for…

A: Fixed factory overhead volume variance = (Standard hrs required - Budgeted hrs) * std rate per hr

Q: A manufacturing company that has only one product has established the following standards for its…

A: To calculate: Variable overhead rate variance   Standard Variable overhead rate = $14.20 per DLH…

Q: A company reports the following information for its direct labor. Actual hours of direct labor used…

A: Direct Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked…

Q: Direct labor standard (4.00 hrs. @ $7.00/hr.) $ 28.00 per unit   Actual hours worked   12,650…

A: Direct labor cost variance is the difference between actual labor cost and standard labor cost due…

Q: Total Fixed Overhead Variance Bradshaw Company provided the following data: Standard fixed overhead…

A: Solution 1: Standard hours allowed for actual production = 15000 * 4 = 60000 hours

Q: The following data relate to direct labor costs for the current period: Standard costs 6,900…

A: Formula:

Q: A manufacturing company that has only one product has established the following standards for its…

A: Variable overhead efficiency variance = (Actual labor hours - Standard labor hours) x Standard VO…

Q: The standard costs and actual costs for factory overhead for the manufacture of 2,800 units of…

A: Factory Overhead is the indirect cost consisting of indirect material, indirect labor, heating,…

Q: The standard costs and actual costs for factory overhead for the manufacture of 2,600 units of…

A: Factory Overhead is the indirect cost consisting of indirect material, indirect labor, heating,…

Q: The following information describes a company’s direct labor usage in a recent period.…

A: Direct Labor Efficiency Variance: Direct Labor Efficiency Variance is also known as the Direct Labor…

Q: Manufacturing overhead data for the production of Product H by Shakira Company, assuming the company…

A: Variance: Variance refers to the difference level in the actual cost incurred and standard cost. The…

Q: Are the answers correct?

A: 9.Variable overhead rate variance: The difference between the actual variable overhead rate and…

Q: A company reports the following information for its direct labor.   Actual hours of direct labor…

A: The direct labor cost variance is a combination of two variances - the direct labor rate variance…

Q: Mosaic Company applies overhead using machine hours and reports the following information. Compute…

A: Formula to calculate total variable overhead cost variance (TVOHCV): TVOHCV = (Standard…

Q: See Clear Company manufactures clear plastic CD cases. It applies variable overhead based on the…

A: Amount Favourable/Unfavourable Variable Overhead Rate Variance $9000 Favorable Variable…

Q: Using the following information: Actual direct labor hours used 4,700 Units produced 1,500 Standard…

A: Variable overhead = (Actual direct labour hours used - Standard labour hours) x Standard Rate for…

Q: The standard costs and actual costs for factory overhead for the manufacture of 2,600 units of…

A: Fixed overhead allocated for actual production = (Budgeted hours per unit x Budgeted Fixed Overhead…

Q: A company uses a standard costing system and applies overhead to production based on direct…

A: Predetermined overhead rate (Fixed overhead) = Budgeted Fixed overhead cost ÷ Budgeted 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: Acme Inc. has the following information available: Actual price paid for material $1.00 Standard…

A: Material price variance = (Actual price per pound - Standard price per pound)*Actual quantity…

Q: The Litton Company has established standards as follows: Direct material Direct Labor Variable…

A: Labour Rate Variance :— It is the difference between standard labour cost & actual labour cost.…

Q: ving information describes a company's direct labor usage in a recent period. Compute the direct…

A: The Direct labor efficiency variance is basically defined as the difference between the what was the…

Q: The following standards for variable manufacturing overhead have been established for a company that…

A:

Q: Use this information to answer the question that follow. The standard costs and actual costs for…

A: Variable factory overhead controllable variance = Standard cost - Actual cost

Q: The following information pertains to Blue Lion Co's 202x manufacturing operations: Standard direct…

A: Variable overhead efficiency variance = (Actual hours - Standard hours)*Standard rate If the actual…

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.