!Required information[The following information applies to the questions displayed below.]AirPro Corporation reports the following for this period.Actual total overheadStandard overhead appliedBudgeted (flexible) variable overhead rateBudgeted fixed overheadPredicted activity levelActual activity levelEnter your answers in the tabs below.Required A Required BTotal Overhead VarianceActual total overheadStandard overhead appliedTotal overhead variance$ 28,425$ 32,860< Required ACompute the total overhead variance and identify it as favorable or unfavorable.$ 2.10 per unit$ 12,600Check my work12,600 units10,600 unitsRequired B> Enter your answers in the tabs below.Required A Required BCompute the controllable variance and identify it as favorable or unfavorable.Controllable varianceActual total overheadBudgeted (flexible) overheadBudgeted variable overheadBudgeted fixed overhead (unchanged)Budgeted (flexible) overheadControllable variance< Required ARequired B >

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Description: !Required information[The following information applies to the questions displayed below.]AirPro Corporation reports the following for this period.Actual total overheadStandard overhead appliedBudgeted (flexible) variable overhead rateBudgeted fixed

Total overhead refers to the sum value of total expenses that are expected to be arising out of all…

Business

Accounting

following information applies to the questions displayed below.] ro Corporation reports the following for this period. tual total overhead andard overhead applied Budgeted (flexible) variable overhead rate Budgeted fixed overhead $ 28,425 $ 32,860 $ 2.10 per unit $ 12,600 17

following information applies to the questions displayed below.] ro Corporation reports the following for this period. tual total overhead andard overhead applied Budgeted (flexible) variable overhead rate Budgeted fixed overhead $ 28,425 $ 32,860 $ 2.10 per unit $ 12,600 17

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter10: Standard Costing And Variance Analysis

Section: Chapter Questions

Problem 29BEA: Performance Report for Variable Variances Humo Company provided the following information: Required:...

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Performance Report for Variable Variances Humo Company provided the following information: Required: Prepare a performance report that shows the variances for each variable overhead item (inspection and power).
Required:1. Compute the plantwide predetermined overhead rate and calculate the overhead assigned toeach product.2. Calculate the predetermined departmental overhead rates and calculate the overheadassigned to each product.3. Using departmental rates, compute the applied overhead for the year. What is the under- oroverapplied overhead for the firm?4. Prepare the journal entry that disposes of the overhead variance calculated in Requirement3, assuming it is not material in amount. What additional information would you need ifthe variance is material to make the appropriate journal entry?
PLEASE PROVIDE FULL SOLUTIONS WITH EXPLAINATIONS Prepare fully labeled variance diagrams(used in Class) for manufacturing overhead splitting them between variance and fixed Denominator level in hours 40,000 Actual output in units 21,000 Std. Variable overhead rate per machine hour $2.80 Actual variable overhead incurred $117,000 Actual fixed overhead incurred $302,100 Variable overhead applied $117,600 Variable overhead Efficiency Variance $8,400 U Fixed overhead budget variance $2,100 U What is the Over/under Allocated MO for Variable MO? ______________ What is the Over/under Allocated MO for Fixed MO? ___________________ Prepare journal entries that would be made at the end of each month relating to the above variances.
Required: Compute One Stop’s predetermined manufacturing overhead rate for 20X9. State the journal entries necessary to record the above transactions in the general journal. Assume that One Stop uses the perpetual inventory system. Post the manufacturing overhead transactions to the Manufacturing Overhead T-account, clearly showing the balance before closing the account. State the journal entries necessary to dispose of the variance. Assume that the manufacturing overhead variance is immaterial.
Information on Grixdale Partner's fixed overhead costs follows: Overhead applied $ 1,227,800 Actual overhead 1,153,200 Budgeted overhead 1,207,000 Required: What are the fixed overhead price and production volume variances? Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.
Rexford Components shows the following overhead information for the current period: Actual overhead incurred $ 105,840 , 2/3 of which is variable Budgeted fixed overhead $ 31,104 Standard variable overhead rate per direct labor-hour $ 27 Standard hours allowed for actual production 2,820 hours Actual labor-hours used 2,640 hours Required: What are the variable overhead price and efficiency variances and fixed overhead price variance? (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)
Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches Corey Company provided the following information: Standard fixed overhead rate (SFOR) per direct labor hour $10.00 Actual fixed overhead $425,000 Budgeted fixed overhead $500,000 Actual production in units 8,500 Standard hours allowed for actual units produced (SH) 42,500 Required Enter amounts as positive numbers and select Favorable (F) or Unfavorable(U). If no variance, enter $0 and select 0. 1. Using the columnar approach, calculate the fixed overhead spending and volume variances. Please use the attached picture to solve the above question. 2. Calculate the total fixed overhead variance. 3. Using the formula approach, calculate the fixed overhead spending variance.
Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches Corey Company provided the following information: Standard fixed overhead rate (SFOR) per direct labor hour $10.00 Actual fixed overhead $425,000 Budgeted fixed overhead $500,000 Actual production in units 8,500 Standard hours allowed for actual units produced (SH) 42,500 Required Enter amounts as positive numbers and select Favorable (F) or Unfavorable(U). If no variance, enter $0 and select 0. 1. Using the columnar approach, calculate the fixed overhead spending and volume variances. (1) (2) (3) fill in the blank 4 fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 9 Spending Volume 2. Using the…
Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches Branch Company provided the following information: Standard fixed overhead rate (SFOR) per direct labor hour $5.00 Actual fixed overhead $305,000 BFOH $300,000 Actual production in units 16,000 Standard hours allowed for actual units produced (SH) 64,000 Required Enter amounts as positive numbers and select Favorable (F) or Unfavorable(U). 1. Using the columnar approach, calculate the fixed overhead spending and volume variances. (1) (2) (3) fill in the blank 4 fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 9 Spending Volume 2. Using the formula approach, calculate the fixed overhead spending variance. $fill in the blank 11 3. Using the formula approach, calculate the fixed overhead volume variance. $fill in the blank 13 4. Calculate the total fixed overhead variance. $fill in the blank…
In good accounting form, compute for the: 1. Spending variance2. Variable overhead efficiency variance3. Controllable varianceMarissa co., the consultant of marisol co. had summarized the following standard cost data extracted from the historical records and performance reports issued by the cost accounting department in the prior year to assist in her analysis and evaluation of the standard costing policy of the company: input required per unit standard cost per unit standard cost per unit Direct materials 6 kg per unit p90 per kg p540 Direct labor 5 hrs per unit p50 per hour p250 Other information follows: > Budgeted factory overhead for the year: Variable 480,000 Fixed 600,000 > The company's normal capacity per month is 400 units> Actual cost materials purchased for the year is p2,342,000> During the year, direct materials purchased is 26,880 kg while direct materials actually used is 24,760 kgs>Actual labor costs for the year 1,080,000 of which…
Manufacturing overhead data for the production of Product H by Shakira Company, assuming the company uses a standard cost system, are as follows. Overhead incurred for 46,000 actual direct labor hours worked $373,200 Overhead rate (variable $7; fixed $1) at normal capacity of 50,700 direct labor hours $8 Standard hours allowed for work done 46,750 Compute the total overhead variance. Total overhead variance $enter the total overhead variance in dollars select an option Neither favorable nor unfavorableFavorableUnfavorable
The following partial information is contained in the variance analysis received from the Western Plant of Eastlawn Company. All plants at Eastlawn apply overhead on the basis of direct labor-hours Flexible budget for variable overhead based on 3,640 direct labor-hours Actual total overhead incurred Actual direct labor-hours worked Direct labor-hours used to determined the fixed overhead application rate Price variance for variable overhead Price variance for fixed overhead Required: a. Prepare a variable overhead analysis. b. Prepare a fixed overhead analysis. $ 101,920 510,300 3,772 3,390 $ 7,150 F $ 11,814 U Complete this question by entering your answers in the tabs below. Required A Required B Prepare a fixed overhead analysis. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Price variance 11,814 บี Production volume variance F Fixed overhead total variance F