he management of Earth Barber Lawnmowers has calculated the following variances: Direct materials cost variance $10,000 U Direct materials efficiency variance 35,000 F Direct labor cost variance 16,000 F Direct labor efficiency variance 12,000 U Variable overhead cost variance 3000 F Variable overhead efficiency variance 6500 F Fixed overhead cost variance 4000 F Fixed overhead volume variance 2,500 FWhen determining the total product cost flexible budget variance, what is the total fixed overhead variance of the company? Group of answer choices $10,500 F $6500 F $5500 F $4000 F

Q: The management of Watchdog Security Systems has calculated the following variances: $9,000 U 40,000…

A: Solution:- Calculation of the Total Direct Labour Variance of the company as follows:-

Q: Cost of Goods Sold (at standard) $361,000   Direct Labor Efficiency Variance $19,000 F Sales Revenue…

A: Standard cost income statement is the income statement used by manufacturing firms for recording the…

Q: Bellingham Company produces a product that requires 10 standard pounds per unit. The standard price…

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

Q: Fogel Company expects to produce and sell 111,000 units for the period. The company’s flexible…

A: The flexible budget is prepared on the basis of estimated costs for the period.  The controllable…

Q: The director of cost management for Odessa Company uses a statistical control chart to help…

A: The question is based on the concept of Cost Accounting.

Q: labor efficiency variance

A: Labor efficiency variance = Standard rate * (Actual hours - Standard hours)

Q: Use the following information to complete variance analysis for Maple Co. Budgeted Units 40,000…

A: Direct labour price variance is the difference between standard labour cost and actual labour cost…

Q: For the current period, Juan Company’s standard cost of direct materials is $140,000. The direct…

A: Actual cost of direct material means the cost which has been actually incurred on the direct…

Q: Brookman, Inc. manufactures lead crystal glasses. The standard direct labor time is 0.5 hour per​…

A: Standard hours means standard hours for actual output  = 6800×0.5 =3400 hours

Q: The following information was obtained from KMG Manufacturing Company.   Standard Data: Direct…

A: Standards are set in advance. From the standards, actual performance is measured so as to find the…

Q: The following information is available for Sheffield’s Hot Dogs: Actual production   11,820…

A: Calculate the actual overhead rate as follows: Calculate standard hours and actual hours worked as…

Q: Vinton Inc. provides the following details for the year: Type of variance Amount Variable…

A: Formula: sales-volume variance for operating income = Operating income volume + fixed overhead…

Q: Use the information provided below to calculate the following manufacturing variances for March…

A: Variance analysis is one of the important technique of management accounting. Under this analysis,…

Q: what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter…

A: Direct material variances:   The difference between the actual material cost per unit and the…

Q: The following information is available for Marigold’s Hot Dogs: Actual production   11,760 packages…

A: Standard costing is used to compare the budgeted data with the actual results for better managerial…

Q: The management of​ Pamela's Pet Supplies has calculated the following​ variances:   Direct materials…

A: Fixed factory overhead volume variance = Budgeted overhead - standard overhead

Q: FUN Inc. has a fully automated production facility in which almost 97 percent of averhead costs are…

A: GIVEN     FUN Inc. has a fully automated production facility in which almost 97 percent of averhead…

Q: Standish Company manufactures consumer products and provided the following information for the month…

A: The question is based on the concept of Cost Accounting. As per the Bartleby guidelines we are…

Q: The following information relates to manufacturing overhead for Chapman Company: Standards: Total…

A: Variance is the technique which is being used for the purpose of determining the variations in the…

Q: Razi Company is a manufacturer of the leather belt based in Kelang, Selangor. The company estimated…

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

Q: Encinas Company produces a product that requires 6 standard pounds per unit. The standard price is…

A: Direct material price variance  (Standard Price*Actual Quantity) - (Actual Price*Actual Quantity)…

Q: Crystal Glassware Company has the following standards and flexible-budget data. 8.00 per…

A: Variance:- It means the difference between the actual and the standard, company compare actual…

Q: FUN Inc. has a fully automated production facility in which almost 97 percent of averhead costs are…

A:

Q: Oliver Enterprises has collected the following data for one of its​ products: Direct materials…

A: Given,  Actual quantity of material used = 40000 pounds Standard price = $ 0.44 per pounds  Standard…

Q: In all of the exercises involving variances, use "F" and "U" to designate favorable and unfavorable…

A: As you have posted multiple independent questions, we will answer first three sub-parts. Kindly…

Q: Shaw Company produced 860 units. Its overhead allocation base is DLH and its standard amount per…

A: Volume variance is the formula used in comparing the actual overheads with the standard set by the…

Q: Use the following information to prepare a standard cost income statement for Whitmer Company for…

A: Formula: Net profit = Revenues - expenses Deduction of expenses from revenues derives the net…

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: Fogel Company expects to produce and sell 116,000 units for the period. The company's flexible…

A: The flexible budget is prepared on the basis of standard rates and actual production data. The…

Q: The management of Earth Barber Lawnmowers has calculated the following variances: Direct materials…

A: The fixed overhead variance represents the actual overhead incurred deducted from the overhead…

Q: Smithson, Inc., manufactures lead crystal glasses. Smithson, Inc.'s managers recently calculated the…

A: Direct material cost variance This is the difference between the standard and actual cost per unit…

Q: Bellingham Company produces a product that requires 12 standard pounds per unit. The standard price…

A: Direct material cost variance = Standard Cost - Actual Cost  OR Direct material cost variance =…

Q: Franklin Manufacturing Company established the following standard price and cost data. Sales price…

A: Budget: A budget is an estimation to determine the income that will be earned and expenses that will…

Q: Simple Ltd uses variance analysis as a method of cost control. Information for the year ended 30…

A: Standard costing techniques are used for cost control purpose. In this system, standard costs and…

Q: Brookman, Inc, is a manufacturer of lead crystal glasses. The standard direct materials quantity is…

A: Direct material cost variance = Actual material cost - Standard material cost  Actual material used…

Q: The management of Earth Barber Lawnmowers has calculated the following variances: $9,000 U 35,000 F…

A: Fixed overhead  variance is the cost variance of fixed overhead

Q: Standish Company manufactures consumer products and provided the following information for the month…

A: Variance refers to a change between the expected value and the actual result. This term is usually…

Q: Juan Company’s output for the current period was assigned a $150,000 standard direct materials cost.…

A: Given is: Juan Company’s output for the current period was assigned a $150,000 standard direct…

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: The following information is available from the KANSAN CORP.: Actual factory O/H…

A: In budget planning or managerial accounting, variance analysis is the examination of differences…

Q: Fogel Company expects to produce and sell 112.000 units for the period. The company's flexible…

A: Variable cost per unit = Total budgeted variable costs / budgeted production = $156800/112000 units…

Q: LOFAT Co. uses the two-way variance analysis for overhead performance. The budgeted factory overhead…

A: Factory Overhead Applied: One kind of direct overhead expenditure is called an applied overhead, and…

Q: The following data relate to the direct materials cost for the production of 30,000 automobile…

A: Direct materials price variance = Actual Quantity x Actual Price - Actual Quantity x Standard Price…

Q: Longman, Ic., manufactures lead crystal glasses. Longman, Inc.'s managers recently calculated the…

A:

Q: Bellingham Company produces a product that requires 10 standard pounds per unit. The standard price…

A: The management use standard costing for setting future targets of operations to be achieved which…

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: The following information is available for a manufacturer. Compute the direct labor rate and…

A: Direct Labour rate variance = (Standard labour rate - Actual rate variance) * Actual labour hours…

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.