In relation to the total budgeted overhead: • is direct labor hours a fixed or variable? (total budgeted fixed overhead or total budgeted variable overhead) • is machine hours a fixed or variable? (total budgeted fixed overhead or total budgeted variable overhead)

In relation to the total budgeted overhead: • is direct labor hours a fixed or variable? (total budgeted fixed overhead or total budgeted variable overhead) • is machine hours a fixed or variable? (total budgeted fixed overhead or total budgeted variable overhead)

Name: In relation to the total budgeted overhead:• is direct labor hours a f
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Description: In relation to the total budgeted overhead:• is direct labor hours a fixed or variable? (total budgeted fixed overhead or total budgeted variable overhead)• is machine hours a fixed or variable? (total budgeted fixed overhead or total budgeted variab

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 21MC: The fixed factory overhead variance is caused by the difference between which of the following? A....

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Similar questions

The fixed factory overhead variance is caused by the difference between which of the following? A. actual and standard allocation base B. actual and budgeted Units C. actual fixed overhead and applied fixed overhead D. actual and standard overhead rates
The variable overhead rate variance is caused by the sum between which of the following? A. actual and standard allocation base B. actual and standard overhead rates C. actual and budgeted units D. actual units and actual overhead rates
Under variable costing, a unit of product includes which costs? direct material, direct labor, and manufacturing overhead Direct material, direct labor, and variable manufacturing overhead Direct material, direct labor, and fixed manufacturing overhead D. Direct material, direct labor, and all variable manufacturing overhead
The variable overhead efficiency variance is caused by the difference between which of the following? A. actual and budgeted units B. actual and standard allocation base C. actual and standard overhead rates D. actual units and actual overhead rates
The underlying details for the standard cost per unit are provided in a. the standard work-in-process account. b. the standard production budget. c. the standard cost sheet. d. the balance sheet. e. None of these.
What are the distinguishing characteristics of variable, fixed, and semivariable factory overhead costs?
A. Describe the two variances between the actual costs and the standard costs for factory overhead. B. What is a factory overhead cost variance report?
Why are flexible overhead budgets based on activity measures, such as hours of process time, machine time, or direct-labor hours?
In a Master Budget, where the overhead allocation rate is based on direct labor hours, the Manufacturing Overhead Rate will be a. The Variable Manufacturing Overhead divided by Total Hours of Direct Labor b. The sum of Variable and Fixed Manufacturing Overhead divided by Total Hours of Direct Labor c. Total Manufacturing Overhead Costs divided by the Direct Labor Rate d. The Variable Manufacturing Overhead Rate divided by the Direct Labor Rate
Based on the attached image, answer the following question: 1.What is the budgeted variable overhead cost rate per output unit? 2. What is the flexible-budget amount for variable manufacturing overhead?
Overheads applied are calculated by: a.OAR times the estimated cost driver activity b. Budgeted production overheads divided by the budgeted cost driver activity c.OAR times the actual cost driver activity d.Cost driver divided by the OAR
Determining the basis for applying manufacturing overhead costs involvesA. primarily the accumulation of direct labor hours since virtually all overhead costs are driven by direct labor hours.B. primarily the maintaining of accurate records of production volume since virtually all overhead costs are driven by the number of units produced.C. the determination of a measure of activity that is a causal factor in the incurrence of overhead cost.D. actual rather than budgeted levels of activity.