Soleil Enterprise uses regression analysis on 24 months of data.  The dependent variable is overhead costs and the independent variable is machine hours.  The coefficient of determination is 0.83. Which of the following is true?

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: 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: The standard number of hours that should have been worked for the output attained is 6,000 direct…

A: Formula: Labor Rate Variance = (Standard Labor rate per hour – Actual Labor rate per hour) X Actual…

Q: Dvorak Company produced 1,000 units of product that required 3 standard hours per unit. The standard…

A: Factory overhead volume variances:Factory overhead volume variances refers to the difference between…

Q: The data below relate to the month of November for Badong, Inc. which uses a standard cost system:…

A: Formula: Fixed overhead rate = Budgeted fixed cost / Normal activity hours

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

A:

Q: Adriana Corporation manufactures football equipment. Simple regression results from the data of…

A: We have the following information: Overhead = $217,610 + ($88.61 × Labor hours) Correlation…

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: Miss River Railroad decided to use the high-low method and operating data from the past six months…

A: working notes:   Highest activity cost = $1,143,500  Lowest activity cost = $783,900  Highest…

Q: Reddy Corporation has collected the following data for the month of June: Actual total factory…

A: Formula: Variable overhead efficiency variance = ( Standard hours - Actual hours ) x Standard rate

Q: The data below relate to the month of November for Badong, Inc. which uses a standard cost system:…

A: Labor usage variance= Actual hours * Standard rate per hour - Actual hours * Actual rate per hou

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: Doughton Bearings produces ball bearings for industrial equipment. In evaluating the financial data…

A: Answer -  Contribution margin=Sales-Variable cost

Q: Boston Railroad decided to use the high-low method and operating data from the past six months to…

A: Formula: Variable cost per Gross Ton mile = Difference in Highest and lowest activity costs /…

Q: Yohan Company has the following balances in its direct materials and direct labor variance accounts…

A: Adjusted cost of goods sold  = unadjusted cost of goods sold +/- Adjustment due to closing of…

Q: For a simple regression analysis model that is used to allocate factory overhead, an internal…

A: Overhead Cost: Overhead cost is the expense incurred in the operations of a business. This expense…

Q: Boston Railroad decided to use the high-low method and operating data from the past six months to…

A: Variable cost is the cost that changes with the change in the output. Whereas, fixed cost is the…

Q: Using simple regression to estimate factory overhead, an internal auditor finds that the line of…

A: The correct option is  $275,000

Q: data below relate to the month of November for Badong, Inc. which uses a standard cost system:…

A: Fixed overhead rate = 9,000/12,000 = 0.75 per hour Variable overhead rate = 2.25 - 0.75 = 1.50 per…

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

A: This question deals with the various concept relating to standard costing. Let's understand each…

Q: Descamps Incorporated has provided the following data concerning one of the products in its standard…

A: Variable overhead rate variance = Actual overhead - (Actual hours * Standard rate)

Q: Descamps Incorporated has provided the following data concerning one of the products in its standard…

A: Variable overheads are those indirect costs in the business that changes with change in level of…

Q: ThingOne Company has the following information available for the past year. They use machine hours…

A: Variable overhead efficiency variance = (Standard machine hours allowed for actual output - Actual…

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: Beverly Company has determined a standard variable overhead rate of $3.40 per direct labor hour and…

A:

Q: Beverly Company has determined a standard variable overhead rate of $4.00 per direct labor hour and…

A: Applied overhead = No. of units produced x labor hour per unit  x variable overhead rate = 3,500…

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: Paradise Corp. has determined a standard labor cost per unit of $14 (0.50 hour × $28 per hour). Last…

A: Direct labour costs is cost of labour directly used for production and manufacturing activity.…

Q: Feagin  Company’s  actual  variable  overhead  was  $73,000.  Actual  direct labor hours  were…

A: Formulas: Variable overhead spending variance = (standard variable overhead rate - actual variable…

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

A: Variable overhead efficiency variance= (Actual Hours - Standard Hours) X Standard Rate…

Q: What was Badong’s volume variance for November? P2,250 unfavorable P500 favorable P500 unfavorable…

A: Fixed overhead rate = P9,000 / 12000 = P0.75 per labor hour

Q: KYZ Company's accountant is estimating next period's total overhead costs (Y). She performed three…

A: The coefficient of determination, or R square explains how much of variation in one variable…

Q: The data below relate to the month of November for Badong, Inc. which uses a standard cost system:…

A: 1. Budgeted Fixed overhead rate = 9,000 / 12,000 = 0.75 2. Total Overhead Application  Rate = 2.25…

Q: Simon Corporation had a favorable direct-labor efficiency variance of P6,000 for the period just…

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

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

A: Calculate the Variance overhead efficiency variance by using the below formula:  Variance overhead…

Q: Ramona Company has the following labor-related data:   Standard labor hours for output: 15,000…

A: Given that: Standard labor hours for output: 15,000 hours Standard labor rate: $10 per hour Actual…

Q: How would i solve this problem

A: Compute the variable overhead rate and efficiency variances by indicating whether the variables are…

Q: One of Varic Company's products goes through a glazing process. The company has observed glazing…

A: Introduction:- A cost is the value of money spent on creating something or delivering a service that…

Q: Sassa Company produces and sells rattan baskets. The number of driffs produced are the corresponding…

A:

Q: ThingOne Company has the following information available for the past year. They use machine hours…

A:

Q: ThingOne Company has the following information available for the past year. They use machine hours…

A: Actual variable overhead = Actual total overhead - Actual fixed overhead = $81140-33500 = $47,640

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: Standish Company manufactures consumer products and provided the following informationfor the month…

A: Answer 1) Calculation of Total Variable Overhead Variance Total Variable overhead variance =…

Q: Cortez Company is planning to introduce a new product that will sell for $108 per unit. The…

A: Total Overhead Cost refers to those expenses that a business incurs for staying in business…

Q: Titus Company produced 6,800 units of a product that required 3 standard hours per unit. The…

A: Fixed overhead volume variance = Absorbed fixed overhead - Budgeted fixed overhead If the absorbed…

Pricing

Pricing is used as a term in finance and economics, pricing is the process of fixing a value for a product or a service. Pricing establishes a value for a product or service that the customer has to pay. A business can choose from different strategies while deciding to set prices.