The following data are given for Harry Company: Budgeted production 1,068 units Actual production   919 units Materials:       Standard price per ounce $1.78     Standard ounces per completed unit 10     Actual ounces purchased and used in production 9,466     Actual price paid for materials $19,405 Labor:       Standard hourly labor rate $14.94 per hour     Standard hours allowed per completed unit 4.5     Actual labor hours worked 4,733     Actual total labor costs $76,911 Overhead:       Actual and budgeted fixed overhead $1,020,000     Standard variable overhead rate $28.00 per standard labor hour     Actual variable overhead costs $132,524   Overhead is applied on standard labor hours. (Round interim calculations to the nearest cent.) The direct labor rate variance is a.$6,200.23 unfavorable b.$15,126.63 unfavorable c.$15,126.63 favorable d.$6,200.23 favorable

Q: Pinnacle Corp. budgeted $253,730 of overhead cost for the current year. Actual overhead costs for…

A: The overhead is applied to the production on the basis of predetermined overhead rate.  The…

Q: The following data is given for the Bahia Company: Budgeted production 1,073 units Actual…

A: Variable factory overhead controllable variance: The difference between the actual variable overhead…

Q: Barker Company produces and sells a single product with budgeted or standard costs as follows:…

A: A cash budget is an estimate of a company's cash inflows and outflows for a given time span, such as…

Q: Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or…

A: Standard costing means where standard is set for various cost element and actual cost is then…

Q: Barker Company produces and sells a single product with budgeted or standard costs as follows:…

A: ''Since you have posted a question with multiple parts, we will solve the first three sub-parts for…

Q: Input required per unit Standard cost per unit Standard cost per unit  Direct Materials 6 kg per…

A: Budgeted hours = normal capacity x budgeted hours  per unit = 400 units x 5 hours x 12 months =…

Q: Cooper Corporation produces decorator wall coverings. Budgeted production is 240,000 square feet per…

A: Applied Manufacturing Overhead=Budgeted variable overhead×Actual labor hoursBudgeted labor…

Q: Barker Company produces and sells a single product with budgeted or standard costs as follows:…

A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…

Q: Pinnacle Corp. budgeted $267,590 of overhead cost for the current year. Actual overhead costs for…

A: working note: Factory Overhead Rate formula = Budgeted Overhead cost/ Budgeted Machine hrs =…

Q: Tharaldson Corporation makes a product with the following standard costs:     Standard Quantity or…

A: Material  price variance = (Standard price  - Actual  price) ×Actual  quantity

Q: A company using standard costing system presents the following information for the budget period:…

A: Note: Since you have posted a question with multiple sub-parts, we will solve the subparts asked by…

Q: Pinacle Corp. budgeted $700,000 of overhead cost for the current year. Actual overhead costs for the…

A: Overheads refer to the amount that is indirectly associated with the product produced in the…

Q: Sales budget for February, including net sales dollars. Production Budget, i.e., units to be…

A: “Since you have asked multiple question, we will solve the first question for you. If youwant any…

Q: Barker Company produces and sells a single product with budgeted or standard costs as follows:…

A: Part (9) Budgeted Factory Overhead cost for February    Particulars  Amount ($) Variable…

Q: The budgeted and actual costs at Goodyear Company is as follows: Budgeted costs Materials (per…

A: Computation of the direct material quantity variance is as follows:

Q: The following data are given for Harry Company: Budgeted production 26,000 units Actual production…

A: Variance analysis: It is the technique in budgeting that allows for analysis of the variances…

Q: Majer Corporation makes a product with the following standard costs:     Standard Quantity or…

A: Formula: Standard direct labor hours = Actual output units x Standard direct labor per hour variable…

Q: ngel Corporation makes a product with the following standard costs:     Standard Quantity or Hours…

A: Variance: When the actual cost differs from the standard cost(budgeted cost), it is called variance.…

Q: he following data are given for Bahia Company: Budgeted production 1,032 units Actual production…

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

Q: WPC Company's Budget and actual costs per unit are provided below for the most recent period. During…

A: Since you have asked multiple subparts we will answer the first three sub-parts for you as per the…

Q: The following data are from actual results of Dhiumano Foods Corporation: Actual output 14,550 cases…

A: Variable overhead rate variance::SRR/hour*Actual Hours------Actual Overhead…

Q: Rafner Manufacturing identified the following budgeted data in its two production departments.…

A: Overhead are those expenses which is incurred during the production of any product. it will be…

Q: The following data pertains to the month of October for ElmCo. when production was budgeted to be…

A: Variable overhead spending variance is the difference between actual variable overhead assigned and…

Q: The following describes production activities of Mercer Manufacturing for the year. Actual direct…

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

Q: Tharaldson Corporation makes a product with the following standard costs: Standard Quantity Standard…

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

Q: Pinnacle Corp. budgeted $260,140 of overhead cost for the current year. Actual overhead costs for…

A: The predetermined overhead rate is calculated as estimated overhead cost divided by estimated…

Q: The following data are available for ABC Corp: Budgeted Overhead is 100,000; Budgeted Direct labor…

A: The cost of goods manufactured includes the cost of goods that are manufactured during the period.

Q: Barker Company produces and sells a single product with budgeted or standard costs as follows:…

A: 1. Deals spending plan fr Feb 1200 unts. Net $ deals = units * revnue pr unt = 1200 * $1000 =…

Q: Tharaldson Corporation makes a product with the following standard costs:     Standard Quantity or…

A: Variable Overhead Rate Variance: = (Actual hours * Budgeted Overhead per hour) - Actual Overheads

Q: Pinnacle Corp. budgeted $245,500 of overhead cost for the current year. Actual overhead costs for…

A: The formula for Factory Overhead rate= Budgeted Overhead Cost /  Budgeted Overhead hours

Q: Tharaldson Corporation makes a product with the following standard costs: Standard Standard Quantity…

A: Direct Labour per hour = $17 per hour Actual direct labor hours = 480 hours Actual direct labor cost…

Q: Pinnacle Corp. budgeted $218,050 of overhead cost for the current year. Actual overhead costs for…

A: Plantwide factory overhead rate  = Budgeted overhead cost/Budgeted machine hours

Q: The following information pertains to Trenton Glass Works for the year just ended. Budgeted…

A: When the expenses incurred are less than the budgeted expense, it is said to be overhead overapplied…

Q: the following information is available for the month of july  1…

A: A company prepares the budget so as to check what costs will be incurred for the desired units…

Q: The following information was taken from the annual manufacturing overhead cost budget of Fergie…

A: Total overhead  rate =( variable  manufacturing overhead  + fixed manufacturing overhead)/labor…

Q: Starts Inc. using production levels of 62,100, 65,200, and 68,300 units produced. The following…

A: Flexible budget is a type of budget in which amounts of budgets changes with change in activity or…

Q: Pinnacle Corp. budgeted $226,430 of overhead cost for the current year. Actual overhead costs for…

A: Given,  Budgeted overhead cost = $226,340 Actual overhead cost = $213,870 Budgeted machine hours =…

Q: Input required per unit Standard cost per unit Standard cost per unit  Direct Materials 6 kg per…

A: Variable overhead efficiency variance is a variance between the actual hour that should be taken to…

Q: Antuan Company set the following standard costs per unit for its product. $ 12.00 Direct materials…

A: Detailed overhead variance report :-

Q: The following data is given for the Bahia Company: Budgeted production 1,038 units Actual…

A: Variable Factory Overhead Controllable Variance = (Std VOH Cost - Actual VOH Cost) Actual Variable…

Q: A company makes a product with the following standard costs: Standard Quantity or Standard Cost Per…

A: A company will incur various costs to earn revenue. The costs can be either direct or indirect costs…

Q: Fordham Corporation produces a single product. Monthly budgeted production is 4,200 units and the…

A: Formula:

Q: Tharaldson Corporation makes a product with the following standard costs: Standard Standard Quantity…

A: Labour efficiency variance in the business means difference is actual cost of labour and budgeted…

Q: Compute the dollar amount of Direct Material "A" to be used in production during the year, given the…

A: Budget is a financial plan exhibiting the expected costs related to running a business or…

Q: The Gathering Sound, Inc. collected the following data regarding production of one of its products.…

A: Fixed overhead volume variance = Budgeted Fixed Overhead - Applied Fixed Overhead Standard Hours for…

Q: The Ring The Bells, Co. collected the following data regarding production of one of its products.…

A: Variable overhead cost variance  = Actual variable overhead - standard overhead for actual output

Q: Starts Inc. using production levels of 62,000, 67,200, and 69,300 units produced. The following…

A: Starts Inc. company's  Production levels are 1. 62000 units 2. 67200 units 3. 69300 units Production…

Q: The following data pertain to the current year: Budgeted manufacturing overhead:…

A: Overhead is the indirect material or labor or any other cost which can not be applied to any…

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.