Please do not give solution in image format thanku The following data for November have been provided by Hunn Corporation, a producer of precision drills for oil exploration:Budgeted productionStandard machine-hours per drill 10.7Standard indirect labor$ 10.50$4.105,60037,050Standard powerActual productionActual machine-hoursActual indirect laborActual power5,400$ 396,570$ 145,660Indirect laborPowerdrills.machine-hoursVariable OverheadRate Varianceper machine-hourper machine-hourdrillsRequired:Compute the variable overhead rate variances for indirect labor and for power for November. Indicate whether each of the variances isfavorable (F) or unfavorable (U).machine-hours(Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).Input all amounts as positive values.)

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Description: Please do not give solution in image format thanku The following data for November have been provided by Hunn Corporation, a producer of precision drills for oil exploration:Budgeted productionStandard machine-hours per drill 10.7Standard indirect la

Variance is the difference between the estimated costs and the actual costs. If the estimated cost…

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The following data for November have been provided by Hunn Corporation, a producer of precision drills for oil exploration: Budgeted production 5,400 drills Standard machine-hours per drill 10.7 Standard indirect labor $10.50 $4.10 Standard power Actual production Actual machine-hours Actual indirect labor Actual power 5,600 37,050 Indirect labor Power $ 396,570 $ 145,660 machine-hours per machine-hour per machine-hour Variable Overhead Rate Variance drills Required: Compute the variable overhead rate variances for indirect labor and for power for November. Indicate whether each of the variances is favorable (F) or unfavorable (U). machine-hours (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

The following data for November have been provided by Hunn Corporation, a producer of precision drills for oil exploration: Budgeted production 5,400 drills Standard machine-hours per drill 10.7 Standard indirect labor $10.50 $4.10 Standard power Actual production Actual machine-hours Actual indirect labor Actual power 5,600 37,050 Indirect labor Power $ 396,570 $ 145,660 machine-hours per machine-hour per machine-hour Variable Overhead Rate Variance drills Required: Compute the variable overhead rate variances for indirect labor and for power for November. Indicate whether each of the variances is favorable (F) or unfavorable (U). machine-hours (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter9: Standard Costing: A Functional-based Control Approach

Section: Chapter Questions

Problem 3CE: Refer to Cornerstone Exercise 9.1. Guillermos Oil and Lube Company provided the following...

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