Thomas Textiles Corporation began November with a budget for 41,000 hours of production in the Weaving Department. The department has a full capacity of 55,000 hours under normal business conditions The budgeted overhead at the planned volumes at the beginning of November was as follows: Variable overhead $114,800 Fixed overhead 82,500 Total $197,300 The actual factory overhead was $199,700 for November. The actual fixed factory overhead was as budgeted. During November, the Weaving Department had standard hours at actual production volume of 43,000 hours. Determine the variable factory overhead controllable variance and the fixed factory overhead volume variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable varian as a positive number. Round your interim computations to the nearest cent, if required. a. Variable factory overhead controllable variance: $ Favorable v b. Fixed factory overhead volume variance: $ Unfavorable v

Thomas Textiles Corporation began November with a budget for 41,000 hours of production in the Weaving Department. The department has a full capacity of 55,000 hours under normal business conditions The budgeted overhead at the planned volumes at the beginning of November was as follows: Variable overhead $114,800 Fixed overhead 82,500 Total $197,300 The actual factory overhead was $199,700 for November. The actual fixed factory overhead was as budgeted. During November, the Weaving Department had standard hours at actual production volume of 43,000 hours. Determine the variable factory overhead controllable variance and the fixed factory overhead volume variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable varian as a positive number. Round your interim computations to the nearest cent, if required. a. Variable factory overhead controllable variance: $ Favorable v b. Fixed factory overhead volume variance: $ Unfavorable v

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 16E: Thomas Textiles Corporation began November with a budget for 60,000 hours of production in the...

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