Compute the standard cost card with variable manufacturing overhead per unit and the fixed manufacturing overhead per unit. Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

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Answer 1

Question

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Chapter 10A, Problem 10A.11P

1

To determine

Compute the standard cost card with variable manufacturing overhead per unit and the fixed manufacturing overhead per unit.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

2

To determine

Compute the materials price and quantity variances with labor rate and efficiency variance.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

3

To determine

Compute the variable overhead rate and efficiency variance with fixed overhead budget and volume variance.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

4

To determine

Compute the denominator activity level that have on unit standard costs. State whether volume variance is controllable variance from spending point of view.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

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Students have asked these similar questions

Assume that a company uses a standard cost system and applies overhead to production based on direct labor-hours. It provided the following information for its most recent year: Total budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted direct labor-hours Actual direct labor-hours Standard direct labor-hours allowed for the actual output What is the fixed overhead volume variance? Multiple Choice O $20,000 U $20,000 F $9,000 U $9,000 F $ 300,000 $ 276,000 60,000 56,000 58, 200

8.Hithlum Inc. uses a standard cost system. Overhead cost information for product SK for the month of May is as follows: Total overhead cost incurred P12,600 Fixed overhead budgeted P 3,300 Total standard overhead rate per direct labor hour P 4.00 Variable overhead rate per direct labor hours P 3.00 Standard hours allowed for actual production 3,500What is the overall overhead variance?

For the month of August, M Company’s records disclosed the following data relating to direct labor: Actual direct labor cost P10,000 Rate variance 1,000 F Efficiency variance 1,500 U Standard direct labor cost P9,500 For the month of August, M used 2,000 direct labor hours. The company’s standard direct labor rate per hour is: Group of answer choices P5.50 P4.75 P4.50 P5.00

Answer 2

Question

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Chapter 10A, Problem 10A.11P

1

To determine

Compute the standard cost card with variable manufacturing overhead per unit and the fixed manufacturing overhead per unit.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

2

To determine

Compute the materials price and quantity variances with labor rate and efficiency variance.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

3

To determine

Compute the variable overhead rate and efficiency variance with fixed overhead budget and volume variance.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

4

To determine

Compute the denominator activity level that have on unit standard costs. State whether volume variance is controllable variance from spending point of view.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

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Answer 3

Question

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Chapter 10A, Problem 10A.11P

1

To determine

Compute the standard cost card with variable manufacturing overhead per unit and the fixed manufacturing overhead per unit.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

2

To determine

Compute the materials price and quantity variances with labor rate and efficiency variance.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

3

To determine

Compute the variable overhead rate and efficiency variance with fixed overhead budget and volume variance.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

4

To determine

Compute the denominator activity level that have on unit standard costs. State whether volume variance is controllable variance from spending point of view.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

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Answer 4

Question

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Chapter 10A, Problem 10A.11P

1

To determine

Compute the standard cost card with variable manufacturing overhead per unit and the fixed manufacturing overhead per unit.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

2

To determine

Compute the materials price and quantity variances with labor rate and efficiency variance.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

3

To determine

Compute the variable overhead rate and efficiency variance with fixed overhead budget and volume variance.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

4

To determine

Compute the denominator activity level that have on unit standard costs. State whether volume variance is controllable variance from spending point of view.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

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Answer 5

Chapter 10A, Problem 10A.11P

1

To determine

Compute the standard cost card with variable manufacturing overhead per unit and the fixed manufacturing overhead per unit.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

2

To determine

Compute the materials price and quantity variances with labor rate and efficiency variance.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

3

To determine

Compute the variable overhead rate and efficiency variance with fixed overhead budget and volume variance.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

4

To determine

Compute the denominator activity level that have on unit standard costs. State whether volume variance is controllable variance from spending point of view.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

Answer 6

Chapter 10A, Problem 10A.11P

1

To determine

Compute the standard cost card with variable manufacturing overhead per unit and the fixed manufacturing overhead per unit.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

Answer 7

Chapter 10A, Problem 10A.11P

1

To determine

Compute the standard cost card with variable manufacturing overhead per unit and the fixed manufacturing overhead per unit.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

Answer 8

2

To determine

Compute the materials price and quantity variances with labor rate and efficiency variance.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

Answer 9

2

To determine

Compute the materials price and quantity variances with labor rate and efficiency variance.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

Answer 10

3

To determine

Compute the variable overhead rate and efficiency variance with fixed overhead budget and volume variance.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

Answer 11

3

To determine

Compute the variable overhead rate and efficiency variance with fixed overhead budget and volume variance.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

Answer 12

4

To determine

Compute the denominator activity level that have on unit standard costs. State whether volume variance is controllable variance from spending point of view.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

Answer 13

4

To determine

Compute the denominator activity level that have on unit standard costs. State whether volume variance is controllable variance from spending point of view.

Introduction: Standard costing means the accounting system which is used by manufacturers mainly to identify variances or difference that occur in cost. The difference is identified between actual cost of goods that were manufactured and those cost which should have occurred when actual goods were manufactured.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 10A - Fixed Overhead Variances LO10â€”4 Primara...Ch. 10A - Prob. 10A.2E Ch. 10A - Prob. 10A.3E Ch. 10A - Prob. 10A.4E Ch. 10A - Prob. 10A.5E Ch. 10A - Prob. 10A.6E Ch. 10A - Prob. 10A.7E Ch. 10A - Applying Overhead; Overhead Variances LO10â€”3,...Ch. 10A - Prob. 10A.9P Ch. 10A - Comprehensive Standard Cost Variances LO10â€”1,...

Solution Summary: The author explains that standard costing is used by manufacturers to identify variances or difference that occur in cost. The materials price is 9,600 unfavorable with labor rate is 5,800 favorable.

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