Accounting
27th Edition
ISBN: 9781285149165
Author: WARREN
Publisher: CENGAGE C
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Chapter 23, Problem 23.4APE
Factory
Bellingham Company produced 15,000 units of product that required 4 standard hours per unit. The standard fixed overhead cost per unit is $1.15 per hour at 58,000 hours, which is 100% of normal capacity. Determine the fixed factory overhead volume variance.
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Chapter 23 Solutions
Accounting
Ch. 23 - What are the basic objectives in the use of...Ch. 23 - What is meant by reporting by the principle of...Ch. 23 - What are the two variances between the actual cost...Ch. 23 - The materials cost variance report for Nickols...Ch. 23 - a. What are the two variances between the actual...Ch. 23 - Prob. 6DQCh. 23 - Would the use of standards be appropriate in a...Ch. 23 - a. Describe the two variances between the actual...Ch. 23 - If variances are recorded in the accounts at the...Ch. 23 - Briefly explain why firms might use nonfinancial...
Ch. 23 - Direct materials variances Bellingham Company...Ch. 23 - Direct materials variances Dvorak Company produces...Ch. 23 - Direct labor variances Bellingham Company produces...Ch. 23 - Direct labor variances Dvorak Company produces a...Ch. 23 - Factory overhead controllable variance Bellingham...Ch. 23 - Factory overhead controllable variance Dvorak...Ch. 23 - Factory overhead volume variance Bellingham...Ch. 23 - Factory overhead volume variance Dvorak Company...Ch. 23 - Standard cost journal entries Bellingham Company...Ch. 23 - Standard cost journal entries Dvorak Company...Ch. 23 - Income statement with variances Prepare an income...Ch. 23 - Income statement with variances Prepare an income...Ch. 23 - Prob. 23.7APECh. 23 - Prob. 23.7BPECh. 23 - Standard direct materials cost per unit Roanoke...Ch. 23 - Standard product cost Sana Rosa Furniture Company...Ch. 23 - Budget performance report Genie in a Botile...Ch. 23 - Direct materials variances The following data...Ch. 23 - Direct materials variances Silicone Engine Inc....Ch. 23 - Standard direct materials cost per unit from...Ch. 23 - Standard product cost, direct materials variance...Ch. 23 - Direct labor variances The following data relate...Ch. 23 - Direct labor variances La Barte Company...Ch. 23 - Direct tabor variances Greeson Clothes Company...Ch. 23 - Direct labor standards for nonmanufacturing...Ch. 23 - Direct labor standards for a service company One...Ch. 23 - Direct labor variances for a service company...Ch. 23 - Direct materials and direct labor variances At the...Ch. 23 - Flexible overhead budget Leno Manufacturing...Ch. 23 - Flexible overhead budget Wiki Wiki Company has...Ch. 23 - Factory overhead cost variances The following data...Ch. 23 - Factory overhead cost variances Blumen Textiles...Ch. 23 - Factory overhead variance corrections The data...Ch. 23 - Factory overhead cost variance report Tannin...Ch. 23 - Recording standards in accounts Cioffi...Ch. 23 - Recording standards in accounts The Assembly...Ch. 23 - Income statement indicating standard cost...Ch. 23 - Prob. 23.24EXCh. 23 - Nonfinancial performance measures Alpha University...Ch. 23 - Direct materials and direct labor variance...Ch. 23 - Flexible budgeting and variance analysis I Love My...Ch. 23 - Direct materials, direct labor, and factory...Ch. 23 - Factory overhead cost variance report Tiger...Ch. 23 - Standards for nonmanufacturing expanses Code Head...Ch. 23 - Direct materials and direct labor variance...Ch. 23 - Flexible budgeting and variance analysis Im Really...Ch. 23 - Direct materials, direct labor, and factory...Ch. 23 - Factory overhead cost variance report Feeling...Ch. 23 - Prob. 23.5BPRCh. 23 - Genuine Spice Inc. began operations on January 1...Ch. 23 - Ethics in Action Dash Riprock is a cost analyst...Ch. 23 - Communication The senior management of Tungston...Ch. 23 - Variance interpretation You have been asked to...Ch. 23 - Variance interpretation Vanadium Audio Inc. is a...
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- Standard cost summary; materials and labor cost variances Perkins Processors Inc. produces an average of 10,000 units each month. The factory standards are 20,000 hours of direct labor and 10,000 pounds of materials for this volume. The standard cost of direct labor is 9.00 per hour, and the standard cost of materials is 4.00 per pound. The standard factory overhead at this level of production is 20,000. During the current month the production and cost reports reflected the following information: On the basis of this information: 1. Prepare a standard cost summary. 2. Calculate the materials (use the materials purchase price variance) and labor cost variances, and indicate whether they are favorable or unfavorable, using the formulas on pages 421422 and 424.arrow_forwardCalculating factory overhead: two variances Munoz Manufacturing Co. normally produces 10,000 units of product X each month. Each unit requires 2 hours of direct labor, and factory overhead is applied on a direct labor hour basis. Fixed costs and variable costs in factory overhead at the normal capacity are 2.50 and 1.50 per direct labor hour, respectively. Cost and production data for May follow: a. Calculate the flexible-budget variance. b. Calculate the production-volume variance. c. Was the total factory overhead under- or overapplied? By what amount?arrow_forwardCalculating factory overhead: two variances Monrovia Manufacturing Inc. normally produces 10,000 units of product A each month. Each unit requires 4 hours of direct labor, and factory overhead is applied on a direct labor hour basis. Fixed costs and variable costs in factory overhead at the normal capacity are 10 and 5 per unit, respectively. Cost and production data for June follow: a. Calculate the flexible-budget variance. b. Calculate the production-volume variance. c. Was the total factory overhead under- or overapplied? By what amount?arrow_forward
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- Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450 hours per the standard cost card. Their employees were paid $15.75 per hour for the month of June. The standard cost card uses $15.50 as the standard hourly rate. A. Compute the direct labor rate and time variances for the month of June, and also calculate the total direct labor variance. B. If the standard rate per hour was $16.00, what would change?arrow_forwardDirect materials variances Bellingham Company produces a product that requires 2.5 standard pounds per unit. The standard price is 3.75 per pound. If 15,000 units used 36,000 pounds, which were purchased at 4.00 per pound, what is the direct materials (A) price variance, (B) quantity variance, and (C) cost variance?arrow_forwardCalculating amount of factory overhead applied to work in process The overhead application rate for a company is 2.50 per unit, made up of 1.00 for fixed overhead and 1.50 for variable overhead. Normal capacity is 10,000 units. In one month, there was an unfavorable flexible budget variance of 200. Actual overhead for the month was 27,000. What was the amount of the budgeted overhead for the actual level of production?arrow_forward
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What is variance analysis?; Author: Corporate finance institute;https://www.youtube.com/watch?v=SMTa1lZu7Qw;License: Standard YouTube License, CC-BY