Catch a Wave Company manufactures surfboards Its standard cost information follows Catch a Wave has the following actual results for the month of June Required Calculate the following variances for Catch a Wave 1 Variable overhead rate variance 2 Variable overhead efficiency variance 3 Total over o...

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Catch a Wave Company manufactures surfboards. Its standard cost information follows. Catch a Wave has the following

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Catch a Wave Company manufactures surfboards. Its standard cost information follows.

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Catch a Wave has the following actual results for the month of June:

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Required:
Calculate the following variances for Catch a Wave.

1. Variable overhead rate variance.

2. Variable overhead efficiency variance.

3. Total over- or underapplied variable overhead.

4. Fixed overhead spending (budget) variance.

5. Fixed overhead volume variance.

6. Total over- or underapplied fixed overhead.

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Managerial Accounting

ISBN: 9780078110771

1st Edition

Authors: Stacey WhitecottonRobert LibbyRobert Libby, Patricia LibbyRobert Libby, Fred Phillips

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Question Posted: May 15, 2024 08:03 AM

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Catch a Wave Company manufactures surfboards. Its standard cost information follows. Catch a Wave has the following

Question:

Direct costs Fiberglass Direct labor Variable manufacturing overhead Fixed manufacturing overhead ($20,000/250 units) Standard Quantity Standard Price (Rate) Standard Unit Cost 15 sq. ft. $ 5 per sq. ft. $ 75.00 10 hr. 15 per hr. 150.00 6 per direct labor hour 60.00 80.00

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Managerial Accounting

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