The following information is available for Marigold's Hot Dogs: Actual production Budgeted production Standard direct labor...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following information is available for Marigold's Hot Dogs: Actual production Budgeted production Standard direct labor hours Actual direct labor hours Standard variable overhead rate Actual variable overhead costs 11,760 packages 12,500 packages 1.6 Variable overhead spending variance 19,887 $32,314 Variable overhead efficiency variance $2 per direct labor hour Calculate the variable overhead spending and efficiency variances. (Round answers to O decimal places, e.g. 125. If variance is zero, select "Not Applicable" and enter O for the amounts.) direct labor hours per package $ $ 6,220 4162 Favorable Unfavorable The following information is available for Marigold's Hot Dogs: Actual production Budgeted production Standard direct labor hours Actual direct labor hours Standard variable overhead rate Actual variable overhead costs 11,760 packages 12,500 packages 1.6 Variable overhead spending variance 19,887 $32,314 Variable overhead efficiency variance $2 per direct labor hour Calculate the variable overhead spending and efficiency variances. (Round answers to O decimal places, e.g. 125. If variance is zero, select "Not Applicable" and enter O for the amounts.) direct labor hours per package $ $ 6,220 4162 Favorable Unfavorable The following information is available for Marigold's Hot Dogs: Actual production Budgeted production Standard direct labor hours Actual direct labor hours Standard variable overhead rate Actual variable overhead costs 11,760 packages 12,500 packages 1.6 Variable overhead spending variance 19,887 $32,314 Variable overhead efficiency variance $2 per direct labor hour Calculate the variable overhead spending and efficiency variances. (Round answers to O decimal places, e.g. 125. If variance is zero, select "Not Applicable" and enter O for the amounts.) direct labor hours per package $ $ 6,220 4162 Favorable Unfavorable
Expert Answer:
Answer rating: 100% (QA)
To calculate the variable overhead variances we need to calculate both the spending and efficiency variances The information needed for the calculations is given in the question Lets define the terms ... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Read the case properly and answer the questionThe company x conducted benchmarking with similar companies within the same businessarea and they come to a conclusion that they are not fully realizing...
-
1. Suppose your annual income is $74,000 this year and it is expected to increase 25% next year. The market interest rate is 3%. a. Please illustrate all possible consumption patterns with a figure....
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-6. On December 12, Irene purchased the building where her store is located. She paid...
-
International Microcircuits, Inc. Megan Bedding, vice-president of sales for International Microcircuits, Inc. (IM), was delighted when IM was one of the few firms invited to enter a bid to supply a...
-
Twenty kilograms of air at 30 8C and a humidity of 90% enter a window air-conditioning unit each minute, illustrated in Fig. 11.31. The air leaves the air conditioner at 18 8C with a humidity of 40%....
-
Find a car body rail train model with two drivers at the front and back to manage the train.
-
Stock markets are merely casinos allowing speculators to get rich while doing nothing for ordinary people like you and me. Write an essay explaining why you agree or disagree with this statement.
-
The following selected information is from the Princeton Companys comparative balance sheets. The companys net income for the year ended December 31, 2013, was $ 48,000. 1. Compute the cash received...
-
Do you think its more cost effective to have one manager overseeing all of the employees in the department OR is it better to have several layers of department leadership?
-
Effective January 1, 1970, Chrysler Corporation adopted the FIFO method for inventories previously valued by the LIFO method. The 1970 annual report stated, This . makes the financial statements with...
-
(a) Draw the control chart that shows the evolution of the rate U= defects/unit (in %) in one week. If the same number of units are checked every day and the goal is 1.5%, are we achieving the...
-
What is the role of system calls in an operating system? Discuss the security implications of system calls and how operating systems mitigate potential vulnerabilities .
-
How would a US citizen, who resides in Puerto Rico, be taxed on transactions conducted during 2023 as described in Part 1? Please provide the relevant Internal Revenue Code section(s) and a brief...
-
Finance 2: A lending organization has acquired data on a sample of recent customers and is interested in building a model to predict whether or not a given customer will default on a loan. The...
-
A Campus Republicans fundraiser offers raffle tickets for $11 each. The prize for the raffle is a $300 television set, which must be purchased with the proceeds from the ticket sales. Find a function...
-
John secured employment as a commissioned salesman in July, 2021. In 2021, he received a base salary of $60,000, and $10,000 of commissions. John worked away from the office negotiating sales...
-
15. [8 marks] In the prism, P = (5, 3, 6). Determine the equation of the planes that each face of the prism lies on. a) plane PDCB b) plane EFPD c) plane ABCO d) plane ABPF e) What plane is collinear...
-
During the year land was revalued and the surplus reported as Revaluation surplus; and an asset costing 80,000, written down to 38,000, was sold for 40,000. Identify the cost of any non-current...
-
Name several advantages of using standard costs for finished goods and cost of goods sold.
-
Apex Corporation's sales forecast for its second quarter, ending June 30, indicates the following: Product Expected Sales Flop .................... 21,000 units Olap .................... 37,500 Ryke...
-
Maxx Transport Company is considering the acquisition of a new airplane at a cost of $500,000. The airplane has an estimated useful life of 10 years, but it qualifies as a 7-year property for tax...
-
What is producer surplus?
-
With a deficiency payment program, the deadweight loss is _________ than it is with an agricultural price support program when the government buys the surplus.
-
Most countries, including the United States, have _________ economies, in which the government and private sector determine the allocation of resources.
Study smarter with the SolutionInn App