Copa Corporations accountant left for vacation before completing the monthly cost variance report. The corporations president has
Question:
Copa Corporation’s accountant left for vacation before completing the monthly cost variance report. The corporation’s president has asked you to complete the report. The following data are available (capacities are expressed in machine hours):
Actual machine hours..............17,100
Standard machine hours allowed ......... 17,500
Actual variable overhead ............(a)
Standard variable overhead rate ..........$2.50
Variable overhead spending variance........$750 (F)
Variable overhead efficiency variance .......(b)
Actual fixed overhead ..............(c)
Budgeted fixed overhead ............$153,000
Fixed overhead budget variance ..........$1,300 (U)
Fixed overhead volume variance .........$4,500 (F)
Normal capacity in machine hours .........(d)
Standard fixed overhead rate ...........(e)
Fixed overhead applied ..............(f)
Required
Analyze the data and fill in the missing amounts.
Step by Step Answer:
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson