Meantime Corporations accountant left for vacation before completing the monthly cost variance report. Gillian Thornton, the corporations
Question:
Meantime Corporation’s accountant left for vacation before completing the monthly cost variance report. Gillian Thornton, the corporation’s president, has asked you to complete the report. The following data are available to you (capacities are expressed in machine hours):
Actual machine hours...............20,100
Standard machine hours allowed............20,500
Actual variable overhead....................a
Standard variable overhead rate........... $2.00
Variable overhead spending variance......... $200 (F)
Variable overhead efficiency variance..........b
Actual fixed overhead.................c
Budgeted fixed overhead............$153,000
Fixed overhead budget variance............$500 (U)
Fixed overhead volume variance.............d
Normal capacity in machine hours..............e
Fixed overhead applied.................f
Required
Analyze the data and fill in the missing amounts.
Step by Step Answer:
Managerial Accounting
ISBN: 9780538742801
11th Edition
Authors: Susan V. Crosson, Belverd E. Needles