Refer to the information for Gotta Cotta in PB 10-5. Required: Compute the following for Gotta Cotta:

Question:

Refer to the information for Gotta Cotta in PB 10-5.

Required:
Compute the following for Gotta Cotta:
1. Fixed overhead spending variance

2. Fixed overhead volume variance.

3. Over or underapplied fixed manufacturing overhead.

Data from PB10-5

Gotta Cotta, Inc., manufactures basic terra cotta planters. Its standard cost information for the past year follows:

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Gotta Cotta has the following actual results for the past year:

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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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Refer to the information for Gotta Cotta in PB 10-5. Required: Compute the following for Gotta Cotta:

Question:

Direct costs Clay Direct labor Variable manufacturing overhead Fixed manufacturing overhead ($480,000/800,000 units) Standard Quantity Standard Price (Rate) Standard Unit Cost 2 lbs. $ 0.80 per lb. $1.60 0.5 hr. 12.00 per hr. 6.00 0.40 per direct labor hour 0.20 0.60

Step by Step Answer:

Certainly based on the information provided for Gotta Cotta we can calculate the following Fixed Overhead Spending Variance FOSV Formula Actual Fixed Overhead Cost Budgeted Fixed Overhead Cost Actual ...View the full answer

Managerial Accounting

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