1. Factory Overhead Volume Variance

Venneman Company produced 14,000 units of product that required 4 standard hours per unit. The standard fixed overhead cost per unit is $0.95 per hour at 55,000 hours, which is 100% of normal capacity. Determine the fixed factory overhead volume variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. $_________ Favorable

2. Factory Overhead Volume Variance

Encinas Company produced 2,300 units of product that required 3 standard hours per unit. The standard fixed overhead cost per unit is $1.20 per hour at 7,100 hours, which is 100% of normal capacity. Determine the fixed factory overhead volume variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. $_________ Unfavorable

3. Journalize Standard Cost Entries

Encinas Company produced 2,300 units that require 6 standard pounds per unit at $1.75 standard price per pound. The company actually used 13,600 pounds in production.

Journalize the entry to record the standard direct materials used in production. If an amount box does not require an entry, leave it blank.

	Work in Process	fill in the blank 2	fill in the blank 3
	Direct Materials Quantity Variance	fill in the blank 5	fill in the blank 6
	Materials	fill in the blank 8	fill in the blank 9