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8-33 Overhead variance, missing information Consider the following situations-cases A and B-independenly. Data refer to operations for April 2014. For each situation, asumme standard costing.
8-33 Overhead variance, missing information
Consider the following situations-cases A and B-independenly. Data refer to operations for April 2014. For each situation, asumme standard costing. Also assume the use of a flexible budget for control of variable and fixed manufacturing overhead based on machine-hours.
Fill in the blanks under each case.
Cases | |||||||||
A | B | ||||||||
1 | Fixed manufacturing overhead incurred | 84,920 | $123,800 | ||||||
2 | Variable manufacturing overhead incurred | 120,400 | - | ||||||
3 | Denominator level in machine-hours | - | 1,000 | ||||||
4 | Standard machine-hours allowed for actual output achieved | 6,200 | - | ||||||
5 | Fixed manufacturing overhead (per standard machine-hour) | - | - | ||||||
Flexible-Budget Data: | |||||||||
6 | Variable manufacturing overhead (per standard machine-hour) | - | $42.00 | ||||||
7 | Budgeted fixed manufacturing overhead | 88,200 | $20,000 | ||||||
8 | Budgeted variable manufacturing overhead | - | - | ||||||
9 | Total budgeted manufacturing overhead | - | - | ||||||
Additional Data: | |||||||||
10 | Standard variable manufacturing overhead allocated | 124,000 | - | ||||||
11 | Standard fixed manufacturing overhead allocated | 86,800 | - | ||||||
12 | Production-volume variance | - | $4,000 F | ||||||
13 | Variable manufacturing overhead spending variance | $5,000 F | $2,200 F | ||||||
14 | Variable manufacturing overhead efficiency variance | $2,478 F | |||||||
15 | Fixed manufacturing overhead spending variance | - | |||||||
16 | Actual machine-hours used | - |
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