At the beginning of the year, Concord Company had budgeted $41,400 for its variable-MOH costs, based...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
At the beginning of the year, Concord Company had budgeted $41,400 for its variable-MOH costs, based on budgeted production of 460 units. Since the company had recently made significant investments in processing automation, it used machine hours to allocate MOH costs. Each unit was expected to use 5 machine hours of processing time. By the end of the year, Concord had used 2,185 machine hours and had accumulated total variable-MOH costs of $42,389 to process 495 units. Calculate Concord's variable-MOH price and efficiency variances. Variable-MOH price variance Variable-MOH efficiency variance $ At the beginning of the year, Concord Company had budgeted $41,400 for its variable-MOH costs, based on budgeted production of 460 units. Since the company had recently made significant investments in processing automation, it used machine hours to allocate MOH costs. Each unit was expected to use 5 machine hours of processing time. By the end of the year, Concord had used 2,185 machine hours and had accumulated total variable-MOH costs of $42,389 to process 495 units. Calculate Concord's variable-MOH price and efficiency variances. Variable-MOH price variance Variable-MOH efficiency variance $
Expert Answer:
Answer rating: 100% (QA)
To calculate Concord Companys variableMOH price variance we need to compare the actual variableMOH r... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
LLJ Satellites: Variance Analysis and Budgeting Jack Childs is nervous about his company's future performance. The Childs family own 40% of the shares of LLJ Satellites, and generally has control...
-
The Thompson Toy Company manufactures toy building block sets for children. Thompson is planning for 2017 by developing a master budget by quarters. Thompsons balance sheet for December 31, 2016,...
-
Sue invested $15,000 in the ABC Limited Partnership and received a 10 percent interest in the partnership The partnership had $40,000 of qualified nonrecourse debt and $40,000 of debt she is not...
-
Advertising plays a major role in the ______________ stage of the product life cycle, and_______________ plays a major role in the maturity stage.
-
Down the Pole a fireman of mass m slides a distance d down 8 poles he starts from rest. Removes as fast at the bottom as if he had stepped off a platform a distance h s d shoves the ground and...
-
Rather than the linear relationship of Eq. (1.7), you might choose to model the upward force on the parachutist as a second-order relationship, F U = c v 2 where c = second-order drag coefficient...
-
Baldwin Realty, Inc., had the following transactions for the month of May, 2010. The following T-accounts have been set up, for Baldwin Realty, Inc., with their beginning balances as of May 1,2010....
-
Waterworks, Inc. makes plastic water bottles that are used by various beverage makers. Demand for bottles was so high during the year that the company made 255,000 bottles, 15,000 more than budgeted....
-
1) To encourage local production and employment, the government provides employment subsidies to firms. For every working hour employed in a firm, the government provides $5 dollars in subsidies. a....
-
At time t = 0, the baseball player releases a ball with the initial conditions shown in the figure. Determine the quantities r, r, r, , , and , all relative to the x-y coordinate system shown, at...
-
3. Find the linear convolution if x(n)= {1,2,-1,3} and h(n)={1,2,1} 4. Find the cross correlation if x(n)= {1,2,-2,3} and y(n)={1,2,2} ? 5. Find the even and odd component of x (n)=...
-
(a) Among 880 smart phones sold by a retailer, 72 required repairs under the warranty. Estimate the probability that a new phone, which has just been sold, will require repairs under the warranty....
-
A car rental agency has 19 compact cars and 12 intermediate-size cars. If four of the cars are randomly selected for a safety check, what is the probability of getting two of each kind?
-
How many ways can a company select 4 candidates to interview from a short list of 12 engineers?
-
The probabilities that a TV station will receive \(0,1,2,3, \ldots, 8\) or at least 9 complaints after showing a controversial program are, respectively,...
-
A rotary plug valve needs to be replaced to repair a machine, and the probabilities that the replacement will be a flange style (low pressure), flange style (high pressure), wafer style, or lug style...
-
What is the modified Duration of zero coupon bond portfolio? (4.687) Maturity (year) 6 4 5 Type Zero coupon Zero coupon Zero coupon Position Long Long Short Market Value 4M 5M 3M Price 661.783...
-
An interest bearing promissory note for 90 days at 5.6% p.a. has a face value of $120,000. If the note is discounted 20 days after the issue date at a rate of 6.8% p.a., calculate the amount of...
-
On January 1, 2009, Plexon acquired 75% of the shares of Jayden for $40,000. The following balances appeared in the records of Jayden at this date: Share capital......... $20,000 Retained...
-
In making consolidated nancial statement adjustments, sometimes tax-effect adjustments are made. Why?
-
Parent has one subsidiary, Subsidiary; one associate, Associate; and one joint venture, Joint Venture. Subsidiary has one associate, Sub-associate. Information about the companies for the year ended...
-
Prove that the constant \(a\) in Eq. (8.82) is positive for common boundary conditions. c dW(x) W(x) dx4 = 1 dT(t) T(t) dt = a = w (8.82)
-
Find the response of a simply supported beam subject to a uniformly distributed harmonically varying load.
-
A cantilever beam of length \(l\), density \(ho\), Young's modulus \(E\), area of cross section \(A\), and area moment of inertia \(I\) carries a concentrated mass \(M\) at its free end. Derive the...
Study smarter with the SolutionInn App