Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Bar-Gun manufactures paint. The company charges the following standard unit costs to production on the basis of static budget volume of 30,000 cans of paint
Bar-Gun manufactures paint. The company charges the following standard unit costs to production on the basis of static budget volume of 30,000 cans of paint per month: (Click the icon to view the standard unit costs to production.) Bar-Gun allocates overhead based on standard machine hours and uses the following monthly flexible budget for overhead: (Click the icon to view the monthly flexible budget for overhead.) Bar-Gun actually produced 34,000 cans of paint using 3,100 machine hours. Actual variable overhead was $16,200, and fixed overhead was $33,000. Compute the total overhead variance, the overhead flexible budget variance, and the production volume variance. - X Standard unit costs to production Identify the formula labels, and compute the total overhead variance. (Enter the result as a positive number. Label Total overhead variance: Actual overhead cost Standard overhead allocated to production Total overhead variance Identify the formula labels, and compute the overhead flexible budget variance. (Enter the result as a positive num Overhead flexible budget variance: Actual overhead cost Flexible budget overhead for actual outputs Direct materials. 2.50 Direct labour... 2.00 Manufacturing overhead Standard unit cost 1.50 $ 6.00 Print Done Overhead flexible budget variance Monthly flexible budget for overhead Identify the formula labels, and compute the production volume variance. (Enter the result as a positive r Production volume variance: Flexible budget overhead for actual outputs Standard overhead allocated to production Production volume variance Number of Outputs (cans) 27,000 30,000 2,700 3,000 34,000 3,400 Standard machine hours Budgeted manufacturing overhead cost: Variable Fixed - $ 13,500 $ 15,000 $ 30,000 17,000 30,000 30,000 Print Done
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started