Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Buis Corporation, which makes landing gears, has provided the following data for a recent month: Budgeted production 2,300 gears Standard machine-hours per gear 6.0 machine-hours

Buis Corporation, which makes landing gears, has provided the following data for a recent month:

Budgeted production 2,300 gears
Standard machine-hours per gear 6.0 machine-hours
Budgeted supplies cost $6.60 per machine-hour
Actual production 1,200 gears
Actual machine-hours 7,800 machine-hours
Actual supplies cost (total) $49,852
Required:

Determine the rate and efficiency variances for the variable overhead item supplies and indicate whether those variables are favorable or unfavorable.(Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.)

Variable overhead rate variance ???$ (Click to select)FUNone???
Variable overhead efficiency variance ???$ (Click to select)FUNone???

Please fill in the answers for where I put the Bolded "???" at. Sometimes when I post on here, the answers are a little confusing to follow. If possible, just copy and paste the bottom table and insert the answers where the "???" are. Thank You. (This is the 3rd time im posting this, the first two expert answers were different)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Financial Auditing

Authors: Athmane Mokhbi

1st Edition

B09LGTJJFG, 979-8763532265

More Books

Students also viewed these Accounting questions