Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bullseye Company manufactures dartboards. Its standard cost information follows: Direct materials (cork board). Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed

image text in transcribedimage text in transcribed

Bullseye Company manufactures dartboards. Its standard cost information follows: Direct materials (cork board). Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($12,450/83,000) Standard Unit Cost $ 1.96. 10.50 Standard Quantity 1.40 sq. ft. 0.70 hrs. Standard Price (Rate) $1.40 per sq. ft. $15.00 per hr. 0.70 hrs. $ 0.40 per hr. 0.28 0.15 Bullseye has the following actual results for the month of September: Number of units produced and sold Number of square feet of corkboard used Cost of corkboard used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 72,000 107,800 $113,400 79,000 $170,000 $176,720 $ 33,000 Required: 1. Calculate the fixed overhead spending variance for Bullseye. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) 2. Calculate the fixed overhead volume variance for Bullseye. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) 3. Calculate the total over- or underapplied fixed manufacturing overhead for Bullseye. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)

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_2

Step: 3

blur-text-image_3

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

Managerial Accounting

Authors: Ray Garrison, Theresa Libby, Alan Webb

9th canadian edition

1259269477, 978-1259269479, 978-1259024900

More Books

Students also viewed these Accounting questions