Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output Actual

image text in transcribedimage text in transcribed

Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate Standard quantity of direct labor Budgeted fixed overhead Budgeted output Actual results for April are as follows: Actual output $ 17 per direct-labor hour 2.0 hours per unit of output $380,000 29,000 units 19,200 units Actual variable overhead $917,280 Actual fixed overhead Actual direct labor $331,000 50,400 hours Required: Use the following diagrams below (similar to Exhibit 11-6 and Exhibit 11-8 to compute (1) the variable-overhead spending and efficiency varlances, and (2) the fixed-overhead budget and volume variances. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the fixed-overhead budget and volume variances. (Round your "per hour" rate answers to 2 decimal places. Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).) (1) Actual Fixed Overhead Favorable Fixed-Overhead Budget And Volume Variances (Hours = Direct-Labor Hours) (2) Budgeted Fixed Overhead (3) Fixed Overhead Applied To Work In Process Standard Allowed Hours hours Unfavorable Fixed-overhead budget variance Fixed-overhead volume variance Standard Fixed- Overhead Rate per hour

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Intermediate Accounting

Authors: David Spiceland

11th Edition

1264134525, 9781264134526

Students also viewed these Accounting questions