{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-29T02:13:17-04:00", "answer_date": "2024-06-29 02:13:17", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4446479", "url": "\/study-help\/questions\/good-deal-inc-uses-a-standard-cost-system-and-provides-4446479", "question_creation_date_js": "2024-06-29T02:13:17-04:00", "question_creation_date": "Jun 29, 2024 02:13 AM", "meta_title": "[Solved] Good Deal, Inc. uses a standard cost syst | SolutionInn", "meta_description": "Answer of - Good Deal, Inc. uses a standard cost system and provides the following information. (Click the icon to view the inform | SolutionInn", "meta_keywords": "good,deal,inc,standard,cost,system,provides,information,click,icon,view,allocates", "question_title_h1": "Good Deal, Inc. uses a standard cost system and provides the following information. (Click the icon to view the information.) Good Deal allocates manufacturing overhead", "question_title": "Good Deal, Inc. uses a standard cost system and provides the following", "question_title_for_js_snippet": "Good Deal, Inc uses a standard cost system and provides the following information (Click the icon to view the information ) Good Deal allocates manufacturing overhead to production based on standard direct labor hours Good Deal reported the following actual results for 2024 actual number of units produced, 1,000 actual variable overhead, $2,500 actual fixed overhead, $3,200 actual direct labor hours, 1,200 Read the requirements Requirement 1 Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances Begin with the variable overhead cost and efficiency variances Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U) (Abbreviations used AC actual cost AQ actual quantity FOH fixed overhead SC standard cost SQ standard quantity VOH variable overhead ) Formula Variance VOH cost variance VOH efficiency variance Good Deal, Inc uses a standard cost system and provides the following information (Click the icon to view the information ) Good Deal allocates manufacturing overhead to production based on standard direct labor hours Good Deal reported the following actual results for 2024 actual number of units produced, 1,000 actual variable overhead, $2,500 actual fixed overhead, $3,200 actual direct labor hours, 1,200 Read the requirements X Data table Requirement 1 Compute the variable Begin with the variable overhead cost a Static budget variable overhead $2, 100 ost and efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U) (Abbreviations used standard quantity VOH variable overhead ) Static budget fixed overhead $2,800 Static budget direct labor hours 1,400 hours VOH cost variance Static budget number of units 700 units VOH efficiency variance Standard direct labor hours 2 hours per unit Print DoneGood Deal, Inc uses a standard cost system and provides the following information (Click the icon to view the information ) Good Deal allocates manufacturing overhead to production based on standard direct labor hours Good Deal reported the following actual results for 2024 actual number of units produced, 1,000 actual variable overhead, $2,500 actual fixed overhead, $3,200 actual direct labor hours, 1,200 Read the requirements Requirement 1 Compute the X Begin with the variable overhe Requirements efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U) (Abbreviation d quantity VOH variable overhead ) 1 Compute the variable overhead cost and efficiency variances and fixed VOH cost variance overhead cost and volume variances VOH efficiency variance 2 Explain why the variances are favorable or unfavorable Print Done", "question_description": "
\"image\"image\"image<\/div><\/div><\/div><\/figure> Good Deal, Inc. uses a standard cost system and provides the following information. (Click the icon to view the information.) Good Deal allocates manufacturing overhead to production based on standard direct labor hours. Good Deal reported the following actual results for 2024: actual number of units produced, 1,000; actual variable overhead, $2,500; actual fixed overhead, $3,200; actual direct labor hours, 1,200. Read the requirements. Requirement 1. Compute the variable overhead cost and efficiency variances and fixed overhead cost and volume variances. Begin with the variable overhead cost and efficiency variances. Select the required formulas, compute the variable overhead cost and efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: AC = actual cost; AQ = actual quantity; FOH = fixed overhead; SC = standard cost; SQ = standard quantity; VOH = variable overhead.) Formula Variance VOH cost variance VOH efficiency variance =Good Deal, Inc. uses a standard cost system and provides the following information. (Click the icon to view the information.) Good Deal allocates manufacturing overhead to production based on standard direct labor hours. Good Deal reported the following actual results for 2024: actual number of units produced, 1,000; actual variable overhead, $2,500; actual fixed overhead, $3,200; actual direct labor hours, 1,200. Read the requirements. - X Data table Requirement 1. Compute the variable Begin with the variable overhead cost a Static budget variable overhead $2, 100 ost and efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviations used: = standard quantity; VOH = variable overhead.) Static budget fixed overhead $2,800 Static budget direct labor hours 1,400 hours VOH cost variance Static budget number of units 700 units VOH efficiency variance = Standard direct labor hours 2 hours per unit Print DoneGood Deal, Inc. uses a standard cost system and provides the following information. (Click the icon to view the information.) Good Deal allocates manufacturing overhead to production based on standard direct labor hours. Good Deal reported the following actual results for 2024: actual number of units produced, 1,000; actual variable overhead, $2,500; actual fixed overhead, $3,200; actual direct labor hours, 1,200. Read the requirements. Requirement 1. Compute the - X Begin with the variable overhe Requirements efficiency variances, and identify whether each variance is favorable (F) or unfavorable (U). (Abbreviation d quantity; VOH = variable overhead.) 1. Compute the variable overhead cost and efficiency variances and fixed VOH cost variance overhead cost and volume variances. VOH efficiency variance 2. Explain why the variances are favorable or unfavorable. Print Done", "transcribed_text": "", "related_book": { "title": "Principles Of Finance", "isbn": "979-8439388899", "edition": "1st Edition", "authors": "Julie Dahlquist, Rainford Knight", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/6290aa2348f9a_11251.jpg", "uri": "\/textbooks\/principles-of-finance-1st-edition-9798439388899", "see_more_uri": "" }, "free_related_book": { "isbn": "978-0750698306", "uri": "\/textbooks\/using-ibm-spss-statistics-for-research-methods-and-social-science-statistics-1st-edition-9780750698306", "name": "Practical Applications In Criminal Justice Statistics", "edition": "1st Edition" }, "question_posted": "2024-06-29 02:13:17", "see_more_questions_link": "\/study-help\/questions\/business-economics-2023-September-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/estimate-the-total-binding-energy-copper-and-then-estimate-the", "description": "Estimate the total binding energy copper and then estimate the energy, in joules, needed to break a 3.0-g copper penny into its constituent nucleons.", "stars": 3 }, { "url": "\/study-help\/psychology\/recognize-the-causes-and-symptoms-of-stress-1982702", "description": "Recognize the causes and symptoms of stress.", "stars": 3 }, { "url": "\/study-help\/questions\/dryice-inc-is-a-manufacturer-of-air-conditioners-that-has-58806", "description": "DryIce Inc., is a manufacturer of air conditioners that has seen its demand grow significantly. 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