Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

HZT Corporation has set the following standards for its single product: standard quantity standard price direct materials 4 pounds per unit $8 per pound direct

HZT Corporation has set the following standards for its single product: standard quantity standard price direct materials 4 pounds per unit $8 per pound direct labor 5 hours per unit $12 per hour variable overhead 5 hours per unit ??? per hour The following information relates to the month of September: 1. 70,560 pounds of direct materials were purchased at a cost of $7.70 per pound. 2. The variable overhead spending variance was $7,497 favorable. 3. 14,700 units were produced. 4. 72,030 direct labor hours were worked at a total cost of $943,593. 5. The actual variable overhead cost amounted to $705,600. 6. At September 1, the direct materials inventory consisted of 3,000 pounds. At September 30, the direct materials inventory totaled 8,500 pounds. Calculate the variable overhead efficiency variance for September. If the variance is favorable, place a minus sign in front of your answer (i.e., -5000). If the variance is unfavorable, enter your answer as a number (i.e., 5000).

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

Audit Proofing Your Return

Authors: Jr. Wade, Jack Warren

1st Edition

002622240X, 978-0026222402

More Books

Students also viewed these Accounting questions

Question

Labor Productivity and Economic Growth

Answered: 1 week ago