Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Just need some help on this please I will rate! Many thanks and God bless!!! The following information relates to Brookman, Inc.'s overhead costs for

image text in transcribed

Just need some help on this please

I will rate!

Many thanks and God bless!!!

The following information relates to Brookman, Inc.'s overhead costs for the month: (Click the icon to view the information.) Requirements 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. 2. Explain why the variances are favorable or unfavorable. Requirement 1. Compute the overhead variances for the month: variable overhead cost variance, variable overhead efficiency variance, fixed overhead cost variance, and fixed overhead volume variance. Begin by selecting the formulas needed to compute the variable overhead (VOH) and fixed overhead (FOH) variances, and then compute each variance amount. VOH cost variance = VOH efficiency variance = FOH cost variance = FOH volume variance Data Table Static budget variable overhead $ 7,200 Static budget fixed overhead $ 3,600 Static budget direct labor hours 1,200 hours Static budget number of units 2,400 units Brookman allocates manufacturing overhead to production based on standard direct labor hours. Last month, Brookman reported the following actual results: actual variable overhead, $10,100; actual fixed overhead, $2,800; actual production of 7,400 units at 0.30 direct labor hours per unit. The standard direct labor time is 0.5 direct labor hours per unit (1,200 static direct labor hours / 2,400 static units). Print Print Done

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

Accounting

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

28th Edition

9781337902687

Students also viewed these Accounting questions