Knowledge Check 01 Fiesta Inc. calculates a fixed manufacturing overhead rate based on a budgeted fixed manufacturing overhead of $270,000 and 90,000 units. During the month of September, the company actually produced 100,000 units and incurred actual fixed manufacturing overhead cost of $315,000. Calculate the fixed overhead spending variance. $45,000 favorable $45,000 unfavorable O $30,000 unfavorable O $30,000 favorable Knowledge Check 02 Flesta Inc. calculates a fixed manufacturing overhead rate based on a budgeted fixed manufacturing overhead of $270,000 and 90,000 units. During the month of September, the company actually produced 100,000 units and incurred actual fixed manufacturing overhead cost of $315,000. Calculate the fixed overhead volume variance. $25,000 unfavorable $30,000 unfavorable O $30,000 favorable O $25,000 favorable Knowledge Check 03 Creek Co. calculated its fixed overhead spending variance to be $30,000. unfavorable, Its fixed overhead volume variance amounted to $27,000, favorable. Calculate the amount of over- or underapplied fixed manufacturing overhead. $3,000 underapplied $3,000 overapplied $57.000 overapplied $57.000 underapplied Knowledge Check 04 TechnoText Inc, bases its fixed overhead rate on its practical capacity of 120,000 units per year. It budgeted to produce 100.000 units during Year 1. The budgeted fixed manufacturing overhead is $480,000. The company actually produced 110,000 units and incurred $535,000 in fixed manufacturing overhead costs. Calculate the expected capacity variance. $80,000 favorable $100,000 favorable O $80,000 unfavorable O $100,000 unfavorable Knowledge Check 03 At the end of the accounting period, all variances should be closed to to adjust the standard cost to the actual cost Cost of Goods Sold O Raw Materials Inventory O Cost Variances Work in Process Inventory Knowledge Check 04 At the end of the year, the Cost Variances account of Alpha Inc shows a debit balance of $1.700. The balance is considered the fixed overhead spending variance of $200, favorable. The total standard cost of production is $165,500. Calculate the actual cost of goods sold $163,800 $167,200 $165,500 $164,000