Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please check my work on the above problem, thank you. 4. Standard cost system-overhead variances Assume the following data for John Company's August operations Stand
Please check my work on the above problem, thank you.
4. Standard cost system-overhead variances Assume the following data for John Company's August operations Stand overhead per direct labor hour based on normal monthly capacity of 30,000 hours Fixed $270,000 30,000 hours $9 Variable ($660,000 30,000 hours. 22 $31 Direct labor hours actually worked in August 000 hours Actual overhead costs incurred (including $270,000 fixed costs.......... $824,000 (a) Compute the amount of overhead applied to Work in-Process during August. $930,000 b) Compute the total manufacturing overhead budgeted based on hours worked during August. $868,000 (c Compute the overhead spending variance for August. Indicate whether favorable FD or unfavorable (U) si24,000 Favorable Variance (d) Compute the overhead volume variance for August. Indicate whether favorable (F) or unfavorable (U) $62,000 Unfavorable VarianceStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started