{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-29T02:35:56-04:00", "answer_date": "2024-06-29 02:35:56", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4450118", "url": "\/study-help\/questions\/please-provide-full-solutions-with-explainations-prepare-fully-labeled-variance-4450118", "question_creation_date_js": "2024-06-29T02:35:56-04:00", "question_creation_date": "Jun 29, 2024 02:35 AM", "meta_title": "[Solved] PLEASE PROVIDE FULL SOLUTIONS WITH EXPLAI | SolutionInn", "meta_description": "Answer of - PLEASE PROVIDE FULL SOLUTIONS WITH EXPLAINATIONS Prepare fully labeled variance diagrams for manufacturing overhead sp | SolutionInn", "meta_keywords": "provide,full,solutions,explainations,prepare,fully,labeled,variance,diagrams,manufacturing,overhead,splitting", "question_title_h1": "PLEASE PROVIDE FULL SOLUTIONS WITH EXPLAINATIONS Prepare fully labeled variance diagrams for manufacturing overhead splitting them between variance and fixed Denominator level in hours 40,000", "question_title": "PLEASE PROVIDE FULL SOLUTIONS WITH EXPLAINATIONS Prepare fully labeled variance diagrams for", "question_title_for_js_snippet": "PLEASE PROVIDE FULL SOLUTIONS WITH EXPLAINATIONS Prepare fully labeled variance diagrams for manufacturing overhead splitting them between variance and fixed Denominator level in hours 40,000 Actual output in units 21,000 Std Variable overhead rate per machine hour $2 80 Actual variable overhead incurred $117,000 Actual fixed overhead incurred $302,100 Variable overhead applied $117,600 Variable overhead Efficiency Variance $8,400 U Fixed overhead budget variance $2,100 U What is the Over under Allocated MO for Variable MO What is the Over under Allocated MO for Fixed MO Prepare journal entries that would be made at the end of each month relating to the above variances please provide variance diagrams in similar format to below Direct Materials Costs incurred Actual inputs x actual Actual inputs x standard Standard inputs allowed for actual outputs x rates(AQ x AR) Rate Variance rates(AQ X SR) Efficiency Variance standard rates(FGXSQXSR)", "question_description": "

PLEASE PROVIDE FULL SOLUTIONS WITH EXPLAINATIONS<\/p>

  1. Prepare fully labeled variance diagrams for manufacturing overhead splitting them between variance and fixed<\/strong><\/li><\/ol>

    <\/p>

    Denominator level in hours<\/p>

    40,000<\/p>

    Actual output in units<\/p>

    21,000<\/p>

    Std. Variable overhead rate per machine hour<\/p>

    $2.80<\/p>

    Actual variable overhead incurred<\/p>

    $117,000<\/p>

    Actual fixed overhead incurred<\/p>

    $302,100<\/p>

    Variable overhead applied<\/p>

    $117,600<\/p>

    Variable overhead Efficiency Variance<\/p>

    $8,400 U<\/p>

    Fixed overhead budget variance<\/p>

    $2,100 U<\/p>

    What is the Over\/under Allocated MO for Variable MO? ______________<\/strong><\/p>

    What is the Over\/under Allocated MO for Fixed MO? ___________________<\/strong><\/p>

    <\/p>

    1. Prepare journal entries that would be made at the end of each month relating to the above variances<\/strong><\/li><\/ol>

      <\/p>

      please provide variance diagrams in similar format to below<\/strong><\/p>

      <\/p>

      \"image<\/div><\/div><\/div> Direct Materials Costs incurred: Actual inputs x actual Actual inputs x standard Standard inputs allowed for actual outputs x rates(AQ x AR) Rate Variance rates(AQ X SR) Efficiency Variance standard rates(FGXSQXSR)", "transcribed_text": "", "related_book": { "title": "Accounting Principles", "isbn": "1119491630, 978-1119491637, 978-0470534793", "edition": "10th Edition", "authors": "Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/54.jpg", "uri": "\/textbooks\/accounting-principles-10th-edition-54", "see_more_uri": "" }, "free_related_book": { "isbn": "0412152207", "uri": "\/textbooks\/imms-general-textbook-of-entomology-volume-2-classification-and-biology-10th-edition-9780412152207-9789401704724", "name": "Imms\u2019 General Textbook Of Entomology Volume 2 Classification And Biology", "edition": "10th\u00a0Edition" }, "question_posted": "2024-06-29 02:35:56", "see_more_questions_link": "\/study-help\/questions\/business-general-management-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/particle-is-moving-with-the-given-data.-find-the-particle", "description": "A particle is moving with the given data. 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