Subject: Cost Accounting/ Accounting

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Hackers Corp. presents the following data necessary to perform your task of doing a variance report. Denominator Activity is: Machine Hours 140 hrs. Finished pieces produced 2,800 Standard Costs in connection with this production: Direct materials @ P1.20 Direct labor @ P0.1125 P3,360 315 Factory Overhead (including an allowance for variable overhead at the rate of P0.30/piece) 1,400 Total P5,075 The actual production for a month was: Machin Hours Finished pieces produced 130 2,860 The actual costs of this production was: Direct Materials Direct Labor Factory Overhead, including P573 of fixed overhead P3,575 286 1,573 Total P5,434 Direct labor hours and machine hours are proportional Tasks: Conduct an analysis of the variances and make a recommendation regarding: 1. Factory Overhead Variance a. Spending Variance b. Variable Efficiency Variance C. Fixed Efficiency Variance d. Idle Capacity Variance e. Total Manufacturing Overhead Variance - total of "a" to "d" variances Hackers Corp. presents the following data necessary to perform your task of doing a variance report. Denominator Activity is: Machine Hours 140 hrs. Finished pieces produced 2,800 Standard Costs in connection with this production: Direct materials @ P1.20 Direct labor @ P0.1125 P3,360 315 Factory Overhead (including an allowance for variable overhead at the rate of P0.30/piece) 1,400 Total P5,075 The actual production for a month was: Machin Hours Finished pieces produced 130 2,860 The actual costs of this production was: Direct Materials Direct Labor Factory Overhead, including P573 of fixed overhead P3,575 286 1,573 Total P5,434 Direct labor hours and machine hours are proportional Tasks: Conduct an analysis of the variances and make a recommendation regarding: 1. Factory Overhead Variance a. Spending Variance b. Variable Efficiency Variance C. Fixed Efficiency Variance d. Idle Capacity Variance e. Total Manufacturing Overhead Variance - total of "a" to "d" variances