Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The options on the right are favorable/unfavorableeither favorable nor unfavorable. Please show the process and explain why Exercise 11-5 The Ridgewood Supply Company produces cleaning

image text in transcribedimage text in transcribedThe options on the right are favorable/unfavorableeither favorable nor unfavorable.

Please show the process and explain why

Exercise 11-5 The Ridgewood Supply Company produces cleaning equipment for professional cleaners. At the start of the year, Ridgewood estimated variable overhead costs to be $13 per unit and total fixed overhead costs at $291,270, based on a volume of 69,500 units. The detail for the overhead estimates follows: $ 556,000 139,000 208,500 $ 903,500 Variable Overhead Indirect material ($8) Utilities ($2) Maintenance ($3) Total variable overhead Fixed Overhead Supervisor salaries Depreciation Other fixed overhead Total fixed overhead Total overhead costs $ 125,250 141,200 24,820 $ 291,270 $1,194,770 Actual costs for the year are as follows: 56,750 units $ 472,530 87,090 168,690 $ 728,310 Actual Production Variable Overhead Indirect material Utilities Maintenance Total variable overhead Fixed Overhead Supervisor salaries Depreciation Other fixed overhead Total fixed overhead Total overhead costs $ 121,040 159,350 28,344 $ 308,734 $1,037,044 Calculate the controllable overhead variances for variable and fixed overhead. (Enter all variances as a positive number.) Ridgewood Supply Company Actual Units Produced (56,750) Flex Budget Variance Variable Overhead Actual $ Indirect material Utilities Maintenance Total variable overhead Fixed Overhead Supervisor salaries Depreciation Other fixed overhead Total fixed overhead Total Overhead costs Click if you would like to Show Work for this question: Open Show Work TUTO TEYTTUTO TV

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

ACCA Approved Study Text P7 Advanced Audit And Assurance

Authors: BPP

1st Edition

1472744349, 978-1472744340

More Books

Students also viewed these Accounting questions