Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Total Factory Overhead Cost Variances Thomas Textiles Corporation began November with a budget for 25,000 hours of production in the Weaving Department. The department has

image text in transcribed

Total Factory Overhead Cost Variances Thomas Textiles Corporation began November with a budget for 25,000 hours of production in the Weaving Department. The department has a full capacity of 33,000 hours under normal business conditions. The budgeted overhead at the planned volumes at the beginning of November was as follows: Variable overhead $55,000 Fixed overhead 36,300 591,300 The actual factory overhead was $92,400 for November. The actual fixed factory overhead was as budgeted. During November, the Weaving Department had standard hours at actual production volume of 25,000 hours. Determine the variable factory overhead controllable variance and the fixed factory overhead volume variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your interim computations to the nearest cent, if required. a. Variable factory overhead controllable variance: b. Fixed factory overhead volume variance: 5

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

Managerial Accounting Tools for business decision making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

6th Edition

978-0470477144, 1118096894, 9781118214657, 470477148, 111821465X, 978-1118096895

More Books

Students also viewed these Accounting questions