{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T16:06:25-04:00", "answer_date": "2024-05-27 16:06:25", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1788893", "url": "\/study-help\/questions\/you-have-just-been-hired-by-fab-corporation-the-manufacturer-1788893", "question_creation_date_js": "2024-05-27T16:06:25-04:00", "question_creation_date": "May 27, 2024 04:06 PM", "meta_title": "[Solved] You have just been hired by FAB Corporati | SolutionInn", "meta_description": "Answer of - You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The p | SolutionInn", "meta_keywords": "hired,fab,corporation,manufacturer,revolutionary,new,garage,door,opening,device,president,asked", "question_title_h1": " You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president has asked that you", "question_title": " You have just been hired by FAB Corporation, the manufacturer of", "question_title_for_js_snippet": "You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device The president has asked that you review the company's costing system and do what you can to help us get better control of our manufacturing overhead costs You find that the company has never used a flexible budget, and you suggest that preparing such a budget would be an excellent first step in overhead planning and control After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March Utilities Maintenance Supplies Indirect labor Depreciation Cost Formula $20,600 $0 10 per machine hour $40,000 $1 60 per machine hour $0 30 per machine hour $130,000 $0 70 per machine hour $70,000 Actual Cost in March $ 24,200 $ 78,100 $ 8,400 $ 149,600 $ 71,500 During March, the company worked 26,000 machine hours and produced 15,000 units The company had originally planned to work 30,000 machine hours during March Required 1 Calculate the activity variances for March 2 Calculate the spending variances for March Complete this question by entering your answers in the tabs below ", "question_description": "\"image\"image\"image", "transcribed_text": "You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president has asked that you review the company's costing system and do what you can to help us get better control of our manufacturing overhead costs.\" You find that the company has never used a flexible budget, and you suggest that preparing such a budget would be an excellent first step in overhead planning and control. After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March: Utilities Maintenance Supplies Indirect labor Depreciation Cost Formula $20,600 + $0.10 per machine-hour $40,000 +$1.60 per machine-hour $0.30 per machine-hour $130,000 + $0.70 per machine-hour $70,000 Actual Cost in March $ 24,200 $ 78,100 $ 8,400 $ 149,600 $ 71,500 During March, the company worked 26,000 machine-hours and produced 15,000 units. The company had originally planned to work 30,000 machine-hours during March. Required: 1. Calculate the activity variances for March. 2. Calculate the spending variances for March. Complete this question by entering your answers in the tabs below.", "related_book": { "title": "Fundamental Managerial Accounting Concepts", "isbn": "71220720, 78110890, 9780071220729, 978-0078110894", "edition": "6th Edition", "authors": "Edmonds, Tsay, olds", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/67.jpg", "uri": "\/textbooks\/fundamentals-managerial-accounting-concepts-6th-edition-67", "see_more_uri": "" }, "free_related_book": { "isbn": "B002JX9G6K", "uri": "\/textbooks\/wilson-intermediate-evolution-game-basketball-b002jx9g6k-160925", "name": "Wilson Intermediate Evolution Game Basketball", "edition": "" }, "question_posted": "2024-05-27 16:06:25", "see_more_questions_link": "\/study-help\/questions\/business-corporate-finance-2020-July-01", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions-and-answers\/prepare-a-personal-swot-analysis-your-personal-strengths-and-weaknesses-21903", "description": "Prepare a personal SWOT analysis (Your personal Strengths and Weaknesses and the external macroeconomic Opportunities and Threats that all of your competitors will assess criteria examples Advantages...", "stars": 3 }, { "url": "\/bonnie-is-married-and-has-1-child-she-owns-bonnies", "description": "Bonnie is married and has 1 child. 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