Compute the overhead volume variance
AirPro Corp. reports the following for November.
| Actual total factory overhead incurred | $ | 28,175 | |
| Standard factory overhead: | |||
| Variable overhead | $ | 3.10 | per unit produced |
| Fixed overhead | |||
| ($12,000/12,000 predicted units to be produced) | $ | 1 | per unit |
| Predicted units produced | 12,000 | units | |
| Actual units produced | 9,800 | units |
Compute the overhead volume variance for November.
BatCo makes metal baseball bats. Each bat requires 1 kg. of aluminum at $18 per kg. and 0.25 direct labor hours at $20 per hour. Overhead is assigned at the rate of $40 per labor hour. What amounts would appear on a standard cost card for BatCo? (Round "Qty per unit" to 2 decimal places.)
BatCo makes metal baseball bats. Each bat requires 1 kg. of aluminum at $18 per kg. and 0.25 direct labor hours at $20 per hour. Overhead is assigned at the rate of $40 per labor hour. Assume the actual cost to manufacture one metal bat was $40. Compute the cost variance and classify it as favorable or unfavorable. (Round "Qty per unit" to 2 decimal places.)
Mosaic Company applies overhead using machine hours and reports the following information.
| Actual machine hours used (AH) | 4,700 | hours | |
| Standard machine hours (SH) | 5,000 | hours | |
| Actual variable overhead rate per hour (AVR) | $ | 4.15 | |
| Standard variable overhead rate per hour (SVR) | $ | 4.00 |
Compute the variable overhead spending variance and the variable overhead efficiency variance. (Round actual rate to 2 decimal places.)
Tercer reports the following on one of its products.
| Direct materials standard (4 lbs. @ $2/lb.) | $ | 8 | per finished unit |
| Actual direct materials used (AQ) | 300,000 | lbs. | |
| Actual finished units produced | 60,000 | units | |
| Actual cost of direct materials used | $ | 535,000 |
The following information describes a company's usage of direct labor in a recent period.
| Actual direct labor hours used (AH) | 65,000 | |
| Actual direct labor rate per hour (AR) | $ | 15 |
| Standard direct labor rate per hour (SR) | $ | 14 |
| Standard direct labor hours for units produced (SH) | 67,000 |
AirPro Corp. reports the following for November.
| Actual total factory overhead incurred | $ | 28,175 | |
| Standard factory overhead: | |||
| Variable overhead | $ | 3.10 | per unit produced |
| Fixed overhead | |||
| ($12,000/12,000 predicted units to be produced) | $ | 1 | per unit |
| Predicted units produced | 12,000 | units | |
| Actual units produced | 9,800 | units |
-
Rating:
/5
