You brought your work home one evening, and your nephew spilled his chocolate milk shake on the variance report you were preparing. Fortunately, knowing that overhead was applied based on machine hours, you were able to reconstruct the obliterated information from the remaining data. Fill in the missing numbers below. Note: Round your per machine hour and per unit answers to two decimal places. Indicate the effect of the variance by selecting "Positive" or "Negative". Select "None" and enter "O" for no effect (i.e., zero variance). Standard machine hours per unit of output Standard variable-overhead rate per machine hour Actual variable-overhead rate per machine hour Actual machine hours per unit of output Budgeted fix overhead Actual fixed overhead Budgeted production in units Actual production in units Variable-overhead spending variance Variable-overhead efficiency variance Fixed-overhead budget variance Fixed-overhead volume variance Total actual overhead Total budgeted overhead (flexible budget) Total budgeted overhead (static budget) Total applied overhead $ $ $ $ $ $ $ $ . 3 hours 10.00 30,450 38,950 14,500 32,000 Unfavorable 100,000 Favorable 8,500 Unfavorable 390,950 449,400

You brought your work home one evening, and your nephew spilled his chocolate milk shake on the variance report you were preparing. Fortunately, knowing that overhead was applied based on machine hours, you were able to reconstruct the obliterated information from the remaining data. Fill in the missing numbers below. Note: Round your per machine hour and per unit answers to two decimal places. Indicate the effect of the variance by selecting "Positive" or "Negative". Select "None" and enter "O" for no effect (i.e., zero variance). Standard machine hours per unit of output Standard variable-overhead rate per machine hour Actual variable-overhead rate per machine hour Actual machine hours per unit of output Budgeted fix overhead Actual fixed overhead Budgeted production in units Actual production in units Variable-overhead spending variance Variable-overhead efficiency variance Fixed-overhead budget variance Fixed-overhead volume variance Total actual overhead Total budgeted overhead (flexible budget) Total budgeted overhead (static budget) Total applied overhead $ $ $ $ $ $ $ $ . 3 hours 10.00 30,450 38,950 14,500 32,000 Unfavorable 100,000 Favorable 8,500 Unfavorable 390,950 449,400

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter24: Material And Labor Variances (primevar)

Section: Chapter Questions

Problem 5R: Close the PRIMEVAR4 file and open PRIMEVAR3. Click the Chart sheet tab. On the screen is a graphical...

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You brought your work home one evening, and your nephew spilled his chocolate milk shake on the variance report you were preparing. Fortunately, knowing that overhead was applied based on machine hours, you were able to reconstruct the obliterated information from the remaining data. Fill in the missing numbers below. Note: Round your per machine hour and per unit answers to two decimal places. Indicate the effect of the variance by selecting "Positive" or "Negative". Select "None" and enter "0" for no effect (i.e., zero variance). Standard Machine hours per unit of output 5 hours Standard Variable-overhead rate per machine hour $9 Actual variable-overhead rate per mchine hours ? Actual machine hours per unit of output ? Budgeted fixed overhead $27,500 Actual fixed overhead ? Budgeted production in units 11,000 Actual production in units…
You brought your work home one evening, and your nephew spilled his chocolate milk shake on the variance report you were preparing. Fortunately, knowing that overhead was applied based on machine hours, you were able to reconstruct the obliterated information from the remaining data. Fill in the missing numbers below. Note: Round your per machine hour and per unit answers to two decimal places. Indicate the effect of the varlance by selecting "Positive" or "Negative". Select "None" and enter "O" for no effect (l.e., zero varlance). Standard machine hours per unit of output 5 hours Standard variable-overhead rate per machine hour $ 9.00 Actual variable-overhead rate per machine hour Actual machine hours per unit of output Budgeted fixed overhead $ 31,625 Actual fixed overhead Budgeted production in units 11,500 Actual production in units Variable-overhead spending variance $ 34,000 Unfavorable Variable-overhead efficiency variance $ 126,000 Favorable Fixed-overhead budget variance $…
In a manufacturing process the assembly line speed (feet per minute) was thought to affect the number of defective parts found during the inspection process. To test this theory, managers devised a situation in which the same batch of parts was inspected visually at a variety of line speeds. They collected the following data: Develop a scatter chart with line speed as the independent variable. What does the scatter chart indicate about the relationship between line speed and the number of defective parts found? Use the data to develop an estimated regression equation that could be used to predict the number of defective parts found, given the line speed. What is the estimated regression model? Test whether each of the regression parameters β0 and β1 is equal to zero at a 0.01 level of significance. What are the correct interpretations of the estimated regression parameters? Are these interpretations reasonable? How much of the variation in the number of defective parts found for the sample data does the model you estimated in part (b) explain?
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You brought your work home one evening, and your nephew spilled his chocolate milk shake on the variance report you were preparing. Fortunately, knowing that overhead was applied based on machine hours, you were able to reconstruct the obliterated information from the remaining data. Fill in the missing numbers below. Standard machine hours per unit of output ............................................... 4 hoursStandard variable-overhead rate per machine hour ............................... $8.00Actual variable-overhead rate per machine hour ............................................. bActual machine hours per unit of output ............................................................. dBudgeted fixed overhead .................................................................................... $50,000Actual fixed overhead ..................................................................................................... aBudgeted production in units…
A1 fr Chapter 10: Applying Excel A В D E F 1 Chapter 10: Applying Excel 3 Data 4 Exhibit 10-1: Standard Cost Card Standard Quantity 2.9 pounds 5 Inputs Standard Price 6 Direct materials 7 Direct labor 8 Variable manufacturing overhead $4.00 per pound $22.00 per hour $6.00 per hour 0.60 hours 0.60 hours 9. 10 Actual results: Actual output Actual variable manufacturing overhead cost 13 2,000 units $7,140 Actual Quantity 6,500 pounds 11 12 Actual price $3.80 per pound $21.60 per hour 14 Actual direct materials cost 15 Actual direct labor cost 1,050 hours 16 17 Enter a formula into each of the cells marked with a ? below 18 Main Example: Chapter 10 19 20 Exhibit 10-4: Standard Cost Variance Analysis- Direct Materials 21 Standard Quantity Allowed for the Actual Output, at Standard Price 22 Actual Quantity of Input, at Standard Price 23 Actual Quantity of Input, at Actual Price 24 Direct materials variances: ? pounds x ? pounds x ? pounds x ? per pound = ? per pound = ? per pound = 25…
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