Please help to solve for part c, thanks a lot. The (partial) cost sheet...

50.1K

Verified Solution

Question

Accounting

image

Please help to solve for part c, thanks a lot.

The (partial) cost sheet for the single product manufactured at Vienna Company follows. Direct labor Variable overhead Fixed overhead (15 hours @ $25) (15 hours @ $2) (15 hours @ $4) $375 30 60 The master budget level of production is 78,000 direct-labor hours, which is also the production volume used to compute the fixed overhead application rate. Other information available for operations over the past accounting period include the following. Actual variable overhead incurred Actual fixed overhead incurred Direct labor efficiency variance Variable overhead price variance $128,000 326,800 158,000 U 26,000 F Required: a. What was the variable overhead efficiency variance? b. What was the fixed overhead price variance? c. What was the fixed overhead production volume variance? (For all requirements, indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Answer is complete but not entirely correct. a. b. Variable overhead efficiency variance Fixed overhead price variance Fixed overhead production volume variance $ $ $ 12,640U 14,800U 132,000 U

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students