Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. show the solution in good accounting form.compute

show the solution in good accounting form.Compute for Spending VarianceCompute for Variable Overhead Efficiency VarianceCompute...

70.2K

Verified Solution

Question

Accounting

show the solution in good accounting form.

Compute for Spending Variance

Compute for Variable Overhead Efficiency Variance

Compute for Controllable Variance

image
CoursHeroTranscribedText: MARISSA CO. the consultant of MARISOL CO. had summarized the following standard cost data extracted from the historical records performance reports issued by the cost accounting department in the prior year to assist in her analysis and evaluation of the standard costing policy of the company: Input required per unit Standard cost per unit Standard cost per unit Direct Materials 6 kg per unit 90 per kg 540 Direct Labor 5 hours per unit 50 per hour 250 Other information follows: Budgeted factory overhead for the year: Variable 480,000 Fixed 600,000 The company's normal capacity per month is 400 units. Actual cost materials purchased for the year is P2,342,000 During the year, direct materials purchased is 26,880 kg while direct materials actually used is 24,760 kgs Actual labor costs for the year 1,080,000 of which 24,900 direct labor hours was consumed. Actual factory overhead amounted to 1,320,000, 65% of which is fixed cost, FOH is based on labor hours. Actual production during the year 5,150 units

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