Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. you brought your work home one evening, and your n

You brought your work home one evening, and your nephew spilled his chocolate milk shake...

60.1K

Verified Solution

Question

Accounting

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. (Round your answer to two decimal places. Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". 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 $10.00
Actual variable-overhead rate per machine hour x
Actual machine hours per unit of output x
Budgeted fixed overhead $50,625
Actual fixed overhead x
Budgeted production in units 13,500
Actual production in units x
Variable-overhead spending variance $38,000 Unfavorable
Variable-overhead efficiency variance $140,000 Favorable
Fixed-overhead budget variance $11,500 Unfavorable
Fixed-overhead volume variance x x
Total actual overhead $480,125
Total budgeted overhead (flexible budget) x
Total budgeted overhead (static budget) x
Total applied overhead $559,000

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

You've obtained quotes for Malaysian ringgit: $0.2300/RM and $0.2330RM. Which one of the following is correct? The...

Finance
Q

People say same-sex marriage devalues the traditional marriage. What is your opinion on the issue?

Psychology
Q

The lead in pencils is a graphite composition with Young's modulus of approximately 1.0x10? N/m....

Physics
Q

An initial investment doubled in value after 30years. What annual interest rate, compoundedcontinuously, produced this...

Calculus
Q

Ex x 2 x 6 Ex x 3 6 t x 1 x 2 X...

Algebra
Q

Q using the Discriminant of the Quadratic equation How many real solutions from the Equation...

Algebra
Q

the business of video games getiimiz gnlerde, oyun dnyasn ekillendiren ve ynlendiren pazar trendlerini kefetmek...

Accounting
Q

accounts rec was 680,000 and net credit sales amounted to 3,8000,000 during 2021....

Accounting
Q

Which of the following is not a topic that is likely to be discussed as...

Accounting
Q

What are current accounting standards for how businesses should acccount for government grants?

Accounting
Q

A variable cost will stay constant on a per unit basis as the volume increases....

Accounting
Q

Comment: Need Help in Answering Required 1 and 2. You have j ust been hired...

Accounting