Overhead is applied on the basis of direct labor hours. B…

Overhead is applied on the basis of direct labor hours. Budgeted Direct Labor Hours  6,500 SP for Variable Overhead  $1.70 Actual Variable Overhead  $12,960 SQ x SP for Variable Overhead  $11,560 SQ x SP for Fixed Overhead  $23,120 Budgeted Fixed Overhead   $22,100 Actual Fixed Overhead  $24,000 Actual Direct Labor Hours  6,500 The fixed overhead volume variance was:

The following information pertains to the month of August. A…

The following information pertains to the month of August. As part of the budgeting process, Alloway’s Fencing Company developed the following static budget for August. Alloway is in the process of preparing the flexible budget and understanding the results.       Actual Flexible    Static      Results Budget    Budget Sales volume (in units)      30,000       25,000     ========   Sales revenues $1,500,000 $ $1,250,000 Variable costs        744,000 $ _________        600,000         Contribution margin        756,000 $        650,000         Fixed costs         458,000 $ _________        450,000 Operating profit     $ 298,000 $    $ 200,000  The flexible budget will report __________ for variable costs.         

Overhead is applied on the basis of direct labor hours. B…

Overhead is applied on the basis of direct labor hours. Budgeted Direct Labor Hours  6,500 SP for Variable Overhead  $1.70 Actual Variable Overhead  $12,960 SQ x SP for Variable Overhead  $11,560 SQ x SP for Fixed Overhead  $23,120 Budgeted Fixed Overhead   $22,100 Actual Fixed Overhead  $24,000 Actual Direct Labor Hours  6,500 The standard hours allowed for actual units produced (SQ) was:

Projected sales for Taylor, Inc., for next year and beginnin…

Projected sales for Taylor, Inc., for next year and beginning and ending inventory data are as follows:Sales                                            10,000 unitsBeginning inventory                        400 unitsDesired ending inventory               300 unitsAccording to Taylor’s production budget, how many units should be produced?

Fordham Corporation produces a single product. The standard…

Fordham Corporation produces a single product. The standard costs for one unit of its Concourse product are as follows: Direct materials (6 pounds at $0.50 per pound)                                        $3 Direct manufacturing labor (2 hours at $10 per hour)                                20 Variable manufacturing overhead (2 hours at $5 per hour)        10 Total    33                                                                                                          33During November Year 2, 4,000 units of Concourse were produced. The costs associated with November operations were as follows:   Material purchased (36,000 pounds at $0.60 per pound)                              $21,600 Material used in production (28,000 pounds)   Direct manufacturing labor (8,200 hours at $9.75 per hour)                          $79,950 Variable manufacturing overhead incurred                                                        $41,820 What is the variable overhead efficiency variance for Concourse for November Year 2?