Turner Company reported a cost of goods manufactured of $520…

Turner Company reported a cost of goods manufactured of $520,000, with the firm’s year-end balance sheet revealing work in process and finished goods of $70,000 and $134,000, respectively.  Supplemental information disclosed raw materials used in production of $80,000, direct labor of $140,000, and manufacturing overhead applied of $240,000.  Turner Company’s beginning work in process must have been:  

Crystal Co uses a standard costing system and applies overhe…

Crystal Co uses a standard costing system and applies overhead to production based on machine hours.  The company reported the following data for the period just ended:    Actual units produced:                                                       12,000 Actual variable overhead incurred:                                 $96,000 Actual machine hours:                                                        20,000 Standard variable overhead cost per machine hour:          $4.50     Crystal Co budgets based on a standard of 1.5 machine hours to manufacture a completed unit. The company’s variable-overhead spending variance would be: