User Account

All Pages

Calculate the fixed overhead production volume variance

Assignment Help Financial Accounting
Reference no: EM132950165

Question - Vettel Pty Ltd uses a standard costing system for product costing. The company uses direct labour hours as the cost driver to apply overhead costs. The following amounts were budgeted for the year:

Planned production - units 50,000

Direct labour hours 200,000

Variable overhead $1,000,000

Fixed overhead $600,000

The following were the actual results:

Actual production - units 48,000

Direct labour hours 195,000

Variable overhead $950,000

Fixed overhead $610,000

Required - Calculate the fixed overhead production volume variance.

Reference no: EM132950165

Questions Cloud

Demonstrate an understanding of post-project activities : Demonstrate an understanding of post-project activities and demonstrate an understanding of project success factors.
At what amount should the bond investments be shown : At what amount should the bond investments be shown on December 31, Year 2 and December 31, Year 3 statement of financial position
How much should chichi report as net cash from financing : How much should Chichi report as net cash from financing activities? Issued 500 of its 11% debenture bonds, due in 2018, for P392,000 cash.
Should company go for dividend payment or buy back shares : Should the company go for dividend payment or buy back shares? Please give proper justification based on the change in the total value of firm
Calculate the fixed overhead production volume variance : The company uses direct labour hours as the cost driver to apply overhead costs. Calculate the fixed overhead production volume variance
Record the appropriate entries in the general journal : Record the appropriate entries in the general journal and the auxiliary petty cash record. Issue cheque no. 14 for $120 to establish a petty cash fund.
Prepare a depreciation schedule to june : Prepare a depreciation schedule to 30 June 2018. A motor vehicle was purchased on 31 March 2016 for $42,000 plus GST. It has an expected useful life of 5 years.
What effect would a trade deficit have on interest rates : What effect would a trade deficit have on interest rates, if any? Explain. You overheard a group of people who were talking about interest rates
Contemporary american business : Think about the products you purchase. Compare which types of products cause you to spend significant amounts of time and energy before they purchase, and which

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd