Compute the spending variance for fixed manufacturing

Assignment Help Accounting Basics
Reference no: EM131771311

Question - Opulence Clothing is a manufacturer of designer suits. For June 2014, each suit is budgeted to take 5 labor-hours.  The budgeted number of suits to be manufactured in June 2014 is 1,1160.  Opulence Clothing allocates fixed manufacturing overhead to each suit using budgeted direct manufacturing labor-hours per suit.  Data pertaining to fixed manufacturing overhead costs for June 2014 are budgeted, $87,000.00 and actual, $63,935. In June, 2014 there were 1,180 suits started and completed.  There were no beginning or ending inventories of suits.

1. Compute the spending variance for fixed manufacturing overhad. Comment on the results.

2. Compute the production-volume variance for June 2014. What inferences can Opulence draw from this variance?

Reference no: EM131771311

Questions Cloud

What does current medical-nursing research say : Trace the history of cannabis use and its effect on health. What does current medical/nursing research say regarding the increasing use of medicinal cannabis.
What is a venn diagram : What is a Venn diagram? What are some practical examples of using a Venn diagram
Determine whether smoking cigars increases the risk : Suppose researchers want to know whether smoking cigars increases the risk of esophageal cancer.
Assess the organizations internal environment : Identify the most important strengths and weaknesses of your organization including an assessment of the organization's resources.
Compute the spending variance for fixed manufacturing : Opulence Clothing is a manufacturer of designer suits. Compute the spending variance for fixed manufacturing overhad. Comment on the results
Find the volume of chemical a needed to make the solution : The ratio of the volume of chemical A to that of chemical C is 1:2. Find the volume of chemical A needed to make the solution?
Peter would make concerning its investment in sardine : prepare the entries that Peter would make concerning its investment in Sardine under the simple equity
Compute the amount of research funding : Universities are sometimes ranked for prestige according to the amount of research funding their faculty members are able to obtain from outside sources.
Find the? crew rowing rate in still water : The return trip? upstream, against the? current, covered the same? distance, but took 4 hours. Find the? crew's rowing rate in still water and the rate.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Kansas products uses both special journals

Kansas Products uses both special journals and a general journal as described in this chapter.

  Njombe corporation manufactures a variety of products in

njombe corporation manufactures a variety of products. in the past njombe has been using a traditional costing system

  The ultimate responsibility for the formulation of

the ultimate responsibility for the formulation of financial reporting rules in the us rests with a. congress b.

  Governing authorities over financial reporting

You have recently hired several new members to your team who will be assisting with financial statement analysis for your clients. As part of their training, you want to make sure that they fully understand the requirements of the SEC regarding fi..

  Brislin corporation is issuing 181720 of 5 5-year bonds

brislin corporation is issuing 181720 of 5 5-year bonds when potential bond investors want a return of 16. interest is

  Determine pension expense for specific year

Pension data for Goldman Company included the following for the current calendar year: Determine pension expense for the year.

  Wuld you expect the volatility of a stock index to be

would you expect the volatility of a stock index to be greater or less than the volatility of a typical stock? explain

  A firm has 15000 in net income and the value of the firm

a firm has 15000 in net income and the value of the firm is 100000.what is the firms roe if it the firm is just

  Albertville inc produces leather handbags the production

albertville inc produces leather handbags. the production budget for the next four months is july 5000 units august

  How would you convince her for the importance of process

The owner of a local business complains that the adjustments process consumes a lot of time and delays reporting month-end financial results. How would you convince her of the importance of this process?

  Solve the problem related to the income stream

Assume that an investment generates the following income stream and can be purchased at the beginning of 2017 for $1,000 and sold at the end of 2020 for $1,200.

  6ingit posted a question that involved a journal entry for

6ingit posted a question that involved a journal entry for francines fast deliveries incffd. i was wondering if you

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!

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