Discuss about variable overhead spending variance

Assignment Help Accounting Basics

Reference no: EM13824573

Problem-

The following data are the actual results for Marvelous Marshmallow Company for October.

Actual output 10000 cases

Actual variable overhead $400000

Actual fixed overhead $149000

Actual machine time 43500 machine hours

Standard cost and budget information for Marvelous Marshmallow Company follows:

Standard variable-overhead rate $ 9.00 per machine hour

Standard quantity of machine hours 4 hours per case of marshmallows

Budgeted fixed overhead $144000 per month

Budgeted output 12000 cases per month

Required:

Use the variance formulas to compute the following variances. Indicate whether each variance is favorable or unfavorable. (Select "None" for no effect (i.e., zero variance). Do not round your intermediate calculations. Input all amounts as positive values.

Variable-overhead spending variance $ _______

Variable-overhead efficiency variance $ _______

Fixed-overhead budget variance $ ________

Fixed-overhead volume variance $ ________

Additional information-

This problem belongs to Basic Accounting and it discuss about calculation of variable overhead spending variance, fixed overhead budget variance, variable overhead efficiency variance, fixed overhead volume variance.

Reference no: EM13824573

Questions Cloud

Question regarding the preparatory to research : Explain the requirements and conditions involved in the "preparatory to research" exception that allows a researcher to use or disclose protected health information PHI without patient authorization.

Product process matrix for analysis : Product Process Matrix For Analysis

Designed information security policy : You are the information security manager for High-speed Industries a fortune 100 company and have been asked by the Chief Information Security Officer to prepare a presentation on the importance of having a well-designed information security polic..

Write a reaction paper about the article occupational hazard : write a 3-page reaction paper about the article "Occupational Hazard". An instance when you found yourself engaging in some of the conversation that Spence (2009) wrote.

Discuss about variable overhead spending variance : This problem belongs to Basic Accounting and it discuss about calculation of variable overhead spending variance, fixed overhead budget variance, variable overhead efficiency variance, fixed overhead volume variance

What the students do within assessment should produce data : What the students do within the assessment should produce data that can be measured so that reasonable judgments can be made about the student's achievement of the outcome.

Risks associated with health insurance : You are the information security manager for a medium-sized hospital. You have been asked to review the risks associated with Health Insurance Portability and Accountability Act (HIPAA) compliance.

Viewing the chinese imports & food safety video : After viewing the Chinese Imports & Food Safety Video, consider whether U.S. retailers that utilize products or raw ingredients that are imported from China and that are poorly regulated should be liable in tort for injuries to consumers who are harm..

Time for preferring job process : Time For Preferring Job Process

User Account

All Pages