How much is the overhead volume variance

Assignment Help Managerial Accounting
Reference no: EM132977847

Question - Eminem, Inc. manufactures music CDs. At the start of 2020, Eminem planned to produce 108,000 CDs for which the standard cost for each CD is:

Plastic (0.25 pounds at $6.00 per pound) $1.50

Labor (0.10 hour at $12.00 per hour) 1.20

Overhead ($0.80 fixed and $0.60 variable) 1.40

Total $4.10

Overhead is allocated based on the number of units produced. Eminem isolates material purchase variances at the point of purchase. The following information summarizes Eminem's results for 2020:

Actual production 111,000 CDs

Actual variable overhead $65,000

Actual fixed overhead $83,000

Required - How much is the overhead volume variance for 2020?

Reference no: EM132977847

Questions Cloud

Why are board evaluations important : What is more recently being taken into account in setting the remuneration of directors and Why are Board evaluations important? Explain
What is the book value of the equipment : The asset have estimated useful life of five (5) years with P10,000 residual value. Assuming calendar year, what is the book value of the equipment
Outstanding common shares of geer company : What is the Consolidated Financial Statements (except for cash flows) as of/for the period ending December 31, 2011 and Bradley Company common shares
What is the value of the stock : Home Depot just paid a $4.50 dividend, dividends are expected to grow perpetually at a rate of 9%. What is the value of the stock
How much is the overhead volume variance : At the start of 2020, Eminem planned to produce 108,000 CDs for which the standard cost for each CD is: How much is the overhead volume variance
Compute the depreciation for each year : The clubs will sell for $1,100 per set and have a variable cost of 80% of revenues per set. Compute the depreciation for each year
Market participants would take into account : Market participants would take into account when pricing the asset or liability - distinguish equity investment from debt investment. using your own words
Compute Terry gross pay : If this results in the employee earning less than minimum wage, the employer will contribute the difference. Compute Terry gross pay
What is the time value of this option : You decide to take the long position in this stock at an exercise price of 20 with the contract expiry date 6 months from now. What is the time value

Reviews

Write a Review

Managerial Accounting Questions & Answers

  What price to the nearest cent does bajar sell geraniums

If Loblaws puts a 22% markup on its garden products, for what price to the nearest cent does Bajar's sell geraniums to Loblaws?

  What recommendation should be made to the controller

What recommendation should be made to the controller. Prepare a monthly cash budget and supporting schedules for September, October, and November.

  Determine what falls under period costs

Determine What falls under period costs and determine with an proper examples? Can a dryer and dog grooming tub be considered a period costs?

  What the amount of overhead applied to production

Estimated direct labor-hours to be worked in the coming period of 55,000 hours. The amount of overhead applied to production during the period is closest to

  A manufacturing organization

Research and find the latest 10K for Amazon.com. How would you primarily classify the company? Is it a service, a merchandiser, or a manufacturing organization? Explain, giving reasons. Your work should be submitted in a Word document, typed in doubl..

  Should the higher-quality components be used and why

Total fixed expenses are $35,000 per month, and the company is selling 1,600 drones per month. Should the higher-quality components be used?

  How much is the materials cost per unit

If materials added and beginning Work in Process materials cost totals $20460, how much is the materials cost per unit if the weighted-average method is used?

  Would drypool be better off financially by switching

Given the preceding information, would DryPool be better off financially by switching to the environmentally friendly dye? Assume DryPool chooses to be environmentally responsible regardless of cost, and it switchs to the new dye. The production mana..

  Should purchase the new piece of equipment

Should they purchase the new piece of equipment? Why? The machine can be sold at the end of the year four for $25,000. Assume a discount of 8%.

  Prepare a memo or incremental report

Prepare a memo or incremental report comparing the projected cost - Compare the costs and profits allocated to the five clients under the two cost allocation methods. In step 5 you will analyze the differences in sufficient detail to explain the di..

  Calculate the present value

Julie would receive a lump sum of $132,000 immediately as her full retirement bene?t. Calculate the present value

  Contrast budgeting for businesses and personal household

Without revealing personal information, contrast budgeting for businesses, personal household budgets, and government budgeting? Are they really that different?

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