What is the amount of the factory overhead variance

Assignment Help Cost Accounting
Reference no: EM132972955

Problem - Viy Company applies factory overhead using a percentage of direct labor cost. Costs for the year 2020 have been estimated as follows:

Direct labor cost: 120,000

Factory overhead: 96,000

During January 2020, costs were recorded as follows:

Direct labor cost: 8,000

Factory overhead costs: 7,200

Required - What is the amount of the factory overhead variance?

Reference no: EM132972955

Questions Cloud

How do process transactions in the company module : The firm's year-end is on December 31, 2024. You received on January 22, 2024 a bank debit memo dated January 20,2024, for service charges on the bank account?
What types of data can rti provide : What types of data can RTI provide?
Describe how you can reconcile the accounts payable : Describe how you can reconcile the accounts payable and accounts receivable with the general ledger.
What is a recurring entry : Describe briefly how the HST remittance is calculated. How many tool bar icons do you know in the Enhanced view of home window in SAGE 50 Accounting?
What is the amount of the factory overhead variance : Costs for the year 2020 have been estimated as follows: Direct labor cost: 120,000. What is the amount of the factory overhead variance
Provide a reason related to accounting measurement e : Provide a reason related to accounting measurement explaining why this ratio is greater than one. Market Value of Equity = Investors' estimation of equity value
Explain the professional conduct of michael stephen : Explain the professional conduct of Michael Stephen & Partners and its other members in terms of the APES 110 Code of Ethics for Professional Accountants.
What is the amount of basic earnings per share : On January 1, Cee Company's ordinary share capital amounted to P1,000,000, with P10 par value. What is the amount of basic earnings per share
What is gain from change in fair value due to price change : One animal aged 2.5 years was purchased on July 1, 2020 for P108, and one animal was born on July. What is gain from change in fair value due to price change

Reviews

Write a Review

Cost Accounting Questions & Answers

  Cost accounting assignment

Evaluate Method of measuring costs associated with production, budgeting process, normal job-order costing system , master budget, cycle time.

  Prepare the journal entries

Prepare the journal entries to record the bond issue and interest expense.

  Advise as to the liability of all the parties

Write a report on given case study and Advise as to the liability of ALL the parties both under common law and the Corporations Law.

  Prepare revenues budget

Prepare Revenues budget and Production budget in units

  Effect of exchange rate changes on cash and cash

Effect of exchange rate changes on cash and cash

  Corporate governance

You are to reflect on how this case of China Sky relates to what the arguments for and against allowing audit firm partners and/or employees to join audit committees.

  Cost-benefit analysis

A cost-benefit analysis of electronic medical records in primary care

  Non-annual interest rates and annuities

Theory of Interest- Non-annual interest rates and annuities

  Job costing in service organizations

How is job costing in service organizations different from job costing in manufacturing environments?

  Accounting for bad debt expense

Accounting for bad debt expense

  Accounting and partnership problems

Accounting and Partnership problems

  Development of relevant cash flows

Development of relevant cash flows - Cost estimating and financial analysis

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