Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual output of 125,000 units requiring 500,000 direct labor hours. (Practical capacity is 520,000 hours.) Annual budgeted overhead costs total $840,000, of which $595,000 is fixed overhead. A total of 119,500 units using 498,000 direct labor hours were produced during the year. Actual variable overhead costs for the year were $260,400, and actual fixed overhead costs were $555,450. Required: 1. Compute the fixed overhead spending and volume variances. Fixed Overhead Spending Variance $ 39,550 Favorable Fixed Overhead Volume Variance $ 2. Compute the variable overhead spending and efficiency variances. Do not round intermediate calculations Variable Overhead Spending Variance $ Variable Overhead Efficiency Variance $
Answers: 1
Business, 21.06.2019 20:00, tiannaetzel
During 2017, sheridan company expected job no. 26 to cost $300000 of overhead, $500000 of materials, and $200000 in labor. sheridan applied overhead based on direct labor cost. actual production required an overhead cost of $260000, $510000 in materials used, and $150000 in labor. all of the goods were completed. what amount was transferred to finished goods?
Answers: 1
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develo...
History, 20.02.2021 03:50
Mathematics, 20.02.2021 03:50
Mathematics, 20.02.2021 03:50
Mathematics, 20.02.2021 03:50
Mathematics, 20.02.2021 03:50