ACC 410 : ACC410 Solution Chapter 11

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violetkangaroo221

19 Apr 2012

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11. 19: actual hours = 2,720, direct labour price variance (1,360) u, the fixed overhead budget variance = ,280 f. 11. 22: the variable overhead spending variance = ,300 u, the variable overhead efficiency variance = ,200 u, the fixed overhead spending (budget) variance = ,000 u, the fixed production volume variance = ,500 u. 11. 23: revenue budget variance = ,800 u, sales price variance = ,800 u, revenue sales quantity variance = ,000 u, the contribution margin sales volume = ,800 u. 11. 24: contribution margin budget variance = ,175 u, contribution margin variance = ,575 u. Contribution margin sales volume variance = ,600 u: contribution margin sales quantity variance = ,271. 42 f. Contribution margin sales mix variance = ,871. 16 u. 11. 25: direct material price variance = ,000 u. 11. 27: revenue budget variance = ,500 u. Sales price variance = $ 4,500 f: contribution margin budget variance = ,750 u.

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Question 3 12 Marks Esquire Clothing is a manufacturer ofdesigner suits. The cost of each suit is the sum of three variablecosts (direct material costs, direct manufacturing labour costs,and manufacturing overhead costs) and one fixed-cost category(manufacturing overhead costs). Variable manufacturing overheadcost is allocated to each suit on the basis of budgeted directmanufacturing labour-hours per suit. For June 2015, each suit isbudgeted to take 4 labour hours. Budgeted variable manufacturingoverhead cost per labour-hour is $12. The budgeted number of suitsto be manufactured in June 2015 is 1,040. Actual variablemanufacturing costs in June 2015 were $52,164 for 1,080 suitsstarted and completed. There were no beginning or endinginventories of suits. Actual direct manufacturing labour-hours forJune were 4,536. a) Compute the flexible-budget variance, thespending variance, and the efficiency variance for variablemanufacturing overhead. (8 marks) Question 3 continued over nextpage Term 1 STANDARD Examination 2016 Foundations of ManagementAccounting â ACCT20076 Page 10 of 11 Question 3 continued b)Comment on the spending and efficiency variances calculated.________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________(4 marks) Question

whitesardine492

The following information was compiled by Wildhorse Company:

Expected volume of production	110,000	units
Actual level of production	105,000	units
Budgeted fixed overhead	$220,000
Actual fixed overhead	$228,150
Variable overhead rate per direct-labour hour	$8
Actual variable overhead	$406,000
Standard direct-labour hours allowed per unit produced	0.5	hour
Standard direct-labour rate per hour	$8.05
Actual direct-labour hours of input	52,400	hours
Actual direct-labour rate per hour	$8.10

Compute the following variances:

Direct-labour flexible-budget variance $______(Favourable/Unfavourable/neither)

tanbadger888

Pointe Claire Company applies overhead based on direct labourhours. Two direct labour hours are required for each unit ofproduct. Planned production for the period was set at 8,700 units.Manufacturing overhead is budgeted at $130,500 for the period (20%of this cost is fixed). The 17,350 hours worked during the periodresulted in the production of 8,130 units. The variablemanufacturing overhead cost incurred was $108,500 and the fixedmanufacturing overhead cost was $28,900.

a.Calculate the variable overhead spending variance for theperiod.

b.Calculate the variable overhead efficiency (quantity) variancefor the period.

c.Calculate the fixed overhead budget (spending) variance forthe period.

d. Calculate the fixed overhead volume variance for theperiod.

jadespider971

ACC 410 : ACC410 Solution Chapter 11

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