Answer:
$10,125 Favorable
Actual quantity of the cost-allocation base used - Actual quantity of the cost-allocation base that should have been used to produce the actual output) × Budgeted variable overhead cost per unit of the cost-allocation base
Explanation:
Variable overhead spending variance = Actual Spending - budgeted Spending based on actual quantity
Variable overhead spending variance = (Actual Input x Actual rate) - ( Actual input x Budgeted rate)
Variable overhead spending variance = (10,125 x $29) - ( 10,125 x $30)
Variable overhead spending variance = $293,625 - $303,750
Variable overhead spending variance = $10,125 Favorable
Variable overhead spending variance is
Actual quantity of the cost-allocation base used - Actual quantity of the cost-allocation base that should have been used to produce the actual output) × Budgeted variable overhead cost per unit of the cost-allocation base
Answer:
a. Accounted for prospectively
Explanation:
Warranty cost is an expense i.e. to be incurred for the repair or replacement of the goods comes under the warranty given by the company.
Here if there is a change in the rate i.e. used for determining the warranty cost so it would be accounted in prospectively manner i.e. it would be changed in the current period and also the amount should be estimated or predicted
Hence, the correct option is a.
Answer:
- cost of goods sold
- raw materials inventory
- work in process inventory
- finished goods inventory
Explanation:
solution
As manufacturing industry always keep the track of costs of each inventory as product is moving from the raw material inventory in to the work in process and by the work in process it goes into the the finished goods inventory
so order of the flow of goods from beginning to end is
- cost of good sold
- raw material inventory : it is the total cost of material that is use in production process
- work in process inventory : work in process inventory is continually update work cost is record
- finished good inventory : after each job work complete then product is transfer to finished goods inventory
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Answer:
A) $0.075 variable and $450 fixed
Explanation:
to calculate Kendra's fixed and variable components using the high-low method we can use two separate formulas:
variable costs = (highest utility cost - lowest utility cost) / (highest output - lowest output) = ($1,200 - $600) / (10,000 - 2,000) = $600 / 8,000 = $0.075 per unit
fixed costs = highest cost - (highest output x variable cost) = $1,200 - (10,000 x $0.075) = $1,200 - $750 = $450
