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Eva8 [605]
3 years ago
11

Bartoletti Fabrication Corporation has a standard cost system in which it applies manufacturing overhead to products on the basi

s of standard machine-hours (MHs) at $9.70 per MH. The company had budgeted its fixed manufacturing overhead cost at $69,000 for the month. During the month, the actual total variable manufacturing overhead was $66,710 and the actual total fixed manufacturing overhead was $74,000. The actual level of activity for the period was 6,400 MHs. What was the total of the variable overhead rate and fixed manufacturing overhead budget variances for the month?
Business
1 answer:
vazorg [7]3 years ago
3 0

Answer:

Total of the variable overhead rate and fixed manufacturing overhead budget variances for the month = $9,096 Unfavorable

Explanation:

Actual variable overhead rate = \frac{Actual variable overhead}{Actual Hours} = \frac{66,170}{6,400}  = 10.34

Therefore variance with the budgeted standard variable overhead

= (Standard Overhead rate - Actual overhead rate) \times Actual Hours

= ($9.70 - $10.34) \times 6,400 = -$4,096

And Fixed Overhead variance = Standard Fixed Overhead - Actual Fixed Overhead = $69,000 - $74,000 = -$5,000

Total of the variable overhead rate and fixed manufacturing overhead budget variances for the month = -$4,096 + -$5,000 = -$9,096

Since the value of variance is negative it means the expense both variable and fixed are over absorbed, which means it is unfavorable.

Total of the variable overhead rate and fixed manufacturing overhead budget variances for the month = $9,096 Unfavorable

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Hich correlation coefficient is one most likely to find between hours spent studying each week and cumulative gpa among college
8090 [49]

<u>".30"</u> is one most likely to find between hours spent studying each week and cumulative gpa among college students.


The correlation coefficient is a statistical measure that figures the quality of the connection between the relative developments of the two factors. The scope of qualities for the relationship coefficient limited by 1.0 on a flat out esteem premise or between - 1.0 to 1.0. In the event that the relationship coefficient is more prominent than 1.0 or not exactly - 1.0, the connection estimation is inaccurate. A connection of - 1.0 demonstrates an immaculate negative correlation, while a connection of 1.0 demonstrates a flawless positive correlation. A connection of 0.0 shows zero or no connection between the development of the two factors.

3 0
3 years ago
In July, Lane Co. sells merchandise to Avery Co. on account. In August, Avery pays the balance in full. The entry that Lane will
grandymaker [24]

The entry that Lane will make to record the receipt of cash will include a credit to the: a. Accounts Receivable.

<h3>What is Accounts Receivable?</h3>

Accounts Receivable can be defined as the amount a company is expected to receive from their clients or customers for the goods and service they rendered to their clients.

Based on the information given the appropriate journal entry to record the transactions is:

Debit Cash

Credit Account receivable

(To record the receipt of cash)

Inconclusion the entry that Lane will make to record the receipt of cash will include a credit to the: a. Accounts Receivable.

Learn more about account receivable here:brainly.com/question/24848903

7 0
1 year ago
Samantha's Office Supplies manufactures desk organizers in its Processing Department. Direct materials are included at the incep
Paul [167]

Answer:

Total Costs Transferred Out     906422.4

<em>Difference may be due to rounding .</em>

Explanation:

Samantha's Office Supplies

Equivalent units

Particulars       Units            % of Completion                Equivalent Units

                                          Materials Conversion     Materials Conversion

Completed and

transferred out        162,000  (100% ) (100% )     162,000 162,000

WIP,

Normal Spoilage       6,480     (100% ) (100% )       6,480     6,480

<u>Ending inventory   30,000  (100% )  (25% )           30,000, 7,500</u>

<u>Accounted For        198,480                               198,480       175,980   </u>                                                                  

Costs:                    Total            Direct materials        Conversion costs

WIP, beginning

inventory:             388,000          $ 300,000                      88,000

<u>Costs Added          639618             419,832                           219,786</u>

Total Costs

To Account for    1027618             719,832                             307786

Divided By

Equivalent Units                               198,480                            175,980  

<u>Equivalent Unit Costs   5.38                 3.63                                  1.75 </u>      

<u><em>Assignment of Costs </em></u>

Transferred out ( 5.38* 162,000)=  871560

Normal Spoilage (5.38* 6480)<u>=   34862.4</u>

Total Costs Transferred Out     906422.4

Difference may be due to rounding .

5 0
3 years ago
Which of the following statements is true of a linear cost​ function? A. It presents total cost as an intercept. B. It presents
mixer [17]

Answer:

Option B It presents variable cost as a slope coefficient

Explanation:

The reason is that the total cost function is:

Y = a + bx

The total cost in this case is Y, a is fixed cost as an intercept, b is variable cost represented as an slope and coefficient and x is level of activity which is independent of Y.

So the right answer is option B.

8 0
3 years ago
Direct Labor Variances Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for Oc
Viktor [21]

Answer:

Labor Efficiency Variance=268 Unfavorable

Labor Rate Variance= $ 150 Favorable

Total Direct Labor Cost Variance= $ 118

Work In Process $ 6432 debit

Explanation:

Glacier Bicycle Company

Quantity of direct labor used 500 hrs.

Actual rate for direct labor $13.10 per hr.

Standard direct labor per bicycle 2 hrs.

Standard rate for direct labor $13.40 per hr

The labor efficiency variance= (Standard Hours allowed  * standard labor Rate )- (  Actual Hours  * standard labor Rate )

Labor Efficiency Variance= (SH* SR)- (AH*SR)

Labor Efficiency Variance= ( 2* 240 *13.4) - (500* 13.4)

Labor Efficiency Variance= ( 480*13.4) - (500* 13.4)

Labor Efficiency Variance= $ 6432- $ 6700= 268 Unfavorable

Labor Rate Variance= (actual hours * actual rate) - (actual hours* standard rate)

Labor Rate Variance= ( 500 *13.1) - (500*13.4)= 6550-6700= $ 150 Favorable

Total Direct Labor Cost Variance=  Labor Efficiency Variance + Labor Rate Variance

Total Direct Labor Cost Variance= 268 Unfavorable +$ 150 Favorable

Total Direct Labor Cost Variance= $ 118

Work In Process $ 6432 debit

Labor Efficiency Variance  268 Unfavorable debit

Labor Rate Variance$ 150 Favorable credit

Accrued Payroll $ 6550 credit

5 0
3 years ago
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