All categories

2 years ago

The following standards for variable overhead have been established for a company that makes only one product:

Business

1 answer:

Dahasolnce [82]2 years ago

5 0

Answer:

a. The variable overhead rate variance for the month is:

= $7,771 F

b. The variable overhead efficiency variance for the month is:

= $672 U.

Explanation:

a) Data and Calculations:

Standard hours per unit of output = 6.8 hours

Standard variable overhead rate = $14.00 per hour

Total standard hours = 9,452 (6.8 * 1,390)

Actual hours = 9,500 hours

Actual total variable overhead cost = $125,230

Actual rate per hour = $13.18 ($125,230/$9,500)

Actual output = 1,390 units

Variable overhead rate variance for the month = (Standard rate - Actual rate) * Actual hours = $14 - $13.182 * 9,500 = $7,771 F

Variable overhead efficiency variance for the month = (Standard hours - Actual hours) * Standard Rate

= 9,452 - 9,500 * $14 = $672 U

Total variable overhead variance for the month = $7,099 F ($7,771 - $672)

Total standard variable overhead cost = 6.8 * $14 * 1,390 = $132,328

Actual variable overhead cost for the month = 125,230

Variance for variable overhead cost for the month = $7,098

You might be interested in

The cost performance index (CPI): a. can be used to estimate the projected cost of completing the project. b. indicates that the

Evgen [1.6K]

Answer:

The correct answer is letter "A": can be used to estimate the projected cost of completing the project.

Explanation:

The Cost Performance Index or CPI measures the projected cost of work completed compared to the current cost spent. The CPI represents a ratio of earned value to actual cost. If the CPI is greater than one, the project is under budget. When the CPI equals one the planned and actual costs are equal. If the CPI is higher than one, the project is over budget.

3 0

2 years ago

Which of the following statements about advertising is most accurate? Advertising is the least costly form of promotion because

jek_recluse [69]

Answer:

The correct answer is letter "E": Through advertising, a company can control, to some extent, to whom the message is sent.

Explanation:

Advertising is the main key to Marketing by which companies promote their goods or services in an attempt to attract a target population. However, the process of determining what advertising technique a firm will use is not that simple. A series of psychological approaches are used to reach consumers strategically.

Companies at a certain level, manage their marketing audience. Though, different mediums of communication allow people of all kinds, not necessarily the company's target population, to be aware of the promotion somehow.

8 0

2 years ago

At a promotion interview, it is important to ________.

stich3 [128]

Be honest about your qualifications

6 0

3 years ago

Read 2 more answers

Environmental scanning is the act of analyzing the critical external contingencies and trends facing an organization in terms of

alekssr [168]

Answer:

The correct answer is the option B: economic conditions, competitors and customers.

Explanation:

To begin with, the term of environmental scanning refers to the action of analyzing the forces, both internal and external, whose actions affect the organization in its whole and may give the company opportunities or threats, sthrengths or weaknesses. Moreover, when refering to the external part of the analysis the most important groups to have in mind are those outside the organization and that it may not take control over decisions directly. Those items or groups are: the competitors, the customers, economic conditions, the government, market suppliers, intermediaries and more.

5 0

3 years ago

An IAR has opened an account for a new customer. The customer is "on the road" for 3-4 weeks per month and has given the IAR ver

kobusy [5.1K]

Answer:

The investment advisory firm which employs the investment adviser representative (IAR).

Explanation:

FINRA's rules specifically state that before any transaction, the IAR must have a signed power of attorney. The IAR cannot start trading or operating with the client's money until he/she has received a signed written power of attorney from the client. Only after the signed power of attorney has been given tot eh IAR, can he/she act on discretionary basis.

If the IAR is not a registered broker-dealer, then NASAA rules state that oral agreements are valid for up to 10 business days, but the IAR must have a written authorization after that time expires. I.e. the IAR could buy the stocks, but he/she was not authorized to sell them. So any loss is responsibility of the firm that employs the IAR.

6 0

2 years ago