Calculate the variances and identify whether the variance is favorable (F) or un
ID: 2530925 • Letter: C
Question
Calculate the variances and identify whether the variance is favorable (F) or unfavorable (U).
This is all the data that is provided. I cannot find the Totals...
Complete the table below for the missing variances. EEB (Click the icon to view the table.) Calculate the variances and identify whether the variance is favorable (F) or unfavorable (U). (b) Total Direct Materials Variance (c) Total Direct Labor Variance (e) Total Variable Overhead Variance (D Total Fixed Overhead Variance (d) Total Manufacturing Overhead Variance (a) Total Flexible Budget Product Cost Variance S 235F S 145F S 225F Data Table Total Flexible Budget Product Cost Varianoe Total Direct Total Direct Materials Variance Labor Variance Overhead Variance Direct Materials Direct Materials Cost Variance Efficiency Vaiance Cost Variance Efficiency Variance $ 480 F Direct Labor Direct Labor Total Variable Total Fixed Overhead Variance Overhead Variance $245 U S 160U S 305F Varlable Overhead Efficiency Variance 575 F Fixed Overhead Cost Variance $25 Variable Overhead Cost Variance $350 UExplanation / Answer
=> Here, Pts. (a), (d) & (f) relating to different Variances are to be found in the question and to identify whether they are Favourable or Unfavourable.
=> Pt. (f) : Total Fixed O/h Variance : 25(F)
Total Fixed O/h cost variance is given, and No information about other & so as per the Table, Total Fixed O/h Variance consists of Cost Part & so will be same as that value i.e., 25(F)
=> Pt. (d) : Total Mfg. O/h Variance : 250(F)
Total Mfg. O/h variance = Total Variable O/h variance[225(F)] + Total Fixed O/h Variance [25(F)] = 250(F)
=> Pt. (a) : Total Flexible Budget Product Cost Variance : 630(F)
Total Flexible Budget Product Cost Variance = Total Direct Material Variance[235(F)] + Total Direct Labour Variance [145(F)] + Total Mfg. O/h Variance [250(F)] = 630(F)
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