omework? eck my w Crystal Glassware Company has the following standards and flex

Question

omework? eck my w Crystal Glassware Company has the following standards and flexible-budget data 19 per direct-1abor hour 2.5 hours per unit of output Standard variable-overhead rate standard quantity of direct labor Budgeted fixed overhead Budgeted output $330,000 26,500 units Actual results for April are as follows 19,700 units Actual output Actual variable overhead Actual fixed overhead Actual direct labor $1,003,000 $ 306,000 50,150 hours Required Use the following diagrams below (similar to Exhibit 1 and Exhibitmpute () the variable-overhead spending and efficiency variances, and (2) the fixed-overhead budget and volume variances. Complete this question by entering your answers in the tabs below K Prev 2 of 7 Next

Explanation / Answer

Req 1 Actual variable OH Projected variable OH Flexible Budget-Variable OH variable OH-Applied to WIP Actual hours * Actual rate Actual hours * Std rate Std Hours * Std rate Std Allowed hours * Std rate 50150 * 20 50150 * 19 49250 * 19 49250 * 19 1003000 952850 952850 935750 Variable OH spending variance 50150 Unfavorable 17100 Unfavorable variable OH Efficiency Variance Req 2: Actual Fixed OH Budgeted Fixed Oh Fixed Oh Allowed to WIP Std Hours allowed * Std Fixed OH rate 306000 330000 49250 * 4.981 245314 Fixed OH budget variance 24000 favorable 84686 Unfav Fixed OH Volume variance Hence, variable OH Spending variance 50150 Unfav Variable OH efficiency variance 17100 Unfav Fixed OH Budget variance 24000 Fav Fixed Oh Volume variance 84686 Unfav

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