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In: Accounting
Overhead Variances, Two- And Three-Variance Analyses Oerstman, Inc., uses a standard costing system and develops its...
Overhead Variances, Two- And Three-Variance Analyses Oerstman, Inc., uses a standard costing system and develops its overhead rates from the current annual budget. The budget is based on an expected annual output of 123,000 units requiring 492,000 direct labor hours. (Practical capacity is 512,000 hours.) Annual budgeted overhead costs total $767,520, of which $546,120 is fixed overhead. A total of 119,000 units using 490,000 direct labor hours were produced during the year. Actual variable overhead costs for the year were $241,300, and actual fixed overhead costs were $555,450.
a. Compute overhead variances using a two-variance analysis.
Budget Variance $
Volume Variance $
b. Compute overhead variances using a three-variance analysis.
Spending Variance $
Efficiency Variance $
Volume Variance $
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Overhead Variances, Two- And Three-Variance Analyses Oerstman, Inc., uses a standard costing system and develops its...
Overhead Variances, Two- And Three-Variance Analyses
Oerstman, Inc., uses a standard costing system and develops its
overhead rates from the current annual budget. The budget is based
on an expected annual output of 123,500 units requiring 494,000
direct labor hours. (Practical capacity is 514,000 hours.) Annual
budgeted overhead costs total $780,520, of which $558,220 is fixed
overhead. A total of 119,100 units using 492,000 direct labor hours
were produced during the year. Actual variable overhead costs for
the year were...
Overhead Variances, Two- And Three-Variance Analyses Oerstman, Inc., uses a standard costing system and develops its...
Overhead Variances, Two- And Three-Variance Analyses Oerstman,
Inc., uses a standard costing system and develops its overhead
rates from the current annual budget. The budget is based on an
expected annual output of 123,000 units requiring 492,000 direct
labor hours. (Practical capacity is 512,000 hours.) Annual budgeted
overhead costs total $752,760, of which $555,960 is fixed overhead.
A total of 119,000 units using 490,000 direct labor hours were
produced during the year. Actual variable overhead costs for the
year were...
Overhead Variances, Two- And Three-Variance Analyses Oerstman, Inc., uses a standard costing system and develops its...
Overhead Variances, Two- And Three-Variance Analyses Oerstman,
Inc., uses a standard costing system and develops its overhead
rates from the current annual budget. The budget is based on an
expected annual output of 121,000 units requiring 484,000 direct
labor hours. (Practical capacity is 504,000 hours.) Annual budgeted
overhead costs total $735,680, of which $537,240 is fixed overhead.
A total of 119,500 units using 482,000 direct labor hours were
produced during the year. Actual variable overhead costs for the
year were...
Overhead Variances, Two- And Three-Variance Analyses Oerstman, Inc., uses a standard costing system and develops its...
Overhead Variances, Two- And Three-Variance Analyses
Oerstman, Inc., uses a standard costing system and develops its
overhead rates from the current annual budget. The budget is based
on an expected annual output of 120,000 units requiring 480,000
direct labor hours. (Practical capacity is 500,000 hours.) Annual
budgeted overhead costs total $739,200, of which $542,400 is fixed
overhead. A total of 119,300 units using 478,000 direct labor hours
were produced during the year. Actual variable overhead costs for
the year were...
Overhead Variances, Two- And Three-Variance Analyses Oerstman, Inc., uses a standard costing system and develops its...
Overhead Variances, Two- And Three-Variance Analyses
Oerstman, Inc., uses a standard costing system and develops its
overhead rates from the current annual budget. The budget is based
on an expected annual output of 123,000 units requiring 492,000
direct labor hours. (Practical capacity is 512,000 hours.) Annual
budgeted overhead costs total $757,680, of which $555,960 is fixed
overhead. A total of 119,200 units using 490,000 direct labor hours
were produced during the year. Actual variable overhead costs for
the year were...
Overhead Variances, Two- And Three-Variance Analyses Oerstman, Inc., uses a standard costing system and develops its...
Overhead Variances, Two- And Three-Variance Analyses
Oerstman, Inc., uses a standard costing system and develops its
overhead rates from the current annual budget. The budget is based
on an expected annual output of 123,500 units requiring 494,000
direct labor hours. (Practical capacity is 514,000 hours.) Annual
budgeted overhead costs total $780,520, of which $558,220 is fixed
overhead. A total of 119,100 units using 492,000 direct labor hours
were produced during the year. Actual variable overhead costs for
the year were...
Overhead Variances, Two- And Three-Variance Analyses Oerstman, Inc., uses a standard costing system and develops its...
Overhead Variances, Two- And Three-Variance Analyses
Oerstman, Inc., uses a standard costing system and develops its
overhead rates from the current annual budget. The budget is based
on an expected annual output of 121,500 units requiring 486,000
direct labor hours. (Practical capacity is 506,000 hours.) Annual
budgeted overhead costs total $748,440, of which $544,320 is fixed
overhead. A total of 119,200 units using 484,000 direct labor hours
were produced during the year. Actual variable overhead costs for
the year were...
Overhead Variances, Two- And Three-Variance Analyses Oerstman, Inc., uses a standard costing system and develops its...
Overhead Variances, Two- And Three-Variance Analyses Oerstman,
Inc., uses a standard costing system and develops its overhead
rates from the current annual budget. The budget is based on an
expected annual output of 122,500 units requiring 490,000 direct
labor hours. (Practical capacity is 510,000 hours.) Annual budgeted
overhead costs total $769,300, of which $553,700 is fixed overhead.
A total of 119,200 units using 488,000 direct labor hours were
produced during the year. Actual variable overhead costs for the
year were...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses
a standard costing system and develops its overhead rates from the
current annual budget. The budget is based on an expected annual
output of 124,000 units requiring 496,000 direct labor hours.
(Practical capacity is 516,000 hours.) Annual budgeted overhead
costs total $818,400, of which $585,280 is fixed overhead. A total
of 119,400 units using 494,000 direct labor hours were produced
during the year. Actual variable overhead costs for the year were
$260,600, and...
Overhead Variances, Four-Variance Analysis Oerstman, Inc., uses a standard costing system and develops its overhead rates...
Overhead Variances, Four-Variance Analysis
Oerstman, Inc., uses a standard costing system and develops its
overhead rates from the current annual budget. The budget is based
on an expected annual output of 123,000 units requiring 492,000
direct labor hours. (Practical capacity is 512,000 hours.) Annual
budgeted overhead costs total $816,720, of which $585,480 is fixed
overhead. A total of 119,500 units using 490,000 direct labor hours
were produced during the year. Actual variable overhead costs for
the year were $261,100, and...
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