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explain and examples about 1. report on production 2. idle time report 3. Overhead variance report...

explain and examples about
1. report on production
2. idle time report
3. Overhead variance report
4. report on labour rate and efficiency
5. report on material price and usage variances

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ekkarill92 answered 3 years ago
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explain and examples about 1. report on production 2. idle time report 3. Overhead variance report...
explain and examples about 1. report on production 2. idle time report 3. Overhead variance report 4. report on labour rate and efficiency 5. report on material price and usage variances
1.2 REQUIRED: Use the information provided below to calculate the following: 1.2.1 Idle time variance (3)...
1.2 REQUIRED: Use the information provided below to calculate the following: 1.2.1 Idle time variance (3) 1.2.2 Labour mix variance (7) 1.2.3 Labour yield variance (3) Indicate whether each variance is favourable or unfavourable. INFORMATION : Standard labour costs for Electro Manufacturers to manufacture 2 000 units: 400 hours at R70 per hour 200 hours at R35 per hour Actual labour costs incurred to produce 1 900 units: 290 hours at R R65 per hour 170 hours at R32 per...
1.2 REQUIRED: Use the information provided below to calculate the following: 1.2.1 Idle time variance (3)...
1.2 REQUIRED: Use the information provided below to calculate the following: 1.2.1 Idle time variance (3) 1.2.2 Labour mix variance (7) 1.2.3 Labour yield variance (3) Indicate whether each variance is favourable or unfavourable. INFORMATION: Standard labour costs for Electro Manufacturers to manufacture 2 000 units: 400 hours at R70 per hour 200 hours at R35 per hour Actual labour costs incurred to produce 1 900 units: 290 hours at R R65 per hour 170 hours at R32 per hour...
1.2 REQUIRED: Use the information provided below to calculate the following: 1.2.1 Idle time variance (3)...
1.2 REQUIRED: Use the information provided below to calculate the following: 1.2.1 Idle time variance (3) 1.2.2 Labour mix variance (7) 1.2.3 Labour yield variance (3) Indicate whether each variance is favourable or unfavourable. INFORMATION: Standard labour costs for Electro Manufacturers to manufacture 2 000 units: 400 hours at R70 per hour 200 hours at R35 per hour Actual labour costs incurred to produce 1 900 units: 290 hours at R R65 per hour 170 hours at R32 per hour...
Factory overhead cost variance report Instructions Amount Descriptions Factory Overhead Cost Variance Report X Instructions Tiger...
Factory overhead cost variance report Instructions Amount Descriptions Factory Overhead Cost Variance Report X Instructions Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for May of the current year. The company expected to operate the department at 100% of normal capacity of 8,500 hours. TIGER EQUIPMENT INC. Factory Overhead Cost Budget—Welding Department For the Month Ended May 31 1 Variable costs: 2 Indirect factory wages $29,750.00 3 Power and...
Question 2 “The percent idle time of your system is 15” Explain the sentence by giving...
Question 2 “The percent idle time of your system is 15” Explain the sentence by giving eamles of ? and µ. The Rockwell Electronics Corporation retains a service crew to repair machine breakdowns that occur on an average of ? = 3 per day (approximately Poisson in nature). The crew can service an average of µ = 8 machines per day, with a repair time distribution that resembles the exponential distribution. What is the utilization rate of this service system?...
QUESTION 5 Explain THREE (3) examples of overhead costs.
QUESTION 5 Explain THREE (3) examples of overhead costs.
1. Hutton Company reported a $750 unfavorable overhead variance on a recent performance report. This means...
1. Hutton Company reported a $750 unfavorable overhead variance on a recent performance report. This means that factory overhead was underapplied during the period. True or False 2. Companies need service and product cost information for both financial reporting and managerial accounting. True or False 3. Actual overhead costs are debited to the manufacturing overhead account, while estimated overhead costs are debited to the work in process account. True or False 4. The predetermined overhead rate is found by dividing...
2.Factory overhead variance analysis (Two, Three, Four-way Variance method) Ezekiel company provides the following production data:...
2.Factory overhead variance analysis (Two, Three, Four-way Variance method) Ezekiel company provides the following production data: Total standard overhead cost per unit of a product: 4 hours at 3.00 per hour •Budgeted fixed factory overhead 20,000    •Normal production 2,500 units •Actual production 2,000 units    •Actual hours 7,500 hours •Actual factory overhead incurred (75% fixed) P26,000 Required: Determine the following: a. Budget factory overhead b. Standard factory overhead c. Budgeted FOH based on actual hours d. Budgeted FOH based...
Exercise 21-21 Overhead controllable and volume variances; overhead variance report LO P3 James Corp. applies overhead...
Exercise 21-21 Overhead controllable and volume variances; overhead variance report LO P3 James Corp. applies overhead on the basis of direct labor hours. For the month of May, the company planned production of 8,000 units (80% of its production capacity of 10,000 units) and prepared the following overhead budget: Operating Levels Overhead Budget 80% Production in units 8,000 Standard direct labor hours 30,000 Budgeted overhead Variable overhead costs Indirect materials $ 21,000 Indirect labor 30,000 Power 7,200 Maintenance 4,800 Total...
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